If you currently sell information-based products like books or training courses, you may want to consider expanding your sales strategy to fully monetize your business.
Even if you’re successfully reaching your sales goals with your current strategy, you may be overlooking how to make more money and do it with less effort.
People who actively buy information-based products are hungry for new material as well as how to access it. This is exactly why you must actively keep them engaged and provide more ways for them to access the information you sell to them.
You might think this translates into more work but it doesn’t.
Sure, you have to set your business up to work in this way, which does mean more work up front. But in the long run, your business is essentially on autopilot.
How does this work?
Initially, you want to engage your customer with a free or low-cost product. This actually could be the product you’re currently selling. It’s usually something like a $7 book or ebook, a training manual, or short webinar.
While you may think that this product is all of the information you have to sell, you have to look at it from your customer’s perspective. If they’re already buying from you, that means they trust you. They respect your knowledge and your opinion and they’re going to want more of it.
In addition to your initial product, you could develop a series of training courses or webinars for a higher fee. There’s also likely a small number in your customer set that would like more personalized attention in the form of coaching or consulting. Yes, you’ll be spending more time on these clients but you’ll also be charging them for your time making it well worth it.
You could also set up a membership site where for a monthly fee, your customers can access all of the information in one place. All of these additional services you provide for your clients translates into less work for more money. And the added benefit for offering services like coaching and membership sites is that you can receive a set fee on an ongoing basis with minimal effort.
Think outside the box for how these ideas might fit with your business and get help with developing a solid strategy to implement them. By doing so, you’ll achieve a stronger relationship with your customers and make more sales.