The world is shifting to a new kind of business model.
The way people buy has changed for good.
The direct to consumer eCommerce market as well as many other service industries have all moved to subscription billing.
This means everyone is now getting used to it (even expecting it) and happy to pay you for either
– Specialist Knowledge (information overload is everywhere – think how you can you provide short cuts, hacks, experience and specialized knowledge in your memberships)
– Convenience & Time Saving (people are busy and want to save time whenever possible as it’s your most valuable asset – think how you can do this with your services)
– Preferential or VIP Treatment (people want to feel special – think how you can do this with your members / customers)
– Trust (people have gotten more savvy and now understand buying some one time offer at $37 for a software will probably no longer work in 6 months and the only way a company can provide better services is to be sustainable with subscription billing – think how you can add subscription billing to your business)
It’s time for your business to change and we’re here to help you with the tools and resources you need for your business.
We’ve been talking a lot about FTMs this week (Fixed Term Memberships) but of course you could go the traditional ongoing monthly subscription model as well.
We’ve researched and tested the heck out of all sorts of pricing models on our membership sites and funnels over the past decade.
Here’s another tip on pricing that has worked really well for us and many others.
Charge monthly but bill annually OR use your monthly pricing as dummy pricing and give people a discount on the annual.
charge $47/month but if they go annual it’s only $199/year
– Increase your conversion rates (40%-60% off savings will help get people to take action faster)
– Reduce your churn rates (your members have no reason to cancel during the first 12 months)
– Get your money up front so you can invest back into your business & provide a better service (cash flow is king)
One of the best subscription billing models with the least amount of ongoing maintenance is to sell access to your own online courses or coaching.
Everyone has valuable knowledge to share with the world. Begin by evaluating your own skill set, interests and passions and look for ways to design a course that will teach your students one new skill.
Don’t try to create a course that covers every aspect of your topic! Instead, provide students with a clear path to achieving one goal, or mastering one main skill and you’ll have a surefire winner on your hands.
Remember, when students pay you for a course, they’re not just paying you for information – they’re paying you for results.
So, when planning your course content, start with that desired outcome and work backwards from there.
Courses have the potential to generate thousands of dollars a month in passive income. Best of all, this is a sustainable income system that you can easily scale as you create new modules, or extend the scope of your content.
You’ll have to put in a little work upfront, but once you have a solid foundation for your course, you’ll be able to sit back and continue to earn money!
We’ve created hundreds of courses, audios and videos over the years so we’re going to break this down to the very core and keep it simple for you.
Your Online Course Checklist in a Nutshell:
Step 1: Validate your topic idea: Make sure you’ve researched your market to verify overall demand and give your course the best chance at success.
Step 2: Create your Course Outline: Building a course from scratch can take time, but if you work with an outline you’ll have a strong foundation for your training product. It will also help ensure you stay focused while covering the most important steps needed for your students to be successful.
Step 3: Create your Course Content: Try to provide a variety of formats, and always include at least one video module in your training program.
Step 4: Give your course a sexy title: Come up with a powerful, attention-grabbing title that will stand out in the market, while giving students a clear idea as to what your course is about.
Step 5: Launch your course! Chances are you’ll sell access without doing any off-site marketing of your own. However, if you want to maximize your income, you should do your best to connect with your audience and make them aware of your training program.
Once you’ve got that all worked out then you’ll want to automate everything as much as possible so you just set it up once and let it run hands free for you with minimal maintenance.
If you’re using a platform like ProductDyno you can set up these sites super fast and schedule content months ahead of schedule just with a few clicks.
Once you’ve built one site we guarantee you’ll want to build more of them and with ProductDyno you can.
And with ProductDyno you can even clone an existing site and just switch out the logos and content and you’re ready with the next site to start profiting from.
The revenue can mount up fast too!
Add just 1 person a day into a 6 month fixed term site charging $20 a month (a $120 total customer value) and at the end of the month you’ll be looking at an additional monthly income of $600 for the next 6 months.
Create just 3 new FTM sites over the next 3 months and add just one new member per site per day and you’ve probably just covered you mortgage and car payments every month.
Just rinse and repeat for more income 🙂
With ProductDyno it’s quick and it’s easy to build out these sites and so much more (it’s the perfect solution for anyone selling any kind of digital product)
Check It Out Here
PLUS+ Right now you can take advantage of our 2020 New Year Kickstart Deal!
Don’t Miss Out! Lock In This Savings For the Lifetime Of Your Account!
Get started today and get your next “FTM” membership up and running this week!