What other problems can you solve for your ideal clients? What are the problems
might make it easier for them to solve the problems that you already solve.
Those are some ways that you can increase the lifetime value because it is so
much easier to get an existing client to come back and help them again and
again and again than it is to constantly try and attract all of these new
people into your audience. Welcome to Imperfect Action. I'm Steph Taylor. For
years, I read all the books, downloaded all the freebies, and did
all the courses, But it wasn't until I started taking imperfect action that my
business had its first million dollar year. Imperfect action is about doing things before
you're ready, prioritizing consistent action over perfect action, and moving forward even when
you're not sure you're doing it right. On this show, you can expect
mindset advice, actionable marketing tips and strategies to build a business that brings you
more profit, more freedom, and even more joy. You want the list
to get my daily businesses. Every day, I'll send you a bite sized
prompt designed to help you grow your business in a more intentional way. Sign
up at Steph Taylor dot co, forward slash DBB, or at the link
in the show notes. Hey, welcome back to Imperfect Action. This is
episode seven hundred and twenty nine. Today I'm sharing some ways you can create
consistent income in your business without going and launching a membership. I know that
there's this big misconception out there where people will tell you, oh, the
only way to create consistent income in your business is to have some kind of
recurring revenue offer. And while yes, having a recurring revenue offer can be
super helpful, it can be really nice for evening out the highs and lows
in your income, it's also not the only way to create consistent income in
your business. And today we're going to talk about some ways to create that
consistent income without adding any kind of recurring revenue offer like a membership or a
retainer package. Now, I do share more tips on how to create consistent
income in your business in my free masterclass seven Secrets for Consistent Sales. You
can register for that at Steph Taylor dot co slash Masterclass, or you can
send me a DM with the word masterclass. I'm on Instagram at Steph Taylor
dot co and I will send you a direct link to register for that masterclass.
It's a really simple way for coaches and creators and experts to grow your
income without having to work more hours or spend loads of time on social media,
just constantly trying to get new people in through the door. So defftailor
dot co slash masterclass is that one, all right? So there are three
main components to making sales in your business. Like, if we think of
it as an equation, it's going to be the number of people who see
your offers, the number of eyeballs on your offers, multiplied by the conversion
rate, so the percentage of people who convert into paying clients or customers,
and then multiplied that by the average lifetime value of a customer or a client,
so how much that person spends over their lifetime. So I'm going to
break it down into those three sections. Some things that you can do to
increase the number of eyeballs on your offers because that will increase your sales,
how to increase the conversion rate, and then how to increase that customer lifetime
value. Increasing all three or improving all three parts of this equation is kind
of a non negotiable when it comes to creating that consistent income in your business.
It'll make life a lot easier than just haphazardly trying to grow your audience
but without thinking about how you're converting them, or trying to increase your conversion
rate, without thinking about how much somebody spends with you over the lifetime that
they are your customer or your client. So let's start with number one,
increasing the number of people that your offers reach. Increasing the number of eyeballs
on your offers. Number one, Build your email list and make offers to
them regularly. And when I say an offer, I don't mean that it
has to be like a flash sale or a discount. Your offer can be
hey, guys, for this weekend only, I'm offering this new service that
I never usually offer, or for this week if you sign up for my
online course, you get this bonus. Right. So, you can make
these offers to your list with a little bit of a deadline, so that
if somebody's on the fence they've been thinking about doing it, that little deadline's
gonna nudge them off the fence and encourage them to convert. Now, in
the foot of all of my emails, that go out, So we send
pretty much daily emails at this rate, at least three emails a week with
the new podcast episodes. But in the foot we also include ways people can
work with me. And that's making sure that people who are on my list,
who are in my audience, actually seeing the ways that they can work
with me. And if you're worried that selling to your email list means people
are gonna unsubscribe, and you'd think, oh, I just want to I
just want to deliver loads of value to them, you could do both.
You can deliver loads of value and still sell to your audience and know that
if somebody unsubscribes that we're never going to buy from you in the first place.
They probably weren't your ideal client. And that's okay. We're not there
to just deliver value, and you can't help your audience. The ones who
are willing to work with you, You can't help them if they don't know
how they can work with you. Okay. Number two, include offers in
your lead magnet nurture sequences and then consistently drive traffic to download your lead magnet.
So let's do a little recap. Lead magnet is usually going to be
a little freebie, like a free ebook or a workbook, or a mini
course or a masterclass. That's going to be a little piece of free content
where somebody has to give you their email address in return for having access to
this content. And then once they have signed up for the freebie, they
will get a series of emails from you, which is what I call the
nurture sequence. Now, in that series of emails include some different ways that
people can take that next step with you. Maybe there's just one offer linked
to that one particular lead magnet. And in that nurture sequence, you are
showing them, yeah, they're getting loads of value from the freebie, they're
getting loads of value from that nurture sequence, but they're also getting that next
step so that they can keep working with you, because they can't just magically
find the next step, and they probably won't go on your website and click
through all of the pages and look for the next way to work with you.
So tell them how to and then promote that freebie. So promote that
free lead magnet wherever you can. If you're a guest on somebody's podcast,
make that your call to action at the end of the episode. If you're
running Facebook ads. Run Facebook ads to it. Tell people about that lead
magnet they can get on your email list. Number three, sell More often,
selling gets a really bad rap. People think, Oh, I don't
want to be salesy and sleezy, and I don't want to sell to my
audience because that's going to just turn them off. But selling doesn't have to
be sleezy if you do it right. It can just be a way of
showing your audience how you actually have the solution to the problem that they are
struggling with. And you can make offers to your audience that way without putting
them off, without being the sleezy, stereotypical second hand car salesman that we
tend to associate selling with. And remember, your offers can't help your audience
if they don't know about them, so you actually need to tell them about
your offers. Okay, So then we're going to look at the second part
of that income equation, increasing your conversion rates. So of the people who
see your offers, who potentially land and on the sales page, or they
see that email in front of them, how can we make more of those
people convert, more of the right people convert So firstly, we want to
create the right offer. And when I say create the right offer, I
don't mean that your offer needs to be this unique, shiny thing that nobody
else has ever done. That's not necessarily the right offer, and it doesn't
have to be a great exciting idea either. The right offer is one that
solves a problem for your ideal client that they are willing to pay money to
solve, okay, Or it helps them to complete a task that has been
on their to do list, or it helps them to achieve a win that
they've been dreaming of achieving and it's something that they would pay money to do
or to achieve. Number two, communicate those offers with the right messaging.
Nobody else is ever going to be as excited about what you are selling as
you are, so instead you need to put You need to communicate your offers
in a way that meets your ideal clients where they're at and shows the why
it's something they need to prioritize. It's not messaging that's going to try and
make them really excited and hype them up and get them to buy because they're
afraid of missing out. That's not what's going to sell it's going to be
messaging that shows them, hey, I know the problem you are struggling with,
and here is the solution, and this is why it's going to work
when nothing else has worked to solve your problem before, and then also show
them why they should prioritize spending money on it right now. Number three,
you have the right people in your audience. You're attracting the right people into
your audience, so you can have the right offer with perfect messaging. But
if you are trying to sell it to the wrong people, to the person
who doesn't have the problem that that offer solves, or who doesn't value solving
it enough to spend money on your offer to solve it, then you're going
to struggle to convert them, regardless of how great your offer is and how
great your messaging is. Though, you know, when somebody tells me my
audience doesn't want what I'm selling, a lot of the time, it's not
that they're the wrong people. It's usually that you haven't communicated why they should
prioritize it enough to spend money on it. And it's often a messaging problem,
not an audience problem. But the challenge can be discerning between the two
of those, and then finally the third part increasing the lifetime value, so
increasing the amount that somebody spends with you over their lifetime. And this isn't
about not delivering loads of value in each of your offers. I know this
can be a bit of a misconception, like, oh, so should I
always leave them wanting more? No, it's not about that. It's about
solving smaller, more specific problems in each of your offers, or delivering smaller,
more specific transformations, and then helping them to solve more problems or achieve
more problems over their lifetime and with your different offers. So number one easy
way to do this is to add a back end offer that somebody can buy
after they complete your other offer. So when somebody has completed one offer,
maybe it's your signature one, and they've achieved the our come from that,
what new problems do they have or what new transformations do they want to achieve?
Like what is next for them? I when I created offer less,
sell more, that's the very first step in my suite of offers. And
when somebody has completed that, then the next question for them is, oh,
how do I attract the right people form my offers great. My next
offer is booster brand superfans. And once they've attracted the right people, then
it's oh, how do I launch this new course idea that I have?
Then it's launched Magic. So I'm not trying to solve all of their problems
in one gigantic, overwhelming offer. I've broken it down into smaller ones,
and it means that I can help my audience beyond just that one solution,
beyond just the one transformation that they are achieving. The second way you can
do this is to add an offer that moves somebody closer to buying your main
offering signature offer if you want to call it that. So what comes before
that main offer or what comes before even the first offer? If you have
multiple different ones, what does somebody need before they are ready to buy your
first offer? And a great place to get inspiration for this is from your
non buyer surveys. So if you're sending out a survey after a launch and
you're finding out why people didn't buy, that's a great place of inspiration.
I did this with launch Magic. Every time I launch Launch Magic, I
send out a non buy a survey after we closed doors and the big takeaways
that I always get from that is oh, I don't know what I should
launch yet, or I don't have any ideas for my offer yet. That
told me, oh, actually, there's place for me to create a course
that's helping people to come up with the ideas to build out that vision for
all of the offers that they're going to sell. And that's how offer less
sell more came around. Okay, so I was creating an offer that would
move somebody to solve that problem that they needed to solve before they'd be ready
to buy my bigger offer, and then number three add an offer that solves
a related problem they are experiencing. So what other problems is your ideal client
experiencing that don't already get solved in your main offers. When I created Booster
Brand Superfans, that was to solve a problem that people who have done my
podcast launch plan have, which is, once they've launched their podcast, they
need to intentionally grow their audience. It also was created to solve a problem
that some of my Launch Magic students have. Once they've done the first launch,
then how do they keep attracting more of the right people into their audience
so that the second launch grows from the first launch. That's why I created
Booster brand Superfans. So it's a related problem that my audience was struggling with.
What other problems can you solve for your ideal clients? What are the
problems might make it easier for them to solve the problems that you already solve.
Those are some ways that you can increase the lifetime value because it is
so much easier to get an existing client to come back and help them again
and again and again than it is to constantly try and attract all of these
new people into your audience. So there you have it. Different little ways
that you can play around with those three parts of the income equation, the
people who are seeing your offer, the percentage who are converting, and then
how much those converted clients or customers are spending with you over their lifetime.
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