Are you giving your customers enough choice? Can they buy what they want from you at the time and price to suit them?
And no… I’m not talking about discounting your services and products to compete on price!
I’m referring to what I call your “Social Expert Strategy”, and Joanna Martin calls your “Elegant Business Model”.
The means of creating a revenue stream from your expertise… selling the same work or time over and over again.
When you do this, your prospects can buy from you at the point that suits them – whether at the higher or lower end of your pricing. It also means that your 1:1 time holds a higher value. When you become less available to clients, your value increases.
If every time they want to buy from you, you’re the one answering the phone, responding to emails, visiting the client, and then doing the job, you are a) restricting your income to the number of physical hours you are able to work, and b) limited in what clients will pay to work with you.
If you decide to spend a few days with your family, or you fancy going travelling for a month, you can’t generate any income because you’re not physically working.
Imagine that Joe Bloggs has been following you on social media for some time. He knows you’re the expert and he recognises that you’re the person he wants to work with. It’s Saturday evening, and he finds himself with a rare evening home alone, and is feeling fired up to learn… from you!
Without a Social Expert Strategy, you either have to give up precious family time to go and deliver the training on a Saturday evening – yeah right?!
Or, you have to hope that he is able to stay fired up until next Thursday which is the earliest slot you have free in your diary.
With a Social Expert Strategy, it doesn’t matter what time of day or night Joe wants to learn from you. He can simply go to your website, purchase and work through your program. You’ll wake up the next morning to an email that says you’ve received new funds into your bank account.
Joe gets what he wants, and you’ve got a business model that generates income whether you are working or not.
There’s another benefit too. You see, just because you can sell the same content over and over, that doesn’t mean you can’t work with Joe personally as well.
However now, the value of your time increases. If they can get access to your expertise through their virtual purchase for, say, £50, then they are happier to pay, say £100 for an hour of your 1:1 time. And if you also offer a “done for you” service, the value of that increases too.
There’s several ways I recommend to clients to get started with creating their own Social Expert Strategy;
- You can lock yourself away for a month creating content and then do a big launch.
- You could run a 30-day challenge for a select group of people for free, and create the content for them on a daily basis – culminating in you having all the content for your Social Expert Strategy ready to go on day 31
- You can sell first and create later, live. So you map out what you’d like to include in your program, and how you’re going to deliver it. Then you start selling it as a xx week self study program, which is delivered live via webinars etc. You record each session, and after you’ve delivered the content to the initial group of buyers, you have a virtual program you can sell via your automated sales funnel – and that you can add your time onto at an extra cost.
I’ve seen various businesses make this model work, including;
- Marketing Coaches
- Virtual Assistants
- Graphic Designers
- Image Consultants
- De-cluttering Experts
- Weight Loss Consultants
- Baby Signing Trainers
- Video Marketers
So, if you’re at the point in your business where you want to step up to the next level of income, but don’t want to have to (or can’t see how you can) increase your working hours, then give some thought as to how you can create your own Social Expert Strategy.
My VIP Coaching Program is now 65% full! In the 7 weeks since joining my program, Helen has generated a ROI of 7.5x her investment… and she is still in her first year of business! The VIP program is a tight-knit group of women who are committed to significant business growth this year, and all applicants are personally interviewed by me to make sure the program is the right fit for you before you commit.