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Creating Continuity as a revenue stream for your business
By Karen Purves of Effective Marketing for Coaches
What better way to run your business than know on the 1st of the month, you bill £x,ooo – the currency is unimportant. What a weight off your mind, know all the bills are paid AND the next holiday AND the next training for your continuing professional development. All that is required is to provide information over a long time frame that is required by your market. Information? This can be in the form of articles, interviews, teleseminars, CDs.. the list is endless, but it has to be worth paying for. You have to be resolving the discomfort of your clients. From the research conducted, the length of average individual membership is 34.8 months (Source: SherpaMarketing.com) This means for nearly three years you could be receiving an regular amount per member for giving them information to resolve their issue and to provide material to better equip them in the future. But, it doesn’t just stop there, these members are actively buying from you, this means they are your hottest prospects for additional products and services eg courses, workshops, group coaching, 121 coaching or other services. What’s more the cost of getting these sales is linked to maintaining the information flow to your members. So, let’s take a step back…. Here are the five steps you take
1. You learn about a hot topic that people want to have resolved within your field of expertise
2. You create material that helps them resolve that topic
3. You then promote that your market can get relief by becoming a member of your XXXX plan for a low price.
4. You establish yourself as an expert in resolving their topic or aspects of their topic
5. You then offer them more through courses, workshops, programmes etc. If you are thinking, why isn’t everyone doing this? Well the smart ones are. With the coaching market changing, more coaches will have to be thinking more strategic about their business than getting coaching clients. Coaches who differentiate themselves form their peers… and this is a great differentiator… will have more customers, more clients and ultimately more raving fans.
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The copyright for this content entitled "Creating Continuity as a revenue stream for your business" has been specified by the contributor as:
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This intel was contributed by kazz
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May, 2012
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