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For the next three weeks, we will be doing a series on simple ways to double your income. Here are the weeks and what we will be discussing:
- Week 1 – Tracking Stats & Collaborating
- Week 2 – Raising Your Rates & Focusing on Growth
- Week 3 – Embracing Paid Ads & Creating Products
Let’s get started!
Welcome to Week 3!
Embrace Paid advertising to grow your reach
Time is your only non-renewable resource.
There are only 24 hours in a day.
So, what does that have to do with getting traffic to your content and growing your reach?
you have two choices
To get in front of your ideal audience, you can either:
A. Spend tons of time
- Creating content
- Posting on social media
- Reaching out for collaborations
B. Pay for ads
Good News & Bad News
Paid ads can be a daunting task.
Bad News: there’s no guarantee you’ll get your money back.
Good News: it’s actually fairly easy and mostly affordable to get started than it has ever been. You can start small and scale.
A place to start
You see them while you’re scrolling.
Think about the last ad to catch your eye and hook you enough to click on it.
- What kind of ads was it?
- Was it an attention-grabbing photo?
- Did it have an interesting tagline?
- Was it the pretty product image?
- Were you already looking for that specific type of product or service?
Really think about it.
The next step
Now that you’ve thought about it, it’s your turn.
- What’s your best-selling product?
- Does your lead magnet draw people in like crazy?
Now ask yourself why people love the product.
- Are you solving a problem?
- Do you tackle a hot topic?
Narrow down the reasons you think your product is such a big hit, then center your ad around that. Let the ad be a reflection of the product’s best feature.
time for a little research
Read through some blog posts about getting started with Ads.
Watch a few tutorials.
I added the direct link to Facebook’s explanation of Ads and other resources in getting started at the end of this post.
TIP: don’t forget to install the Facebook Pixel so you can track what’s working and what’s not (will be explained on Fb’s site).
After following the steps, it’s time to create your first ad.
Be sure to create two additional ads (at least) so you can test which ads perform better with your audience.
Start with images.
Pick different images for each post, but leave the text the same.
launch & test
Launch your first ads with a small budget.
Try $5 a day. If you can swing it, go for $10 or $15. Just keep your bids as low as possible when you’re starting out. This will allow you to grab data faster.
Let your ads run long enough to see which one performs the best.
Hold onto your best performer and start tweaking things.
- Possible tweaks:
- Minimal text
- Slightly more text
- Lots of text
- Different headlines
- Different CTAs (call to action)
Keep testing and tweaking until you have an ad that gets you the results you want: a profitable ad that would be hard to improve upon.
The Sky's the limit
Once you have an ad in place, here are some next steps:
- Invest your profits into more ads
- Create ads for different products or opt-ins
- Branch out into Instagram or other social media platforms
- Try Google Ads
Keep buying ads -> keep growing your reach.
Keep growing your reach -> keep growing your profits.
a tip to help save some money
Here’s a tip to save a little cash: wait for a notification on your business page offering you credit to put towards ads. Yes, if they offer you $5, they might demand you spend $15, but any small discount will help when you’re starting out.
Create a High Ticket Item You Can Sell Again & Again
Maybe one of the quickest and easiest ways to double your income is to create an evergreen high ticket item that you can continuously sell to your customers.
Hold Your Horses Though
The most popular models:
- 1:1 Coaching
- In-person Workshops (in your home or elsewhere)
Both of those suggestions are great options and can justify a hefty price tag.
There’s just one problem: limitations.
You will have difficulty scaling because you will be faced with any limits on time and space you might have.
Just how many of these meetings do you want to have each month?
Everything is figure-out-able, so let’s discuss some options that won’t be as limited.
We’re trying to find high-value items that are evergreen in nature (meaning they won’t go out of style anytime soon): your very own “digital classic tee” so to speak.
“But, Tina, most of my subscribers and current customers won’t buy them.”
QUIT YER BELLY ACHIN!
It’s a good idea because you don’t need to sell a lot to be profitable and it’s a great source of passive income.
Let’s say your average product costs $27.
To get to a $5k month, you would have to sell 185 of them.
Sound like a lot?
Yeah, that’s because it is.
That is a LOT of new customers to bring through every month to make your income goal.
Now let’s discuss a $97 product.
To get to $5k, you only need to sell 51.
Sound a bit more doable?
Let’s go a step further.
Say you create a course or mastermind that you can sell for $497.
You’d only need to sell 10 a month to hit your goal.
Products <->Doubling Your Income
So let’s relate this to your desire to double your income.
While it’s entirely possible that you could come up with another $27 product, you would have to double your workload to get the extra 185 sales.
So what about that $497 product we mentioned?
Let it be the last piece in your product funnel, the pinnacle of your client journey.
Note: not every customer will purchase, but that’s fine!
The ones who need the extra help and have the means to make the investment will grab it. You don’t need to sell hundreds to hit your income goal, remember?
creating your Digital Classic Tee
There are a LOT of resources to help you create digital products.
Remember your goals:
- Offer lots of value
- Make a difference in your customer’s life
- A Guide (ebook)
Give a step-by-step walkthrough of the process to reach their goal. Offer bonuses like a workbook and office hours so customers can ask questions.
- Mini video course
An interactive course that allows a “Choose Your Own Adventure” type of experience, meaning customers get to pick and choose specific lessons based on their own stumbling blocks.
- Access to Your Team or Network
Maybe you can act as a Digital Sharing Platform and connect people who need each other’s services.
True story: last week, I was looking for resources for the blog post. I posted on my Facebook page and tagged my Biz Friends. In the comments, two of my friends connected with each other and my heart swelled. I loved creating that connection! Try it. You’ll love it 🙂
Create a group that allows people to connect and collaborate.
- Access to Your Membership Site
Advice, motivation, help and interaction with like-minded people is extremely helpful for those who are just starting out.
- What did you need?
Ask yourself what you needed when you were just getting started.
Create that product or service for someone else.
Don’t forget to slap a premium price on that awesomeness 🙂
Create a new product for your existing customers
Listen up, this is important: sell to your existing base.
It’s actually easier to convince a former customer to purchase another of your products than it is to find new buyers.
So it’s time to create additional products for your current base.
what's next? Research.
Your first product was basically a Step 1 in the process.
Now it’s time for Step 2: find out what your audience needs next.
- What are they struggling with?
- What’s the next microgoal on the way to reaching their ultimate goal?
You can brainstorm by asking your audience.
- Take polls
- Ask customers what they need next
- Research what others in your niche are doing.
DO NOT copy other people’s work!
Use their client journeys for inspirational purposes only.
From all these things, you’ll have a list of ideas.
Pick one and get creating!
Better the second time around
Since you’ve already asked your audience and now know exactly what they need and how to do it, creating the next product will be a bit easier than the first.
Creating your third and fourth products will be even easier.
By then, you’ll have systems and workflows in place to make the process that much smoother.
Plan a series of products. Think of the ultimate goal, then break it into microgoals.
Create a product for each goal, while keeping your audience in the loop by asking them about their needs.
If you hit a snag and start to run out of ideas, don’t panic. Just think about topics related to your main topics.
First product about list building? Branch out into copywriting or social media.
First product about gardening in containers? Branch out into composting or canning.
Make sure the flow feels natural. You don’t want to start with canning, then branch into copywriting. That doesn’t make sense.
Post it, then share it
Once the product is finished, post it for sale on whatever your chosen platform is, then share about it.
Email your list and post about it on social media (if you even have any accounts).
Don’t be surprised if you start seeing sales right from the first share!
So let’s do a little comparison.
Remember all the hard work, time and effort you put in the first time around to originally gain your customer’s trust?
You don’t have to do that any of the following times because you’ve already built that. That right there should motivate you enough to keep creating and selling to your current list.
Kinda makes you want to get to work on the next project, huh?
The benefits of adding a new product
You have already tested promotion possibilities, so you can market the second product the same way that worked for the first.
If it ain’t broke, don’t fit it, right?
- Send an offer to your email list
- Post it on social media
- Link to it in your blog content (yes, even in old relevant posts)
- Mention it when you guest blog or do interviews
People who weren’t interested or had never discovered your work before just might purchase it.
New buyers = more profits.
Try it for yourself and see!
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Bundle includes 50 total templates for:
- Product launches
- Seasonal sales
- %% Offerings
- Flash sales
- Special offers
- Buy 3 Get 1 Free
- Weekend sales
- New arrivals