Are you a coach, consultant or other service-based entrepreneur, with an established online business you’d like to grow and make more profitable? In this day and age, generating 6-figures online isn’t hard. Yet there’s a sweet science to how to do it.
In the next few minutes, I’ll try to peel back as much of the curtain as possible and show you how big companies, including some of my clients, are generating 6-7 figures without breaking a sweat.
Before diving into nitty-gritty details, as a business owner, there are a couple of things you must have beforehand:
1. An existing product which has been proven-to-sell
I see too many people try to innovate sophisticated marketing funnels without first coming up with a legit product. And having a proven product is everything.
Marketing your product is going to require time and a good financial investment, so it’d be unwise to invest in something that isn’t yet tested to sell and be profitable.
What kind of products do I see work well on the Internet these days?
Here’s a short list of what you can sell successfully in your business:
- 1-on-1 coaching
- Online courses
- Mastermind membership
- Group coaching
- Standalone product like a video course
2. A product price that is well worth the marketing efforts
If you’re selling a $14.99 eBook as your main product, it’ll be difficult to generate any significant revenue.
I recommend my clients put a price tag of at least $100 on their products, and that’s AT LEAST!
If you already have an existing product which costs $100 or more, you’re on the right track… Keep on reading!
3. A Lead Magnet to introduce people into your funnel
For those of you who don’t know, simply put, a Lead Magnet is something you give away for free on your website in exchange for someone’s email address. The reason you need a Lead Magnet is to establish an initial contact with your future customers and introduce them to your brand.
Also, acquiring people’s email addresses will be crucial to our future marketing efforts.
Here’s a small list of Lead Magnets I like to use for my clients:
- PDF Cheatsheet
- Free Webinar
- Small eBook or excerpt from a Book
- Free Video Training
4. The right mindset and an open-mind
To skyrocket your sales and cash flow, you need to be willing to experiment with new ideas, and have the “investor’s mindset.”
Sometimes people ask, “Nazim, can you guarantee that I’ll get positive ROI on my ad spend?”
The truth is, marketing is all a BIG, BIG TEST and if you want to succeed on this journey, you need to accept this truth.
And secondly, if I could guarantee such a thing, I wouldn’t be writing this blog post — I’d probably own a little island with fifteen yachts now.
Take this with a grain of salt and a big heap of positive energy!
If you truly want to transform your business, you’ll need to take small, calculated risks.
Phase 1 – Start Generating Leads
The bloodline of any online-based business is leads, because leads turn into paying customers in the future.. And this is exactly where we’re going to start – generating leads (future customers) for your business.
How do you generate leads anyway?
It’s very simple, and you’ll need to have two things: a lead magnet and Facebook ads.
The way this works is, you first have to attract the right kind of people, introduce them to your business and show them your knowledge and credibility.
Promoting Lead Magnets is an amazing way to do this. You’ll get a unique opportunity to show your readers that you’re not another self-proclaimed “goo-roo” and that you have real value you can share with them.
So, the first step will be to come up with a Lead Magnet.
If you already have a working Lead Magnet, great!
In case you don’t have one, now is the right time to create it
Here’s an example of a Lead Magnet that worked great for one of our clients!
Once you have a right Lead Magnet, it’s time to launch profitable Facebook ads!
If you’ve been around the online business industry, you’ve probably already heard that running Facebook ads is “the thing” these days and it’s absolutely true. Facebook is an amazing place to promote your Lead Magnet because it allows you to target based on interests, gender, age, and even your competition!
Bottom line, if you aren’t familiar with Facebook ads, I recommend you sign-up for a free training or buy an introductory course online.
Note: If you already have too much on your plate, and don’t have time to master the art of Facebook advertising, you can always hire a team of experts who’ll do it for you.
Phase 2 – Value Marketing
This step is all about being you and sharing value, love, and knowledge with your leads.
We’re not yet trying to sell to our leads because we still need to give them some time to become at ease with our authority and presence. This may take up anywhere from 2-3 hours (if you’re using a “Webinar” as a Lead Magnet), or up to 6-7 days (if you’re using a classic “Email Marketing” approach).
Neither is bad, good or universal – to each its own.
For example, one of my favorite ways to give value and establish authority is running webinars. I like webinars because they’re personal and you, as a business owner, get a unique opportunity to have your voice heard by the leads almost immediately.
But as much as I love webinars, a good part of people I work with also successfully use video training, email marketing, 5-day challenges and more.
The bottom line is, think about the areas where you can help your audience. Then, think about what would be the best way to give out valuable advice to help improve their situation.
Phase 3- Pitch your Offer
This is my favorite part, and the title says it all – it’s time to monetize our leads!
After phases one and two, when we’ve had a chance to acquire the leads and share lots of value, we can safely offer a more comprehensive solution to your prospects’ needs and problems.
See, this is the thing that made me fall in love with marketing… it’s not just “take, take, take.” It’s fair in its approach and never asks before giving first.
If only everything operated this way…sigh.
Anyway! Enough day (blog-post) dreaming – back to marketing!
“But Nazim, how do I pitch my services online?”
Good question! As an online-based business, there are multiple ways you can present and sell your product. Here’s a quick rundown of my personal favorite ways to sell products online and why I like each one.
1. Video Sales Page (VSL)
The reason I like using a VSL is that it’s a tested and proven method to get the job done. Video sales letters and classic written sales letters have been around for decades and always deliver.
As I said before, there’s a special place in my heart for webinars.
Holding a webinar is great because it’s “an experience” in itself and bears a “special event” feel to it. Whereas it’s clear that a Video Sales Letter page, is a page with a video on it, Webinars are usually hosted on special online-event platforms like WebinarJam or StealthSeminar.
These platforms look great and make your leads feel like they’re in for a special treat.
3. Free Breakthrough Call
Last but not least, offering free breakthrough calls is the third option I like to go with when working with clients. This is by far the most personal way to sell products, and I usually recommend it to business owners whose prices are above $2,000 which is very common.
So, if you’re looking to sell high-ticket coaching packages, offering free breakthrough calls is the way to go!
There it is, your 3-step process for how to scale your online business to 6-figures.
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