Create Products Your Clients Will Buy
We are big believers in creating passive income here at Thrive & Grow however too many entrepreneurs do not know what to offer or think that their time for money services is enough to sustain their lifestyle. Often ending up on the great hamster wheel of business.
Of course, your clients hire you for your specific skillset and specialism, but wouldn’t you like to earn more in your business? Wouldn’t you like to experience the phrase, “Make money in your sleep” in reality? How would it be if you were to reach more of your target audience who aren’t quite ready to purchase your big ticket packages?
This is why you need products to sell in addition to your online service business.
But, What Will They Buy?
A simple way to determine what your audience needs is to simply ask them. Create a survey with Survey Monkey and ask your followers on social media and on your email list to complete it. Maybe what they are looking for is a simple eBook or a workbook. Others may be looking for a masterclass to resolve their specific problem.
Also ask your current clients what they need. This is especially important to retain them as clients after their one-to-one service ends. What’s the logical next step for them to continue learning with you?
Identify Your Target Market (yes again!)
You have likely done this exercise already; however, it is important to review your market and identify any changes that may have occurred. Have you stayed true to your initial business plan of attracting your target market or are your clients at a lower income level? How do you attract new prospects?
By creating lower priced products, you’ll attract people who aren’t quite ready to purchase a high priced item. However, these are still good prospects to have in your sales funnel because they can start slowly with your lower priced items and as their income increases, you can offer higher priced items, eventually leading to your highest priced product. While they progress through your products, they will see you as a credible expert and will trust this expertise, especially when you offer your higher priced coaching sessions.
How to Create Low Priced Products
We hope this idea of passive income intrigues you because it could really be a game changer in terms of your income. Check out our resources page www.thriveandgrow.club/resources for inspiration.