The Joy Killers - A business murder Mystery.15 Apr 2022

S8 E51 Provide your followers with lower cost options

Ideas from “Entrepreneurial You.” Dorie Clark “Monetize your expertise, create multiple income streams and thrive”

Lower cost options – Help all your followers.

You can cater to the rich, and I’ll take the rest; the good Lord made more of them.

Kemmons Wilson founder Holiday Inn

Not everyone can afford to spend a couple of thousands of dollars for a course. And it is likely that many of your followers fall into that category. They have been devouring your free content and would love to buy something from you. But $2000? That’s way beyond their budget. If you have built up a decent following it is possible to generate an attractive income from a $100 product or even a $10 product.

Jason Van Orden of Internet Business Mastery thinks of these varied product offerings as ascension ladder. He says it is foolish to only think of selling big ticket items. Instead, you must think about customer lifetime value. A customer spending $25 per month over five years is worth $1,500. And done right your marginal cost of serving this customer can be near zero. That $1,500 is pure profit.

And the folks who do buy your big-ticket items. will be interested in your lower cost options and they can certainly afford them.

In this episode we will look at some low-cost options you can consider.

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