You’re one smart cookie. It’s about time you got paid for it, I’m going to share with you 15 ways to monetize your knowledge and develop new revenue streams for your business. Whether you’re just starting out or you’ve been in business for years, these ideas will help you create your perfect product suite. By creating digital products and group programs, you can leverage your time and have a more flexible lifestyle for your family. Instead of working one-on-one with clients, you have the opportunity to work one-to-many and scale your business quickly.
We live in a very exciting time where digital products and programs can be easily made. I love and value working one-on-one with a client; however, if you want to scale your business and not be on calls or appointments all day, then it may be time to incorporate another method of monetization. You can take one of these ideas and run with it or you can combine them to find a method that fits your needs and style.
You can also tier these types of products and programs so that you have an entry-level, mid-level, and high-level product so your audience has multiple ways they can work with you. What I love best about these methods of monetization is that they are highly scalable. You can create one program and sell it to many people. I’m super excited to dive into today’s video.
Let’s jump in….
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1. eBooks: This is an entry-level digital product where you can take what you know and put it into digital form. An eBook can be as small as 4-5 pages or hundreds. eBooks are great for establishing credibility in your area of expertise and an excellent segment into upselling your other products and programs.
2. eGuides: A how-to manual or digital guide organized by subject. You can also develop blueprints or roadmaps that are PDFs that share information your ideal customers want to know.
3. Swipe Files: A short PDF document that contains a collection of tested and proven techniques. These can be templates, email copy, advertising copy, sales pages or sales letters. Anything you’ve done well and proven to help others can be put into a swipe file for others to replicate.
4. eCourses: Training programs delivered via video, audio, PowerPoint, pdfs worksheets or checklists. They can be self study where you have all of the information located in a centralized hub for your students to go through at their own pace or content can be automatically dripped out with new lessons sent each week. There can also be a Facebook group associated with the course or many use Slack to answer questions that come up as your students work through the course.
5. Email Courses: One of the easiest ways to launch an e-course without worrying about the technical side of creating a digital program is to create an email course. An email course can be automated so that it’s sent out daily, 2x a week or once per week. It’s really up to you and how your customers can best digest the content.
6. Audio Courses: Not a fan of video? You can make audio recordings about your area of expertise and sell them together as a package. These can be sent out via email or located in a centralized hub where they can listen all at once or dripped out each day or week.
7. Membership Sites: A subscription-based model for delivering your content. Members would pay a monthly or annual fee to be a part of your program. This is a great way to set up reoccurring revenue each month. However, you’ll need to ensure fresh, new content, coming out each month to keep your members. Generally, there is a Facebook group that goes along with the membership for continued support.
8. Workshops, Classes, Webinars or Teleseminars: You can host online training sessions via a webinar or a call. These can be live or pre-recorded ahead of time. You can set them up as a one-time event or a series of classes or calls. You can also create a workbook, worksheet or offer a PDF to go along with the program. Check out my free class, “How to Create Your Own Business in 30 Days” here.
9. Group Coaching Programs: Instead of working one-on-one with clients, a group coaching program is designed so that it’s one-to-many. Similar to a series of training calls or classes, you could offer a group coaching program and customize the content for your group. This can be designed in multiple ways. You can take your group through your program week by week where you deliver great content via email, a webinar, a call or a recorded video or audio. You can then follow up with Q & A in a separate call. Or, if delivered live, then make sure to save time for Q & A at the end of each session.
10. Live Retreats, Seminars, and Full Day Immersions: Take your training programs offline and host a group in person. Book a conference room, event center, or restaurant to provide workshops and training.
11. Paid Challenges: Offer a program in a challenge format where you can offer advice, tips and trainings. Challenges can also be delivered via email, inside a Facebook group, or live on Periscope. They can be 5 days, 7 days, 21 days or 30 days.
12. Printables: Help your audience and monetize your brilliance with printables. These can be worksheets, graphics, digital downloads, PDFs, planners, workbooks, art prints, or lesson plans.
13. Digital Templates and Patterns Do you have a system, template or pattern that others could benefit from? Create a template and sell it.
14. Stock Photos: You could create stock photos for bloggers and businesses. There’s a huge market for authentic stock photos. Find a niche and start snapping. You can even create a membership site where you send new ones out every month for a subscription fee.
15. Sponsored Content: Writers, bloggers, vloggers and podcasters, it’s time you monetize that great content. Can you create a series of blog posts that would be perfect for a sponsor? Or can you repurpose content you’ve already created to a specific page on your site? Do you have an automated email series that goes out each week about a specific topic that would be a great fit for a sponsor? Podcasters and those of you with a YouTube Channel, it’s time to pitch sponsors to ensure you’re monetizing all of that knowledge you’re giving out each week.
ARE YOU READY TO GET STARTED? If so, check out my free class, “How to Create Your Own Business in 30 Days.”
Today, I’d love for you to share with us three things.
1) How do you currently monetize your business?
2) Do you have or have you thought about creating a digital product or program?
3) What is your biggest struggle when it comes to creating or selling your digital products and programs?
Have a great week!
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