Recurring Business Model
The big shot IMer was shocked when I told him that over the 5 years I managed to build 110 buyers list and turn it to 8K/month recurring income using a very simple recurring business model.
THANK YOU BARB!
Before we get going, I have a disclosure and a thank you to say, as this post was inspired by a lovely Internet Marketer by name Barb Ling. It is related to her recent product release that talks about the mindset and how to go about changing yours so you can finally start making money from your online efforts… Due to her amazing course, I wanted to explain how my mindset set me up on a recurring business model using just 110 people that brought in 8k+/month recurring income. So here is the full story!
You see, even though I am now known as someone who launches products and has had a lot of success with Internet Marketing, I was successful way before I got into launching products. And to be honest I did not really need many affiliates to make it happen. It was all about setting it up correctly. AND for most, that is the hard part. So let me share the step’s I’ve taken to make it happen.
I know a lot of people will say, give out a small short report just to get the list… BUT I will say, that is not right. Give out a QUALITY report in order to build trust. You want your new subscriber to be like “WOW, I can not believe he or she just shared with me for free”.
My partner and I were giving out 40 pgs+ quality content which we updated on a frequent basis. This report was eventually distributed to over 15K people. What Barb explained in her course is exactly that. The emotion you have to get out of your subscribers in order to make money.
What services to offer?
There are many you can choose from… Such as driving traffic, SEO, PR distribution, reselling other people services at profit margins you choose, managing social media for companies and so much more.
At the beginning of my recurring service business, I’ve actually used free tools to provide the service… NO, it was not automated at first, but I was testing out the waters, trying to see if I would get customers? You do not have to buy every tool on the planet to make your online business work. You just need few tools to make it happen. I was using Aweber and I made use of plenty of free tools or free trial tools to get off the ground.
FORUMS for a quick test!
Forums are the best way to test out if you have an offer that is high in demand. WHY? People often engage there. So whatever you are starting with (before you spend too much time on setting everything up) test out in the forums to see if you can get buyers for the services you are offering. You can even offer 2-3 review copies in an exchange for a testimonial. Setting up a post on Warrior forum is very easy. Make sure the testimonials are from people who have some authority on that site because later on, those will look much better on the sales page ;-).
When you see you have people interested in your service, start working on the funnel. Get someone to write a professional sales page. And have smaller pricing and higher pricing options available. I prefer to use Insta Builder as well as Optimize Press for my pages. It works great for me and I look very professional. Keep in mind…I am not technical at all and graphic design is not one of my skills 🙂
Give back value through content!
Some people are not interested in setting up a blog… And I can understand that…BUT my experience showed that I was getting more of my e-mails opened because of the blog. In addition, more people were buying from me because they trusted me. The setup of my follow up sequence was like this: 3-4 pieces of content followed by 48-hour promo. When I mean promo, that means, to my subscribers I would offer a discount on the SEO services we were offering a the time. Often times it was 20% off. For those offers, I would create a special buy-in page, (so not the same page as on my main site.)
However, one thing that really helped me to get people buying $297/mo packages, was having a small package that cost 19.99/month as the first test type of package.
How to get people to your site?
You don’t have to spend too much money on the traffic if you don’t have a budget. Traffic sources we used were very inexpensive. Here is the list of those: Warrior forum posts in classified ads, banner space in 2 active forums, our own in-house affiliate program paying 20% commissions recurring, ad swaps with a free list. Forum signature with an opt it. Most of our advertising was costing 20-30 bucks per post or per banner ad.
The boost to our sales!
Due to customer service that we were providing, people loved us… They were actually referring our services to others without getting paid any commission.
Why am I posting this today?
I am actually about to repeat this same process with a new service. I will follow the same steps and I know it is going to work. My goal is that you will read this post and get inspired to start building your own recurring business model.
It works, you just have to implement. Oh and that is another thing Barb Ling said in her course… YOU are in charge of what happens with your business. Follow the right people, follow the right plan and see as you grow.
To your success,