When the 2008 recession hit, I made several rapid changes to my superfood business that saw us not only weather the storm but increase our profit and serve even more clients than we did before the recession.
And during this time of change, you can do the same. Here are some ways to help your business come out on top.
Build a club
I’ve noticed the cost of Facebook Ads creeping up recently. Some of it is due to the tracking issues caused by Apple, some of it is over saturation of advertisers.
So I did some experiments, and created a low cost business model that you can implement today to make good money.
I taught it to hundreds of registrants a few months ago. If you missed it the outline is this:
- Create a workshop series over four days, add a few extra days if you wish. The workshops don’t need to be longer than an hour each unless you’re like me 👸
- Fill it with about 500 free registrants using Facebook Lead ads, which are super easy to set up.
- Sell your club plus two big upgrade options. About 10-20% of registrants will buy using this method because they will get days of live exposure to you. The upgrades will give you instant revenue, and the club subscriptions will give you recurring revenue.
I recommend my clients create clubs because it gives them recurring revenue which stops that feast and famine that’s so common in online business.
I also taught how to do this if you have no ads money, and what you need to prepare to get there.
After you’ve done this once, you can launch several times a year to reach your goals, then pull back to launching twice a year because you’ll have some recurring revenue to rely on.
I spent just £3,100 (about $3,700) on Facebook Lead Ads (that I tweaked to get a higher quality of sign ups), and took $29,476 on my small launch using this system. I never do big launches because I don’t want to… I have my monthly recurring revenue and these small launches top me up nicely.
That’s a 780% return on ad spend!
Would you love that? Imagine doing that just three times in a year!
Would that pay for your life?
It means you can start from scratch with no list, and with no social media fans.
And this system also builds your email list, so those who don’t buy straight away will warm up and possibly buy later on.
But you don’t always want to be launching and paying for ads so you could always….
Have you thought about going back in time?
While social media is more difficult to get traction on than ever, traditional media is crying out for new business and stories.
Start with approaching your local newspapers, magazines and TV shows. Make sure you’re ready, though: Get a press pack on your web site, and check that your online presence looks professional.
When you join us in And Breathe, my special guest Star will give you a press pack template that you can fill in alongside her live so there’s no space for mistakes. She will also give you some radical mainstream media visibility strategies, and there’s time for a Q&A with her!
Millions of people will come from those mainstream media channels, and search for your offers online, so be ready.
Supersize Your Offer
When a recession hits, we can easily think everyone is in the same boat, but they aren’t.
Money doesn’t disappear, it just moves.
And once you connect with those who are thriving financially, you can make high end and premium offers.
I have an offer for $77,777 on my web site! How many of those do you think I need to sell to meet my monthly needs?
Recently I worked with my client Tara on how to create a premium offer for $25,000. Until I got my Whiteboard Of Love out, she just couldn’t imagine how it could be done.
It was a group session and everyone who was live got to chime in and also started creating their own premium offers. Andrew, my pilot client is just finalising his mentorship for young aeromodellers as a result of me encouraging my clients to add this business model to their offers.
Imagine rotating these offers when you want to make more money:
- A club (for recurring revenue)
- 3 x 1-1 offers
- 1 x premium offer
Because once you’ve built your email list (like I’ve mentioned above), you can just email that list to say you have a space available in your 1-1 offers. You’d then invite your audience to Zoom with you, to see if it’s right for your both.
No launches or ad spend needed for these, so that pushes your ROAS up even higher.
Make The Most Of Your Existing Clients
Your existing clients already know that you help them, and so they trust you. That’s why it’s much easier to make new sales from existing clients.
Recently, I ran a group coaching experience. I was tired afterwards so didn’t want to go into a full on launch for a new thing.
That’s when I had the idea for Continuation Implementation, a way that my clients could complete their work with me.
I offered three options, the final one being group implementation plus ten 1-1 non-expiring coaching hours with me.
I never offer that, but these are long term clients and they are a joy to work with.
Just by messaging these clients individually, six of them bought that deal, which put $6,000 straight into my bank.
Don’t be afraid to create new offers for existing clients based on your energy levels, what you love doing and what your financial needs are. So long as you know it’s going to help them, do it!
I’m encouraging you to take fast action on these recommendations, because in tough times, you need to think on your feet.
PS: Yes there will be gifts and bonuses galore. It’s all explained here. Read it now before you get distracted.
*No income claims made or implied. These are encouraging words only.