Every time I look at the extra money I could potentially be making, I look towards ads. Then, I quickly realize that there is a better way, and ads are not the answer to making six figures every year. The answer to making money with a blog and more money in general is with products. By having more products available to your potential customers, the more likely they will become returning customers. There are three products you need to sell. Having these three products available will guarantee that you get more returning customers and bigger commissions.
- The inexpensive product. Depending on the product you are selling, the price of that product can be anywhere from $1 to $49. You want this product to be one that generates a high volume of sales so people read your content and become interested in what you have to say.
- The subscription based product. This type of product generates a recurring revenue because members pay on a monthly basis. If you have 10 members who are each paying $100 every month, you would be making $1,000 every month. You need to have a recurring revenue strategy added to your business plan so you can rest assured that a product is going to bring in more money.
- The high-priced products. A high-priced product gets less sales than an inexpensive product but brings in more commission. It is easier to make $1,000 every month selling a $500 training course than it is to sell a $10 book. You only need two sales for the training course while you need 100 sales every month for the book. High priced products make it easier for you to reach certain goals with less sales, but in order to have a high-priced product, you need to put in an immense amount of work and effort.
These three product options will satisfy your potential customers. Many of them will look for a low-priced product. That’s when the inexpensive book or training course comes in. In addition, others will want a subscription based product that gives them value so they can avoid an expensive product. Finally, there is the high-priced product for anyone who has enough money in their pockets to get the best product you have ever launched (it has to be your best one). Having these three products and creating more in the process will allow you to make six figures every year. That definitely beats advertising!