3 Methods For Your Monetization Strategy
Today I am going to give you three primary methods to increase revenue and customer value in your business.
This is where your monetization strategy begins.
There are only three ways to really increase revenue in a business.
I am going to give you each of these and break them down for you:
- Increase number of customers – You have to ask yourself – What is my optimal customer acquisition offer and process? Your focus must be on creating the optimal customer acquisition strategy. This should be priority #1. You can create a low entry- low barrier offer with low commitment with a variety of offers. Bring customers in with a lower costing item and you will have a greater chance of converting them to a higher priced item later.
- Increase number of transactions per customer – You have to ask yourself – What else can I sell to my leads? What subscriptions can I offer my leads? – For this offering a subscription, info products, software, tools, resources, some additional training, consulting, or seminars would be great to increase the number of transactions per customer in up sells.
- Increase of Transaction per customer – What can I offer that costs more, provides more value/access with greater profit margin? – You can offer a variety of products or services that range in value. More value, more access, and more exclusive done-4-U type services.
All three primary methods, if used together properly, will greatly increase your business revenue and bring value to your customers for months and years to come.