Let me tell you about Maria.
I just learned about her in the last couple of weeks. She's had massive success in a category everyone says is dead.
Not only has she had success in the "dying" category, she keeps making more and more money every month.
I'm talking about Maria Wendt.
She fumbled around in the beginning trying to make some wifi money. Then shifted to be a business coach to women. She had her first success - even growing to $1m a year.
That's amazing in its own right as only 15% of US businesses ever make a $1m a year.
But the success she built didn't fit the life she wanted to live. She had created a business model that took all of her time. Even with a group program, she unfortunately designed it to be too high touch.
Then she got pregnant.
Realized she wanted to spend her time with her soon to be born baby.
In less than 9 months, she rebuilt her entire business... to sell low ticket info-products.
When I say low ticket, I mean really low ticket.
Her main product that brings in new customers is 24 Courses For $24.
She is currently bringing in $1m per month selling courses that cost between $24 to $300.
Amazing, right?
I've been teaching you about the best business model for experts like you and me called Clients, Members and Customers that serves all your buyer segments.
Maria went after Clients first. High ticket, high touch clients.
Burnt that down to go after Customers only.
But recently she has been growing her Member segment and looks like she might include Clients again.
Why bring back a group program when it used to take all of her time?
When designed to meet your lifestyle -- knowing what you will and won't do for money, you can create a far more profitable business if you provide solutions for the 3 buyer segments you have.
I recommend going for Clients first instead Customers.
Clients swing big doors with little hinges: a lot of money, quickly, from a few buyers.
But they also give you the unique experiences, processes and procedures (intellectual property) that your other segments desire but can't afford.
Next it makes sense to start offering a product or two for your market to buy. Customers may not make you much of a profit (though Maria shows it can be insanely profitable), but they will spread your message far and wide inside your market.
This builds your authority making your Client services more valuable (aka you can charge more).
But the cool thing is you've got a lot of intellectual property that is worth a lot to a segment that isn't ready to become a Client.
Members are going to be your most profitable buyers. You can deliver high ticket Done With You services to hundreds of members simultaneously.
That's what Maria is focused on now... with a members program that costs 16 times more than her most expensive info-product, while requiring very little of her personal attention.
I believe she said this program is already doing over $500,000 and is on track to exceed $1m in its first 12 months.
She's able to grow this segment fast because she has a LOT of pent up demand from her Customers. Many have wanted more in-depth training that info-products aren't able to provide.
They've been asking for it for several years. <-- a lesson all on its own
The power of Clients, Members and Customers is it maximizes the revenue you can generate from your market... without consuming your time.
I'm assuming you've already got a stack of Clients.
So what knowledge have you gained that you could turn into a low-ticket product?
It needs to solve a single problem and be easy to consume.
Repackage your knowledge. Pitch it to your market.
And your market will promote you.
t
0 comments