How To Nail Down Your Monthly Fee Structure
Oct 08, 2021 12:01 pm
Hello ,
It's been pretty interesting hanging out with my current students at the Brand Acceleration Workshop...
This morning I got feedback from one of the participants who based on the results of her Tribemaster Quotient assessment...
Renegotiated her offer with her current clients and made an offer for something that was a lot more aligned with who she is and also pays her more...
3 of her current clients took her up on the current offer..
The others opted to leave and get a partial refund...
Here's the funny thing...
Even with the refunds...
She's left with 4x what she earned when she was serving ALL her clients at the previous level!!
It's pretty amazing what happens when you get aligned.
Anyways...
Back to our conversation about recurring income..
So far you’ve been planning your recurring revenue program, including your niche, the topic you’ll be focusing on, and even how much you intend to charge for access.
Now here’s the next question: in what format will you be delivering your content?
This email is all about content options.
Check out these 12 ideas for monthly deliverable that your customers are sure to love…
Idea #1: Training Articles
Here you can deliver training articles via email, or even post them on a private blog.
You might aim for one per week, for a total of four per month.
For example, if you have a program covering online traffic generation, each week you may send out a new article covering a different tactic (e.g., Facebook marketing, pay per click marketing, SEO and guest blogging).
Idea #2: Report
Here’s where you deliver a report, typically to teach someone how to do something.
E.G., for a weight loss site, you may deliver a report that teaches members the most effective way to do HIIT (high intensity interval training).
Idea #3: PLR Licensing
This is where you deliver content with licensing rights, which means your customers have the right to modify, giveaway and/or sell the content in whatever way suits their business.
Your PLR content can take a wide variety of forms, including:
- Ebooks
- Reports
- Articles
- Emails/autoresponder series
- Sales letters.
And similar.
You might even deliver a “business in a box” each month, such as an ebook with PLR licensing, a sales letter to sell it, and extra marketing materials such as blog articles and emails.
Idea #4: Accessory
These are tools that you provide to your members.
These accessories may take the form of:
- A checklist.
- A worksheet.
- A template.
- A swipe file.
- A planner.
- A Mindmap.
- A cheat sheet.
For example, every month you might send fitness members a new set of meal plans that they can put to work.
Take note that you can deliver the same type of accessory every month (such as delivering a planner each month), or you can deliver a different type every month (e.g., a planner this month, a checklist next month, a
worksheet the month after, etc.).
Idea #4: Toolkit
Here’s where you deliver a new collection of tools to members.
These might be tools your members use directly, or tools that your members pass onto their customers. (Such as when you provide meal-planning tools for fitness trainers to pass onto their fitness clients.)
For example, you might give marketers a new toolkit each month, such as:
- A copywriting toolkit that includes things like sales letter templates, headline swipes, and a copywriting checklist.
- An SEO toolkit that includes keyword lists, a WordPress plugin resource guide, content templates, and a search engine optimization checklist.
Here’s another valuable deliverable…
Idea #5: Group Coaching Q&A
Here you provide answers to your members’ questions, which you deliver in a group-coaching setting.
You may deliver these questions and answers by email, on a private blog, or inside a private group.
(Note that delivering them on a blog or in a group/forum is preferable so that members can ask follow up questions. This interaction helps create loyal members!)
Where do you get the questions?
Primarily, you can solicit them from your members. You can also answer frequently asked questions that you’ve encountered in the past.
Idea #6: Video Tutorials
Video tends to have a higher perceived value than text-based content, which makes this format a great choice for higher end membership sites.
It’s also a great option when you need to demonstrate something to your members.
For example, if you’re teaching about classic car restoration, you can present a new tutorial every month that teaches people how to do things such as replace the headliner, fix the horn, convert a car from 6v to 12v charging systems, and similar.
Idea #7: Ready-Made Lessons
This is a “done for you” offer where you create lessons for people to use to save time and money. For example, you can create:
- A set of lessons for Bible school teachers.
- A set of lessons for daycare providers to give to kids for educational enrichment purposes.
- A set of lessons for “continuing education” teachers to give to their adult students.
- A set of lessons for marketing teachers to give to their weekend workshop students.
And similar.
Idea #8: Podcast
Audio tends to have a higher perceived value than text content, which makes a podcast seem more valuable than a comparable article or report.
Indeed, you can deliver “how to” and other content via a podcast.
This strategy is even more beneficial to members if audio enhances the delivery.
For example, if you’re teaching people how to speak French, then obviously this is easier to do via an audio as opposed to text content.
Idea #9: Newsletter
Here’s where you deliver a newsletter via email every week or every month.
Typically, a newsletter has multiple pieces of content contained within it. For example, you might create a weight-loss newsletter with one featured article on the topic of eating “clean,” alongside a shorter article about cardio exercise, and a couple smaller features (such as three low-calorie recipes and a meal plan).
Idea #10: Mastermind Group
Here’s where you pull together like-minded individuals who can help each other achieve a similar goal. For example, you might put together a group of aspiring entrepreneurs who can bounce ideas off one another (and you).
Idea #11: Graphics
Here you create graphics for your customers to use directly (such as bloggers who need graphics to place on their own blogs), or for your members to give to their customers (such as ecover designers to use to create Kindle book covers for their clients).
Your Turn
Time to plan your content.
Ask yourself this: what types of deliverables would best serve your business model, your audience and the type of content you need to deliver?
Keep in mind that you can deliver a mix of content. For example, you might have a site where you deliver a new training article each month alongside a group coaching session.
As such, detail your strategy thoroughly…
Till tomorrow
Play a bigger game
CTM
PS:
I have spots open for the 97day challenge in January 2022 right now.
The goal is to help you create, sell and deliver a high ticket transformational program at the $3k, $5k and $10k+ levels and ultimately lay the foundation for bringing $10k a month in revenue.
Think you might like to join us?
If you'd like to lock in your spot at an early bird rate of N650,000.
Hit reply and let me know. If you reached out yesterday...I'll be in touch today.
NOTE: This early bird offer ends October 31, 2021.
PPS:
The Brand Acceleration Workshop comes up in November.
Specifically November 1st to 5th 2021.
For $100 or N50,000...It's pretty much the best marketing/sales training experience for coaches, consultants and trainers this side of the world.
If you'd like to be an affiliate and get rewarded with a 50% commision for helping someone improve their business...
Hit reply and let me know so I can get you all set with an affiliate link.
If you've already reached out to me...be on the lookout for notification from Selar today.