Have you heard the phrase, “Make money while you sleep”? It’s a common phrase thrown around the internet marketing world that describes the power of passive income. Make an online course this time but reap the rewards for years to come.
Passive income can benefit absolutely everyone, no matter what type of business you have or what type of entrepreneur you are. The key is to create an online course that serves your audience and gets results. And if you’re just starting with online course creation, it’s important to keep it simple. This means you should focus on your area of expertise and solve a common problem among your audience.
Let’s review why savvy entrepreneurs need to create an Online Course:
Supplement your income when a client cancels their contract. No one wants to think about losing a client (or two!) but it happens. Instead of panicking at the idea of finding a new client to fill that space, you can approach the task calmly, knowing you have passive income to fill that gap temporarily.
Expand your name recognition and attract new buyers from your target audience. The world is a big place and you always have the opportunity to reach new people in your target audience. Using your products as a giveaway or pricing it on the low end will entice these newcomers to learn more about you and your coaching practices.
Attract speaking or media engagements. Event organizers and reporters are constantly searching online for speakers or interview subjects. If you have online courses as part of your business and have a consistent marketing plan, the media will likely find you faster in their online searches. Adding these events to your media profile will immediately elevate your authority level, too.
Lead your prospects through a sales funnel, ultimately leading them to your more expensive services. A sales funnel is a must-have for entrepreneurs because people want to know about your practices prior to paying hundreds or thousands of dollars on a service package. Showcase your expertise with courses first, then entice those buyers with your higher priced service packages.
Use online courses as part of your overall marketing plan. When you have an online course, you can run promotions which garner lots of attention on social media. Offer a freebie, a bonus if they buy a service package, or offer a chapter of your ebook as a teaser to entice them to buy. Unique promotions will attract attention from new prospects in your target market.
Ready to create your passive income empire? Sign up for our free Course Strategy Session, where we get to know your course goals and how we make that a reality in 2020.