Have you ever created a program, course, or new service, sold it once, and then just let it sit there, not making you money? 🙋♀️I know I have!
Monetizing your programs and products involves three things:
- Not missing any natural opportunity to add monetization and thinking outside the box.
- How effectively you inspire people to share your content.
- How many of the right audience members you can reach.
Here are 17 ways to help you boost your program and product monetization more effectively.
1. Understand the Power of Facebook Groups
If you have a membership program or course, the most important thing to do is add a Facebook Group for your members or students. Use it to deal with simple customer service issues, get feedback, answer questions and create Facebook Live videos and easy polls. Make your Facebook group a closed group: A perk for paying members only.
Position it as a chance for your followers and subscribers to gain personal access to you. Then make sure you turn up and engage. The small amount of time you invest checking and responding to your Facebook group will bond them to you more strongly than any other strategy.
2. Use Facebook Groups to Find Hot Topics
Using keywords to search for Facebook Groups is a really quick way to find out which topics are blazing-hot in your niche or field. Use a specific topic-based keyword, plus “group” and any other relevant keyword (such as “support”).
If there are more than one highly-active groups coming up in your search results, start planning to create a product or program around that topic right now, and start researching further. (Remember also to scan the “Discover” feature when you click on the “Groups” link in Facebook’s left-hand, vertical menu.)
3. Keep Up with the Latest Social Media Changes
You thought online marketing was changing quickly, the last few years? Well, thanks to significant and life-changing or society-changing events, social media (the heart of internet marketing engagement tactics) is changing even faster than before.
Save yourself time keeping up with the changes. Instead of following every single social media platform blog for the latest news, just subscribe to and read Social Media Examiner instead. You’ll find out what’s hot, what’s no longer not, and what’s new within the same article. Then you can choose which news items to check out further, based on how much they are going to affect your marketing strategies.
4. Realize that Titles, Headlines, and Email Subject Lines Really Matter
Whether or not people read your email is dependent on one single factor: How effectively your titles, headlines, and subject lines catch their attention. You could craft the best OTO (one-time offer) in the world to add to your membership site or landing page, but if your prospect never bothers to open your email or read your post, or worse, skims over your contact attempts without even seeing them, your efforts will go to waste.
5. Use Tools to Help Focus Your Targeting
There are many apps, resources and tools out there to help you focus your targeting: For example, Aminstitute Headline Analyzer and CoSchedule’s Headline Analyzer (both free). Take a minute to run your headlines through the former to gauge emotional impact and appeal, and the latter to utilize CoSchedule’s powerful analytics for top-performing headlines.
6. Pay Attention to Which Social Media Platforms Work
Don’t bang your head against the wall trying to use one particular social media channel that drives hardly any traffic to your membership site or landing pages. Instead, focus on the two that work the best for you and increase your efforts there.
7. Pay as Much Attention to your CTAs as to Your Headlines
When it comes to calls-to-action and buttons you want people to click, these should be as carefully optimized and tested as any headline. Use power words. Know what emotions you are aiming to trigger. Split-test to see which ones perform the best.
8. Focus on What You Do Best
The real secret to selling success is to be observant of which strategies and offers bring results for your customers and for your pocketbook and reputation.
Focus on repeating that formula consistently, and don’t waste your time chasing the next big trend.
9. Understand how Social Media Helps with Monetization
When you engage with a Facebook Group, you have a built-in trust factor already going for you when you drive people to your offers. Your members are more likely to see offers you present as wonderful resources only they know. They feel special (and maybe just a tad smarter than people not in the group).
Take advantage of this by using your Facebook Group to introduce them to new products. Do Facebook Live reviews. Seize the chance to answer a question or respond to frustration with your new product as a solution, focusing on its benefits.
By the time they actually reach your sales page, your members are ten times more likely to be already ‘sold’.
10. Suit Facebook Ad Strategy to your Offer Type
Knowing what type of ad strategy to use can make your ad offers virtually irresistible. For example, discounts work best on storefront items; exclusivity on high-end program invitations; quizzes on your absolute ideal member or customer.
Add the right graphic, one that shows the benefit you’re talking about, and your chances of click-throughs increase even more.
11. Use Benefit-Driven Ads, CTAs, and Titles
To truly reach the most strongly-motivated and ideal member, customer or client, make sure your ads, CTAs, and Titles address two key issues: Identifying the most insoluble or frustrating part of their big problem, and focusing on the strongest benefit in your solution.
- Title example: How to Conquer Fear and Find True Love
- CTA example: Are you ready to find the love of your life?
(Now, isn’t that last CTA better than “Sign Up Now”?)
12. End Guesswork with the Right Analytics Help
If you find a particular analytics suite confusing, view your data on another platform instead. Choose your CMS platforms for their data tracking simplicity and convenience. Look at this area first, before choosing your platforms and tools. Don’t go with the platform that everyone says is the best if it doesn’t ‘click’ with the way your brain works: Choose the one that gives you the clearest understanding, the most relevant and useful data, and works best for you and your business.
13. Use Pinterest to Increase Interest
Pinterest monetization has fast become one of the hottest new strategies for increasing sales. Realize that Pinterest is a powerful search engine, rather than a social network. People go there to look for things. Put keywords that will bring them to your posts or landing pages right in your pin description. Pinterest is basically free advertising.
And don’t scrap all your old pins automatically. These have an incredibly long half-life of years or more (compared to about twenty minutes on Twitter!) Instead, choose old pins you can use, edit the descriptions and include specific keywords. If you need to, replace the images, and re-pin.
14. Use Boardbooster with Pinterest
This powerful service doesn’t just boost your pins, it also helps you quickly clean up your boards, remove irrelevant pins, join relevant tribes, help you find the right pins to curate, and more. Since at least 70% of your pins should be other people’s pins (chosen and curated strategically) this can really help you with your targeting.
All this, plus Boardbooster makes pinning strategy easy.
15. Don’t Make your Membership Site your Main Offer and Focus
Instead, make sure you offer a powerful benefit, something concrete, straight away. For example, instead of trying to persuade them to join your Sound and Music Club, offer them 100 custom-composed royalty-free tracks. Sell this package and tell them it includes 3 free months in your Sound and Music Club, and they can cancel any time.
This is a proven way to get people to join your club, feel like it’s a bonus … and end up staying as part of your awesome community.
16. Price your Membership Site Strategically
People are so saturated with essential subscriptions, high-end courses and hefty monthly membership fees that they really think twice nowadays about joining yet another site and committing to more monthly-recurring payments. Consider making your monthly recurring fee low enough in your market’s eyes to be a no-brainer, and retain and nurture them with amazing resources and wonderful offers, trickled over successive months.
You want their reasoning to be, “If I quit this club, I’ll really miss…”
17. Provide More Than One Way to Access your Content
Consider adding other forms of access to your content. For example, if you’re teaching via video modules, have two simple buttons below each video, also providing an audio file or a PDF.
Be sure to mention this in your posts or landing pages. Sometimes being able to choose one’s preferred form to access learning makes all the difference between buying or leaving. (And they’ll remember you do this too, the next time they see an offer from you.)
18. Remember that YOU are Your Business
Why do some people go to a particular coffee shop, even over one that is closer? Ask or observe, and you’ll find it comes down to the people. Which would you rather go to: A place that is sparkly-clean, with cheerful, fast baristas that know your name (and order), and happy, positive customers whom you also get to know … or one where the windows are always dirty, the staff gets your order wrong, lineups are huge and everyone seems to be in a bad mood?
It’s the same with your business. YOU make the rules. YOU set the tone. YOU create a culture of efficiency, great products, and a friendly, inviting atmosphere. That’s what it really means when experts say “be yourself” and “live your passion”.
There is no greater fulfillment than seeing happy people return regularly because they trust you to make their lives better and get it right. That’s the real secret of retaining repeat customers that are happy to spread the word!