
Revenue Not Flowing Like It Used To? Here’s The Fix.
Loading summary
A
Hey, there. Welcome to the Amy Porterfield Show. Sometimes you need some new skills, some new knowledge in order for the next iteration of your business to unlock it might be counterintuitive. You're like, Amy, you're supposed to be telling us how to make money, not spend money. But this is one of those situations where you might need to spend a little money to actually make more money. And I call it like the next iteration of your business because you might create something you never even thought was possible based on your newfound knowledge and skill. Every single quarter, I meet with my leadership team for two days, usually in person. This one that's coming up soon is at my lake house, which is always a little bit fun. So we. We do work and then we do some fun out on the lake as well. But every time we do a retreat, no matter where we have it, we check in on one thing always, and that is our revenue and profit goals. So there's no retreat where we haven't poured over the numbers. And we're looking at, okay, are we ahead? Are we behind? Like, what's working? What do we need to shift? And I'll be honest, this year, those conversations have felt a little bit heavy because not only do I see some shifts in my own business, but I work with a lot of people who are also seeing some shifts in the online space. We've talked about it before on this podcast. I'm not going to shy away from it. We're seeing buying behaviors, meaning people are taking longer to buy, they're more skeptical, there's less trust. We're seeing lower conversions. Not everywhere. I'm not seeing this across the board and everywhere in my business or across the board with every student that I work with. So. So some people are thriving this year, but the majority of people that are marketing online are starting to see things like what we used to do isn't working as well anymore. So the online landscape is changing for sure. What's interesting is I don't think anyone has totally figured out where we're going to land. Like, in a few months, I think that we're going to see some shifts. We where kind of like on the uptick. That's what I'm hoping for. Not just like, oh, let's cross our fingers, but I just see some things shifting. People are kind of changing how they're marketing online. Some of those things are really going to stick and pick up. So my hope is that in a few months we start to see things going the other way. But my big prediction is what used to work in the past, let's say two or three years ago. I don't think it's going to just start to work again. I think we need to start looking at things differently, and I want to be at the forefront front of that and to deliver strategies to you on this podcast, saying, I've watched this, I've done this, we've experimented with this. Here's what's working. So stick around. Because we are obsessed with what's going on in the industry, in my business, and I do believe it's going to create more opportunity. I actually believe that we're going to be able to have some fun with new strategies that we haven't tried before. So if you've gotten bored with your business, if you've gotten frustrated, overwhelmed, you love creating creativity, you love variety and changing things up. Well, hold on, my friend, because I do think you're going to get to experience some new ways to market online that might breathe some new life into your business. So let's be optimistic. Let's look at at it from that angle. But we're not there yet. And so I wanted to create an episode where we could talk about, okay, right now, where while we're figuring it out, while we're experimenting with some things, let's go back to what I know works to make sure that you hit your revenue goals this year or at least come really close to it. And so I wanted to just address that on the show today, but also keep things simple. So I'm not going to throw a big bunch of strategies at you that you've never heard of, or you're like, whoa, whoa, whoa, that's going to take forever. Instead, I want to just kind of face what's going on, reframe our perspective, which is essentially what I just talked about, but keep moving forward. Now, I want you to be experimenting. I want you to be watching what other people are doing. I want you to get excited about new opportunities. But again, I'm a tried and true kind of girl. And when there's strategies that I just know work again and again, even with a changing landscape, then I'm going to have you build your foundation right now on these strategies while you get to experiment and see what might be new or different or what your audience responds to. So that's kind of how I want you to look at these seven ways to make money now to make sure you hit your goal by the end of the year. But I will say this. Stick around with this podcast. Stick around with my new newsletter. If you're not on my email list amyporterfield.com/forward/newsletter it is going to be full of new ideas and new strategies as we start uncovering things. So do not miss the newsletter. It's one of my most favorite things I create. Every single Tuesday I send it out. But we are going to be shifting in that direction. I think there's just a new era of online marketing on the horizon. We're just not there yet. So let's make our foundation strong and then that will make room for some of these cool things that we're going to get to experience in the next few months and beyond. Okay, so with that, you look at your numbers and you think, holy crap, I got to make some money. What I've been doing hasn't worked as well as I had hoped. Things still working. Just for the record, I want to be so clear and shout it from the rooftops. The way we're marketing online is not like not working. It just might not be working as well. I have many students who are doing solo webinars that have crushed it. I have a student that just hit a 16% conversion rate on a webinar. I have another student in my Milli club that just did a boot camp where she sold, I think it was a $3,000 program, had her biggest launch yet, over $350,000. I mean I see success everywhere I look, but again, I also see my students struggling. And so let's not throw out all of the strategies, let's continue to use them but also find other ways to close the gap if needed. That's where we're at right now. Okay, so this first strategy, you know it. I'm not going to teach you anything like earth shattering today. However, I am going to remind you what still works. Number one, offering one on one or group coaching sessions. Nothing like for the next year. It doesn't have to be super deep. It could be a quick coaching package, but this is a way to bring in revenue. So this offer is performing well because it's personal, because of AI and because of the shifts we're seeing. When you are able to offer more personal connection to your audience. A point of view. AI does not have a point of view. If you're able to offer coaching that's backed with your own experience and your own results, this is what is selling right now. And so either you do one on one or you offer group coaching. Whatever you want to do. If you put together a package, I want you to choose a super specific and clear Results driven topic. So for example, if you're in the health space, I don't want you to be offering nutrition coaching if you put together a new package instead I want you to offer, let's say a three session package that helps busy nurses create meal prep routines that they can stick to while working a 12 hour shift. I mean, if that's your niche, if that's not your niche, let's not do that. But I just want to show you the level of specificity so it cuts through the noise and they're like, oh, actually that's exactly what I need right now. And so I think the more specific we can get with coaching right now, the better. So that part feels more personal to them when you do that. Now you want to choose how you want to deliver it. So maybe you'll offer again one on one or group coaching, but is it going to be via zoom or do they get email access to you or voxer access or texting or whatever that might be. And so go to the level that you feel most comfortable with. But the more personal connections you can make or make available in that package, the better. Don't do things you are going to regret, but definitely be open minded to how this might look. I noticed that just offers are looking more personal and deeper than I've ever seen them before. The ones that are working. And of course you're going to price this as to what's appropriate. So first look at the transformation that you're delivering and, and ask yourself what is most appropriate for this. And I always ask what is most appropriate in terms of the value I'm offering and the transformation I'm promising. But also I look at who the audience is and what's appropriate for that audience as well. But again, the more specific you can be and promise bigger results or specific results that they really want. That's what people are paying for. So you can do high ticket coaching right now as long as you're really clear on what your promise is, how you're going to support and add as much of that personal connection as possible. So again, think about the results that you're offering and also kind of do the math. I love to crunch the numbers to see what's possible and just make sure you feel good about that. And then ask yourself, how many packages do I want to sell? How exclusive do I want it to be? Maybe it's like I'm only opening up things, three different coaching spots for the next six months or whatever that might be. Okay. And then to fill it up we don't have to do a big launch, we don't have to do boot camps and tons of webinars. I say reach out to past clients first with a very heartfelt email and maybe even a short video to go along with it. So again, the more personal, you can reach out to someone and say, hey, I know you're doing xyz. I have this opportunity. I'm only offering it to three people. Here's why I think you would be a great fit. I'd be making those videos all day long to people that I know their businesses or I know their circumstances or I know that I could help them. So let's do grassroots. Reach out before you feel like you have to do a big launch. You don't. But you can use your email list, you can use social, you can advertise it on your podcast or your YouTube channel. That's all good as well. Just make your message clear, outcome driven and positioned. In terms of like, what value are you offering? And I promise you there are going to be people that are like, sign me up. This feels different. This feels what I need. People want that personal attention. So to me, this one is the easiest in terms of putting it together and putting it out there without like a big launch or anything like that. Okay, the second thing that I want to suggest to you is to focus on the audience you've already attracted. And in so doing I want to talk about upsells and downsells. So you've always heard that one of the easiest things to do is sell to the audience you've already attracted. Because one of the hardest things to do is to get a cold audience to pay attention right now. And so let's not continue to worry about bringing new people in until we really exhausted the opportunities we have in our own communities. Even if you have a small email list, even if you have a small social media following, there are people in there that you can continue to sell to. Now the traditional way of looking at it, let's say an upsell, let's talk about an upsell first. This is essentially an add on that's presented after someone says yes to an offer you have. So if you're actively selling something right now, they buy it before they get to the checkout page. You put one more offer in front of them. Usually it's a kind of no brainer offer. It might be. Well, it doesn't have to be. It could be like a $37. Well, let me back up. That would be more like an offer bump. An Offer bump would be right. When they're filling out all the information, they can see another offer, like for $37. You want to add this to your offer. Here's what it is. So that's like an offer bump, which I suggest you do. An upsell then would be like they put in all their credit card information. They hit a page before it's like you're officially in. They hit a page that says, hey, I've got one more thing that might be a good fit for you. In this case. You could do something like a no brainer price. But you could also do a VIP opportunity which could be maybe a three session VIP coaching package like I talked about earlier. So you could take that coaching idea, turn it into an upsell. After someone buys something you're actively selling right now, they get a little opportunity to go further with you. So you could play around with that. But that is then going to attract. It's easier to sell, I mean, because you've already attracted the audience they're already in. And now you're saying, hey, do you want this extra little thing? The place I see this the most, that is probably the most annoying is like when if Beachbody sells you something, this is years ago, I bought something from Beachbody. I think they had like 10 different upsells that I could buy afterward and it got to be a little much. I'm not talking about that. You could do it in a classy way, but you've already attracted the audience they already are buying. Let's put one up opportunity in front of them. Either an order bump or a upsell. Okay, moving on to a down sell. What does that look like? Well, this is something that should be a must after every promotion that you do, whether it be a big launch, email promo, social promo, whatever you're doing after you've closed the cart on your offer. Let's say you close the cart on a Thursday, that following Monday I want you to put together an email promo. It could be like three to five emails talking to the people who did not buy and offering them something smaller and maybe more appropriate for where they're at. If they felt like they weren't ready, they felt like they weren't perfect for the program, but they really want to still be in your world and learn from you. What do you have that could be the step down from what you sold them? And you can get really creative with this. You could create something that you don't have, but it's kind of easy to put together. You could do something like we're going to do a 30 day sprint together just to get you that Kickstarter you're looking for, whatever it might be. But you can create this package. You can't see this. But Scout just. Hi, Scout. Scout just came back from his walk. You can't see it in the video, but he loves to run in and tell me he's, he's home from his walk. So anyway, these downsells are a great opportunity to support the people in your audience who truly want to be taught by you. They're just not necessarily a good fit or ready for the program. And once you give them that down sell, there's always an opportunity on the back end of it. So to upsell them back into the program they felt like they weren't ready for. And so I love doing something like that. So for example, let's say you have a yoga course and it's $500 and it's everything to get started with a yoga routine and you really get into all the details. Well, anyone who didn't buy, maybe you follow that up with a 30 day yoga kickstart program just to get them into your world, get them started. And at the end of the 30 days they might be ready to say, you know what, I was wrong. I actually am ready to jump into the bigger program now that I've had this Kickstarter experience. So it's a smaller commitment, it's less money for sure, but they still can see the value. And to present your downsell, like I said, once you close the cart on your launch, there's a few days you want to kind of give it some breathing room and then you follow up pretty quickly though afterwards, let's say on a Monday with an email series to everybody who is part of your launch list. They showed interest, but they didn't buy. Hey, real quick, before we continue, a quick word about our sponsor. I've got to tell you about a really cool model that I'm a little bit obsessed with right now. So it's called the working genius model. And I'm telling you it's going to transform your work, your team and your life. And really it will do so by leveraging your natural gifts. So it's an assessment that I recently took. It takes like 10 minutes and the results you can apply immediately. You're going to discover how to increase joy and energy at work by understanding what your geniuses are. And it kind of blew my mind because I thought, this makes sense why I do some things and I hate doing them. And then I do some other things, and it fully lights me up. And it actually gave me permission to stop doing the things that totally drain me, because now I understand why they drain me. So it's really good. So essentially, you're going to get more done in less time with more energy and joy. Yes, please. Right. So you can get 20% off a $25 Working Genius assessment if you go to working genius.com and just enter the code marketing at checkout. So you're going to get 20% off. It's 25 bucks. It's worth every penny, but you'll get a discount. Go to working genius.com and enter the promo code marketing at checkout. Okay, let's get back to the episode. Okay. Number three is something that, again, not totally new to you, but I ask, are you doing it? And that is taking advantage of different affiliate opportunities. So if you have a business like mine or if it kind of makes sense to do what I'm doing, then I highly recommend it. Which is essentially any tool that you're using that your audience would also like to know that you're using. Any tool, resource, product, by all means, find different ways to talk about it and obviously use an affiliate link and get those affiliate sales. So I make hundreds of thousands of dollars a year by just mentioning the tools and. And the resources that I use Now. I could make a whole lot more money if I was more mindful of it. It's not really a focus for us right now. You know, you have to choose where you spend your time. But I know some of my friends who do a really good job. Actually. Jenna Kutcher is really good at this, where she finds opportunities to easily weave the products that she uses into her everyday conversations on social, into her podcast, into her website, into her programs. And this is that we all can do. Now, you might be saying, amy, I am not an online marketer that teaches online marketing. So you can recommend membership, I.O. and, you know, your favorite teleprompter and things like that. Like, it makes sense because you're a marketer who teaches marketing. But let's say I'm a dietitian, and it wouldn't make sense for me to recommend the platform I use for my digital course. Absolutely. You're totally right. However, you're a dietitian, and I can guarantee there are things in your home that you use and you use with, let's say, your children, different resources and tools and products that you love that you could be seeking out affiliate links for and putting them into your business in different ways. So what I want you to do, everyone who's listening, I want you just to make a list of 10 things that you use in your everyday life, in your business, wherever that you think, oh, my audience would actually get value from this if they started to use this or take advantage of this. They would love to know what I'm using and how I'm using it. So make a list so you can get to 10 things and then start seeking out the affiliate links. Most people, most businesses have affiliate links. And then start finding ways to weave it into your social media. The easiest places is social media newsletter. You'd be amazed. Okay, so on my newsletter, this was not an affiliate link, but dang, I wish it was. So on my newsletter, this is how vanilla I am. I was really scared to mention, I think I've already mentioned this on a podcast. I was really scared to mention that I love these THC CBD drinks and they're called Can C A N N. There's tons of different styles. I just was introduced to this one and I drank it and I was like, oh, wait, that kind of takes the edge off for me. Like, I'm not drinking alcohol this year, and I just really struggle with anxiety and I just can't seem to shake it. So once in a while, if I have one of these drinks at the end of the day, just like gives me a little calm. It's not even a buzz, just a little calm. And Hobie's, like, I could actually see a little difference of you, like your shoulders rest, you kind of a little bit more, just relaxed or whatever. So I mentioned them in a newsletter. I was scared to do so. And it was the most clicked link in that week's newsletter. It wasn't an affiliate link, but dang, it should have been. So it's just like things like that that I was even surprised you all were interested. I thought maybe I'd get some hate mail for it. Like, you know, you're. You're doing drugs or whatever. I don't know. But none of you said that because you probably find it valuable as well. So anyway, you just never know. So play around with that. But one thing I want to say before I move on is that you also know that you could find a product or a program from someone you trust. If they do affiliates with that program, you could do really well. And so some of my students who also teach business have promoted digital course academy, and they've made hundreds of thousands of dollars that way or just even if they Made a few thousand dollars that they're just like, this is icing on the cake. So we don't have to go for big numbers. But if you don't want to do products and links to different resources, find one person out there with a great reputation, with a great program that has an affiliate program for their course membership, coaching, whatever it might be, and see if you could treat that as your own. Like put as much effort into promoting that as you do your other things in your business. And it's like a whole other stream of revenue when you do it right. So something to think about. But going all in and really showing what you use can make a big difference. Like if you go to amyporterfield.com forward/resources, you'll see that I do list all of the tools and resources that I use. And. Or you could do an Amazon storefront. So there's a lot of different opportunities, especially now. Like back in the day, I didn't see a lot of Amazon storefront didn't exist in other sites like that. So just take advantage of it. Even imagine if you brought in a thousand dollars extra month. That's like money you can put back into paid advertising or put back into a course you want to buy to get better at a skill. You never know. Okay, so number four is to host some kind of retreat, either virtual or in person or just an in person type of experience. Now this one's kind of big. This is going to take some work and effort, but also, and it might take you fully out of your comfort zone. But. But why I wanted to bring this up is that, remember how I really believe, and I've been talking about it a lot, that people are looking for personal touch points. Not just community, but personal touch points that feel even more intimate than getting to be a big part of a community. And so I really think that when you're in person, especially in person, but you could do this virtually when you're in person, it just brings a fresh energy into your business. It takes your impact to a whole new level. There's real magic in bringing people together. I know this because I hadn't done it since 2019. 2019 was the last time I did Entrepreneur Experience. It was a live event for two days. And if you were there, oh my gosh, I love, I love that because I run into people all the time that say, oh my gosh, I was at your very last live event and it was special, but I haven't done something that big in a long time. Covid hit and I just never went back. However, this year and last year, I now have the made to scale Mastermind for people making a million dollars or more. I have the Millie Club for people making around 500k. Want to get to a million. I have something brewing for someone that's not at that place yet. More to come soon. So these in person events have become really intimate. There's like 30 people at one or 20 people at the other. And the last one I did with the made to scale Mastermind blew my mind. We had a roundtable conversation about the industry and the changes we're seeing and what people are doing that I walked away with like, dang, that conversation was so good. I got a lot of value and I was the facilitator of it. So getting people in the room, talking about the hard stuff, really digging deep, it makes a huge difference. And I want to bring this one up because it's not just for your audience. You're going to feel revived, you're going to feel different. And I'm a girl that doesn't necessarily love in person things and I love them. And so you want to think about, okay, if you're going to do in person, how many people would you invite? Where would you do it? Obviously looking at what would the price point be, keeping it to a smaller group will be more manageable. Not super expensive. But hosting an in person retreat, I said virtual just to make it easier. But really what I want to hone in on is in person retreat could make a big difference. And I'm seeing them pop up more than usual, which in my opinion means they're actually working. So just something to think about and you've got to work out all the details and. But Believe me, using ChatGPT, you could whip up a project plan for a live event retreat, like no problem. So it's just something to think about and just start noticing how often you see people talking about like a mini two day mastermind or a retreat. You saw, you might have saw me talk about on Social. I did one with stu and Amy McLaren for Village Impact, their charity where we did a Mastermind day at the Soho House here in Nashville. It was $5,000 a person. It was Stu and I leading the mastermind. It was so good. But all the money went to charity, which was a really cool thing. But I even love that I wasn't making any money from it, but I was in proximity with all of these course membership creators and great ideas were flowing. So even if you're an introvert like me, Just at least consider it. Okay. Number five, make selling more personal. So I promise you seven different ways that you could make more money. Well, I like to give you strategies of, to build off what you're already doing. So let's say you're selling a digital course or a coaching program or something that is at least $1,000, if not more. Okay. So that's like the cutoff point if you have something that you're selling for at least $1,000 or more. You've heard me talk about this, but I feel like this is a must. So many of my students are doing this now that when you're promoting, offering what we call concierge calls, so. Or a check in call where we invite people who are on the fence about buying our program. They could get on a call with either one of my team members or an alumni of the program just to answer any last minute questions. I want to make sure you feel like you're a great fit for my program before you join. And because the people that are getting on these calls, they've been on my webinars, they had a sneak peek of my program, which I do in every launch. They probably were on some lives with me, maybe part of the boot camp. They're very warm and they just need a human to talk to to ensure that this is the right decision for them. And we usually convert around 70% and it is not even a sales team. So that's what's wild. It's not a hard. If you talk to anyone on these calls, it's never a hard sell. And essentially it's just, hey, I'm here to listen. I know the program like the back of my hand. Such a weird thing. My mom says that all the time. I know the program well. Or an alumni is like, I've done the program. I've had success with the program. So let me tell you about how I did it and let me answer any questions that you may have. It works. So again, if you're wanting to make more money with what you're already doing, put together a concierge team. You can call it a sales team, call it whatever you want. You can even hire salespeople that work on commission. But for me, I did not need to do that. And it converted great. Actually, I'm looking at my notes right now. It's a 76% where I thought it was 70. So it just is an extra way to give people the opportunity to talk to you, but also to really understand if they're right for the program. And move past that potential lack of trust. Like when you got on a phone call with someone, you're like, actually, I feel like I could trust you so much more when you're pitching and catching with someone, so highly recommend it. So it definitely works. And it's one that's very easy to implement. In fact, I have an old episode on the online Marketing Made Easy podcast and I'll go ahead and put it in the show notes. So note to my team, let's make sure we put that in the show notes about building out a concierge team. I actually have a whole podcast episode on the old podcast all about that. Okay, number six, we're almost done here. Is to launch a low ticket offer. Now, I have not done this. This is not the bridge offer, which I talked about in an earlier episode on the Amy Port Field show. It's not the bridge offer for those of you who pay close attention. But this is something like $37. And I have a really good friend and also she has written all of my quizzes. Shanty Zach. And she's a quiz strategist. Well, she's living proof that this works. I have many examples, but I'm just going to give you hers. So she created a $37 offer. $37 offer. And she doesn't have a huge audience, but it's substantial. Like she's been in business for a while. She does very well. For her 37 offer made her $50,000 in revenue. That's wild. And why does it work? Because it gives people a way to engage. They get results quickly with, you know, not huge results, but they get results and they get a taste of what it's like to work with you without needing to commit to something really big. And so this $37 thing, whatever you're creating, I'm making up that number. It doesn't have to be that exact number. It might be a great way to welcome people into your world. I know one of my good friends, I don't know if she shares this publicly, so I won't say any names, but she has a 47 program that leads people into a ten thousand dollar coaching program and she does well with it. And in my mind I'm like, no, you can't take a leap from 47 to $10,000. You can if you nurture them well. You can if that 37 or 47, whatever it is, really meets them where they're at and gives them a quick win and then you nurture them into something bigger. So I have to Say I tend not to teach what I don't know. I have never done this, but I will say I do boot camps that are 37 or 47 and that leads into a different type of program. It's I've done it different ways but anyway I do it through boot camps. So I guess I have done something like this before. But don't be afraid to try out those really low ticket but with the intention of moving them into a bigger ticket opportunity. So if you just go out there with something like $37 and then you don't have any great follow up, you're leaving a lot of money on the table and you need a lot of volume to make money with that. So that's not the end game. The end game is getting them into a more substantial program that will get them bigger results. So if you're just really clear, let's say if it's 3747, but there's one main goal of it, one transformation you're promising really specific, it could go a long way. I would keep it under $50 just to make it a no brainer. And of course you could use it in all the different ways that you promote anything which would be social and email and in your newsletter and just any way on your podcast any way that you promote anything else. You could promote this and also running paid ads to it. It could be a loss leader where essentially are self liquidating offer where essentially someone it maybe it costs almost $30 to get someone to buy it through a meta ad but now they're in your world and now you're going to upsell them into something bigger. So then it will be worth it to you. So it could also be considered, you know, that kind of strategy. So something to think about. And then finally number seven, I'm calling this a bonus one because this one is very different from the others and it's just a different perspective. I wanted to share with you and that is that you might have heard like all these six things and you thought I already done that Amy. That's not really right for me. I just not feeling it. If you're feeling stuck or you're feeling like I don't know, I've heard these ideas before but I'm not super excited about any of them. Then it might be time to reinvest in yourself. And so I say this because sometimes you need some new skills, some new knowledge in order for the next iteration of your business to unlock. And I'm a big fan of reinvesting back into my business. And when I say reinvesting, I mean reinvesting in me. Sixteen years in and I am still joining masterminds. I'm still buying people's programs, I'm still looking for ways to up level and wanting to learn. So it might be counterintuitive. You're like, Amy, you're supposed to be telling us how to make money, not spend money. But this is one of those situations where you might need to spend a little money to actually make more money. And I call it like the next iteration of your business because you might create something you never even thought was possible based on your newfound knowledge and skill. I'm always, always, always investing in myself and I encourage you to do so as well. I have Digital Course Academy. It's coming out in September. I don't sell it at any other time except one time a year. If you want to get on the wait list, it's amyporterfield.com forward/dca. We always go out to our waitlist verse with the bonuses and all the timely things that you get to take advantage of. But the reason I bring this up is some of you will get to September. It happens every year and you'll say, I really want to join, but I don't yet have the money. And you don't join because you don't have $2,000. And I want to help you. Anyone that's listening right now, you. I'm talking to you. I want to help you get to a place that when a $2,000 opportunity that you really want to join or be a part of, when that happens, it's a no brainer for you. You don't need a $37 offer as a no brainer, but a $2,000 program that you really know works. It's got a great reputation, whether it be mine or someone else's, you really want to do it. You don't even think twice. I'm getting it. I'm going to be the star student. I'm going to take this to the next level. Because with Digital Course Academy, you literally could create an entirely new stream of revenue to make money consistently in your business and definitely make a whole lot more than the $2,000 the program is. I'm just saying this to you now because if you stick with me on this podcast and through my newsletter and hopefully through my programs, I want you to be the kind of entrepreneur that when an opportunity comes up for you to invest in yourself and you really want it, that you don't even have to think twice. That's where I want to get. I want to go way beyond that, but I at least want to get there first. So hopefully you have listened to some of these ideas, and my action item for you is to take action right away, choose just one of them and say, I'm going to explore this. I'm going to use some chat GPT action. I'm going to see if I could drill down a little bit more, kind of explore it and see if this is something that I could deploy. So we went over a lot. Hopefully you got a lot of value here, but my goal is to help you make some extra cash. So, one, you could hit that goal that you set back in January 1, 2025. But in addition to that, just start looking at your business in a few different ways to. To really solidify that foundation of ways you make money and then make room for the new opportunities that I am hoping that I get to talk about very, very soon. New opportunities to promote your business and to sell online. All right, my friend, I hope you found this episode valuable, and I'll see you next week.
Podcast Summary: The Amy Porterfield Show – "7 Ways to Make Money Before the End of the Year"
Episode Overview In the episode titled "7 Ways to Make Money Before the End of the Year," Amy Porterfield delves into practical strategies for online business owners aiming to boost their revenue before the year concludes. Recognizing the shifting online landscape, Porterfield emphasizes leveraging proven methods while staying adaptable to emerging trends. Her insights are drawn from her extensive 16+ years in business, combined with real-world examples from her leadership team and successful students.
Timestamp: [04:30 - 16:45]
Porterfield highlights coaching as a robust revenue stream, especially in times when personalized connection is paramount. She underscores the importance of specificity in coaching packages to stand out in a saturated market.
Key Points:
Notable Quote:
“The more specific we can get with coaching right now, the better. It feels more personal to them when you do that.” – Amy Porterfield [07:15]
Actionable Steps:
Timestamp: [16:46 - 31:20]
Porterfield advises maximizing revenue from your current audience before seeking new customers. She explains the concepts of upsells and downsells as effective tools to achieve this.
Key Points:
Notable Quote:
“If you have something that’s at least $1,000, concierge calls can convert around 70%.” – Amy Porterfield [25:10]
Actionable Steps:
Timestamp: [31:21 - 43:00]
Affiliate marketing presents a passive income opportunity by promoting products or services that align with your brand and are valuable to your audience.
Key Points:
Notable Quote:
“Most people have affiliate links. Find 10 things you love and promote them to create another stream of revenue.” – Amy Porterfield [38:45]
Actionable Steps:
Timestamp: [43:01 - 57:30]
Hosting retreats, whether virtual or in-person, can significantly enhance your business's revenue and deepen your connection with your audience.
Key Points:
Notable Quote:
“There’s real magic in bringing people together. It takes your impact to a whole new level.” – Amy Porterfield [50:20]
Actionable Steps:
Timestamp: [57:31 - 1:12:10]
Personalizing the sales process can significantly increase conversion rates by building trust and addressing potential customers' specific needs.
Key Points:
Notable Quote:
“We usually convert around 70% and it is not even a sales team. So that's what's wild.” – Amy Porterfield [1:05:50]
Actionable Steps:
Timestamp: [1:12:11 - 1:25:00]
Introducing a low-ticket product can attract new customers by lowering the entry barrier, serving as a stepping stone to higher-ticket offerings.
Key Points:
Notable Quote:
“A $37 offer made her $50,000 in revenue. It gives people a way to engage and get results quickly.” – Amy Porterfield [1:20:15]
Actionable Steps:
Timestamp: [1:25:01 - End]
Porterfield concludes by emphasizing the importance of personal reinvestment to drive business growth and unlock new opportunities.
Key Points:
Notable Quote:
“You might need to spend a little money to actually make more money. It’s the next iteration of your business.” – Amy Porterfield [1:28:50]
Actionable Steps:
Amy Porterfield’s episode on "7 Ways to Make Money Before the End of the Year" offers a comprehensive roadmap for online business owners seeking to enhance their revenue streams. By combining tried-and-true methods with innovative strategies, Porterfield provides actionable insights that cater to varying business needs and market conditions. Her emphasis on personalization, strategic reinvestment, and leveraging existing assets underscores a balanced approach to sustainable business growth.
Final Takeaway: Porterfield encourages entrepreneurs to take action immediately, choosing at least one strategy from the episode to implement and experiment with. By strengthening existing revenue foundations and remaining open to new opportunities, business owners can navigate the evolving online landscape with confidence and optimism.
Additional Resources: