Edition 27: Oct 22, 2024 - Embrace Failure as a Step Stone (to greater achievement)
Embrace Failure as a Stepping Stone (to greater achievement)
Kajabi Tutoring. Concise and Actionable. Every Tuesday.
Improve Your Business with 3-2-1.
3 Ways to Make Money You May Not Have Considered
2 Projects for Your Black Friday Deal
1 Question: What is a good click rate?
You know that feeling when you cook a complicated dish, and everyone at the table wants the recipe? They’re curious about every step, ingredient, and technique that made it so delicious.
Building an online coaching or consulting business is just like that. Once you get it right, people start asking, “How did you do that?!” That's going to happen to you (or already has).
Three Ways to Make Money You May Not Have Considered
Beyond the usual offers, here are some often overlooked methods to generate income.
#1 Affiliates
If you love certain tools, products, or services that align with your business, you can partner with those companies to earn a commission for every sale made through your referral link. You can share these links in your newsletters, blog posts, social media, or inside your course.
#2 Monthly Live Workshops
You can offer a paid live training session on a specialized topic. It not only allows you to connect directly with your audience but also give you the opportunity to charge for your expertise without needing to create a full-blown course.
#3 Paid Newsletter
If your newsletter is beefy enough, your followers will be willing to pay for it! You would set up an offer with no products and design a weekly, twice weekly, or monthly newsletter that sends to only those that own that particular offer. Ta-da! No product needed.
👉Coaching for $29/mth: Click to Learn More >>
One Email. One Task. Five Days a Week. One Step a Day. Learn More >>
Two Projects for Your Black Friday Deal
Project #1 Choose Your Black Friday Offer
- Buy One, Gift One: when someone purchases a course or coaching package, offer them a second one to gift to a friend or colleague
- Bundle Offers: put several of your digital products (courses, ebooks, templates) together for a deeply discounted price
- Flash Sale for 24-48 Hours: offer a significant discount for one of your popular courses or services and highlight that this is your biggest sale of the year
- Free Bonus with Purchase: such as an additional training session, ebook, or digital download, adding extra value without discounting your main offer
- Limited-Time One-on-One Coaching Slots: special discounted rate
- Exclusive Workshop: host an exclusive, high-value workshop or training session for Black Friday buyers that is a one-time event not available any other time
- Year-End Success Roadmap: a single session helping your clients set themselves up for success in the coming year
- Gift Cards for Future Use: can redeem for coaching services or courses in the future, creating future sales while offering a current discount
Project #2 Design a Funnel Around the Offer:
Design a branded email that links to a landing page or checkout page. Be sure to send more than one email to those who have not yet purchased!
(yep, I can help!)
One Question: What is a good click rate?
Unless you check in on your metrics, you don't know how well your emails are doing other than watching sales revenue. Here are the key metrics you could be watching, along with average KPIs for each:
- Open Rate: What it Measures: The percentage of recipients who open your email. Why it Matters: Indicates how compelling your subject line is and the general interest in your emails. Note that this number is not as accurate as it used to be since the iOs update. Average KPI: 20-25% though since the iOS update, this is not as accurate in Kajabi
- Click Rate: What it Measures: The percentage of recipients who clicked on a link within your email. Why it Matters: Shows how engaging your email content is and how well your call-to-actions are performing. Average KPI: 2-5%
- Conversion Rate: What it Measures: The percentage of recipients who completed a desired action after clicking a link in your email. Why it Matters: Directly tied to the success of your email campaign in achieving its goals. Average KPI: 1-3%
- Bounce Rate: What it Measures: The percentage of emails that could not be delivered to the recipient’s inbox. Why it Matters: High bounce rates can affect your sender reputation and deliverability. Average KPI: Below 2%
- Unsubscribe Rate: What it Measures: The percentage of recipients who unsubscribe from your email list after receiving an email. Why it Matters: Indicates the relevance and value of your email content to your audience. Average KPI: Below 0.5%
Additional Resources:
👉Subscribe to My LinkedIn Articles
Free PDF Download: First Steps to Building an Online Business
Build a Brand By Building a Community
How to Build the Best Community Ever >>
Step-by-Step: Designing an Online Program as a Coach or Consultant
How to Escape the Income Limitation of 1:1 Coaching
Kajabi 2024: More Than a Course Platform!
Entrepreneurship: What could cause a Failed Launch?
The Art of Designing a Monthly Membership Model (Step-by-Step)
10 Genius Prompts for the New GPT-4o
Affiliates:
Rebrand: an IG Makeover ($47 off with this link)
Group coaching agreement, T&Cs for courses, and more (use code GET15OFF)
What's so great about Kajabi (30-day free trial)
Trademarking (use code DIGICOURSE50 for $50 off)
Business Headshots on the cheap
Look for me again next Tuesday.
Best wishes and much success to you,
Virginia Stockwell, Kajabi Tutor
Disclaimer: I am not an employee or representative of Kajabi, LLC. I am an independent Kajabi Partner and I receive referral payments from Kajabi in this role. All opinions expressed herein are my own and are not official statements of Kajabi or any party affiliated with Kajabi.
👉Really, I'm just a huge fan of Kajabi! Just check out everything it can do!
Why use Kajabi for your Coaching or Consulting Business >>
The 1st Steps to Starting an Online Coaching or Consulting Business: Share your expertise through group coaching, a membership and/or an online course.
👉Step-by-step, this manual will guide you.
Part 1: FAQ: How much will I make? How long until success? And more...
Part 2: Step-by-Step Build a Brand
Part 3: Step-by-Step Designing a Marketing Plan
You've always said that "someday" you'll start that coaching or consulting business, but where do you begin?
The First Steps to Starting
a Successful Online Coaching or Consulting Business
Share your expertise through group coaching, a membership and/or an online course. Step-by-step, this manual will guide you.
