7 strategies to generate more income in your business, starting right now – Part 2

Ready to make more money with your gifts and expertise?

In Part 1 of this article, we covered the first three strategies to achieve this goal – making more offers to your list, surveying your niche more often and in more detail, and structuring your offerings into a profit pyramid.

Now, let’s focus on the remaining four strategies that are just as (or even more) powerful…

Consider tying and bundling

Tying and bundling are two ways of packaging your products and/or programs together that might result in more money for you in a relatively short period of time. Namely, all you have to do is evaluate your existing products or programs, and then create bundles of those who complement each other in one way or another. You can still offer these products or programs separately as well, which is called »mixed« bundling, or you can only continue offering bundles, and in this case, the bundling is »pure«.

Tying, on the other hand, is the practice of requiring a customer to purchase one product or program in order to purchase another. For instance, if you have a membership program, you can require people to join it to become eligible to buy your products, or, doing just the opposite, you can require them to buy a product to be able to join your membership program.

Play with the idea, track your numbers, survey your audience and test more options; then, once you know exactly which packaging strategy is the most profitable for your particular business, take action.

Market more and on more fronts

Review your marketing plan! When it comes to speading the word about your business and your offerings, engaging in social networks, getting publicity and instant credibility in the media, connecting with fellow experts and leveraging joint venture partnerships, etc. – are you active enough?

List the marketing methods you’re currently using, and then the ones that you know have proven to be effective for other people (like your mentors), but are still sitting on your desk and your to-do lists. Which of these »some day« marketing activities you can turn into »today, tomorrow, and every day after that« instead?

If it feels overwhelming, pick one – but do start moving your marketing forward and playing your game on more fields.

Add value, raise prices

If you haven’t increased your prices in a while, it might be time for you to finally do so! However, since prices reflect value, it’s crucial that you do submit your offerings to a proper »check-up«. Write down all the results people get from using your products and/or services, one by one, and be as specific as possible. Don’t forget to look at the long-term and indirect results! Then, find ways to increase that value for the client or customer even more.

Could you add additional yummy bonuses, update an old version of a product with fresh, cutting-edge content, or perhaps change the format or packaging to accommodate your clients’ needs and wants even more, while at the same time raising the perceived value of the offering? Put on your client’s success-oriented glasses, and be creative!

Work on your irresistibility factor

You may have heard this a thousand times, but it’s still true – in order to jumpstart your bottom line, you need to produce an irresistible offer. What that is, depends a lot on your target market, and it certainly has to do with a great price/value ratio, but there are a few more things to take into account to really skyrocket your irresistibility factor, like your leadership skills and energy, your personal and business branding, the experience you provide to your clients, the depth of the relationships you nurture, the consistency of your marketing, stellar social proof you’re able to provide, etc. Basically, your entire business needs to become a client magnet by delivering top-notch quality and excellence every step of the way.

WANT TO REPRINT THIS ARTICLE IN YOUR EZINE, BLOG OR WEBSITE? You’re welcome to – just please include this complete blurb with it:

About the Author: Martina Srblin, “The Multi-Passionate Entrepreneur” and expert at turning passions and ideas into efficient success, teaches heart-centered entrepreneurs how to efficiently build, run, and grow their multi-faceted business empire, so they can regain control of their lives, and fully monetize their gifts and talents. Visit www.themultipassionateentrepreneur.com to get “The 4 Basic Types of Multi-Passionate Entrepreneurs (and a ‘Bonus’ 5^th One)” audio, take the “What Type of a Multi-Passionate Entrepreneur are You?” quiz, and claim your free subscription to Martina’s weekly Ezine “The Efficient Passionista’s Sphere of Success”.

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