October 9, 2020 4 min read
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If you’ve found yourself with a floundering brick and mortar business, you might be asking, “Is it time to pivot to an online business model?”
Truthfully, even if your physical location is thriving, there’s no reason to shy away from starting an online revenue stream. It’s nowhere near as intimidating, difficult or time-consuming as you may think. Plus, there’s no better way to exponentially increase your income and impact than by offering online services.
In fact, these days, a strong online presence is imperative. Did you know that online sales increased by nearly 50 percent earlier this year? That means even people who haven’t been accustomed to shopping online are now getting very comfortable with it. And with the fate of millions of small businesses in question, why not take matters into your own hands?
Here are a few of the fastest and easiest ways to start making money online — today.
1. Offer live workshops
Free, live workshops are the bread and butter of digital marketing. If you’ve never done one before, they can seem intimidating. But think of the opportunity here — you can reach thousands of people with one single presentation.
These workshops are often referred to as master classes. And contrary to popular belief, you don’t need any sort of fancy tech to make them happen. My last master class hosted over 52,000 women and used only Facebook Live to pull it off. The bottom line: If you have a Facebook account, you can start marketing your business online.
The key here is to show off your knowledge and expertise without giving everything away. When your clients see how much you have to offer for free, they can’t help but wonder what else you have up your sleeve.
At the end of the master class, have a killer pitch prepared. Direct your attendees to your signature course, program or membership.
Related: Avoid These 7 Mistakes When Pitching Your Business
2. Create a membership
Imagine a place where you gather your clients in one place, but it’s completely online. You provide resources, access to a few other experts and educational content — and clients pay you each month to be a part of this group. These kinds of groups aren’t difficult to create, either. You can have your membership site up and running with a few clicks of a mouse.
This is where online marketing starts to build up predictable, scalable revenue. Which is what we all want, right? Memberships are amazing, because you’re always working on a one-to-many framework. Gone are the days of seeing clients one-on-one and repeating yourself over and over. You can help so many more people at once, and it’s incredibly rewarding to see the people in your membership thrive and create relationships within the community.
When designing your membership, think of it as an all-access VIP pass to you and your premium content. When deciding on pricing, the typical goal for a membership program is to keep the barrier to entry low. You need to make it profitable for you and a no-brainer investment for your customers. As long as the price is reasonable and the content is high-quality, many members will stay with you for years and years.
Related: How Do I Launch a Membership-Based Website?
2. Build a referral network
We’ve covered how to get your pitch in front of a large number of people, turn them into recurring customers and start seeing recurring revenue from your online business. Now, we’re entering the magical land of passive income.
If you want to start earning while you sleep (and who doesn’t?), creating a strong network of referral partners is the fastest and easiest way to do it. Do you know all your colleagues who are trying to start making a living online? They also need to promote their products, services and memberships. So start asking them to promote you…and you return the favor. It’s as easy as sending an email to your list. Seriously, watching revenue come in from a friend who’s promoted your product and vice versa is pretty hard to beat.
Related: How Affiliate Marketing Can Work for Entrepreneurs
Pivoting your business from brick and mortar to online really is easier than you may think. And now’s a better time than any to start. Once you try one of these simple techniques, you’ll be hooked and looking for more ways to expand your online presence.
This article is from Entrepreneur.com
