What are you going to do?
Published: Thu, 06/04/20
Today I've been considering the what-ifs. What if your customers get scared of what's to come, and start pulling back on the business they do with you? What will you do then?
I think that in uncertain times like these a lot of people should reassess their target audience. Has the needs of your customers changed? Because if you have what they want and need, then yes, you can still make this relationship work. But like any relationship, when circumstances change, people must adjust their habits, change their attitude and be flexible.
How can you be flexible in your business?
I was thinking about people who hire business consultants and coaches. If you offer services like these at an hourly rate, then you may be nervous to see your client roster slimming down. People are pulling back and tightening their purse strings. How will you keep the money coming in?
A GREAT solution for this is to offer courses instead of services. With a course, you sell ONE item, meaning an informational deliverable, to an unlimited group of people. The purchase seems very low compared to hourly services you may be bringing in. But think about it. This is an option that answers a need. You create ONE product and then get your time back. They scale back on their work with you, BUT they invest in your courses because they still need your advice AND this is a more affordable option that works for their needs right now.
Of course, if you haven't taken the time to build a mailing list, then you really should jump now. Even if you things on the fly whenever you have a free moment, you're still taking another needed step. So you set up a sign-up form on your site, but then it takes you a few months to send out your first marketing mailer. That's okay. You still took the step. It's forward momentum.
I was thinking about the PLR niche. If you sell PLR to a bunch of very thrifty consumers, then you may be seeing a drop in sales. How can you fix that? I think the solution is to INTRODUCE PLR to people who don't normally buy it or even know about it.
PLR seems pricy to people who have gotten, shall I say SPOILED at the prices we give away and sell our content at.
But what about a person who has never heard of PLR? If they're paying top dollar hiring professionals to create sellable courses, they may be also feeling the pinch in their pocketbook. So to customers like this, you open their eyes to PLR and that may look like a GREAT option… in fact, maybe a dream come true.
So the bottom of the barrel falls out (meaning the cheapies on your list) but then you top it up again with new customers who fell from the upper layer.
What is the TIER of what you offer your own customers? Can you become fluid between the tiers? Will you create products to match each segment of the ladder so that you can move up or down as needed, and flow with the changing needs of your customers and the trends of the current day? If we look at the content industry, here's the tier:
Top level: custom coaching or consulting by the hour
Level 2: coaching packages
Level 3: courses and ebooks
Level 4: content for courses (PLR) that you can turn around and resell
This applies not just to the content industry, but many more. Also, having a tiered product/service selection also lends itself perfectly to running a membership on your site. So if you haven't yet explored that option, it could be worth looking into for you or for your customers and clients. More on this in an upcoming post!
I hope this inspire you to think about solutions for staying on top of your niche. Remember that if you plan to introduce the concept of PLR to a new audience of buyers, it makes sense to log in and activate your affiliate link. Send them to Wordfeeder or another of your favorite content creators. This can result in happy customers and residual income for everyone!
Dina at Wordfeeder PLR