If you want to attract more ideal clients, you have to make sure that your income does not depend on how many hours you work.
No matter how high your hourly rate, you can only work a limited number of hours and you can only be in one place at a time.
So, in order to make more profit, you need to find a way to package your expertise so that others will pay for it without you having to be there in person.
How to package your expertise
- Create a White Paper or Special Report: May be either a free report offered for lead generation or a very low cost report selling for $7 – 27 that makes it easy for people to sample more of what you can offer.
- Write a Printed Book: Imagine you meet two consultants at a convention. One hands you a business card, the other gives you a signed copy of his book. Which one is likely to win more clients and charge higher fees? There’s no doubt that people who have written books have instant authority status. Yet, with on-demand publishing, it’s now quite easy for anyone to do this.
- Write an E-book: For people not ready to produce a published book, there is a faster option of producing a e-book for sale online as an instant download. E-books are very fast to produce and are usually much shorter than printed books. However, because of the instant access – and usually because other bonuses are added to the purchase, the sales price is often much higher with prices of $27 upwards.
- Create Audio and Video Programs: Technology now makes it very easy to produce an audio or video delivering valuable information, either as a special recording or as a recording of an existing event. These can be quickly packaged and sold at relatively high prices, either as an instant download or by mail using low-cost fulfillment services.
- Develop Premium Products and Services: Combining various elements together such as e-books and video allows you to create a higher value package selling from $47 – 97. Adding more elements such as personal contact can turn it into a $197 – 497 package and more.
- Develop a Membership Program or Subscription Newsletter: Another way of delivering information is through subscription-based membership websites dealing with a specific topic. You can also deliver membership value offline through a subscription newsletter, perhaps with added services such as a monthly CD or software.
- Create a Coaching Program: Books, audio and video typically provide information in a very general way so there is often demand from people for personal advice on how to apply the information to their own situation. This opens the demand for coaching which can be delivered online, by telephone and in person. This allows you to create an advanced program, selling for $997 or even several thousand dollars.
- Run Live Events: Personal coaching is typically only delivered to one person at a time but seminars and workshops are a method of delivering the same information quickly to a much larger group. While the revenue per head may be lower for this approach, the large numbers of people that can be covered make it very attractive. This can be done at live events or through teleseminars and webinars.
- Run Training Programs: Some organizations may want the expertise delivered to larger groups of people in an interactive way through training programs and will pay significant fees to have this done.
- License Your Expertise to Others: If you can structure your expertise so that it is easily turned into a system and taught to others, you have the opportunity to license them to deliver it without your presence, leading to the prospect of licensing fees and other revenue. You can also do this through resale rights, white labeling or even franchising.
- Create Software and Apps: Software and smartphone apps can be created at relatively low cost but have high value.
- Develop VIP Services: Some people want specific solutions for their own situation and this can open up opportunities for very significant fees. This can include consultancy and “done-for-you” solutions. There is always a certain percentage of people who will want to buy your most expensive option.
You won’t maximize your income just by creating a $50 e-book. But equally running a few high-ticket seminars will not give you the best possible income either.
You probably won’t use all of these techniques but the secret is to find the right mix of different ways of packaging your expertise in multiple ways to deliver maximum profit.
Many of them will work well together. Someone attending one of your seminars may buy a book or audio product and then later return for consultancy or coaching.
The choice of which is appropriate will depend on your personal skills and preferences and the market demand.
How to create your packaged product
The secret to making the most of these opportunities is finding the fastest and easiest way to turn your expertise into a packaged product. Here are some ways of doing that:
- Write it: If you have the skills and the time, you can write your own book or program. This doesn’t have to be time-consuming and where it does not need new research, it can be done very quickly. You could quite possibly produce a valuable e-book and have it on sale within a few days.
- Record it: For those who don’t have the time or inclination to write, the information can be recorded. The easiest way to create a product is by recording an existing event. This can then either be transcribed into a written product or sold in exactly the same format as it was delivered.
- Buy it: In many cases, you will be able to buy content that has been previously created by someone else. This could be in the form of existing material that you are then licensed to deliver. You could also buy ‘Private Label Rights’ to someone else’s material, where you can then edit it and sell it under your own name.
- Have it created: Another option is to develop a specification of what you want and then pay someone else to create it on your behalf.
Whichever option you choose for creating the product, the secret is to repackage and represent it in as many ways as possible for maximum return.
To reach more of your ideal clients, you need to be able to package your expertise in various ways to reach different audiences and to get away from earnings based on the actual hours you work.
- Which of these 10 approaches would best help you reach more of your ideal clients?
- Would it be easiest and most effective for you to produce it by writing it, recording it, buying it or having it created for you?
Check out the other resources on this blog for more information on how to package your expertise to attract more of your ideal clients.