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The Art of Online Business

How to Add Recurring Revenue Without Ad Spend

The Art of Online Business

Kwadwo [QUĀY.jo] Sampany-Kessie

Team Building, Online Business, Outsourcing, Marketing, Facebook Ads, Business Scaling, Business, Online Marketing, Productivity, Evergreen Sales Funnels, Podcasting, Youtube, Entrepreneurship, Social Media

4.8828 Ratings

🗓️ 19 August 2022

⏱️ 25 minutes

🧾️ Download transcript

Summary

What would your business look like if things were easy? The path to success in your business isn’t always the easiest. While it’s true that it may be simple to just run a promotion or do a launch to increase your recurring revenue, that may not be the best course of action, especially if you have a high churn rate, for example. ‍‍ Cut your lead gen costs in HALF with my $37 mini-course–NOW only $17!Visit The Art of Online Business website for Facebook Ads help‍‍ ‍‍ ‍‍ In this quick tip...

Transcript

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0:00.0

Hey, my friend, welcome to the art of online business podcast.

0:08.5

My name is Rick Mulready and I'm an online business coach.

0:11.5

I'm an ads expert and most importantly, I'm a dad.

0:15.7

And this show is where we help established online course creators and coaches create more profit, more impact, with less

0:24.2

hustle. All right, let's get into it.

0:26.1

All right. What is up, my friend? Welcome to episode 627 here on the podcast. This is another quick tip episode

0:39.8

where we're going to dive into, I want to get a point across today. And so my goal for this

0:46.6

episode for you is I want you to think about things a little bit differently, that the path

0:52.2

to how you think you should be accomplishing something is not always

1:01.0

the easiest thing to do, right?

1:04.5

So one of the questions I always ask are accelerators.

1:07.7

They get tired of me saying it, but it's what would this look like if it were easy?

1:11.6

Okay. And I'm going to give you a hypothetical scenario here today. And so let's say you have a membership. And it's a fairly inexpensive membership. It's $49 a month. And let's say that your goal is to add $10,000 a month in reoccurring revenue.

1:33.1

So you want to increase your monthly reoccurring revenue by 10 grant.

1:36.5

And at $49 per person per month, that's roughly 200 people.

1:41.9

So you want to add 200 people to the membership.

1:46.0

So most of us would go right to, okay, how do I add 200 people? Do I need to do a, maybe I should do a launch.

1:54.0

Or maybe I should do a special promo or I better buy, you know, I better do more ads, I better increase my ad spend to build my list more and convert more of those people to into the membership.

2:09.3

That's how most of us would think about it, right?

2:11.7

And by the way, this scenario that I'm going to take you through is really hard to oftentimes is

2:19.5

really hard to see yourself meaning we're so close to our own businesses that we

2:26.5

really need an extra set of eyes on your business whether it's a mastermind whether

...

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