Ways to Create Additional Streams of Income
Are you creating additional streams of income outside your network marketing business? Are you getting paid for your marketing? I am in the process of taking a class on internet marketing and sketching out a marketing funnel for my business. It has caused me to step back and think about various streams of income I would like to create with my online marketing.
In the training I am learning about how to leverage the various “sweet spots” of my marketing funnel and the importance of having the big picture in my mind as to what I want my subscribers or prospects to ultimately do.
A strong online business will eventually have several different marketing funnels in place, but to get started sketch out a plan that includes 4 steps:
- Irresistible Offer: What do you have in place to entice people to opt into your list
- Front End Offer: What do you offer them after they opt in? (This is usually something inexpensive to give your customer a chance to do business with you at the entry level with very little risk to them.)
- Back End Offer: What do you offer them after they purchase? (Can they make a bigger purchase to get even more information and training from you?)
- Follow-up Offers: What do you offer them in addition to their purchase? (This can be an affiliate product, your network marketing opportunity, etc.)
I am still working to build out my marketing funnel and create my products that will ultimately become a part of it. I will be sharing more information on product creation in a future article, but one thing to think about when you are creating a product for your marketing funnel is to make sure that you are adding value to your market.
So far I have brainstormed 7 ways to monetize your marketing and add additional streams of income: Each one of these options will allow you to add additional value, build trust and credibility in your market:
- Build your email list
- Create your own product
- Create your own monthly membership program
- Leverage affiliates for your own products and/or be an affiliate for others
- Create a done for you service
- Implement a coaching program or a consulting service
- Leverage your past skills
I hope that this was helpful to you and showed you how you can monetize your marketing by creating a marketing funnel for your network marketing business. It truly can be a game changer and set you apart from the majority of the other marketers online.