Marketing & Cocktails

#006 - Leverage Your Business and Increase Profits by Creating Products

September 29, 2020 Vanessa Shepherd & Terrica Strozier of She's Got Vision Season 1 Episode 6
Marketing & Cocktails
#006 - Leverage Your Business and Increase Profits by Creating Products
Chapters
Marketing & Cocktails
#006 - Leverage Your Business and Increase Profits by Creating Products
Sep 29, 2020 Season 1 Episode 6
Vanessa Shepherd & Terrica Strozier of She's Got Vision

Today's episode is all about leverage your business and increasing profits by creating products. Products add diversification in your offerings and income while allowing for breathing room between 1:1 services.

For more information on our membership Launching Made Simple:
https://shesgotvision.com/launching-made-simple

Link to episode transcription:
https://drive.google.com/file/d/14iRUC39KWszcYUW1Wce5edVGuOq3375u/view?usp=sharing

Show Notes Transcript

Today's episode is all about leverage your business and increasing profits by creating products. Products add diversification in your offerings and income while allowing for breathing room between 1:1 services.

For more information on our membership Launching Made Simple:
https://shesgotvision.com/launching-made-simple

Link to episode transcription:
https://drive.google.com/file/d/14iRUC39KWszcYUW1Wce5edVGuOq3375u/view?usp=sharing

Episode #006 Leverage Your Business and increase Profits by Creating Products

[00:00:00] Terrica: Welcome to the marketing cocktails podcast. We're your hosts. Terrica Strozier, that's me a brand designer and sugar attic and Vanessa Shepherd and launch strategist and content creator. With the love of all things Disney each week, you'll hear, our behind the scenes conversations and expert advice on marketing and launching your next offer while doing it all ethically and organically.

And given that bro marketer advice, the book. Thanks for spending some time with us today. Grab a drink and let's jump into today's episode.

 

Welcome to episode six of the marketing and cocktails podcast. Today's episode is all about taking your business to the next level by creating products. 

This is going to be a solo episode for Vanessa. I will be back on the podcast next week, But today you'll get an insight into the genius marketing brain of Vanessa's so without further ado here's today's episode

Vanessa: all right. Let's talk about leveraging your business and increasing profits by creating products. [00:01:00] We're all faced the same 24 hours in a given day, but how you use those hours is what differentiates a successful business from a floundering business. If you're filling your available hours with coaching clients or working one on one.

With clients or even subcontracting to somebody else and still aren't bringing in the money you'd like to bring in. And then maybe it's time to try something new. Having multiple streams of income can help to grow your business, expand your reach, and increase your profits all in that same 24 hour time period.

So let's look at a couple of examples of other streams of income that can help your business and your income explode over time. So the first one we're going to talk about is product creation. I absolutely love creating products. It's one of those things that I get excited about when most people dread it, it's kind of fine, but no matter what type of product you create, whether it's a webinar or an ebook, a downloadable [00:02:00] packet, online classes, you know, an actual physical published book, printed materials that you're mailing out to people.

No matter what type of product that is once the work is done, you can actually sit back and sell those products for years to come. Sure. With some things like courses and dental, little packets and things, depending on what your material is on, you might need to update them, repackage them, make sure they're, you know, still up to sniff and still valuable with what's going on in the world, around you.

But the bulk of the work gets done right up front. And of course there's work involved in promoting those products, but many entrepreneurs and business owners find that the marketing work is easier than the actual product creation. So products are priced lower than, say a one on one coaching service or one on one, , service that you're gonna offer to your clients.

So your products are still offering to help those people that aren't quite ready for that larger investment. The lower price point also helps to expand your reach to your target audience because you're offering more options [00:03:00] for people you're being able to hit them no matter where they're ready to make an investment, the chances are pretty high that you'll attract people with products first.

And then they'll kind of travel through your sales funnel and hopefully purchase say private coaching or one on one services where they're convinced that you can help them. You may also want to consider hiring a customer service agent who can handle all of your product inquiries and problems with some training, your customer service agent can handle all those inquiries without bothering you.

And that allows you to have more time for work with your clients. You can also consider your product library as separate gear in your business. One that works in the background where you focus on working with clients and providing that value and building those one on one relationships. So the next thing we're gonna talk about is group coaching, creating group coaching classes still involves you being personally involved, more so than producing a physical product.

So it's a lot more of a time investment, [00:04:00] but the great thing about it is that you're still able to reach more people at one time. Then you would, if you were kept working one on one with clients, So you can consider this type of product, a step up from an ebook or a signature course, because you were involved in leading the group.

They're getting that one on one time with you. it's just more of a one to many kind of time with you, but they still get to interact with you. They still get to hear from you. They still get that feedback, that you would give them in a one on one environment. But you're actually able to help more people at once.

And the cool thing is that those other people are often able to help each other too. So there's multiple win-win situations going on. You can use the time that you spend, to showcase your expertise by personalizing your advice for every person, by being able to facilitate dynamic conversations. Like there's so many ways to use your skills, to be able to help people, one group setting, think of it like how a teacher helps in a classroom.

They're able to help, you know, 20, [00:05:00] 30 students at a time. And those students actually learn from it other as well, and get more value out of that experience as long as everybody's, you know, involved in and actually involved in the conversation and making the conversation better. And even in a group coaching situation, your group members should feel that they're getting the advice they need.

Not simply one size, all one size fits all advice. if you're not able to be able to tailor advice specifically to people on the spot, then group coaching may not be a good fit for you. So just keep that in mind, if it's something that you're considering adding to your product lineup. And the dynamic group often dictates the conversation, but you should still plan kind of like a course outline of what specific topics you cover in each session.

The beauty of group coaching is you can take notes on what works, what doesn't work, so you can fine tune your next session and you can keep learning and building. And the more you do them, the better they'll get over time. And even if you continue group coaching on the same topic, [00:06:00] it'll always be different based on the people in the group.

That's the really cool thing about having a class based situation is that it can be totally, yeah. Different depending on who speaks up, who joins who's in the group, what experience they bring. It can be really fun to take one topic and see how many different ways it can go over many classrooms I've taught on.

The topic of Kendra, is there talking to the Facebook ads or just creating content and depending on which people are in the room, those conversations can go a thousand different ways. So it's really, really cool to see what I'm bringing to the table, the same kind of skills. they grow a bit over time too, but it's basically the same topic, the same kind of skillset.

And then you add other people to that. You kind of plugged them in there and the conversations get really, really cool. So as you can see, adding products or a group coaching package to your business offering allows you to help more people while also earning more profits. But simply creating a product doesn't mean that it will sell.

You need [00:07:00] to have a large sequence in place so that you're ready to promote your product. Even before it's completed, you're going to have a live launch sequence. You can have an evergreen launch sequence. You can have something that, is only turned on when you're on vacation. There's so many yeah.

Options to be able to launch this product to your audience, that it gives you a bunch of different options that you can use to plug into your strategy, depending on where you're going. So this is something that interests you, this something you want to do, but you're like, Oh, I don't want to go it alone.

Join our membership group. Launching made simple what we'll be discussing all things, launching, marketing, your products and services and how to fine tune your marketing for increased profits. I'm all about fine tuning things and testing and making them better and actually making sure that you're having.

Your launches in business run in a way that's profitable and that works for you and your unique needs and your audience's needs. So we're giving our students lots of action steps that they can put to use right away with feedback to help keep it improving their [00:08:00] offers, funnels, and launches. Visit she's that vision.com to join.

Terrica: Thanks for listening. Y'all you can find the show notes at she's got vision.com/podcast. If you've enjoyed what you've heard today, please leave a review and subscribe to the podcast. And because word of mouth is still the best marketing Avenue. Please tell a friend to share it. If you do, don't forget to tag us.

Yeah, she's got vision on all platforms until next time. Y'all we're wishing you much success. I remember there's always time for cocktails.