Recurring Income Options
Making money online is an amazing feat in and of itself. But when you take one sale and magically turn it into repeat sales through recurring income options, it sets you up for long-term success.
Recurring income means your customer isnít billed just once, but through a series of payments. That can range from one additional payment to ongoing monthly payments ñ depending on how you have it set up.
The reason many marketers set up their product to allow recurring payments is because it eases the financial burden on the consumer. For example, a membership that is $324 sounds much more doable to make on a budget if theyíre able to pay $27 a month instead.
Membership sites are one way to develop recurring income through online sales. You might have a library of lessons that get sent out on a monthly or weekly basis to your customers, teaching them information in the form of text, videos or even podcasts.
Coaching is another form of residual income you might be able to cash in with. Some people offer one on one coaching calls based on a monthly fee. Others sell group coach, and some have set packages you can purchase where youíll get charged for a set number of months at a discounted rate, the more sessions you buy.
PLR content sites are often turned into residual income offers. Most private label rights sellers have launches for bundles of content that others can use on their sites, in emails and to sell as products.
But we all know that marketing online requires ongoing content, so you can make their life easier by offering monthly content packs in one particular niche market. Usually, these are set up at an attractive price point, such as $12-27, so that the customer continues staying in the membership without hesitation.
Recurring income can be set up easily through sites like PayPal. Like clockwork, the system will charge your customer for access to your product. The problem arises when the consumer forgets about the purchase and then gets billed again, contacting you irate because they feel like theyíre being scammed.
You can prevent this by keeping in contact with your buyers and over-delivering so that they know right away what theyíre getting billed for, and are happy to pay for the product youíre providing them with.
Give your membership a great deal of thought and consideration before you implement it. You donít want to sully your reputation by dropping the ball, but at the same time, a membership site is a great way to solidify your earnings for the long haul.