Diversifying your revenue could mean various things, but creating new offers is a compelling way to diversify the revenue in your business. The intimidation of creating new offers feels a little scary though, as you never know if your new offer will sell. In today’s episode, we’re exploring how to know if your idea will sell before you ever turn it into an offer.
Listen to part one and part two of this series.
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Creating New Offers In Your Business
In order to diversify your revenue, you may consider adding new services or offers to your business. This is a full process though, as you’re not just creating new ideas, but you’re also selling them. With selling comes the fear of rejection, so it’s important to create offers that you know your audience wants. The question then becomes, is my offer going to sell?
3 Ways to Know If Your New Offer Will Sell Before You Create It
I know you don’t want to waste your time creating offers that no one wants, so here are three ways you can know if your new offer will sell before you create it.
Gather Data through Polls and Surveys
So often, business owners overlook the power of polling their audience. This is so impactful because you’re getting exactly what your audience wants you to create. You can simply create the form in Google Forms, Typeform, or other forms, then incentivize the audience with a giveaway or gift. If you want to make it even simpler, poll them on Instagram or in a Facebook group.
The type of data you gather will tell you who your audience is and what they’re looking to learn from you, especially when you ask the right questions.
Build a Waitlist
Once you have a product in mind, a waitlist is an incredible way to gauge the interest of your audience in the product to explore if it is worth pursuing. This isn’t a guarantee of future purchases, but it is a great indicator of what your audience wants. Make sure you have a strategic timeline so that you’re launching soon after you build the waitlist.
Presell with an Actual Check Out Cart
The third way to explore if the offer you’re interested in creating is going to sell is to offer a presale before it’s ready. This is a way for you to get paid to actually create it. Essentially, you could offer it as a presale or a paid beta to an exclusive audience. If you don’t hit your goal of sales, you can refund your buyers and move on from the product.
New Offers Need to Be Tested
No matter which approach to launching a new offer that you decide to take, you’re going to test, try, and iterate during and after your launch. The pressures that come with launching are so high, but you have the permission and space to iterate.
Two Reasons Your Past Offers May Not Have Sold
If you’ve had a past offer that did not sell, there are two things that may have taken place:
- It didn’t truly launch. You may not have cast the vision of the offer as well as you wanted to.
- You don’t have authority in the space you’re wanting to sell in.
Make sure that you take to time to explore the why behind your last failed launch, then you can use the three tips above to determine if it’s time to relaunch or you need to explore a new offer!
If you’re enjoying the content we’re creating on the podcast and want to connect with others who are called to both, make sure you come join us in the Called to Both Facebook Group!
Mentioned in This Episode:
Episode 74: Growing Beyond Services: Building Diverse Revenue Streams
Episode 75: Affiliate Marketing for Content Creators
Connect with Joy:
Instagram: instagram.com/joyymichelle
Youtube: youtube.com/channel/UC-Ou6jRKxcjMrVMxWxLO_fQ
Facebook: facebook.com/joymichellephotography
Coach with Joy: joymichelle.co/coaching
If you decide to use any of the links above and buy through them, I’ll receive a small commission back. All of those affiliate income commissions really add up over time and help generate revenue to help support this podcast.
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