Are you struggling to find people that are interested in your products and services? If so, you're not alone.
Customer acquisition is one of the biggest challenges faced by companies of all sizes. It's an especially big challenge for one person businesses that are just starting out.
Affiliate Disclaimer: This page may contain affiliate links. If you use these links to make a purchase, I will receive a small commission. However, using these links will have no effect on you or your purchase in any way. For more information refer to our disclaimer page.
When starting out new businesses have to find a way to bring in a consistent stream of new people they can talk to about their online businesses.
Selling to consumers one by one or relying on referrals is not enough to build a robust revenue stream. As a new business owner you'll need income generating systems that are easy to implement, that work to help you reach your goals.
The Reality for New Business Owners
According to data found on career planning site Zippia, the success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%.
Customer Acquisition Data
The gap between the success rate of selling to an existing customer versus a new customer is huge. The challenges are even greater for a new, one person business that are just starting out.
This post will outline the income generating systems that are crucial to any business that wants to thrive in a competitive, crowded market.
Understanding Your Why Is Important
If you're like most entrepreneurs, you started an online business to change your reality from one that requires you to trade time for money, one that is reliant on a physical location, and one that offers limited opportunities for growth.
This is a consistent theme we hear from entrepreneurs that start an online business. It's also important to write down any other reasons you had for starting an online business. These reasons can help you stay focused during challenging times.
Your goal in starting this venture was to move away from relying on a conventional 9 to 5 and moving closer to earning a living from home, or any location.
And now after time has passed, you've found that the methods you thought would work, are not getting the results you had hoped for. You're confused and frustrated about how to get started making your original dreams come true.
What Are Income Generating Systems?
The reason you're running into a bump in the road may be related to the systems you're using (or a lack thereof) to perform tasks that have a huge impact on the success of your business.
Read on to receive ideas and insight you can use to turn things around. Learn about income generating systems and how they can help you build the business of your dreams.
Income generating systems are well designed processes and procedures that ensure that your business can consistently earn from your products and services.
They allow your business to be in many places at once, reaching an unlimited audience of consumers who need what you have to offer.
They are crucial for new business owners because they provide a solid foundation for growth, efficiency, and sustainability.
They are even better when they are automated so that they run on their own (on auto=pilot), enabling you to focus on other things.
It's important to note that generating consistent income doesn't one rely on one system. Most businesses require a series of systems that work together to make the magic happen. We've outlined three major systems that you should implement as soon as possible.
The First Income Generating System to Implement - Audience Attraction
Attracting an audience involves providing content that makes sense to the people who would be a perfect fit for your business. Content management systems (for example, blogs, video channels and podcasts) help you connect with a wide audience. However you want to narrow your focus to concentrate on a specific niche audience to receive the best the best results.
The Typical New Business
What is the one thing business owners want and need more than anything when starting out? An audience of people they can talk to about their business. Unfortunately, many new entrepreneurs go about this all wrong.
The ones who get it wrong will market to anyone with a pulse. They are all over the place because they are trying to appeal to everyone. In doing so, they are confusing their audience and therefore not connecting with the people they want (and need) to work with.
On the other hand there are other marketers who are more particular about the people they work with. They don't want just any old audience. They have done their market research and crafted messaging that connects with people who have a need for what they are promoting.
Believe it or not, being selective and finding a niche can go a long way to finding the success you're looking for in your online business.
Once you have selected a niche and you know who you're selling to, implementing a well-designed audience attraction system ensures that you are driving a constant stream of the "right" consumers to your business. Consumers who are more likely to make that first time purchase.
It's important to reach people who meet the following criteria:
People use a variety of methods to find the products and services they need to maintain what they currently have and to locate things that make their lives better.
On the other hand, entrepreneurs need a platform that they can use to communicate with and provide valuable content to an audience. They need to find the people who are looking for (searching online) what they have to offer.
Don't Know Where to Start?
Convert more visitors into leads and leads into customers with an optimized WordPress site. Let us build one for you.
The marketing platform they choose (for example a blog) serves as a content marketing system that when done well allows business owners to reach their financial goals.
Marketers (bloggers) create content like blog posts, product pages, sales pages and lead generation pages.
They also use cart functionality and payment processing systems. These systems will attract an audience and support a well functioning online business.
Let's Build Your Audience Attraction System!
Drive Traffic and Talk to More People
Take a look at, Attract New Customers and Skyrocket Your Business Video/Workbook Bundle. Once you complete the exercises in the workbook, you'll have a system that drives traffic to your business, helping you build an audience of people you can talk to about products and services you have to offer.
Once you create an attraction system, it will be easier to build an audience of people who want to work with you. And you'll never have to worry about having frustrating, awkward conversations with the wrong people (people who aren't interested) again.
Get the Short Version: Watch the Video
The Second Income Generating System to Implement - Lead Generation
Once people visit your platform, you want them to hang around. As a business owner it's your job to help your ideal customers come back again and again.
It's your job to create a system that enables your business to follow up and provide potential customers with valuable content that helps them reach their goals.
The reality is that building an engaged email list is not a mere stroke of luck or guesswork. It requires a strategic approach, careful planning, and a deep understanding of your audience's needs and desires.
Let's Build Your Automated Follow up System!
Keep More Potential Customers Around
Discover how to build your second income generating system that inspires more visitors and potential customers to return to your site again and again. That's where "The Beginner's Guide to Building an Engaged Email List" becomes your trusted companion.
Once you've established a system for lead generation, it's important that it's automated and connected to your audience attraction system to continue the workflow.
By establishing clear workflows, standard operating procedures, and an automated processes, systems minimize errors, reduce redundancy, and increase productivity.
Listen on the Go to Our Latest Podcast Episode
The Third Income Generating System to Implement - Transformation
Through the valuable content and insights you provide in your lead generation system, you help your leads and potential customers and people in your audience make a transformation. Even if they never buy anything, they will hopefully benefit from the content you provide.
People who are a good match for your business will find your products and services to solve a problem or to get ideas that will help them improve their lives. When they purchase your product or service, they will experience a transformation that takes them from a problem state to a solution state.
Systems promote consistency and quality across different aspects of your business, enhancing customer satisfaction and building a strong reputation.
Furthermore, systems allow for effective delegation and scalability, enabling your business to handle increased workload and expansion.
Subscribe to Our YouTube Channel
We're helping creative business owners go from stuck and confused to empowered and thriving one video at a time.
Systems Can Be Duplicated and Expanded to a Wider Audience
This is the best thing of all... once you create systems that help you sell one product, those same systems can be duplicated and expanded to a wider audience to help you sell other products! Once you have several income generating systems in place you can test various scenarios and collect data that will enable you to improve your income generating systems to make them even more efficient.
With automated systems in place, a new business owner can confidently navigate challenges, adapt to changing circumstances, and build a resilient organization that can thrive in a competitive marketplace.
This is a huge deal for online business owners who are ready to reach their financial goals online.
If that describes you, join our list and learn about digital products and growth tools you can use to elevate your online presence and drive success. Join us on the journey to entrepreneurial greatness!
Join Our Mailing List
Growth Accelerator Insights!
Get Our List of Places to Promote for Free and Save on the Audience Attraction eBook/Video Bundle
And unlock a treasure trove of marketing tutorials, tools and resources designed to help your business reach its full potential.