B3-CH35 – The Magic Of Multiple Income Streams

While you should start with just one product, once you’ve mastered your approach, you will soon want to expand beyond that and effectively creating multiple income streams.

There are two levels on which you can multiply your income streams:

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1. By introducing additional and alternative products, services or hosted ads
2. By repeat-selling to your existing clients, including continuity sales

Having multiple income sources is not only a “good idea” but it is, in reality, a “must have”. Rather than putting all your eggs in one basket, you need to find clever ways to diversify – but without distracting your customers from your primary offers. But note: you should consider expanding your range only after you’ve fully understood the process using just one product or income model. Otherwise you’ll spread yourself too thin and risk failure.

Given that you’re already a little experienced, here are some ideas for how you can expand, what to do and what NOT to do.

Thus, placing an ad for “something else you want to sell” on a page which is focused on selling your primary product is not a good idea.

But – and here’s where having a content site becomes a clear advantage – you have lots of non-income-producing pages on your site which can easily be enhanced with related affiliate or CPA offers, hosted ads (e.g. AdSense) and the like.

It’s a good idea to offer RELATED products and services, for the sake of consistency and avoiding mixed messages or suspicions of desperate opportunism.

I enclose a great little AdSense tutorial within this course to help you maximize the passive income-getting power of your website.

AdSense is a hugely popular income model and lots of people use it. It’s so hands-off and easy. But AdSense is not the only game in town. You should also consider researching CPA offers and Amazon affiliate (“associate”) programs. You may also find that e-product marketplaces like Clickbank can be most useful to you as well.

Beyond introducing alternative products and services or selling ad space, you also need to consider re-marketing to your existing client base. It can be highly effective and it’s 100% free once you have a list. Once a client has spent some money with you, they’re more than twice as likely as any other prospect to do so again.

Subscription-based services (where you charge a fixed monthly amount and keep delivering new products or enhancements, typically downloadable reports, etc), also known as “continuity sales” are one good way to go.

Another way is introducing “upsells” either during the primary sale process, or during the follow-up process. We deal with all of these options further within this course, in much more detail, but in this section we just wanted to remind you to keep these all-important factors in mind.

Multiple income streams involve adding new monetization models as well as more products to your site. It can be done very tastefully without turning your artist’s site into a commercial marketplace.

But now we need to further refine a few concepts, and we thus return to the notion of “product”.

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Book 3 – Chapter 34Product Selection	Course Overview	Book 3 – Chapter 36What Is Your Product

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