TAS 644: 7 Ways to Diversify Your Revenue Streams and Add More Profits
Rock Your Brand Podcast
Shownotes Transcript
Does your ecommerce business have a solid foundation? Does it have what it takes to go the distance and provide you with reliable income for years to come? If you are looking for ways to diversify your revenue stream, you’ve come to the right place! On this episode of The Amazing Seller, you’ll hear from Scott as he goes over the seven ways he’s identified and tested to increase your profits and diversify your revenue stream. This is the episode you need to future-proof your business; you don’t want to miss it!
Add to your product line up.
Did you know that you could have a great addition to your product line up sitting in plain sight? Think about it! You could easily add some variations in size, color, or quality to your existing products. You could also bundle several product or variations together as a packaged deal. Think of how you buy items online and try to target your audience that same way. It doesn’t have to be as complicated as coming up with an entirely new product idea, experiment with the idea that works! To hear more about this important topic from Scott, make sure to listen to this episode of The Amazing Seller!
Content + Traffic + Ads = Increased Revenue
If you’ve been around the TAS community for very long, you know that Scott is passionate about helping sellers like you see the value in creating content for your niche market. Have you started creating content yet? What are you waiting for? It may sound intimidating and scary, but it doesn’t have to be! Just start creating content like product reviews, or comparisons, or helpful tips for others in your niche. What do you have to lose? Sure, your first videos or blog posts won’t be completely polished and professional, but that’s OK. There is always room to grow and improve, but you’ve got to put yourself out there!
According to Scott, if you can build traffic through your content, then you can capitalize on that traffic by turning on Ads. Turning on Ads will help you with a new income stream so you can focus on expanding your brand. Learn more about creating content and driving traffic from Scott’s expert perspective by listening to this episode of The Amazing Seller!
Create or buy digital products to sell to your audience.
Did you know that you can create an income stream simply by writing an ebook? It’s true! All an ebook would cost you is the time to write it and edit it; the rest of the process is free. That means, when you sell your ebook, you get all the profits! If you don’t think that you have an ebook in you, that’s OK. There are a ton of options out there that allows sellers like you to buy up resources like ebooks or instructional videos that people have created that you can buy or sell on your site. To learn more about these great options to diversify your revenue stream, make sure to listen to this episode of The Amazing Seller!
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [3:00] Add a new product, variation, or bundle to your brand.
- [6:45] Consider selling your product on another platform like Ebay or Etsy.
- [9:00] Add related products to your blog and link to it as an affiliate.
- [12:00] Build traffic through the content on your blog and then turn on ads.
- [15:45] Add content to YouTube and use Adsense.
- [17:50] Include digital content in your brand. Either create it or pay for it.
- [23:20] Create sales funnels and use Facebook Ads to drive sales.
- [25:50] Scott recaps all seven ways to diversify your revenue streams.