This Is Why Certain Income Generating Assets Are A Whole Lot More Valuable Than Others!
Just within the last 90 days or less entrepreneur. What types of income generating assets and or resources have you created?
Or are in the process of creating. And they definitely don’t have to be limited to offline physical assets and or resources. You can and definitely should be creating various types income generating assets or resources of the digital variety as well. Because once you create some type of digital asset.
You literally have tons of viable marketing or promotional options. Many of which are not only extremely cost effective. But you can multi purpose them in a lot creative ways.
All the while systematically multiplying your long term reach for literally pennies on the dollar. And others with at least some type of influence can and definitely will help spread the word all over their social media accounts. And unlike potentially expensive ad campaigns.
You don’t have to constantly keep funding them by writing checks. Which is a major benefit in and of itself, agreed?
You Definitely Don’t Have To Get Fancy In Terms Of Creating Some Type Of Income Producing Assets And Or Resources!
Say strictly for hypothetical marketing illustration purposes only. You could pay someone (qualified!) to create a quality PDF (Portable Document File) special report for you.
Say anywhere from 3-7 pages in length. So it’s a relatively quick read for your target audience, agreed? For the vast majority of your major competitors who also go down this road to any degree.
This is pretty much all they’ll ever do. You on the other may decide to at least inexpensively test the degree of overall marketing leverage. For instance you create either a single or a series of closely related related MP3 recordings on your main subject.
And who knows. They may become extremely valuable list building lead magnets. Which could be strategically used to build your opt in email list. Or maybe you give them away as either single or bundles as free “make a fast decision” bonus gifts worth X.
To any future customers who purchase any of you or your top current or future JV (Joint Venture) revenue share or top cross promotional partners higher end products or services.
Every Information Product Or Service You Crate Or License Doesn’t Earn A Ton Of Money On Your Initial Front End!
The same could potentially apply to your first or subsequent books. You (like a ton of other extremely marketing savvy authors!) Are strategically using their books to initially position themselves as one of the main go to experts in their particular niche, correct?
So they don’t end of being dependent on the much anticipated book sale royalties which rarely if ever show up. At least not to the degree the authors thought they would.
Developing Some Type Of Reliable Back End To Your Business Or Service Is Definitely A Proven Form Of Long Term Success Insurance!
For instance, there’s the case study of the author of a book on “how to” save your marriage. Which initially didn’t sell very well. But an extremely savvy online marketer approached the author who in reality was a licensed “Marriage Therapist.” And they worked out a mutually beneficial JV revenue sharing arrangement.
Where the digital marketer typically kept around 60% of the gross front end digital book sales. After deducting typically 20% of his ongoing advertising/marketing costs. While the therapist pocketed the remaining 20 or X%. plus 100% of all the back end consulting fees the book generated.
Which also initially led to some local public speaking/ lead generation opportunities. Which ultimately led to some national industry specific public speaking opportunities.
And over time as other struggling book authors got wind of his creative book marketing success. He JV’d a co-venture with the online marketer.
Which they started offering high end consulting on “how to” successfully monetize their books. Without totally relying on front end book sales only. Then high end master mind events.
Plus the therapist created a podcast and began building two outrageously large and highly targeted opt in email lists.
1.) List A: The first one was for couples looking to hopefully save their marriages via some ongoing paid consulting packages.
2.) List B: Was initially for struggling authors who even though they managed to get a book published. They continued to struggle to generate any type of reliable income from doing so.
And the therapists also eventually after a few tries was able to successfully create a course around publishing and monetizing their book(s.) Of course the therapist also did and does their fair share of guest podcasting as well.
Hopefully it’s either becoming or it soon will be rather obvious. Why you and I definitely need to be constantly creating certain types of income generating assets. Don’t you agree?
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