Is Your Niche Site Leaving Money on the Table?

Niche sites make more money – we’ve all heard that. But, if you aren’t creating multiple revenue streams in your niche, you’re just leaving money on the table.

Get Clear on Your Plan

I want to share with you a recent consult success story because I’m very excited for this client and I think it will inspire you too.

Right now she’s been dabbling in all 4 of the super business ideas she has. And, more importantly, she has been establishing herself with video and is already seeing the formation of a solid fan base with it.

Of course, the main reason she came in for a consult was to get focus and clarity on how to best monetize all 4 of these businesses under one roof.

And while she is an expert in all 4 areas, and they do have a bit of overlap, they actually cater to slightly different audiences.

Y’all have all heard the saying that niching down brings in more revenue.

That’s true, but only to a point.

Identify the Role of Income Streams

Look at BlogAid.

I offer a whole bunch of site owner related services and courses. I could focus on just one of them and do everything possible to make it wildly successful.

For the past several years I have focused most of my time and marketing to the site services business. But that is a dollars-for-hours model and it does have limitations for scaling.

The courses are not at all passive income because they have to be updated so often. But they are a create-once-sell-many-times business. More evergreen topics would be more passive.

Most of all, the courses are steady streams of renewing revenue that diversifies my income and offsets the fluctuations of the service business that has high and low peaks of activity.

Create Multiple Income Streams

Creating tiers of multiple income streams is what me and the new consulting client discussed.

And it’s something that I want you to think about too.

Do you currently have all of your revenue eggs in one basket?

Tier 1 Income Stream

Let’s say that you are currently blogging for ad revenue.

Consider that one tier of steady income. 

Yeah, it may fluctuate seasonally, but you should be able to have some income from it all year.

Tier 2 Income Stream

So, what’s your next tier of income?

Well, affiliate marketing would be the next logical step.

Are you actively seeking opportunities for that beyond just Amazon links in your content?

How about product reviews? Google wants to yours at the very top of Search these days.

And video product reviews are going through the roof on YouTube and Amazon.

Tier 3 Income Stream

How about selling your own product instead of just getting a low affiliate commission?

That’s where digital downloads come into play.

You can use it as a freebie to acquire a tribe of loyal followers.

But you can’t stop with that tier there.

You need to be thinking about how you can extract another income stream from the tribe you are building.

That’s where a paid digital download or course comes into play.

And Cath Hakanson of Think Smarter Solutions has (affiliate link) The Digital Product Sales Plan ebook that has everything you need to be able to easily set that up too. In fact, she created those ebooks at my request to help my clients add this tier to their revenue stream – and they are stellar!!!!

Tier 4 Income Stream

How about putting all of that expertise you have into helping folks in a more 1-on-1 type setup.

A mini course could do that.

Think about the DIY SEO course. We do live sessions and have standing tutorials. That way folks get to ask questions and get clarity on how to apply the lesson to their needs.

Tier 5 Income Stream

And here’s your top-tier offer – consults. No matter how much info you put out there on your blog, in digital downloads, or even in courses, folks are going to have one or two burning questions that they want to ask you. 

They have an idea. And because they’ve already seen you answer a whole bunch of other questions they have, they believe you can help them apply directly to their unique situation. That is a 1-on-1 imparting of info that benefits just that one person. So, it should be your highest priced tier because they are going to get a resolution that is custom fit for them. 

In the case of my clients, they are also going to make and save wads of money from my expertise too. It’s worth paying for – as any of my clients can confirm.

Are You Leaving Money on the Table?

Okay, so you have a niche site. 

Great!

But have you also niched your income to just one or two streams? 

Not so great!

I invite you to consider adding a new tier to your income and see where it goes.

My clients who added short-form video now have a whole new following and brand deals out the whazoobe.

My clients who added a paid digital download were shocked at how much extra revenue it started bringing in – including a client who made it a Donation button instead of a fixed price. Most folks paid double what she would have priced it at.

The point is, you may be selling yourself short by not even trying to add another revenue stream.

Get Clear and Make a Plan

Want to chat about how to turn your idea into money?

How about a review of what you offer now and ideas for what you could offer next?

I help folks make 4x more money than they even thought about.

How can I help you?

Contact me and let’s chat.