Pay It Again

You’ll hear a lot of celebrity entrepreneurs talking about recurring revenue and how it is super great for your business. And it IS super great.

Finding new customers to walk through your shop doors (virtually or literal doors) is one of the biggest expenses you’ll take on in your business.

What does Recurring Revenue Actually Look Like

  • Subscription Boxes
  • Subscription Services
  • Retainer packages. Graphic Designers can use these easily!
  • Auto-ship
  • Membership sites. Membership sites does not have to mean you have to continuously be creating content or putting out product to keep members. Want to know more or get ideas for your business? Meet you in the Catalyst Workrooms to create a signature plan that works for you.
  • Extended service plans (This can be really great if you’re a service provider who initially sells a package and the client wants regular implementation checkups or audits. Think about how you can sell a quarterly audit and implementation to past clients before the initial package is up)
  • Booking re-occurring events or photoshoots. You did a launch for a client and they know they will be launching a year from now, they put down a deposit to book you for the next 4 launch cycles. Photographers: You offer a big photo shoot once a year with quarterly mini sessions.

Basically how can you keep engaging your current clients to keep spending with you on a regular basis. I used to sell loose leaf tea and one of the best things I could ask when someone bought from me for the first time was if they wanted to be on my one month, three month or six month refill reminder email list. This isn’t exactly recurring revenue because it still prompted them to buy but I could also have put them on an auto-ship if I had the technology back then as I do now. It did lead to a tea membership where they got two tea bags sent to them once a month to stock up their supply.

Recurring revenue is not future payments on a package deal. It is the ongoing customer relationship where your client keeps paying you for ongoing product or services rendered.

Take it a Step Further

Before launching down the path of recurring revenue, think about a communication plan or onboarding plan that you will put in place to not only help people keep using your product or service but to help them recommend you to others. Especially if you have an affiliate plan in place to compensate the folks who talk about you the most. With the Catalyst we have 30 emails over the course of six months that gives members ideas on how they can use the Catalyst to grow and scale their business. We have the nourishment business owners love – so why not tell them about it so they can get all they need?

Want to Brainstorm Your next Recurring Revenue Idea?

Or maybe you want ideas how you can make it even better or market it to a bigger audience? Check out our online calendar (you can subscribe to the calendar too) for our next open co-working days or join Create the Rules Catalyst for more 1:1 and Community-Led support.