One of the things that I used to believe about making more money in my business was that I had to get brand new customers.
That I always had to fill my pipeline with new customers in order to make more money.
But that’s not actually the case now.
It is important to constantly have leads that are coming into your business, but that is not the only way to be able to make more money.
In this article, we are talking about strategies to become more profitable in your business because I don’t know about you guys, it costs a lot of money to run a business.
You gotta pay yourself.
You gotta pay all the people for the softwares and the ads.
Then if you have contractors or people that work for you, there’s some expenses that go along with running a business.
And the only way to become more profitable is that you have to have more money coming in and less money going out.
If you wanna be more profitable, then you have to increase the amount of money that is coming in and decrease the amount of money that is going out.
I wanna walk you through some of the things that I have learned and that we have implemented and still are implementing in my business in order to become profitable.
So how can you increase your profits and your business?
Now, these are not in any specific order, but these are the things that I wrote down.
So one of the things that you can do in order to make more money is to create a suite of products.
What does that mean?
When I first started out, especially when I navigated into the TikTok marketing space, I only had one offer, and that is my course, Monetize the Tok.
And if that wasn’t doing as much as I wanted it to do, then I had to figure out ways to keep selling and selling that product.
Or we were doing live launches and we still do live launches, but when we were only doing that, we were 100% dependent upon a launch.
Like if we didn’t make enough money in that launch, then we were kind of messed up until we had that next launch.
And so I had to learn how to actually create a suite of products.
So right now in our business, we have a lot of different things that we can offer to help our customers.
We have, where I can do one-on-one, we have some group live classes, and we have digital courses that are automated.
We have the live launch course, and then as a company we launched TikTok account management services.
We are actually managing TikTok accounts for our clients, and then we’re gonna be adding Facebook reels, LinkedIn shorts, Instagram reels and YouTube shorts to manage our clients.
And so that is our way of adding more revenue by having a suite of different products.
Now, when you first start out, of course you don’t wanna have to try to do all these products at one time.
You wanna start out with one and then perfect that, and then you could do another and perfect that, and then you could do another.
But this is just a way for you to increase your profits.
The second thing I wrote down here is that you wanna have upsells.
Now what does that mean?
That means, we have a digital course, which is called Monetize the Talk.
If someone purchases Monetize the Tok for $597, we have an upsell where someone can then purchase an hour of my time.
So that course is automated by itself, but we have an upsell.
Or they can click and it will take them to where they can purchase an hour of my time as well.
Now that is something that is called an order bump.
And we could talk about that a little bit in another article.
But you wanna have that as an option because you know, sometimes people will come along and they come to buy this one thing.
And then when they’re getting ready to check out to get that one thing and you offer them the second thing, now guess what? They say, well, I want that too.
I went to vistaprint.com to get these little note cards cause I wanted to write handwritten notes to people with my name on them.
And when I was checking out it said you get envelopes for free, but also, you can get self-addressed envelopes, self-addressed stickers for your envelopes.
And I thought that’s great!
They keep me from having to write my name on all these different things. And it was a order bump. I bought the next thing.
And they offered me a couple other things, but I didn’t really want that.
But because they made it an option. I made the purchase.
And so you wanna have these upsells with people with your products.
That way if a person is interested in buying multiple things from you that they can because you offered it.
The third thing you can do to make more money in your business is offering down sales.
What is a down sell?
Down sale is, let’s just say we have my course Monetize the Tok, the automated portion, which is $597.
Let’s just say we make an offer to a person on an email or sales page or whatever, and the person goes to check out and they’re not gonna buy it.
We can have a down sell that pops up, right where it offers them.
It may not offer them that specific course, but this down sell will offer them our mini course, which is called a Create on TikTok, and it’s only $150.
And so it’s like we offered them this at $597. They didn’t take it.
And so then this down sell came.
And so now this means that you’re gonna have to have your systems, your processes, and all these things kind of automated.
But just think about that, people come all the time and they see a thing, and then sometimes for whatever reason, they don’t make the purchase.
Sometimes it’s money and sometimes they’re just not ready to make the purchase.
But we have these down sales and we’re, they’re like, “Oh, so I wasn’t ready to spend 597, but I can definitely spend 150.”
Boom, done.
Right now, you’ve become profitable in a way where you wouldn’t have made the sale because the person wasn’t ready to purchase the first product.
The fourth thing you wanna offer to become more profitable is you wanna have an offer bundle.
What does that mean?
That means that for example, let’s just say that I have Monetize the Tok for $597, and then I have a one-on-one call with me.
And then I have some templates.
Normally, it would be $597to $750, and then I think it’s like $36 or something like that.
And in total, it’s gonna be $1,300. A little bit over $1,300. Andalmost $1,400.
And instead of them getting it a la carte at $1400, I can say, “well, this is normally $1,400, but if you invest $1,000, you’re gonna save $400”
That’s hard to pass up. Especially if they want all three.
They’re not sure.
I’m not telling you to do a major discount, kind of like what I just did with that offer.
But when you offer a bundle, you’re just taking a little bit off of each thing and then now you’ve upsold where somebody was just gonna buy the one or they were gonna buy the two, and then now they bought the three because they got it in a bundle.
We get bundles all the time, it’s like you go to the grocery store and you plan on buying one pack of whatever, and they say, but if you buy five, you’ll get the sixth one for free.
You weren’t planning on having six bags of Lays potato chips in your house, but you’re like, “Well, it’s gonna be a big discount if I just go ahead and get it.”
We’ve all been there.
Whatever your thing is that you saw Kroger, Vons, Ralphs, H.E.B. whatever you’ve been to, we’ve all been there.
And so you can, you can offer bundles.
Now the fifth thing that you can offer is you can offer group coaching programs.
You can offer group coaching programs especially when I first started out, I was doing a lot of one-on-one, but our time is limited.
There’s only so many people you can talk to in a day, and there’s only so much energy and creative brain space that you have in a day.
So you can’t work with too many people in a day.
So let’s just say my, my hourly rate is $750. And that’s for an hour.
But what if I took that down to, let’s just say $300.
For a group coaching program, it’s four weeks.
It’s four hours. And they pay $300 each.
And I was able to sell it to 50 people.
Like it’s the same for hours. Except it’s in a group experience.
And then you can offer them a Facebook community where you’re with them every single day. Over the next 30 days, you made way more per hour by offering a group coaching experience.
Especially if you set it up to where it’s a really good experience.
So I have a group of people right now going through a program which is called Implement, where I’m helping them build their sales funnels and all those types of things for one particular offer.
On night one, it was supposed to be an hour, but it was actually two hours. Cause I wanted to over give.
But each person only paid $200 to be there. But they got so much out of the call because I worked with each individual person.
I gave them what they needed.
But if they kept listening to me talk to the other people, they got so much during that time because they’re watching me talk to other people.
And then as they watched me talk to other people, in the Facebook group, they’re gonna be like, “Oh my God. I didn’t know I needed that, that and that. But I got it because she was talking to them.”
But I was able to become more profitable because in the same amount of time I’m spending, instead of spending it with one person, I’m spending it with a group of people and we’ve made more.
The last thing is the way to become more profitable is that you have to watch where you are spending your money.
You gotta watch where you’re spending your money.
And I’ll give you an example.
So we have been with GoDaddy for years because that’s the only hosting platform that I was familiar with.
I didn’t wanna go through the hassle of trying to move from GoDaddy to somewhere else.
But GoDaddy finally upset me.
One of the ladies hung up on me and I said, “Enough is enough.”
And we were spending so much money with GoDaddy. So much money with them, like every month, every quarter. It was so much money.
I posted on TikTok and they were like, you should go to Hostinger or SiteGround. And a bunch of people said the same thing.
So I’d sent it to my tech person and said, “Can you look into Hostinger and SiteGround?”
And when we looked at them both, she was like, “Well, you can move everything from GoDaddy for $230.”
And that’ll last for four years, like a total for four years.
And I was like, “You mean SSL, firewall? Like everything like that for four years.”
And she’s like, “Yeah.”
And if I calculated how much I spent with GoDaddy per year, I owe Hostinger like my next, my first child. Because I’m amazed.
So the amount of money that we’re saving on moving is phenomenal.
Then we had someone who was managing my podcast for me, loved her, very sweet, but she wasn’t helping me grow.
She wasn’t giving me any growth strategies and we were paying a thousand dollars a month.
For one podcast, and we have two, the Kennya Kelly podcast and the You, Me, and Jesus podcast.
So I looked around to see who we could find, and now we have somebody else.
I think it is like $450 a month for two podcasts.
And we already have all the growth strategies that we’re just implementing.
We just saved so much money by finding someone else, and we’re teaching that person how it is that we do what we do.
So that way we’re not getting any less quality.
It’s just we’re just saving money.
So those are the ways that you can make sure that your business can be more profitable.
It doesn’t mean you need to implement all of them or all of them right now.
But you at least wanna start with a couple.
If you are saying to yourself that you need help with that and you want me to help you with that, I can help you.
I do one-on-one consulting. Just click here for more information about this program. You can book a one-on-one call with me and I can help you with all the things that we have talked about in this article.
We do have some courses that really walk you through all the things of TikTok, how to market your business and make money on a TikTok platform.
And also, we do have a TikTok account management service where you are able to just record the videos that we give you, the scripts, and then done. We will upload and edit the videos and we will do all the comments for you. So if you’re interested in this, just fill out the application form here and we will keep in touch with you.
We look forward to working with you.