Convertico Blog/IP into Income/How To Get Paid For Your Knowledge

How To Get Paid For Your Knowledge

Wednesday, January 11, 2023

Many business owners, experts and professionals are looking for ways to create additional streams of income from their knowledge, experience and intellectual property. You want to find ways to grow your business and get paid more for the value you provide to your customers, rather than simply "selling time for money."

One effective strategy for doing this is to craft an offer that leverages your time, allowing you to sell one to many, rather than one to one.

However to leverage your time effectively, you should create a system for scaling your business and delivering as much of the value from your offer as possible.

Use sales funnels and marketing automations.

A sales funnel is a series of 'logical' steps that a potential customer goes through in order to make a purchase. The purpose of a sales funnel is to guide the customer through the buying process, from initial awareness of your product or service to the final sale. This is a deliberate customer journey, that ensures your leads get access to the information they need, in the order they need it, considerably reducing the risk of overwhelm normally associated with sending leads directly to your website.

Marketing automation is the use of software and technology to automate repetitive marketing tasks, such as follow up email campaigns, social media posts, onboarding and content delivery. By automating these tasks, you can free up more of your time to focus on other aspects of your business.

When used together, sales funnels and marketing automations can be a powerful tool for turning your knowledge, experience and intellectual property into additional streams of income.

Here are a few ways you can use them to get paid for your knowledge:

Create an online course or digital product: By creating an online course or digital product, you can package your knowledge and skills into a product that can be sold to many people at once. Use a sales funnel to guide potential customers through the buying process, from initial awareness to the final sale and marketing automation to deliver the course assets and drive up engagement.

Create a membership site: A membership site is a way to offer recurring revenue and continuous access to your products or services. By creating a membership site, you can create a community of people who are interested in your niche or topic, and charge them for access to your knowledge, on an ongoing basis, which you can deliver through exclusive content, webinars, or live Q&A sessions.

Offer coaching or consulting services: If you have expertise in a particular field that could support others get their results faster, you can offer group based coaching or mastermind services to help them achieve their goals. Use a sales funnel to guide potential clients through the process of working with you, from initial awareness to pre-qualifying their suitability, creating an application process and ultimately a transaction. You can utilise marketing automation to maintain excitement and energy, deliver promised assets, ask for feedback and enhance meeting attendance.

Whether it's one of the above or you create franchising offers, partnerships, acquisitions or licensing deals...

...using sales funnels and marketing automation allows you to scale your business.

In conclusion, sales funnels and marketing automation are powerful tools that business owners and exports should be using to monetise their knowledge and and create additional streams of income.

How effectively are you utilising systems to turn your IP into Income?

Do you know how your customer journey scores?

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Hi, I'm
Adam Bonner

Co-Founder of Convertico

I am a customer journey strategist, sales funnel and marketing automation specialist. I bring together my knowledge of offer and asset creation, marketing and building out customer conversion systems, to help experts and business owners generate more income from their knowledge and to grow their businesses. 

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