I was asked a question in my Facebook group about how to make more money with your brand and online course. He explained he is using Udemy, Etsy, books, and his own website. In this episode, we talk about how to increase those earnings for your brand!
Tips on How to Make More Money with Your Brand and Online Course (Ask Sharon #7)
Transcription
Below is a transcription of the podcast. This transcription was taken from Otter.ai so it might not be completely accurate:
0:02
This is the digital nomad quest podcast with Sharon Tseung. teaching people how to build passive income,
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become financially free
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and design the best lives.
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Hey guys, it’s Sharon from digital nomad quest and today I want to go over a question I received in my facebook group. And if you guys want to join my facebook group, it’s the passive income online business entrepreneurs Facebook group and you’ll be able to collaborate chat and talk shop with other like minded individuals and entrepreneurs. So go ahead and join that I will leave a link below in my description. So let me just briefly go over the question. So basically, this person is selling mugs on Etsy and secondly he’s also trying to build a business and brand around teaching others how to be successful in building a government contracting business and he currently has a Facebook group of around 500 members congrats and 110 subs on YouTube and a an email list of 100 and a website and it’s been since July 2018. And he can see long term potential. He has published two books on Amazon and created three courses on Udemy. But it’s all together earning less than $100 a month. And I had to clarify with him the separate thing on Etsy is actually making him more so it’s making over 500 bucks a month if he wants more, he wants to know if he needs to switch strategy. So I wanted to cover my answer over this. So basically, I thought the second business sounded awesome. I thought it was very specific and its niche. I thought that can have a lot of potential in that because they’re selling on Udemy, though, I really feel like that’s undercutting their value. So Udemy undercuts prices a lot. They always have all these like constant sales, and it makes the prices of courses like $10 I don’t feel like that’s a good way to brand yourself unless you don’t really have your own website and you just want to sell digital products online. Like that’s one way to start because they do have a marketplace where people can search for you and then buy your stuff. But if you want to be serious, I actually believe in going with teachable and branding as your own website. So that’s what I do right I have a course on my website I use teachable to host it. And what that allows me to do is I can price it as high as I want to, I price it as what I think the value of the course is, right? When you price really low on your course it really makes other people think it’s not worth that much. It’s not that high value, okay? It’s very important to price your courses accordingly to what you think you deserve and what you think the course should be priced that if you put in tons of work and you think it’s actually like $1,000 course and pricing at $10 people will come onto the course and think oh, this is like probably not going to teach me what I need to maybe I shouldn’t even buy it, okay, it’s actually a psychological thing, right? You actually want to price it higher. So they realize it is something they should invest in and that they believe it’s going to teach them what they need to do when you’re making a course if you want to get them from A to B Okay, you want to make sure that they get to be they don’t get the benefit then it’s not worth them spending that money on the course. So pricing your course at the right amount is important so that they understand that they’re going to be able to get the benefit from taking the course teachable also gives you a lot of options. So lets you make your sales page and lets you create all your modules lets you add worksheets, Alexia videos, multiple videos, it lets you add text PDFs, whatever you want to add, it also lets you create an affiliate program within the platform that lets you create coupon codes yourself. So you don’t want you to me to just do whatever to your course and like price it as low as they want to this way you don’t give the other platform the ability to do that. So that’s why I love teachable and I really feel like this person should go into teachable and like do that instead of parsing it on Udemy. Another thing is when you’re making 100 bucks a month on your own brand, that’s actually pretty impressive. It was within a year’s worth of time a year and a half. It’s a long game when you’re building your own brand. So you got to keep hustling, you got to stay consistent. You also should try to do something like creating a lead magnet using ConvertKit. So I love ConvertKit and teachable now. So I love those two things. help me grow my brand. And I really advocate that. So for this person, I would say create a free offering, get them into your email list, and then lead them to your courses. Yeah, so that’s my advice. I think that it’s a matter of kind of building your brand more, getting more eyes on your brand and trying to create digital products that will help them but also make them feel like they need it. I think there’s still a lot for this person to study around doing this stuff. But it’s also like you’re doing really good if you are making money already on your brand, and you just kind of started so it still takes time to build your brand, right? Don’t expect immediate gains. So I’m trying to put together all my knowledge into different courses right now, but there are some courses I recommend currently, if you are looking into them, I’ll put them in the description below as well as the link to teachable and ConvertKit But anyway, hopefully this answer this person’s question. You always got to keep hustling. stay consistent, think smart and try to build your own brand that’s not dependent on a marketplace algorithm. You know, I love both sides. When you’re selling on a marketplace. You can leverage in the marketplace for marketing purposes, but if you are creating your own brand and people are finding it organically, that’s very impressive. And that’s something that you have control over you have an email list, you don’t have to worry too much about losing your customers or losing your whole account or platform or whatever, right? That’s why I think building a brand it might take longer to monetize, but it can be very powerful and very lucrative if you think long term.
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So I hope you guys enjoyed this episode. Please make sure to rate review and subscribe. It really helps our podcast grow. And thanks again. I’ll see you guys in the next one.
Transcribed by https://otter.ai
