How To Add $100,000’s In Monthly Recurring Revenue Online
Written by Benson Sung
on February 25, 2018
| 2 mins 48 secs
Businesses are losing 62 billion dollars every single year because they don’t focus on optimizing this ONE core revenue pillar.
Can you imagine losing $62 billion? It’s ridiculous.
Businesses do it all the time; they focus on generating new revenue, new customers, without focusing on this core pillar.
My name is Benson Sung, and today I’ll be teaching you the secret formulas to add hundreds of thousands of dollars and potentially, millions of dollars in recurring retention revenue for your business online.
I’ll be giving you the recurring revenue and retention frameworks that you can use to save yourself a ton of time and money, and the proven ways to build this into your existing business’ revenue, so you’re able to grow exponentially.
The first way you can build more recurring revenue and retention into your business for your existing customers is to add more complementary products and services that are consumables.
Let’s say you are in the fitness space and you focus on personal training or coaching services, you can create an e-book or a digital product that you provide.
Turn that into an ongoing, recurring, monthly service or biweekly service. That’s one method to create recurring revenue.
You can create recurring revenue by adding consumables. You can add nutrition shakes, protein shakes, or a supplement into your line, selling them as an individual product.
The second way to create recurring revenue is to offer a membership or exclusive club that they can join for a monthly fee.
Introduce affiliate products and services that are in the software space for your specific target customers.
One of the most important parts of building successful and recurring revenue into your business is to focus on retention after the first purchase they’ve made.
When you get a new customer, you want to identify how you can make them a more successful customer.
The second sequence that you want to have in place is to introduce more experiences and introduce more recurring revenue is to assess their experience the first time around.
you also need to build a client success team.
This team builds your recurring revenue and retention.
if you don’t have a customer and client success team and you’re a one-man army, you can start by doing this on your own by identifying and building relationships,
helping customers get the best experience that they can get out of the product or service that they’ve already bought from you, and introduce more recurring revenue into your business after they’ve become a customer or client.
This is a strategy that I’ve used to generate millions of dollars for myself and my partners and clients.
What you can do is you can find complementary products or services from businesses that already exist, and cross-promote their products with your business, and then cross promote your products with their audience as well.
As you cross-promote each other and you figure out what is working, you can then take that research, that experience, and cultivate that product.
I’m going to give you the exact framework, tools, different methods, in all the different strategies that you can use to incorporate recurring revenue retention in an in-depth walkthrough, step-by-step, on an expanded post.
Go Digital Marketing University on bensonsung.com to get access to this post: https://bensonsung.com/digital-marketing-university/
It will walk you through recurring revenue models in much more depth.
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