Growing an online course business is SIMPLE, but not EASY. If you want to supercharge the growth of your online business, there are FOUR core levers available for you to pull on.
The secret to BIG success? Taking FAST action, knowing which lever to pull based on the data you receive from the action you take, and continually optimising.
In today’s podcast episode, we are breaking down the FOUR levers you can pull to supercharge the growth of your online course business.
Listen On: Apple Podcasts | Spotify
✔️ Lever #1 – Lead Generation
The first lever to pull to grow your course business: more leads. Of course, this is the most obvious lever. The MORE people that see your offer, the more chances of selling it. It’s also the one lever that people MOST underestimate. A dedicated and consistent focus on lead generation AND authority/visibility (two very different things) is a critical “forever” skill for you to master as a course creator.
✔️ Lever #2 – Conversion Rate
Your conversion rate refers to the percentage of people that SEE your offer and take action on it. Ultimately, for every 100 eyeballs on your offer, your benchmark is 1-5 sales. As a course creator, you should be OBSESSED with increasing your conversion rate using a process called “conversion rate optimisation”. This is a “forever task”.
✔️ Lever #3 – Price
The higher your price, the FEWER leads you will need to reach your goal. Pricing is one of the most nuanced – but important – elements of offer design (and one course creators so often get “wrong”).
✔️ Level #4 – Increasing Revenue Per Sale
One of the BEST ways to supercharge your revenue growth AND your profit is to increase the revenue you make from the students/clients you already have. Upsells, down sells, cross sells, ascension offers… Once you have the “fundamentals” of your offer in place, padding out your offer suite with these offers is the BEST way to grow WITHOUT needing to increase your number of leads, your conversion rate OR your pricing.
To sum it up…
The art of “pulling the right lever” is one that every course creator needs to master to supercharge the growth of their online course business. Analysing data and knowing which to focus on is a learned skill we work with our course creators on inside of our group coaching program, Launchpad.
Are you ready to create, launch and scale your flagship digital course? Head to thecoursecartel.com/launchpad to apply for our 12 month, high touch group coaching program.
Keep Listening!
Listen On: Apple Podcasts | Spotify
Design a Simple Lifestyle Business With High Profits, Working 5-Hour Days & a Tiny Team
Get one actionable step each day for two weeks, and then weekly thereafter. It's 100% free — join 7000+ others.
