As a business owner, it’s important to create recurring revenue as it can transform your income stream by providing stability and predictability. Whether you’re looking to start small or scale big, there are countless ways to integrate recurring revenue into your business model. Let’s explore some of them!
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The power of recurring revenue in your business
Recurring revenue is essential for consistent growth.
Unlike one-time sales, it builds a foundation that compounds over time. However, as your price point increases, so do the expectations of your audience. To deliver value and meet those expectations, it’s important to tailor your offer to their needs.
The beauty of recurring revenue lies in its scalability. Once you set up a solid foundation, every new customer builds on the progress of the last month. You don’t need to constantly resell to the same audience—your efforts compound over time.
For example, I’ve run a membership for over two years, and it has been one of the best business decisions I’ve ever made. Not only has it provided a stable income, but it’s also been incredibly rewarding to see it grow and thrive.
What type of offers to create for recurring revenue
When creating recurring revenue, there’s no one-size-fits-all approach. Think about what aligns with your strengths and long-term vision. Consider whether you’d prefer to start out small and play it “safe” or take the leap of faith and go all-in.
While lower-priced recurring offers like memberships can rely on pre-recorded videos or a resource library, higher-end programs will require more personal involvement.
For high-ticket recurring offers like memberships or group coaching programs, the value must be clear. These offers often include:
- Group coaching sessions
- Hot seat coaching opportunities
- Live masterclasses
- Monthly Q&A sessions
The recurring nature of these commitments means you’ll also need to show up consistently.
Low-ticket membership
Lower-priced memberships are an amazing starting point as they require less commitment and can be started more easily.
Most often, low-ticket memberships will rely heavily on pre-created resources. They’re ideal if you prefer to work behind the scenes: you can record the materials whenever you have the availability and release them according to your set schedule.
Some of the most popular low-ticket membership modules will include a concept of self-paced videos, available at any time, alongside with regular monthly or quarterly content updates.
Additionally, you may consider some type of group support like a community space or regular Q&A calls, although the lower investment does not specifically require this.
A regular price of such offers range anywhere between $7 – $99/per month.
Related read: Courses vs memberships
High-ticket membership
A high ticket membership, compared to the lower ticket one, would require more of your presence and potentially more of 1:1 involvment.
Such memberships often rely on MENTORSHIP as one of the key offers. Sometimes they also include done-with-you elements.
Along with the pre-recorded content, most high-ticket memberships will also include either of the following elements:
- Regular group calls
- 1:1 review sessions or calls
- Hot-seat coaching calls
- Additional access to support like Telegram or Voxer
Most high-ticket memberships will be priced within the range of $500-$1000/per month.
It’s important to note that high-end membership DOES NOT automatically mean providing unlimited support or a neverending list of features. It’s important to leverage what will truly matter to your specific audience, instead of overwhelming them.
High-end programs: recurring revenue based on payment plans
High-end programs usually are group programs that will last for a specific period of time, it most likely being 6 months or a year.
Such programs require higher investment and often come with payment plans which then create recurring revenue in your business.
For example, a 6 month coaching program sold for $4400 will generate above $700/per month from each customer. If you enroll 10 students, instead of earning $44k withing the enrollment days, you will be receiving $7k/monthly.
While not everyone will opt-in for payment plans, many might do, therefore, creating this recurring revenue for you.
High-end programs will usually be based on signature courses and include high-touch support, including some elements from high-end memberships as well like Live calls, coaching sessions 1:1 support availability.
Such programs is not something you may be able to do a deep-dive in on right off the batt as it’s important to have a solid curriculum as a base for this experience.
Done-with-you services
Done-with-you services is a hybrid approach that combines content or templates with personal feedback and reviews.
For instance, if you’re in social media marketing, you could provide monthly content prompts and offer tailored feedback to clients for a premium price. A fitness trainer may provide training plans + personalized feedback.
This type of support is easier to scale than done-for-you as it won’t require as much of your involvment.
The key is finding what works best for your audience and your business model while ensuring it aligns with your long-term goals.
Whether you start with a membership, high-end coaching program, or done-with-you services, creating recurring revenue is one of the best ways to scale your business sustainably. Explore what fits your strengths and your audience’s needs. Once you find the right model, the opportunities are endless.
If you’re interested in diving deeper into this journey, I recommend checking out the Savvy Offer Hub membership. You’ll find tools and strategies to help you build and grow your recurring revenue streams. Let’s start creating something amazing!
TO LEARN MORE AND STAY CONNECTED:
- Connect with me on Instagram @coursecreationlab
- Join Your Course Creation Membership to plan, create & launch your offer
- Listen to the Savvy Offer Hub podcast
