Selling: Eight Experienced Tips From Ellie Talks Money (7-figure Entrepreneur)
Do you want to start your own online business, but you don't have the knowledge to develop an audience that will buy from you? Perhaps you have an online business or online course however, you're not selling?
It's not just you. One of the most common pieces of feedback we hear from teachers of creators is that they aren't sure how to sell and market.
Most often, it's something along like: "I know how to instruct and assist my students, not how to market or make sales! How do I reach the most people?"
So we spoke with the creator of 7 figures, entrepreneur and educator Ellie Diop of Ellie Talks Money.
Who better to give concrete advice on how to expand your online course's business and also sell it?
After being laid off from her work and divorcing, Ellie had to start the new chapter of her life. She decided to gamble on herself and begin posting her finance knowledge on the internet.
It was soon clear that the $40,000/hour coaching sessions she was offering weren't sustainable to provide for both her and her four children. Then, she decided to make changes to provide programs and other material which led to her making her first million 4 months later.
Here are her tried and true strategies to market your content and business.
The proven strategies of Ellie Diop for selling
Skip ahead:
- Perform market analysis in your areas of expertise
- Become your very own superhero
- Do not let one day pass without advertising
- Feedback is your most trusted buddy
- You can try different prices
- Create multiple products to sell
- Remind people of their worst pain points
- Consistency code is the only cheat code
Do market research on your areas of expertise
Let's say you are an expert in knitting. You enjoy knitting and have practiced for years. Your speciality is knit dog sweaters, and you want to teach others how to knit them too. It is possible to go ahead and launch your online course You know your specialization is, does it not?
You're missing an important element: conducting market study. Perhaps the market for dog sweaters alone is too small If you discover the market is larger if you to teach how to knit all types of sweaters for pets that includes dogs, and not just dog sweaters.
Make sure you are creating something that the market desires.
Provide services to people who are underserved
Ellie's industry is finance. Women particularly females of color are not represented and are often underserved. Finance content is not traditionally geared towards them. Ellie saw the opportunity for this and launched her own brand Ellie Talks
For example, if you're knitting You might find that knitting programs are generally focused on older age groups, and there aren't any courses targeted at younger people. Therefore, you decide to alter your branding and language to target younger millennials and pet owners.
Be your very own superhero
Ellie speaks at length on how important it is to recognize imposter syndrome. Ellie is convinced that you must strongly be confident in your own ability to succeed.
She suggests a specific workout that can help you overcome feelings of inadequacy. Grab a piece of paper or even a google or word doc and start writing your accomplishments down. They can be big and small, personal or from your private life, whatever - it doesn't matter.
If imposter syndrome keeps calling your name or you're struggling with an anxiety block, the only thing you'll do is go back to the list. This list will be proof that you've done all you've completed, even when you were afraid or unsure. If you are able to keep doing it, continue making the list and then repeat the whenever you are feeling uncertain.
The way Ellie claims, "you are the only person who will keep pressing you."
Do not let one day pass by without marketing
Ellie spoke about the necessity for consistent marketing over and over during her talk with us. When she first started her venture, she was posting on Instagram at least 3 times a day (using Later to schedule posts as well as Canva to create the posts). In addition, she posted a series of the posts she posted on her wedding day (scheduled prior to the wedding date naturally). ;).)
Take note of the posts that get the most engagement and make use of that information to guide the topics you design lessons and articles about. For example, when Ellie noticed the fact that her Instagram postings related to business credit got a lot of feedback and queries, she created her first class on the subject. It was an excellent stepping stone for her audience to take online classes since she could see that there was a lot of demand!
Other tips for marketing: Ellie suggests that aspiring creators look up what's being used by other businesses and then copy their strategies. You don't have to reinvent the wheel. It is also recommended to connect with fellow creator-educators and entrepreneurs in order to expand your circle. It is possible to learn about how they are converting their audience into customers and possibly cross-promote the other.
Feedback is the best buddy
When Ellie began her journey the course, she offered her free course to people who engaged most frequently with the posts on social media for about three to four months. The only thing she wanted in return was that they provide their feedback about the "beta" course when they were done.
You can try different pricing
Ellie priced her first course at just $15. The price was not a great deal of thought in choosing this price, aside from the fact that she wanted it to be affordable for a regular person. In particular, since her first release occurred during the time of the pandemic and she did not want that price to be outside within the reach of many people's budgets.
Eventually, after she began to gain popularity, she raised her prices to around $100. The current price range is $297-$497 on most of her programs. She advises creators to take a look at the prices others within their field charge and then go from there. For example, if someone with more experience than you is charging $150, perhaps you'll begin by charging $100 and raise your prices as you gain more knowledge as well as clients.
Ellie's top tip Prices that begin with the number 7 usually be more expensive than those that are a different number.
Create more than one product to market
Diversifying your income is the best way to earn greater money quicker. Ellie says that she has done this right from the beginning. Along with offering online courses, she offered PDFs and electronic eBooks for download right from the beginning.
Now, you don't need to complete everything at once! Pay attention to what sub-topics within your niche appeal to people via the social media and the rate of completion for courses. It is possible to create an online community, and ask for specific feedback regarding what subjects people are most interested in.
Once you find those topics you like, make other content available for download for sale or to offer for free in exchange for interested people's email addresses.
Make people aware of their pain points
We're not talking about reminding people of their anger for no reason. Ellie swears the best way to get people's attention and sell is to identify their pain points and then tell them you have the solution in the same blog post.
It's a formula: If the answer is _____ then _____. In other words, if you're frustrated that you can't complete your tax returns If you're frustrated, you should take my simple 5-step guide for completing taxes in 1 hour. The course isn't your only method of writing about your products, but it's a great start to ensure you understand what your audience's pain points are, and the ways you can help them make their lives easier.
Consistency code is the only cheat code
Ellie's biggest takeaway that she stresses is the fact that only consistency can help you build your business. Even if you take all necessary steps, you won't increase your following and eventually convert them to customers if you don't have a consistent approach.
It means constant marketing, consistent communication (for instance, replying to direct and email messages) with consistent value offerings.
If you follow these suggestions, it can help you to make sales! Sure made it easy for Ellie.
If you're just beginning your journey to online courses, or looking for more selling tips, check out the ultimate guide to creating and selling your online course.