[QUICKIE] How to create content to sell passive income products (a reality check)

IMPORTANT: THIS TRANSCRIPT IS AUTOMATICALLY GENERATED. WE GIVE IT A QUICK CHECK THROUGH BUT WE DON’T CORRECT EVERYTHING AS IT’S INTENDED TO HELP YOU FIND PARTS YOU WANT TO LISTEN TO AGAIN - NOT AS AN EXACT TRANSCRIPT. SO THERE MIGHT BE A FEW QUIRKY WORDS/PHRASES HERE!

:: 00:01

Are you busy creating content for your business because you'd love to sell one-to-many products, online courses, memberships, that kind of thing. I'm Janet Murray. I'm one of the UKs leading content marketing experts. And I have launched dozens of online courses. Memberships, physical products, high ticket. One-to-one coaching, you name it. I have watched it. And in this short episode,

:: 00:23

I want to take you behind the scenes of my business and show you what's involved. Last week, I ran an Instagram reels challenge more than 300 business owners registered. We offered a really cool prize. Well, prizes is actually, but just 27 participants submitted all five reels to our messenger bot to enter by the deadline. So about a 9% completion rate,

:: 00:49

which you may be surprised to hear. It's actually pretty good research shows. Online course completion rates are typically as low as 5%. And as they're often mainly self-study, I guess you can kind of see why, but here's the thing I couldn't have done anymore to get people to complete my Instagram reels challenge. During challenge week, I offered a pre-challenge briefing for Facebook live to kick off reels week daily task emails.

:: 01:18

So I sent an email every single day with a task clearly explained with a template people could use to create their reel and an explainer video. I provided tutorial videos for all of their tech bits, a Facebook group, where people could ask questions where they got stuck daily Facebook live broadcasts in my Facebook group, which challenge participants could use for the duration of the live challenge.

:: 01:40

They were also daily prompts and reminders from our messenger bot, even little certificates for completing tasks and prizes for those who completed the tasks. Now, if you invested in this challenge and you didn't complete it and are starting to feel defensive, I want you to stop because this episode is not about you. It's not even about my Instagram reel challenge. It's about the passive income dream,

:: 02:06

the laptop lifestyle that gets promoted all over social media. This idea that anyone can rock up online and launch a successful online course or membership and make passive income, which is all perfectly possible. Of course I've done it, but it's hard. And it's not just hard because you need to put in the graph to build an audience to sell to many. So the average online conversion rate is just one to 2%.

:: 02:33

So that should give you an idea of the numbers of people that you need to have on your email list to sell digital products, online courses, memberships, but it's hard because you have to live with the fact that most people who buy your digital products probably won't complete them. Some of them won't even start them. Now that's not necessarily a bad thing because what they do learn will still move them forward.

:: 02:54

Even if they only complete parts of your course, that one nugget that they get, or those tips that they get from getting 30 or 40% of the way through that will almost certainly move them forward if it's good content, but it's still hard because if you're an online teacher and you've got integrity, which I like to think I have, you want your students to do well.

:: 03:13

You want them to take advantage of everything you've created for them of all the experience that you've packaged up and all the tips you've got for them. So personally, I've had to accept that. However many things I do to ensure my students will get a good outcome from my digital products. I gave you that big, long list at the top of the episode,

:: 03:33

which has grown and grown, the more experienced I've got, the more challenges that I've run. I've got better and better at anticipating what people will need, but even with all of that, some students still will not succeed. And it's not your fault because people are juggling so much in their life and their business and even lovely, lovely people with the best intentions in the world,

:: 03:55

buy off more than they can chew. They sign up for things that maybe they don't have the time to do, or sometimes they don't even really want today. They think they want it. And then they start getting into it and think, do you know what, actually, I think I'm better focusing on the other thing, all of which is perfectly valid.

:: 04:11

Others unfortunately want the outcome without doing the work. So they'll ask you for advice that they will ignore and some will not do a stitch of work. I mean, they won't even open your course and then blame you when they don't get the outcome that they desire. And that's hard if you've not sold one too many before, if you've sold higher ticket coaching or consultancy,

:: 04:34

for example, it may surprise you to learn that people who pay the least often the most demanding, and they're often, far more demanding than high ticket clients. For example, last week I got called some really pretty horrible names by someone who had signed up for my Instagram reels challenge were clearly holding all of the communications, including the sales page, that they would have access to the Facebook group and the live broadcast that I did during the challenge week only,

:: 05:04

they would still have access to all of their daily challenge emails with the little videos and the templates that they had, everything they needed to complete. The challenge. This person had paid nine pounds to take part in the challenge, but called me all sorts of names that I was money-grabbing. And also because they didn't finish the challenge during the challenge week, they still had all of the resources to do it in their own time.

:: 05:27

It has all been communicated clearly to them, but they wanted their own way. They wanted free access to one of my other products and they didn't like it. When I said, no, it's also much more work to sell passive income products. For example, this week I've created five different email segments with different copy for my Courators Kit. If you haven't heard about that.

:: 05:50

It's my digital self-study kit, which has a hundred social media posts, templates thousand grabbing those social media posts has monthly content plans has my client generation masterclass, which is the famous one. That's helped loads of my clients make thousands of pounds. I taught it up yesterday and I'd created over 6,000 words of email marketing copy. And that's just marketing copy to promote that offer along with a five-part email sequence,

:: 06:19

which was about 1500 words. And that doesn't include any social media posts or any of the visuals. Now, the reason we did that is because you can't send people the same content who are at different stages in their journey with you. Well, you can, but your results won't be as good. So someone who has just come into my world that could be you,

:: 06:42

this could be the first or second podcast that you've listened to. You might need to listen to quite a lot more podcasts before you feel, you know me well enough to invest in one of my paid products or services. Maybe you've been following me on social media or listening to my podcast for ages. Maybe you've invested in everything I have ever put out there.

:: 07:01

And you're not sure about my creators because you've got everything you're going to need to hear something different than that person. Who's just come into my world. For that particular campaign. We found that there were a group of people on my list who just weren't opening any of my emails at all. And they certainly weren't buying. So we took them out and we created a special email for the people who were opening,

:: 07:26

but weren't buying it worked. We got good sales from that particular email, but that's five lots of email campaigns on top of everything else that you have to do for a launch. Don't get me wrong. I'm not trying to put you off here. I love teaching once many. I love selling digital products and physical products. I prefer that to high ticket.

:: 07:47

I do do some high-ticket coaching. I do a little bit of one-to-one and I run quarterly business and strategy between the business owners, small groups of them, but one to many is my thing. So I'm definitely not trying to discourage you from taking that path. What I am trying to do here is to give you a gentle reality check about what's involved,

:: 08:09

particularly around the content side of things, because not only do you need a thick skin, you also need to create a heck of a lot of content. And if like me, you love creating content. You love seeing how people react to your content and then tweaking it to get better results. You're going to love on some many, if that sounds like your idea of how there are easier ways of bringing money into your business.

:: 08:38

So I hope that's been useful and insightful. I would love to know what you thought of this episode as ever I do love hearing from you. And the best place to connect with me is on social media. I'm at Jan Murray UK on most social media platforms.