I’ve been creating e-books, webinars, and online classes for the past twenty years as part of my consulting businesses. My primary reason for doing so is to turn my consulting knowledge into passive income streams. But I’ve also noticed an amazing secondary effect: creating e-books, webinars, and classes has helped me boost my consulting revenue as well.
I have found that there are three primary ways that creating these types of passive income products can help boost your consulting revenue:
#1: Establishing Yourself as an Expert
Packaging your knowledge into e-books, webinars, and online classes helps to establish you as an expert in your niche. When potential clients see that you have one or more e-books available on Amazon, or that you regularly teach webinars in your industry, they are more interested in working with you and more willing to pay higher fees for that work.
Right from the outset, I noticed that creating passive income products helped me boost my consulting revenue. Think about it: if you were looking at two different consultants for a project and one of the consultants had a best-selling e-book on the subject with lots of great reviews online, wouldn’t you be more interested in working with that consultant? Wouldn’t you be willing to pay a higher fee to work with the author of that book?
Passive income products help establish you as THE expert in your niche, which in turn leads to higher consulting revenue for you and your company.
#2: Helping More Clients Find You
Another way that creating e-books, webinars, and other passive income products will boost your consulting revenue is by helping you find more clients. There are two main ways that packaging what you know into products will help you find clients:
First, you will be active on more platforms, which will allow more people to find you. Right now, you may only be active on your own website and on social media. But after you write an e-book, people will be able to find you on Amazon and other e-book platforms. That way, when someone searches Amazon for “how to win a local election,” your book on winning a campaign will come up. After they read your e-book, they may decide to hire you to help them win their race, bringing in more consulting revenue for you.
Second, if you create amazing passive income products you will start to generate more buzz on other websites and on social media platforms. If someone takes one of your webinars or reads one of your e-books and absolutely loves it, they’ll talk about it on their own website or social media. Likewise, webinars, e-books and classes give you something to talk about on other people’s podcasts and interviews. Like a guest on The Tonight Show hawking a new book, you can go on podcasts and video shows in your niche to talk about your new book or class.
#3: Consulting as a Product Add-On
One opportunity for increasing your consulting revenue that you may not have thought of is by including consulting or coaching as an add-on or upsell when selling passive income products. If you’re building a value ladder in your sales funnels for online products, one of the final steps in that ladder can be a coaching program or other consulting package.
For example, you may offer an online class for $199, and after someone purchases the class they get offered a special, one-time-only offer to join your coaching program for $997 per month (discounted from the normal $1499 per month price). Software platforms like ClickFunnels (affiliate link) make creating this type of upsell easy.
Obviously, most of the people who buy your class won’t also purchase the coaching program but a small number will, which will bring in new clients and boost your consulting revenue.
Boosting Your Consulting Revenue While Building Passive Income, Too
Your best strategy for growing the overall profit in your consulting business is to create digital products that build passive income streams while also boosting your consulting revenue. Creating e-books, webinars, and online classes will position you as an expert, help you find new clients, and allow you to add consulting as an add-on in your sales process. Ultimately, you’ll build a nice passive income stream while at the same time grow your business’ consulting revenue.
Not sure where to start with creating passive income products for your consulting business? Check out our guide How to Write a Bestselling E-Book!