In the summer of 2017, I was invited to speak at a conference about the success of my eCommerce business. The audience I was speaking to was made up of eCommerce business owners who’d already spend $2,500 for a video-based training course on how to make their companies more successful.
As a result of that speech, as of Oct 2019, we’ve now sold $1.7 million worth of a digital product that is a collection of the standard operating procedures (SOPs) that we developed to run our eCommerce business.
At the time that I gave the speech, the product we now sell didn’t exist. The only reason I created it was due to the overwhelming number of requests that I received to allow these entrepreneurs to buy a copy of the SOPs that we’d developed for our internal use.
From this experience, I learned one very valuable lesson: if you are using only videos to train your customers how to do things that will help them to be more successful, you are missing a huge opportunity to increase engagement and grow LTV; especially if a decent portion of these activities are the types of things that your customers are going to have to do over and over again. Read more