The Online Business Model for RockStar Empires and WP Elevation.
This is an outline of the online business model we use for RockStar Empires and WP Elevation. I wanted to share it here so that all our followers can be on the same page, and have a clear understanding of what we’re all about, and where we’re headed over the next few years.
The Online Business Model for a Media Company.
In essence, we are a media company which for the time being, produces three types of media output including blogs, podcasts, and the RockStars TV show that will soon be rolled out for viewers. The overall objective of our media company is to provide helpful and practical information, using the best available technology to help our readers, listeners, and viewers overcome their problems and achieve their goals.
How We Help Our Audience.
The general marketplace can discover us through a variety of channels such as these, to drive traffic to our media outlets:
- paid traffic through Facebook Ads
- organic reach, including searches and people just finding us online and referring us
- formal referral partners
Once people have been directed to us, we assist them with overcoming their issues through the various forms of media outputs mentioned above, which we develop and disseminate to our audience.
As a result of the media outputs we regularly make available, our company generates a number of leads – people who are genuinely interested in the kind of content we deliver and want to learn more about us and what we have to offer.
The lead capture devices we use to generate these prospective followers include:
- software, for example our White Label CMS plug-in for WordPress
- upgrades, such as email templates
All of these lead capture methods provide us with the email addresses of interested people, who we can then contact to follow up on their interest.
Once someone has shown interest in our products or services by opting-in, we then offer them an entry-level product, either immediately after signup or within a week or two of their initial contact, following a period of nurturing. These entry-level products might be any of the following:
These entry-level products might be any of the following:
- a small, inexpensive course
- software, for example our Video User Manuals plugin for WordPress
- a paid webinar, or series of webinars
The purpose of providing followers with entry-level products is to segment them into buyers who are willing to invest money to take their learning a little further. The products offered to people will be based on what they’ve already shown interest in when they first opted in with us. For example, if someone has signed up for an e-book centered around ‘Recurring Revenue’, it makes the most sense to offer them a course on that same subject.
Progression to Flagship Products.
When a follower has purchased an entry-level product and shown that they’re interested in digging into the material at a deeper level, we present them with an opportunity to review our flagship products.
At the present time, our flagship courses are the WP Elevation Business Training Course for WordPress consultants, and the RockStar Empires Course on creating and selling your own courses, for creative entrepreneurs.
There will be many more of these flagship courses rolled out in the coming year, based on interests expressed by our leads.
The Ultimate Goal of our Online Business Model.
The ultimate objective in our online business model is to develop a kind of ‘inner circle’, and stage some live events for the top 20% or so of our course students – those who are keen to meet up in person and become real masterminds that achieve spectacular results.
These live events have tremendous power, especially since most of our audience are confined to their homes and offices where they conduct their business, and crave that real-life interaction. As long as the live-event economics make sense and can be conducted profitably, we’ll continue to run them.
In order to do this, it means that we need to funnel more people into the flagship courses; and to do that we need to sell more entry-level products; and to do that we need to generate more leads through all channels available to us.
You can see that this logical, backward progression makes for a sound online business model and that its solid design will allow us over the coming two or three years to make it sustainable, profitable, and fun for everyone who chooses to be part of it.
I'd be keen to know your thoughts on this model. Do you use something similar? Are there any crucial components missing?
Now… time to get to work!