I was a bit nervous recording this episode because it feels like my offer suite is still in flux, it’s not set in stone, and I thought I need to feel 100% about it before I share it, because I don’t want to confuse you.
But then, that’s not what business is like most of the time, and hopefully seeing my thought process behind my offer suite is going to be helpful for you and might have you rethink your offers in your business.
Listen to this episode:
Let me start with what’s an offer suite, and how I think about my offer suite in my business:
A very common offer suite model is an ascension model where you aim to guide your customers through a progression of product offerings or services of increasing value and price. The goal is to encourage customers to ascend or move up the value chain, making higher-value purchases over time. This model is often used to maximize customer lifetime value and enhance overall revenue for the business.
When you create your offer suite, you typically think about the following kind of offers:
1. Low-Tier Entry Products/Services
- Offer inexpensive or free products/services to attract a wide audience.
- These products serve as an entry point for customers to experience the brand and its offerings.
2. Mid-Tier Products/Services
- Introduce products/services with additional features or higher quality at a moderate price point.
- Provide added value compared to the entry-level offerings, encouraging customers to invest more in the brand.
3. High-Tier Premium Products/Services
- Offer premium or advanced products/services with top-tier features, customization, personal support or exclusivity.
- Position these offerings as the pinnacle of the brand’s offerings, providing the highest value and benefits.
4. 1:1 Coaching and Services
- Offer personalized or customized solutions at premium price points, providing a tailored experience for customers willing to invest more.
5. Upselling and Cross-Selling
- Implement upselling strategies by encouraging customers to upgrade to higher-tier products.
- Utilize cross-selling to recommend complementary products or services that enhance the overall customer experience.
6. Subscription Models
- Introduce subscription-based models for ongoing services or access to exclusive content.
- Subscriptions can create a steady stream of revenue and build long-term relationships with customers.
My Simplified Offer Suite in 2024
My signature offer is The Mentorship, a year-long coaching experience where you’ll elevate your brand, your offers and your marketing to new heights and build a six-figure online business.
This is my focus offer. I know this deep in my soul, this is my legacy, this is how I change people’s lives. It’s also a high tier offer. It’s an investment, it’s a high-ticket program and the price is going to go up because the value is going to go up.
In 2022 I basically sold only this offer and had a six-figure year and, what was even better, the marketing was so easy because this was all I talked about.
Then last year, in 2023, I thought I needed to create more accessible offers, and I also wanted to add some new content to the mentorship and launched those as stand-alone offers, and you know, looking back, I was overcomplicating things.
Moving forward, I want to focus on The Mentorship because I love this program, it gets results and I love working with a small group of women in a deep way. I love the community part of it, I love hosting the calls, creating the trainings, making it better and better, and that will be the focus of my energy.
The great thing is, because it’s a high-ticket offer, I don’t need a big audience to reach my revenue goal. Actually, I’m restricting access to The Mentorship to 25 people max. When I manage to sell it out, with the new price of currently $7,500 pay in full, that’s $150,000 revenue just with that one offer for the year.
It’s an amazing program, but it’s not for everybody, I know that a lot of people in my audience are just getting started, and not everybody is ready to invest a premium amount when they don’t know you yet.
Actually, that might just be a limiting belief. Because most of my clients inside The Mentorship, they weren’t clients before. For most, this is the first offer they purchased from me.
But I believed that I needed something that’s more accessible, at a lower price point, and that’s why I launched my membership The Blissful Biz Hive last summer (I just called it The Hive back then).
I thought this would be great for people to learn how to grow their audience, create an email list, grow on Instagram, get their content creation strategy set up, and I created some amazing trainings in the last months for the membership.
But the truth is, it’s not been a success so far. I’m not sure yet where to go with this. I still like the idea of a low-ticket membership but I’m going to pause it for now. I might restart it in a few months, I might relaunch the Launchpad as a program to start your online business and create your first digital offer, but for now, I’m going to focus on The Mentorship.
It’s so easy to get overwhelmed when you’re trying to do all the things. The truth is, I like a simple business model. I like not having to work more than 5, 6 hours a day. Right now, my goal isn’t to grow a big team.
I’m ambitious and I have big revenue goals, but this year, 2024, I’m not going to make seven figures. My goal for this year is to create more financial stability and more recurring revenue and to get there I need to have an offer that sells reliably. I need a funnel that works and a marketing strategy that brings the right people in my world.
Many people think that to get to six figures, you need to create a bunch of offers or just work more. And that’s not true.
You can sell just one offer.
But unless you have a big audience, it needs to be a high-ticket offer, if you want to reach your revenue goals.
I get it if you want to be accessible and help everybody. But that’s what you do with your free content. I share a lot of helpful advice that’s free here on the podcast, on social media and in my events.
I also have downsells, smaller products in my new shop, upsells and of course 1:1 services.
Not everybody will be able to afford The Mentorship. Most people won’t. It’s not designed to be for everybody, because I don’t want to work with everybody. I want to work with women who really want results. Who show up and are ready to do the work.
If that relates with you, check out The Mentorship and send in your application today!