Updated: May 8
When I visit with business owners across the world, one of the themes that always comes up when I'm talking about building recurring revenue businesses is "content". An inevitable concern from business owners is why would my customers pay for my content when they can get it for free on YouTube (or elsewhere on the internet)?
So I've put together 4 reasons why your customer will pay for your content.
1. Outcomes - When you create content for your members, it greatly serves them (and you) to do it with an intentional outcome for them in mind. When you craft content that is designed to help them achieve a particular goal, it significantly increases their likelihood for success in that thing. The bottom line here is that people desire outcomes, not content, and they will happily pay for your content if it helps them achieve those outcomes.
2. Clarity - There are almost 5 billion videos on Youtube, with over 300 hours of video uploaded every minute. The idea that your target customer has time to sift through all of that content and find the right solution to help them achieve their desired outcome is extremely low. By providing premium content that helps your members achieve their desired outcomes, you can reduce the clutter/confusion, clarify their path to success, and make it easier for them to achieve their goals. No endless searching or wasting time on content that doesn't actually get them closer to their outcome. They will thank you for the clarity and time savings you have provided to them.
3. Community - Your members desire community now more than ever. This is due in part to the support that comes with community but also because of the shared knowledge. Your content provides a common voice that your members can rally around in order to help each other accomplish their goals. Furthermore, your members are incentivized to support the ideas that you promote because of their desire to be part of a community.
4. Value - Studies show that people value what they pay for more than what they get for free. You can validate this with a simple experiment: the next time a friend asks you, "Can I get access to your content for free?", say yes! Then see what happens. How often do they actually engage with your content? I think you already know where this is going. The reality is that people will have a higher vested interest in your content and will be more likely to engage with it if they they’ve paid for it and therefore perceive that it’s more valuable.
Are you ready to start selling your own premium content?
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