3 Ways to Grow Your Business Using Jay Abraham’s 3 Pillars of Revenue
Who is Jay Abraham?
Jay Abraham. Jay Abraham is an American business executive, conference speaker, and author. … He is the founder and CEO of the Abraham Group, a marketing consulting firm focused on providing growth strategies to businesses.
He is known for his work in developing strategies for direct response marketing in the 1970s. In 2000, Forbes listed him as one of the top five executive coaches in the US. Wikipedia
So what are the 3 Pillars of Revenue?
1. Get more customers
2. Do repeat business with those same customers
3. Sell higher ticket products to those customers to increase revenue
According to Jay Abraham, there are only three ways to grow any business.
Most people, including me, think that increasing business is a complex giant burden of thousands of possible tactics that one can try but Jay Abraham takes the complex and makes it simple.
Focusing on only three business-building categories throughout our business lives doesn’t seem so bad right?
So what are the three ways to grow a business?
- Increase the number of customers, get more new prospects into paying customers
- referral system, acquiring clients at breakeven upfront and make a profit on the back end
- advertising on social media(facebook, twitter, youtube, Instagram, Linkedin, etc)
- direct mailing
- using telemarketing
- running special events
- develop a unique selling proposition
- increasing the value of your product through better client education
2. Increase the average transaction value, get each client to buy more at each purchase
- increasing sales skills level
- acquiring clients at breakeven upfront and make a profit on the back end
- advertising
3. Increase the frequency that the average client buys from you, get each customer to buy from you more often
- Developing a back end of products that you can go back to your clients with
- maintain a positive relationship with your clients
- endorsing other people’s products to your list
- running special events such as closed-door sales
A 10% increase in each of the 3 areas equals a 33% increase in revenue.
Giving the example of the Legendary Marketer, who modeled these 3 pillars of revenue from Jay Abraham. Using the 4 core business models: affiliate marketing, digital products, coaching and consulting and events and masterminds as the high leverage high ticket business models.
Dave Sharpe CEO of Legendary Marketer showed on the diagram below: (I'm sorry, it is not clear but just to show how the Legendary Marketer utilizes these 3 pillars or revenue)
Through the sales funnel we’ve got our traffic source over from Facebook, Instagram, Youtube, Linkedin, etc. Generate email marketing to offer low ticket upfront. Let’s just say that we’ve chosen to promote a product or we partnered with an affiliate company obviously one of the things is the ability to get paid on not only the low ticket stuff but on all the high ticket.
Affiliate marketing inside of my freelance business as the front end then comes to your digital product as for example coaching program for $997, events once a week $3000, then a mastermind for once a month for $5,000. I can actually profit from paid on every single sale for a lifetime.
This is what the value ladder looks like. I’ve got affiliate marketing that’s the first part of my value ladder, the second part of my value ladder is a digital product and then the third round of my value ladder as coaching or consulting next part of my value ladder events and masterminds.
Here, we utilize the 4 core business models and the 3 pillars of revenue. For instance, start from the upfront low ticket product which is $ 7 and a $ 30 subscription. I’ve got my own digital product here for $297 after coaching program on the live webinar with my client once a week training $1,000 a month or twice a year for $3000 for events and masterminds for 30 people.
(It’s not accurate calculation), you can have an income of $10,000 a month from the front end and $90,000 from the high ticket products. You can see the income streams that you generate from just one click from Facebook at one click happens on an Instagram post, one-click happened on the link inside of the description on a YouTube video and this journey begins.
Generally, affiliate marketing alone is easy living without ever creating any of your own products so the one thing about coaching and consulting is that it is using either you or another expert wisdom knowledge or experience.
Just thinking of all your marketing and business activities as falling in one of these three categories will help keep you focused and will quickly give you a boost in revenues and profits.
So, I hope this has empowered you to become a successful affiliate! Being an affiliate does require some work on your end, but the benefits can be extremely rewarding. If you want to know how to start building your online business from scratch or you want to scale your own online business you can click this link 15-day challenge where you go through training to begin.
Thank you for taking the time reading my post. If you find this article helpful, you are welcome to share it with your friends.
Stay connected.
April Lopez
If you purchase anything through a link in this article, you should assume that I have an affiliate relationship with the company providing the product or service that you purchase, and that I’ll be compensated in some small way at no extra cost to you.