Reoccuring Revenue Streams from Technology September 25, 2008
Posted by mycto in Business Productivity.Tags: business, revenue streams
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Without exception, the single greatest question that I am asked by clients and interested parties is this: “How can I use technology to create reoccurring revenue streams”. This question shows how technology has been increasingly accepted as a way to make money, but there is still much mystery around how to do this.
This question is also usually posed by companies and owners who know that there is a way to take their service / product / whatever “online”, but they also know that just because something is online does not mean that the product or service will immediately begin to leap off shelves and into customers’ hands.
Some points / observations to consider in creating reoccuring revenue streams using technology:
- If you sell a physical product–how will you facilitate shipping, returns, etc. when your interface with your clients is online?
- If you have a service, what advantages will the online system need to have in order to make the customer feel comfortable dealing with the digitial you.
For example, if you were an accountant and you currently have 50 clients that meet you in your office–what could you possibly offer them online that they would pay for? A few quick ideas: paid for access to premium wealth creation tips or give your clients the ability to interact with their accounting (prepared by you) online, which gives them greater time flexibility.
Thoughts?
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