Ever wondered if you could leverage your website to provide ongoing revenue for your business? There are several tools that you can start using today to simplify process in your business, reduce credit card fees, and automate your billing. Let’s start with a concept that has been around for a long time, the Reoccurring Revenue model.
What is a Reoccurring Revenue Model?
Reoccurring revenue is any revenue that you receive annually, monthly, weekly or daily where you provide a service for a fee. For example, your electric bill, rent, and cellphone bill are all based on reoccurring revenue models that those companies employ to create more capital in their businesses.
So, you may be asking: How does this help me? Funny you should ask. Today it’s easier than ever to develop a reoccurring revenue plan and implement it by using basic tools on the Internet. Examples include:
Many of these items can be some type of service-oriented revenue stream while others can involve some type of product. For example:
The list goes on and on. With just a few plug-ins, you can set up a website, create some videos with your iPhone, and be off to the races with some reoccurring revenue sources.
If you want to use the reoccurring revenue model to generate more income, here are some best practices to incorporate:
To learn more about how you can generate reoccurring revenue and develop a site that drives that income, contact Simons Studios today.