Similar to broker referrals, some signal channels cross sell other services. This can be anything the audience might be interested in purchasing, including trading education, bots, market research and strategies.
In our experience, selling these extra services requires a lot of messages and content space for promotion. When it is not the primary focus of the channel it can take away from its relevance and reduce ERR significantly. Most of the time, it’s better to create a new channel that solely focuses on promoting that particular service.
The key to making this model work is to promote services within context. For example, if your analysis has just picked up on a particular chart pattern and you use it to generate a signal, then instead of spending valuable message space explaining the pattern, you can link to a course that provides the details.
The pros of cross selling other services:
- Might increase total revenue from the channel.
- If you are offering your own courses or research services it can add credibility.
The cons of cross selling other services:
- Requires lots of channel space to sell something.
- Makes the channel less relevant and drops ERR.
- The revenue is likely not to be proportionate to the value you add a client.