Sunday, 11 December 2011

Ten Ways To Make $10k Part 3

TAP into the Backend Automatically

As you’ve already discovered from the previous two paths to riches, the money isn’t in your products… it’s in your list.

And the easiest money you’ll ever make is by selling more products and more expensive products to your existing customers (i.e., sell on the "backend" of your business).

Smart marketers spend considerable amounts of time building their sales funnels (backend sales systems).

They know the hard part is getting the prospect into the funnel – but once the prospect starts buying, they’ll continue to buy provided you’re solving their problems and giving them a good buying experience.

And so savvy marketers are constantly coming up with new ideas, creating new products, and figuring out ways to convert their existing customers into repeat buyers.
Now imagine if you could sell a product to your customer once… and then do so automatically every month after that, with no additional persuasion on your part. Would that make it easier for you to run your business? And would you be able to make a whole lot more money? Yes and yes!

Fortunately, there already exists a way for you to tap into the backend income automatically and effortlessly.

Namely, by creating a monthly membership site.

Here’s the idea – instead of selling a new product to your customers every month, you set up a membership site with a monthly fee. Your customers are billed automatically. And all you have to do is update the site once a month. You can even outsource this task, meaning you’re earning a residual income almost on autopilot!

Just imagine setting up a membership site with a $20 monthly fee and getting just 500 customers. Each and every month your payment processor rebills these customers, and you earn another fast $10,000!

Here are just a few ideas for membership sites you could set up:

A site that offers a service, like web hosting. Or you could offer something like sales letter critiques or college essay critiques.

• A site that offers lessons on a topic. For example, you could have a six-month or twelve-month course on how to get an online business up and running. Or you could offer a course on something like how to do home repairs and maintenance.

• A site that offers a new product each month. Think of Time Life books here or the "Wine of the Month" club. Every month the customer receives a new product, and it doesn’t have to be a physical product. It could be a series of related ebooks – perhaps "how to" nonfiction books, or a "romance ebook of the month" club!

Those are just a few ideas. You’ve no doubt been apart of some of these sites, such as sites that deliver new software to its members every month, sites that offer large discounts on niche products, sites that offer private label rights (PLR) products to resell, and so on.

All you have to do to get started is:

Choose a hungry niche.
Find out what they’re already buying and what they want.

Set up a membership script and payment processor.

Set up a squeeze page and a sales page.

And then click here for the details on how to turn this simple idea into cash in the bank!

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