Internet Marketing Tip - Create Recurring Income Streams and Not One Time Sales Streams
Look around and you will see that one of the most popular internet marketing models being taught is the create a product and sell it.
In its simplest form, this business model says find a niche, find a problem in that niche, create a solution for that problem and sell that solution.
While this is a good way to make decent money online, it has one big drawback.
What's the drawback, you ask?It's the fact that you only get paid once for your effort.
You took the effort to do market research and product creation.
Next you went through a cycle of finding a prospect and persuading the prospect and getting them to open their wallets.
Kudos to you.
It takes a lot of time and effort to do that.
But here is the thing - they only paid you once.
Just once!If you want to make more money from this product you have to repeat the prospect finding cycle and the converting prospect to customer cycle.
You create a list you say?That's great.
But you still have to convince them each time you want them to buy from you.
So your list building cycle now goes as follows:
Now what if you added a simple twist to this model.
You work once and persuade the prospect to spend money with you month after month.
How do you do that?By creating a product where they have to pay you every month to get more information.
Yes, you got it - by creating a membership program.
Your membership program cycle goes like this:
What this means is that you do the marketing work once and you have money coming in for many months in the future.
You spend time and effort on one prospect only once and you have them opening their wallets for many months.
Doesn't this sound way better than having to persuade your prospect every time you create a new product?So go out there and create your very own membership program.
In its simplest form, this business model says find a niche, find a problem in that niche, create a solution for that problem and sell that solution.
While this is a good way to make decent money online, it has one big drawback.
What's the drawback, you ask?It's the fact that you only get paid once for your effort.
You took the effort to do market research and product creation.
Next you went through a cycle of finding a prospect and persuading the prospect and getting them to open their wallets.
Kudos to you.
It takes a lot of time and effort to do that.
But here is the thing - they only paid you once.
Just once!If you want to make more money from this product you have to repeat the prospect finding cycle and the converting prospect to customer cycle.
You create a list you say?That's great.
But you still have to convince them each time you want them to buy from you.
So your list building cycle now goes as follows:
- Find prospect
- Persuade prospect to become a subscriber to your list
- Persuade subscriber to buy your product
- Maintain high quality relationship with subscriber
- Keep persuading subscriber to buy your future products
Now what if you added a simple twist to this model.
You work once and persuade the prospect to spend money with you month after month.
How do you do that?By creating a product where they have to pay you every month to get more information.
Yes, you got it - by creating a membership program.
Your membership program cycle goes like this:
- Find prospect
- Persuade prospect to become subscriber to your list (optional)
- Persuade prospect to join your membership program
What this means is that you do the marketing work once and you have money coming in for many months in the future.
You spend time and effort on one prospect only once and you have them opening their wallets for many months.
Doesn't this sound way better than having to persuade your prospect every time you create a new product?So go out there and create your very own membership program.
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