10 X Your Profits On Every Product… Or I’ll Eat My Hat!
Okay, that might seem a bit hyped up, but listen…
You can apply sales to your back-end for every product you release. I encourage it. Sure, it’s more work than usual… you’ll have to create two products at a time, but dwell on the advantages.
A massive increase in profits.
Think of it like this…
You’re NOT trying to sell to your customers – you’re trying to court them. Similar to when you first met your other half. It was either love at first sight… or it took a while to build an element of trust. You’ve probably been burnt before and don’t want the same bad experience… Do you?
Of course, you don’t.
The BIG boys (C.I.A) are trained in similar techniques when agents are asked to form relationships with their proposed targets… they also do it in stages.
- First, they’ll purposely move into spaces their target frequents ( knowing they’ll be spotted at some point)
- Second, when the time is right, and their target has spotted them a few times. They might bump into them “accidentally.”
- Third, when familiarity is certain, they’ll make an introduction in some way…
Point is… it’s a slow process and has to be built up in layers “gradually.”
As you know… everything in life’s a process or journey. And it’s no different when you’re back ending or persuading your customer that you’re the “go to” person in your industry.
So, Don’t Miss Out On The Stages…
You can make either $20,000 or $200,000, the difference being – the first profit point has NO back-end strategy. So, tell me… which one would you prefer?
But quickly moving on… You now know the importance of building a solid relationship with your customer. So, let’s crack on with the stages and roles of products – as it’s essential you know how to set them up.
Each of your products has a role to play. And depending on this role, they’re presented differently and priced differently. For example…
If you want to build a large list of new customers, you can develop a relationship with… to sell them your premiums – and obviously, you’re NOT going to sell them a $1000 product straight away…
Why?
Because they don’t trust you enough to part with that level of “commitment.” And even if you get a handful of your high-end products sold because of a “GREAT” sales letter. This amount will be minuscule for your backend. (and you know how vital your backend is, right?)
So here are the roles for each product type, what they can be used for, and their stages…
Product Type 1 – The Freebie.
Everyone loves a freebie, no matter what market you’re catering to.
The bottom line… giving out free stuff is all about generating leads. It’s high volume and relatively easy to nudge people into giving you their details compared to handing over money.
It takes little previous knowledge or trust and will form your customer base way into the future.
There’s not much to go over about price for obvious reasons, but I think it’s important to point out that just because you’re giving away for FREE… it can’t under any circumstances be sub-standard. Don’t give away the world, although it has to be your best work.
First impressions are critically important, and your freebie seekers will mostly judge you compared to your FREEBIE quality! This will be your first stage of gaining trust – so make it count.
Product Type 2 – The Cheap…
In this stage, things get interesting… you’re turning the freebie seekers into first-time buyers from product type one. This shouldn’t be too hard to achieve because, as the title suggests, your products are cheap, and the risk to your customers is minimal. If you’ve built trust, and the relationship has moved forward since their sign-up, there shouldn’t be any trouble selling these products.
We’re talking from $10 to $97, and while this may not seem much… it’s not a problem. Because as we’ve mentioned, the main goal is to develop trust over some time. You’re proving what you promise… you deliver, and you do it every time.
It would also be wise to place high commissions on your products if your price range is at the top of the scale or you’re running a reoccurring fee membership site.
And I mean… 80 – 100% ridiculous!
Once that’s sorted, prepare your lead generation systems, entry pages, and subscription boxes, and then let it go.
Product Type 3 – The Medium…
Okay, now we’re getting to the good stuff. The great thing about this is that it’s your chance to do two of the previously mentioned roles more effectively. The first is where you’re building resources, joint ventures, and affiliates with very high percentage commissions. I see medium products as anything between $100 and $200.
And if you’re successful with number one, number two will come naturally. Build your list of buying customers, generate leads, and build your list quickly due to the potential traffic from your high affiliate commissions.
At this point, you can see the “doers” from your standard list and your customer list from those who bought small items from you. Keeping up the quality, there’s no reason they won’t follow you through the next two stages, which is where the BIG guns hang out!
Product Type 4 – The Premium…
With premium products priced anywhere between $200 to $1500, it’s all about using the resources you gathered to make a profit. You should now have a solid list of prospects built from your freebie list and your second bout of cheap to mid-level products.
In addition, you want to have many contacts, joint venture partners, and affiliates, boosting your promotion power massively. Bear in mind, though… your sole intention here is to make a profit, and for that reason… aside from a few heavy-hitting joint ventures, your commissions should stay at the standard 50% or so. And you’ll get away with that now because the higher price makes your product more worthwhile when promoting it to affiliates.
This stage isn’t lead generation… it’s about making money.
Product 5 – The Ultimate…
Okay, we’re almost done. There’s only one more step to go, and it’s the cream of the crop, the ultimate product. I’m talking $1500 to $10,000 and sometimes more. Usually, these consist of seminars, one-on-one consultations, and so on. Of course, it might differ entirely if you’re not selling training goods… either way, your product has to work, has to set new standards, and has to get people talking. So, if it isn’t the best of the best… don’t bother!
It’s at this point you want to eliminate affiliate commissions. All profit is YOURS! and why not?… You have a list of customers, long-term customers, joint venture contacts, affiliates, and four previous products, each back-ending on to the next line.
So, there you have it. My chosen method for back-ending, one after the other, product after product, all related to each other, from free to over $10,000 a pop!
And what’s more, it works, and it works amazingly well. But get this…
Only over a period of time.
Don’t try and rush the process because if you do… well, see for yourself, and don’t say I didn’t warn you.
If you want “get rich quick,” this isn’t the message you should be reading. And I’m not the person to teach you that philosophy because, in my experience, that marketing segment is full of charlatans.
That doesn’t mean it has to take years, though. How long does it take to build five related products and create a website for each?
Not long, I’d expect (especially as there are product creation tips on my site that detail all the methods I’ve used to come up with 14 in a single day)
So, there we have it…
Two tips in one, but that was necessary. The first is to define the roles of your products and stick to them. The second is don’t miss out on stages of customer relationship development. You can’t go from a $20 product to a $5000 product effectively.
It’s all about TRUST!
