(And “How” You Can Too!)
So ‘how’ many times (entrepreneur) have you heard and or read about this incredibly powerful, and or potentially profitable, long term marketing strategy, often referred to as the (so called) back end of your business and or service?
I’m guessing, probably a lot, correct? One of the primary reasons, is because, (unfortunately),a staggering amount, of semi cash strapped (and extremely ) resourced challenged small business owners, service providers, and or startup entrepreneurs, of all shapes and sizes.
Basically devote all, (and or) the vast majority of their readily available cash, credit, effort and other extremely valuable resources, into trying to create the lions share of their gross profits, on the initial sale -front end- sales funnel of their businesses. (Sound familiar?)
And while doing so, inadvertently, totally ignore the enormous, long term gross profit potential, in the severely neglected back end sales funnel component of their business.
Hopefully, after reading, studying and beginning to apply, some of ‘what’ you’re about to be exposed to in this particular post, this will no longer be the case for you.(Certainly time will tell.)
So Who Else Wants To Know How Some Extremely Savvy Small Business Owners And Or Service Providers Truly Unlock The Long Term Profits Vault? (And How You Can Too!)
Since you’re reading this particular post online, let’s start with one of the all too typical ways, some of your top, most highly respected, multiple six, seven and eight figure earners a year, consistently do just that.
And how after studying, and consistently implementing some of their basic, proven marketing methods, you and I can start to do the same as well.Sound good?
First off, let’s define, this often thrown about marketing concept, referred to as the ‘back end’ sales funnel of your business and or service etc.
You can (and should) consider, the official start of the back end of your businesses/services sales funnel, once -or after- your customer, patient and or client, makes their very first purchase.
No matter, ‘how’ big and or small it is. And it doesn’t whether, you initially broke (dead dog) even on their very first purchase.Or you made a slight to major gross -front end- profit.
Or if (like) some of the major big box retailers, you actually, deliberately lose money, generating your very first customer. Every purchase they make going forward, every referral and or testimonial -of any kind-, they provide for you, is now officially considered part of your long term, income generating back end sales funnel.
Here’s Why Developing Your Long Term Entrepreneurial Skills Is So Potentially Profitable!
This next all too common, seemingly advanced, ‘back end’ marketing example, will give you an extremely small glimpse, into how the multiple six, seven and eight figure a year, respected marketing experts, gurus and or guruettes, consistently earn and make, the big bucks.
Clearly, newbies will not necessarily be able to pull these sort of fairly sophisticated marketing strategies off, right out of the gate. But please bare in mind, neither could the gurus, (way back) when they first started out.
But gradually over time, as they continually developed their various levels, of lead generation and or entrepreneurial skills etc.
They started to see, more and more practical ways, to apply the proven marketing basics, like building and profiting, from the (previously) neglected ‘back end’ sales funnel of their business and or service etc.(And power list building opportunities 101.)
Truth told, the long term lions share, of the gross profit potential, lies in the repeat customer,patient and or clients sales. Because by and large, you’ve already paid the enormous initial upfront cost to acquire them as a first time customer/client etc.
Now, virtually every sale you generate going forward, is primarily gross profit, not expense.
Being An Entrepreneur Means Seeing The Big Picture!
So follow the bouncing ball here. Let’s say you and I, are on the list of a major online player. Meaning,this man or woman, currently earns multiple six, seven or eight figures a year.
And they constantly create various forms of gross profits, from all of their multiple streams of income producing activities.
Case in point, because you and I, are on one or several of their opt in email lists, and because they are (both) affiliates, joint venture (JV) and or cross promotional partners, with other big name marketers, who basically earn the same amount of income as they do.
They email us, an extremely time sensitive -affiliate offer- they’re currently promoting. Sound familiar? And let’s say the digital information product retails for $997 dollars or X. (The actual numbers are secondary to you grasping, ‘how’ you can actually apply, the overall marketing concepts being presented here.)
So in order to sweeten the ‘pot’, they throw in, (one or two) potential-digital- bonus info products, and or some service they personally provide valued at X.
Either, they throw in X amount of free one on one consulting time, valued at X.Or they throw in their very own digital info product (or products), which currently retails for $497 dollars!(Now watch what typically happens next!)
Extremely Savvy Entrepreneurs Love To Maximize The Long Term Profit Potential From Developing The Back End Of Their Businesses!
Typically, by offering some type of unique, (you can’t get these) anywhere else, at these specific prices, types of, extremely time sensitive bonuses! They help compel more sales.
Now watch ‘how’ they strategically and masterfully, (go on) to create, a potentially profitable back end to their affiliate sales funnel.
Every one of their subscribers, who purchases the $997 info product, they’re currently promoting, (as either) an affiliate and or JV partner etc.
Since they automatically get their $497 dollar digital info product, as a ‘quick decision’ bonus. Guess what? Those purchasers, automatically become eligible, to become registered affiliates for free, in order to promote the $497 dollar product, and generate, a commission, on a sliding scale of 50-80% per sale!
Are You Finally Starting To See And Appreciate Why Your Small Business And Or Service Has Big Bank Account Filling Possibilities?
Which means, going forward, they only pay their affiliates, (you and I), anywhere from 50-80% commissions, whenever sales are actually made!Hopefully the light bulb -of long term marketing possibilities- just went off
in a major way!
My friend, that’s how some of today’s savviest small business owners, service providers, and or startup entrepreneurs, consistently cash in, (big time!) from the previously neglected, back end component of their businesses! And who you and I can too! Any questions?
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series,
because it will help you increase your profits by as much as 25% in the next 90 days or less.
- How Savvy Entrepreneurs Literally Create Money Making Opportunities!
- Who Says Small Business Service Providers Can’t Benefit From The Information Business? Part Four
- Who Says Small Business Service Providers Can’t Benefit From The Information Business? Part Five
- Who Says Small Business Service Providers Can’t Benefit From The Information Business? Part Six