Are your lead magnets really working?
As you learned (via) the overall concept in a previous post, about using powerful free lead magnets, you can build a serious income and add a ton of low cost gross profit to your business by utilizing a little known and rarely used marketing concept that is often referred to as Back ending.
(FYI: Which simply refers to all the additional sales and income you derive from your customers, after your initial sale.)
As you recall, whenever you sell your initial product or service to your first time customer; typically at a substantial (create a new first time customer) discounted price.
Use Powerful Free Or Discounted Price Lead Magnets To Create That All Important First Sale!
In order to get your sales process rolling, that first sale is often referred to as your low cost initial front end sale. If you actually lose money on the first sale – which in the case of a digitally produced product-you would not necessarily need to do because its virtual.
But if your business, product or service is marketed primarily offline and you routinely lose money on that first sale -like Walmart and some other really deep pocketed corporate retailers do, in order to net a ton of additional -back end- sales from those repeat customers, for years and years to come.
Then every sale after your initial (lead loss) sale is now considered part of your ongoing long term Back end marketing funnel.
And when done correctly, your back end sales process can literally explode your long term profits, practically overnight for peanuts! That’s why strategically using powerful free or deeply discounted lead magnets is so effective.
(It’s how 97% of the successful late night cable TV info marketers make most of their money.)
Because you can strategically position your business so that you can literally out promote your big buck major competitors and increase your overall market share and increase your bottom line profits while simultaneously slashing your upfront marketing/advertising costs by as much as 50% or more! Oh yea!
So without further ado; let’s get to it.
Why Strategically Using Powerful Free Lead Magnets Multiply Your Profits So Fast!
The following two examples are for illustrations purposes only.
This first example (which is actually) based on a powerful real world case study; will aptly demonstrate how to strategically position your business product or service for maximum long term profits, without breaking the bank.
The two major players are a savvy veteran ( and extremely successful) online information marketer and an expert marriage counselor consultant, who had previously attempted to publish a offline hard cover book on building, and successfully repairing and preserving personal relationships.(An incredibly huge ever green market by the way.)
Because the expert relationship repair counselor was not an expert marketer,his attempt at getting a book published and successfully marketed through traditional means, fizzled at best!
The net result was a lot of time and money wasted on non productive publishing activities.
Enter: the savvy experienced online marketer, who successfully negotiated a long term strategic alliance between the two also referred to as a (JV) Joint Venture.
The JV basically takes advantage of both participants main strengths; the successful online marketer will now focus on aggressively marketing/promoting the book, primarily online in digital form only.
(Note: Which also means that another offline savvy marketer, could re-release the text and use their proven distribution channels to make it a success this time around.)
And for his efforts he would now receive 100% of the upfront profits – minus all of his marketing/advertising costs of course.
And the expert relationship repair specialist will now receive 100% of the back end hourly consultation profits generated by offering a series of personally customized one on one relationship counseling sessions at a mere $250.00 dollars per hour for everyone that purchases the ebook.
Sold in increments of three hour sessions or a gross profit of $750.00 dollars per every three sessions.($250 PH x 3 hours minimum = $750 in gross profits.)
The purchasers are now directed to a special lead capture page in order to receive a powerful free special report on how to restore,repair and preserve your relationship before its too late.
Insight: Can you see how this particular JV (Joint Venture arrangement) allows both participants to capitalize on their individual strengths?
Strategy: Look for the opportunities in your current business, product or service, where you can do one of two things.
A.) Allow other entrepreneurs on or offline to sell your front end product or service ( perhaps a low cost ebook , CD or DVD) and receive a lion shares of the front end profits (if not) 100% and you pocket the lions share (if not) 100% of the back end profits from now on!
B.) Especially if your business product or service has the potential of ongoing monthly income, like a paid monthly or quarterly membership site of some kind, you could allow both your on and offline JV partners (commissioned only sales affiliates) meaning they only receive some form of compensation when an actual sale is completed.
You could allow them to sell a special 30-60 day trial membership to their customers at a special (market tested) discounted price and keep 100% of the front end profits and you net 100% of the remaining membership dues, after you test in order to discover how long your typical customer remains a paying member.
Insight: Before you dive head long into the final example of this powerful mega proven low cost marketing gem, make sure that you see this (super easy) and brain dead additional potential profit opportunity that’s staring you in the face, that a staggering 98% of your wannabe competitors will never see; let alone be able to capitalize on.
If you have (or are) currently in the process of creating some type of high quality low cost front end information product such as an ebook, CD, DVD, audio or Video product and no matter how you plan to market it, on or offline.
Why Aren’t You Using Powerful Free Lead Magnets To Create at Least 25% More Profits Now?
Your Must Complete Homework Assignment: Seriously consider allowing select well positioned JV partners to sell your information product and keep 100% of the front end profits and you can make some serious long term back end passive income in one of two ways.
A.) As long you have additional products or services that you can offer your newly acquired customer(s), you can cash in big time from all of the additional long term back end profits for peanuts!
B.) Be sure that you include your best market tested affiliate links inside your digital info products, because a certain percentage of those readers of your info product (whether) they purchased it or not, will purchase some of those products or services and your bank account will go kaching!
In fact you might seriously consider creating a powerful free low cost high quality info product for the sole purpose of allowing all your JV partners and their customer base to to keep 100% of the front end profits and you just soak up 100% of the passive back end profits!
(That’s how you use powerful free lead magnets to create at least 25% more profits now.)
Hint: That’s why you are highly encouraged to download, read and prosper from the powerful free Nine page special report and discover the little known powerful secrets about successfully using back end marketing.
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