Pyramid Profit Power

Listen, “pyramid schemes” aren’t legal.

But creating your own Product Profit Pyramid is…and it’s essential  to the long term health of your online business.

(By “scheme”, I mean this definition: A large-scale systematic plan or  arrangement for attaining some particular object or putting a particular  idea into effect.”)

After all, you’ve probably worked yourself to the point of madness  with your product launches. In three days time you might not have showered, but everything else gone right and you’ve added 100, 1000,  or even 10,000 customers to your list. Congratulations!

But…you probably aren’t that far ahead in terms of money made. Yet.

Now comes the power of your profit pyramid to build your business on the back-end. It involves adding more value to your customers lives,  and it means doing it quick when folks are ready to buy from you.

creating your own Product Profit Pyramid is
Don’t wait. Don’t hesitate. Get busy and make them offers using this  list of big ideas.

#1 – Create more of your own products/services to deliver to your customers.

This is the most important thing you can possibly do in order to increase  your NET profits – that is, the money you actually get to keep.

#2 – Make complimentary offers of affiliate and joint venture products.

Do this as soon as you’ve run out of your own products to offer them.

This is a great way to make money, but you do run the risk of spreading  around your customers. It’s a bit of a double-edged moneymaking sword.

That’s why when all else fails, stick to rule #1 as much as you can.

#3 – Incentivize folks to join your recurring revenue program.

It’s not easy to get permission to put people into membership programs, but  if you can create an incredible offer based on the foundation of a Big Idea,  you’ll increase the stability of your business knowing that you have guaranteed  money coming in every month.

Over deliver and add value to the world to keep your members happy.

 #4 – Create a higher-level of Elite/VIP membership.

There will always be a significant portion of people at the top of your  profit pyramid that are happy to give you more money for more value.

Don’t be afraid to ask for more money once you have more value to deliver. This will fund your front-end sales efforts so that you can grow  the base of your pyramid, and thus, increase the peak of your profit  pyramid generation efforts.

Seminars, big video packages, coaching, masterminds, and consulting  are all great ways to service your clients with ultra-high value offers.

Find out what they want and give them everything they need.

#5 – Survey your readers.

Find out what they want. Find out what problems they have. Then return  to Rule #1 and deliver more value. Repeat this process once or twice a  year and build your product catalog.

#6 – Build the relationship.

It goes without saying that this is a priority at all times. From the welcome  message they receive immediately, to the Facebook presence you create,  the customer service you provide and even to the personality you inject  into your dedicated offers.

And take Mikey Whitfield’s advice and make sure that you are treating  your readers like your best friend.

#7 – Sell them more products more often.

You should have a product theme for each week. You should have such a  catalog of products that you can sell and cross-sell them more value on any given day of the week. Don’t rely on promoting affiliate partners because of that double-edged sword.

You know how hard it is to get customers, now treat them right.

They bought from you. They are invested in you.

So deliver more YOU to them.

That’s the best place to start.

And even when you promote affiliates, make sure you are delivering  a little bit of YOU to them (in a bonus only available through you).

Keep your customers in your life.

Treat them like your best friend.

Deliver the products you’d want if you were in their position.

Show them the way, and they’ll reward you for life.

Be good,

Craig Ballantyne

PS – Bedros Keuilian let me share this video with you  – http://www.earlytorise.com/fbs/

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    Hey Craig,

    I have two questions.

    First, I’m curious how you segment your lists, and how you populate those lists with autoresponder content.

    Currently, I’m building two lists:

    The first list is general (think fat loss).

    This list is built on my blog. They enter their email to download my “fat loss” report. I populate my autoresponder with high quality content that is related to fat loss. I also sprinkle in some affiliate recommendations (diets, cardio programs, fat loss specific workout programs, etc).

    The second list is specific to my product (think fat loss for new moms).
    – This list is built with a dedicated squeeze page/people who hit the sales letter and don’t buy. I have an autoresponder series, which is populated with content congruent only to fat loss for moms (how to find time to workout, how to use their babies as workout equipment, best exercises to reduce tummy fat, etc) and the only product I would pitch in this autoresponder series is my product.

    Does this sound about right?

    My second question is about asking for the sale. When do you do it?

    Someone once told me that an effective autoresponder should solve your prospects 5-6 biggest problems/frustrations.

    What do you think about that? Should I populate my autoresponder with the best 5-6 emails I can in order to build trust before ever asking for a sale, or is it okay to send them to a sales page immediately after opting in?