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