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Expanding Your Sales Funnel
Once you start to get some results and see some success and you are making a bit of money you can then as I said create a product around it and use a section of your product to give away to build your email list.
Once you have a product created which is unique to you you can now build a list of subscribers and customers that know your story and they will get to know you, like you and trust you.
At this stage when you able to make sales of your own product congratulations because you are now in the top 5% of online marketers that bother to actually create and sell their own product.
When someone joins your email list you now have the ability to make money from every subscriber because you can sell your product as your front end product which appears on the next pag after they opt in. You do need to use single opt in too and not everyone will buy but some will.
Having just one product to sell is certainly a great start but there are lots of additional things that you can do to increase your profits.
You can start to increase the size of your sales funnel so instead of just having a front end product that you sell for say $9 you can have an additional product that you sell for $17 and maybe another you sell for $97. All these additional products need to be relevant to your main product.
So now when you build your list you have the ability to make $9 + $27 + $97 per subscriber and believe me some people will buy all of them.
So what happens is when someone buys your product you then send them to your next product which is more expensive. You can keep doing this for as many products as you have. I have always felt like 4 - 5 products in your funnel is more than enough but it's your choice do what you feel comfortable doing.
How about if you add another product into your funnel that you sell for $297?
Yes you can do it and yes some people will come through and purchase all of your products so now you can make $9 + $27 + $97 + $297 per subscriber.
Now we are rolling.
I have actually had some subscribers come through my sales funnel and purchase every single product which has made me around $1000. Not bad considering there is nothing I need to do as all of the products get delivered on auto-pilot.
You see now, by having this sales funnel with products based around information that you have personally put together which is unique to you, you have now separated yourself from 99.9% of other people out there.
This is by far the most effective and most powerful way to begin building authority in your niche and start seeing results and making money and to get to $100 per day online.
Set up an Affiliate Program
Now that you have some products you can add your main front end product to some affiliate market places like clickbank, jv zoo and warrior plus and digi results etc.
Putting your product on these affiliate platforms gives you the opportunity of picking up lots of affiliates which can then send you lots of traffic and sales with no extra work on your part. All of a sudden you are generating sales yourself from your own sales pages when you build your list and also from affiliates that send you traffic.
One thing I will say is you will need to increase the price of your product if you plan on putting it on affiliate platforms so that it's worthwhile for affiliates to promote it. I would recommend you price your product at around $17 - $47 to start with and give 75% commission to your affiliates.
Setting up an affiliate program is a complete no-brainer so make sure you do it because it's all extra traffic and sales.
Passive Income
Building a passive income is something that just about every Internet marketer online wants to build but only few ever actually do it.
A passive income is basically money that you can make online while you are out doing fun stuff but the money continues to get paid to you.
There are two different types of passive income that you can create and set up.
Selling your own products - This is another reason why selling your own products is so effective and powerful because you have the ability to market, sell and deliver your content on complte autopilot. This is the power behind selling information products online.
Once you have a squeeze page set up and you sell products on your thank you page and within your email follow ups then you have the ability to make money passively. You do of course need traffic going to your pages in the first place which is something you need to work on over time but the fact is you can easily create a passive income when selling your own products.
There are lots of other income methods out there where you can create a passive income but it's not really passive because you have absolutely no control over the product being sold so if the product was to stop being sold then you would lose your passive income stream overnight.
This is why it's vital that only focus most of your efforts selling and marketing your own products and not working heavily on income methods once you have your own product.
Some type of recurring membership - This is the other way of building a passive income online but this is a lot more powerful, profitable but it is a lot harder to build.
If you have some type of membership site then you can make money every single month on complete auto-pilot from your paying members.
Membership sites work great but these are only things that you should really create after you have your own products out there and you have built a bit of authority within your niche. I have my own membership site that I have built from the ground up and it's one of my favorite and most profitable parts of my business.
This is why selling your own products and building a list is so important because you can then leverage those assets to help build other things like membership sites.
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