For example, let's say you choose to cater to a niche of fellow Internet marketers. You start off creating or offering an information product on Finding Your Niche. What you want to do next is develop a backend product that accompanies or complements the first product.
This way, when your second information product is ready, you can announce it to your list of existing customers and if they found value in your first product, chances are they'll be buying from you again.
So you could offer a software product that helps them find an untapped niche market. Then your backend offer could be a system they can follow to, build a squeeze page, website, build their list, get traffic to their page and so on.
Have you ever heard the saying, 'There's gold in the list' This is often said in reference to the many marketers who have built multi-million dollar empires selling their information products to the same people, not necessarily more customers.
You want to extend the lifetime value of each customer that you get. Even if it only costs you a $0.05 click-through to get a paying customer, it's much better to make a $10,000 lifetime profit from him than a one-time sale of $47.
You want to create a good backend strategy for your information products based on what it is your customers need. Find ways of picking their brains without letting them know it's solely for product creation purposes.
People love to give their opinions, so when you contact your list and ask for their input, you stand to gain some amazing insight into what it is that your market is seeking.
You can offer for them to complete a survey, and all that fill them out are entered into a draw. You can draw for some free software, e-course, free advertising or something that is within the niche market you cater to. Whatever you decide, make it something of great value for them.
While your follow up information products are being created, either by yourself or an outsourced service provider, make sure you continue delivering free valuable information to your existing customers. Everyone loves getting something for nothing, especially if they can use the info right away, to increase their profits or their list.
You don't always want to hit them up with a sales pitch. If their names are added to your autoresponder, then periodically drip pieces of helpful information to them that they don't have to pay to gain access to.
When someone on you list makes a purchase from you, they should be removed from that list and put on your 'A' list. Your 'A' list will be your most responsive, and therefore it should be treated as GOLD. You need to feed this list the best of the best, and you will profit for many years.
**Please note: the 'A' list doesn't have to massive, it can be as small as 500-1000 subscribers to be profitable,and because they have seen value and purchased a previous product from you, chances are they will continue to purchase in the future.**
When they see that you're working in their best interest, then they won't mind spending money with you again and helping you profit from your information product empire for years to come. All you have to do is find out what they need and then over-deliver with your solutions.
Author Resource:-
Ron Richardson is an online entrepreneur and consultant. Find 100's of High Profit Niche Markets in Minutes and Grab your Free copy of 'Blogging For Cash Course' Make Money with your Blog Fast. Get" target="_blank">http://great-niche-finder.com">Get my eBook
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