Residual income
Repeat Fees...
Residual income is where you get paid, month after month for a single sign up. The hard work is in getting your prospects to join up to a membership site or an ongoing coaching programme paying a monthly fee, or even a web-host where the payments are taken monthly, quarterly or yearly. Every time your prospect pays you get paid too. This seems like such a good idea for an Internet marketeer (you keep on getting paid for a single sign up) that it's a wonder anyone promotes any other kind of programme.
There are any number of affiliate programs out there encouraging you to promote memberships. Google, “residual affiliate programs,” and take your pick.
Start your own...
But how difficult would it be to start your own residual income programme. What can you offer a customer that will make him or her pay you month after month and year after year. What kind of added value would you have to provide? Of course the answer to these questions will be different depending on what niche your Internet business is in. A good starting place is your subscriber list. If you are a good list host, you already treat your valued subscribers to free information, news alerts, useful downloads and regular updates, as well as recommending your products for your affiliate promotions. If they are still on your list and have not un-subscribed then they presumably appreciate what you provide to them.
Now think about what you might have to give your list if you were to charge them a fee to be on it. What kind of value could you add to what you already provide that would make your subscribers willing to pay. There is a simple way to find out. Ask them!
Ask!
Yes, really. Start by sending out a general broadcast e-mail message requesting their help and asking two or three definite questions. With most auto responders, you can place reply field in the message itself or you could direct them to a webpage with a feedback box. Only a small percentage will reply, but if you follow up personally with those subscribers who are prepared to tell you what they need, you will very soon find out what your list would be prepared to pay for. If you can provide it you can create a separate VIP subscriber list, and you have the beginnings of your residual income, members only, paying subscriber list.
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