A vital step of the Cash on Demand system – and you’ll already know this if you’ve got past module three in the Cash on Demand Modules – is to build a database.
Andrew Reynolds shows you a model involving a funnel inside the Cash on Demand course. Your aim is to put people at the top of that funnel, to build a database of customers.
The stumbling block for many new students of the Cash on Demand Modules is that they see Andrew Reynolds is a multi-millionaire from the business he teaches in the Cash on Demand Modules and forget that just as everybody else has to…he began his business with NO customers at all. He was in exactly the same position around ten years ago, as you are today. Let’s face it, if he can make over £30Million starting from scratch there’s no reason why you can’t do the same. He learned the business from a rich mentor and you are doing exactly the same.
Whereas Andrew Reynolds was once the student, he is now the Multi-Millionaire mentor for others keen to strike out for the freedom that this business can give you.
The first step is to get started…
Okay, so it’s Monday morning and you are starting your very own Cash on Demand business and to do that you need to create a database of customers. How?
These are the methods to do this, all shown in Andrew Reynolds Cash on Demand Modules. They are: Free Publicity; Small Ads; Small Classified Ads both online and offline and Direct Response Marketing.
A two hour DVD is supplied with the Cash on Demand Modules, which shows in-depth how to use classified ads. Of course, there isn’t the space in an article to cover that much material. So, you’ll have those sections in the Cash on Demand modules (if you’re not a subscriber – click here).
In Cash on Demand modules four and five you’ll be taught in detail how to use classified ads.
For now, let’s get down to the fundamentals of the business…the mechanics if you like.
The mechanics are that you first find a hungry market. But this is important…your hungry market must be made up of individuals who have a relatively high disposable income. To repeat that…
You need to find: A Hungry Market of Individuals with a Relatively High Disposable Income.
Now you’ve seen that you may be thinking what a stupid thing to say, it’s obvious isn’t it? Why would anybody want to try and sell a product or service to people who haven’t got the money?
Here’s the truth…
Andrew Reynolds gets so many offers of joint ventures where he has to ask, “Who’s this going to sell to? Oh it’s going to sell to people with no money”. That’s a bloody good product isn’t it?
Andrew Reynolds wants people with relatively high disposable income. And so do you.
If he goes out to them and asks them for £5,000, he doesn’t want them having to re-mortgage the house to pay for it. And neither do you.
As Andrew Reynolds explains to all of his students, try to sell to individuals with credit cards that you know won’t be embarrassed if they have to spend a wee bit of money. Why do that? Well it’s just easier to be frank. Why would you want to take time trying to sell to people with no money?
To re-cap that’s two important fundamentals for building a database of customers…FIRST: You need a market of hungry buyers and SECOND: These hungry buyers MUST have disposable income.
Let’s continue looking at building a large database shown in the Cash on Demand Modules…
How do you get your first set of customers? Andrew Reynolds teaches the funnel model, in the Cash on Demand Modules, which is a powerful system for building your customer database. But you attract your very first set of customers by offering them a low cost product. This is smart or if you like savvy marketing.
Consider this point…the people you contact for the very first time, don’t know you at all. For all they know you could be a con merchant, I know you’re not and you know you’re not. But consider this, and this is the important issue here…the people you contact with the information about your product they are the ones who need to be convinced of your honesty and fairness. They are not going to hand over their hard earned cash to you or anybody unless they are convinced that you are genuine.
You need credibility!
Here’s the method you use to give you credibility… you OFFER A 30 DAY MONEY BACK GUARANTEE.
That turns the dice in your favour. Your offer is now on the lines of…you’ve got the greatest thing since sliced bread. It’s only £50…..have a look at it and if you don’t like it send it back and I’ll give you all your money back.
Immediately you’re installing confidence in your potential customers. A guy’s thinking, “Well if he’s on the level I’m going to get my money back anyway. I’ll take a look but I’ll obviously get my money back. And if he’s not on the level I’m only £50 out.” It’s a reasonable sort of bet.
Andrew Reynolds gives all of his students of the Cash on Demand Modules this sound advice…if somebody sends stuff back return their money, for goodness sake. Don’t mess about with refunds, it really isn’t worth it. If you know that the guy’s had it longer than the 30 days and he sends it back on the 32nd day still give him his money back.
What you want is people into your funnel, your first set of customers and then you offer a back end product. A back end product has a high margin.
The profit is not in the front end product. The object of a front end product is simply to get customers, to get them onto your database. Then you offer a back end high margin product and now you are talking PROFIT.
So what do we consider a high margin product? Well, Andrew Reynolds explains in the Cash on Demand Modules that it is a product that costs you £50 and you’re selling it for maybe £697 plus VAT. That figure has been tested. It works.
When Andrew Reynolds speaks at one of his boot camps, he often talks about the great marketer Ted Nicholas. And Andrew explains that Ted taught him a lesson. He told Andrew about testing. They put out a product at £697 and they paid the VAT, the 17.5% coming in from the customers. Then they did a test by sending the product out for £697 + VAT. It didn’t affect the number of sales at all, but of course it meant Andrew Reynolds and Ted Nicholas made more on the bottom line. So, it’s worth testing such things.
As an extra piece of information here, Andrew Reynolds advises you don’t ever mention the VAT on front end products because it confuses customers. If you say, “I’ve got this product or service (whatever it is) for £50 plus VAT plus postage and packing” it gets confusing.
The offer on the front end is going to be, for example £67 plus £2.95 postage and packing.
So, that’s what you do on your Monday morning when you decide to start your very own business based on what is taught in the Cash on Demand Modules. You find a hungry market …which is a niche market of people with high disposable income and you offer them a front end product and that starts your funnel and the beginning of your customer database.
Then once you’ve established a funnel…a set of customers you start selling them backend products. You are now doing this on the basis that it was profitable the first time round and you just continue to offer high ticket price products to your growing database of loyal customers. Because you repeat this pattern of pulling in new customers by offering front end products and then you offer them back end products so you’re continually making a profit.
Let’s look at this scenario in steps. Imagine you have a set of customers that have come into the top of your funnel by buying a product from you, priced £67. You’ve treated them well. They ordered and two days later their product from you, arrives at their home. And on opening it, each of those customers see that it’s actually quite good stuff and you’ve sent them all the bonuses that you said you would.
One of these customers may decide it’s not quite right for them. He decides to send it back. And wow, he’s sent me my money back…I’m impressed.
if you treat the customer well at point number one and point number two and every time you deal with that customer, they will become loyal hungry customers of yours.
Building a database of loyal customers is probably one of the most important lessons Andrew Reynolds teaches all of the students of his Cash On Demand Modules.