Andrew Reynolds the author of the Cash on Demand course, instructs his students that building a database is priority. It’s at the heart of a successful Cash on Demand business.
He talks about how to do this in great length within the course, but because it’s so important he also covered the subject during a live talk.
As he said, “You’ve seen this in Cash on Demand but, I need to hammer this home. If you miss this, if you don’t get it into your sort of business model then you’re going to fail. You need to build a database.”
And Andrew Reynolds continued by going over this for us and he first talked about the marketing funnel. You need to put loads and loads of people into the top of your marketing funnel. And you do this by offering a low-cost product, for instance a £67 product. So, remember this, the first product you sell, is towards long-term high profit, not short-term profit, because that short term return is low. But, because these customers are put onto your database, a percentage of those customers will be responsible for giving you your long-term high return profit.
Look at it as a money funnel if you like.
So, that’s what you do first…you put customers at the top of your marketing funnel, by selling a low cost product.
As Andrew Reynolds explains this is like getting people behind the start line so that you can fire off the pistol, when you’re ready. There’s no point in putting up a start line and not having a load of people ready to take part in the race first. Once you have people in at the front end, by using a low cost product…which I’ll talk about in a second, you then offer the first of your back end products.
Andrew Reynolds currently has a back end product that sells for £697 + VAT…so £700. To talk about this a bit further, you can come in with a £67 product, that’s your front end product which gives you a database of customers. Then you offer back end products and this is when you make real money by offering different products at varied price range. For example, Andrew Reynolds explained that he not only has the £700 product but here, at the live event, he has another product that sells for £397. He’s also got another one he’s working on, which will be £15,000.
And this is how it works…
Once you have a database you can fire the pistol off two or three times a year and you can offer these varying cost products. Does that make sense?
You are always offering a product or service in your niche market. Building a database applies to any niche market. The way that Andrew Reynolds makes the most of his Cash on Demand business is by having a number of funnels running. It’s not just one funnel. To show you what Andrew is talking about here, he explains, “It’s not just for example, the Cash on Demand system, I have other different funnels for different niche markets”.
So, as Andrew advises, to make the most of the Cash on Demand system, to use it to make the most Cash for yourself, you should go out there and practice on one niche market. And in five years time, you’ll probably be doing something totally different, you’ll be in another niche market that will take off and become the centre of your Cash on Demand business.
Don’t get hung up on worrying about choosing what your funnel is going to be, don’t think once you’ve decided what your funnel is going to be, that’s it, because you can and more than likely will, change the niche markets that you deal in.
Andrew Reynolds shows many different little ways of making money from a Cash on Demand business. And it’s up to you how many of these methods you use and how much money you make.
If you are a student of the course you will learn the full Cash on Demand system