Sell this one thing to get rich (PROFITABLE BUSINESS IDEA 2023)

If you were to have just a like fixed product, then anytime something was hot and new in your market, you would need to create a different product for that. Whereas here, because it's a newsletter as the backbone and a premium can be, a premium can be a 10 page, 20 page PDF. And so this gives tremendous flexibility which allows for or enables agora to have 10 different copywriters all working on from front end promotions.

Can you sell one single product for life? Amateurs will say you can't, but I know better. At some point in your business journey, you might struggle with diversifying your product portfolio to boost profits. However, the true secret lies not in diversifying, but in perfecting, honing a singular product so impeccable and efficient that it garners sales for life. Today we're going to talk a little bit about how you can build a flagship product that ultimately, ultimately not only can be used to acquire more and more customers with much less effort, but also retain their loyalty.

I think I've shared this numerous times, but I think this creates more context for you and it's also a good review and explanation as to a bunch of things. I've worked with Agora publishing for about 15 years. So Agora is this $2 billion info publisher that sells through direct response and their front end products by almost all of them, not all of them, but almost all of them are newsletters. In direct response we call a front end product a product designed to acquire a customer. And a back end product is designed to increase the value of that customer on the front end. Almost all of Agora's products are newsletters. Now when and the reason they're newsletters is one for two reasons. One, it lasts for a year, right? Once paying 49 bucks to have a year long subscription. Which means that now Agora has the opportunity to market to that person for a whole year and they will market to that person every single day, sending content and also marketing. So a year to get the the new client, new customer to know and trust the guru to then want to spend more money to have a more intimate relationship, get better, more timely advice from that guru so that they can make money in the stock market or in health. And that's the back end. And that's how we create a lifetime value that is significantly higher than the cost per acquisition. And the cost per acquisition is the cost that it takes to acquire a customer. And that's based on the front end. Now another reason why newsletters are so good for a front end, besides being something that can help bridge a bonding relationship is that is the way newsletters are sold or anything that is continuity based. And that is because there's a continuity element to it and because we don't, nobody can predict the future with certainty. The way most newsletters and ongoing continuity programs are sold is with a premium. Something that serves immediate gratification, right? Something that people can get right now. And at Agora, the way we do it is, and this is important is the premium can be based on anything that is hot in the market with our prospects right now. So for Gore, which is primarily investment in health, like we can create a premium about certain things in China that are about to explode or certain anywhere at any time, right? And so this gives tremendous flexibility which allows for or enables agora to have 10 different copywriters all working on front end promotions, new customer acquisition promotions, right? All for the same newsletter that all will be very different promotional promotions because the copywriter is going to pick the premium based on what they believe would be the hot sexy thing for the moment. And so many times, not always, but once again, most of the time a promo for any of these newsletters will focus on the premium for the first half and all about this wonderful premium. Oh, that you're going to get free when you subscribe to. And then the second half is about the newsletter tied back into the premium. Part of the beauty of the Agora model is that you're not tied to a specific promotion for a product, right? Because if you wanted to think about the alternative for a second, if you were to have just a like fixed product, then anytime something was hot and new in your market, you would need to create a different product and the time to create the product, time to create the promotion, all that kind of stuff, right? Whereas here, because it's a newsletter as the backbone and a premium can be a premium can be a 10 page, 20 page PDF here, nothing has to change whatsoever to capitalize on whatever's hot in the moment. The point is that if you can develop a product that your core, core product for acquiring customers, if it can be something that is constantly being sold, can be sold by premium, right? Then you never have to worry about that product being outdated, right? Or the more importantly even the promotions for it being outdated because you can constantly create new promotions, if you can constantly create new promotions for it, then you want to make the product that they receive better and better, right? Because that's going to be your new customers first impression expression of your business. And it gets easier and easier the longer you've been doing that Product. I wanted to create a product that not only capitalized on what I just explained to you, but also that the product itself would spit out as just a natural function of it being existing. It would spit out what could be premiums every month. Something so that we wouldn't have to go out and create premiums, but just the natural function of whatever it was we were creating would actually create the premiums just in and of themselves. What we're delivering as part of the product to our current subscribers or our current members could also be used as a premium to entice prospects to become clients. So I'm trying to create a front end product that benefits from the fact of like long term, no can trust that self generates through what it delivers to customers potentially numerous premiums that can be can drive promotions. Right. And so based on that criteria, I developed Steal Our Winners. Now this is where they are going to hear about marketing tactics and strategies that a year or two years before it's ever in a course they're going to, they're going to come across it here. There's a reason why we have 100 contributors. Just to give an example, I think it was. Yeah, a couple months ago I did a segment with Russell Brunson and he walked us through the single most successful funnel that click funnels ever developed that is more responsible for growing, for the growth of clickfunnels than any other funnel and that Russell spends over a million dollars a month on and it's cash flow positive. And that's the funnel that he went over in his Steal Our Winners segment. Now that in and of itself could be a premium that we would then go out and sell Steal Our Winners with. It would be, the first half would be all about this special funnel that Russell has used to grow click funnels more than any other funnel. It's the most successful funnel that he's ever built. He spends over a million dollars a month every month on it. And you get that free when you subscribe to Steal Our Winners. Right? That's the whole idea. And so each month we're delivering between eight and 12 of those and we could just pull one out, put it out right as the top of the pre of the promotion. Other parts of the promotion will reference back to it. But the second half is more or less the same with a couple of points where we interject the premium in. But the second half is all about Steal Our Winners. So then to create new promotions, all we have to do is take the most sexy segments from each month and then use that as the premium we could also combine a bunch of Right. So I've done about nine or ten different Steal Our Winner segments on webinars. Everyone from like Onyx and Gal talking about a strategy that he used to cut his lead cost in half and boost his show up rate to other well known gurus, marketers, growth hackers sharing the specific strategies that they're currently using to make webinars work. And we can take those and now create the Webinar Performance Multiplier or Webinar Profit Multiplier pack. And it's these nine gurus sharing their greatest strategies that they're currently using to grow their to make their webinars as profitable as possible. Right? That also can easily be generated through Steal Our Winners because we're doing these segments each and every month. So therefore that becomes another type of front end promotion that we can use. And we already have all the material. Right? And that's the important part.

So suppose you've got an idea of your flagship product and its premium. What's next? After creating your product, the natural next step is to promote it. Check out My next video, 9 Genius Online Marketing strategies you've never heard of. To learn more about groundbreaking tactics that can skyrocket your sales or or if you're interested in retaining customers loyalty, check out my video about how to onboard customers in their first 30 days. I'll include both of the links at the end of the video. Don't forget to like, comment and subscribe for more insights to higher profits and beyond.