How to Generate Income From Your Biggest Asset-Your Mailing List
How do you do it? You can simply create a mailing piece giving details about your list, mail it to the list brokers (whose names are readily available out of Standard Rate & Data??s Direct Mail Lists, Rates and Data) and sit back and wait for the orders to come in. The broker will bill the renter of your list on your behalf and when he receives payment from his client he??ll remit to you rental income less a commission of 20%. BEWARE: List brokers are frequently slow in paying for rentals. Some list brokers blame it on the fact that their client didn??t pay them but we have heard of cases where the broker has taken weeks after he??s been paid by hit client to remit to the list owner, you.
The broker takes no liability for collection of the bill. If and when the broker gets paid, you get paid. If he doesn??t get paid, neither do you. Thus, it is important that you exercise credit approval on his client and do not hesitate to ask for ??cash up front?? if you doubt the credit worth of his client. Most brokers are reputable and will (eventually) remit to you after they??ve been paid. All promotion and sales activity rest on you. Brokers will phone you in advance for information and clearance approvals.
The second way to earn a large sum of passive income is to have your mailing list managed by Strategic Alliance List Manager (SALM). The SALM job is to find and create joint ventures with firm who??s products complements your exist products/services. Although this may sound easy, it??s sometimes very difficult task. Here??s how it works. The SALM goes to the complementary firm and tell them they will sell their products for them without any upfront marketing cost or capital risk. Why? Because the SALM and you only get paid on the number of prospects from your list that purchase the complementary service.
The first thing the SALM would do is find companies with products or services that your customers would want to buy and then you negotiate a joint venture deal where you would give your endorsement to their products for a percentage of the profits. This percentage is negotiated and so are the expenses.
However, when there are residual sales in the mix, the SALM would negotiate for you to get the largest percentage of the profit. For example, your SALM could go to a company and tell them that you??ll allow them to market their product or service to your customers and will structure it in a way that you??ll give them an endorsement and pay all or half of the up-front marketing costs, but you won??t take a percentage of the profits on the first sale. All you want in exchange is 25% or 50% of the profit from all the residual sales that company makes to your customers.
This is an enticing offer to the complementary company because it allows them to access a whole new group of customers with little or no up-front marketing expenses. They??ll acquire customers they probably wouldn??t have been able to get and all it costs them is a certain percentage of the profits from future sales.
When I first started Xspology.com, I didn??t have a lot of money for marketing. I knew I had a great product. In addition, I knew there was enough built-in margin in my services that I could partner with companies that had clients I wanted and pay them a respectable amount. It was a win, win for me and my partners. I walked away with new clients with no up-front cost and my partners walked away with a fist full of cash.
Here are some of the benefits to you acting as the list owner in the joint venture. You are making money you otherwise wouldn??t have made! You??re generating outside streams of cash flow without any cost of sales or overhead! And you??re able to recoup the investment you??ve already made in your customers and prospects and all the other assets you??ve built up in your company over the years.
If you wanted to be the on the other side of joint venture, your SALM should be able set that up for you also, simply by turning the tables. When you??re the person to exploit the list of another firm you offer that firm customers special inducements because of the relationship between you and his company. For instance, in order to really garner the customer??s trust, you may have to give a longer guarantee or more product options or a lower initial investment. This overcomes their natural sales resistance and it helps make the host company look good in the eyes of its customers because it??s offering them a special deal.
In deals like this, the payoff is always negotiated. There are no hard and fast rules for who gets what. Usually the list owner pays the marketing costs and gets repaid off the top. Both sides share in the remainder of the revenue. In some cases, they two sides split the marketing expenses and split revenue.
Not all the splits will be 50/50. It depends on the offer. Sometimes it make more sense (and profit) for the list owner to forego any profit on the front-end because there are heavy repeat sales. The complementary firm may give the list owner all the profit on the front-end and nothing or very little thereafter, because the beneficiary plans to make all his money on the residual sales.
As you can see your list is your greatest asset and your meal ticket to greater finance. Many business owners build their internal list from their website by offering free reports, subscriptions, and tools in exchange for their contact information. Others business owners keep an in-house database of all their prospects and clients that available for rent. No matter what method you use to capture names to your list, realize this, if you do not use or manage your list effectively you are literally throw tens of thousands of dollars out the window and into the trash.
If you don??t believe me look at this way. Xspology.com offer its partners and affiliates 50% of the residual and up-front profits of clients they bring and if a partner brings 50 clients to Xspology.com then the partner will receive $12,500 a month. I think you would agree that being Xspology partner is great source of income for little to no work or investment. There is absolutely no reason you can not copy this formula and make it work for you too.
About Xspology.com Inc. Xspology.com is an executive coaching firm located in Atlanta, Georgia whose service specializes in creating optimization processes and marketing strategies for financial and investment advisors. Advisors can download 10 sample strategic marketing and optimization reports at Xspology.com.
For further information contact: Bobby Ellis, President and CEO, Phone: (404) 964-2927
Author: Xspology.com
Author Bio:
Bobby Ellis is the founder of www.Xspology.com an executive coaching firm focused on helping business owners advance their: strategic marketing, process optimization, systemization, and client relations.
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