Fabian Tan

An often-overlooked way for internet businesses to increase their profit is to increase the Lifetime Customer Value of their business. In other words, the amount of money an average customer spends with the business over a lifetime. It's easier to sell to a current customer than it is to go out and find new customers.

So how do you increase the lifetime value of your customers and turn your business into a reliable cash cow? Let's look at some 'backend' products you can sell that increase your overall profits:

1. Home Study Courses

If you sell an information product online, then a home study course is a perfect complement for advanced users. You can sell an introductory ebook on your topic, then include the home study course as an upsell on your site. This has the whole works - printed manuals, DVD's, worksheets etc.

2. Membership Sites

A membership site is the ultimate way to earn passive income online. For a one-time payment, you get multiple payments from the same customer coming your way every month! This is an essential in any sales funnel in my book as it can massively increase your bottom line.

3. Coaching Program

Including a coaching program in your sales funnel is always a good idea. Usually, it is the most exclusive product you will have, where you get a few high-paying members to work with you one-on-one to help them improve. Imagine if you charged $1000 for your coaching program. You only need to find 3 people every month to be making $3000 extra for your business!

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