Money making Strategies: Own Products

Money making Strategies: Own Products

by on 14/05/2014

Money making Strategies: Own Products
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In my last article I talked about one of the money making strategies of selling affiliate products.

This is because somebody else has made the products already so you don’t have to.

The problem with this is, that you are sending them your leads all the time – for them to sell to in the future. And it’s better to actually collect the email addresses yourself so you can sell to them in the future instead!

Also, if you sell them an affiliate product, that’s one sale – and it’s finished.

Sell Your Own Products

Whereas if you sell your own products you can potentially get them to buy monthly, every month, for the next few years or so. That’s if you managed to craft a recurring products such as a membership.

Oh, and also it needs to be a good product so that they keep buying it. 🙂

You Want Control

This is really all about keeping control of the sales process. Well, why give this away to somebody else who’s going to make money from your customer?

This is mainly a matter of collecting your potential customers email addresses during the selling process, rather than just sending the customer to somebody else’s site.

What Can You Sell?

It’s important to sell something that there’s a market for.

But it’s hard to make a blanket recommendation here.

You might have an interest in a particular small market which has huge potential for making money.

Your chosen market does not have to be large. When you are thinking of the world as your market even a small market can have a lot of people in it.

The main thing is to choose a product, choose a market and make a start.

You are, pretty much, certain to get it wrong first time (sorry :|) But you will learn loads and loads!

To help you maintain interest it’s best to choose a topic that you are excited by. Then, simply create a product to help people who have less knowledge than you about it.

Do you remember when you were starting out? Create some training for people who are in the same position.

A Book

You can write a book. Or, you can plan a book and get someone else to write it for you using your outline.

A couple of years ago I had a book written for me on weight loss, which was 200 pages long. I planned the chapters out and the content and then gave it to a ghost writer who charged me two cents a word. There is no doubt; he was a better writer than me!

But, on top of that, it saved me a TON of time.

Videos

Many people love to watch videos as their preferred mode of learning. Not all – but many.

One straightforward sales funnel is to create an ebook for the “front end” product (the entry-level product), and then record a few videos as the “upsell”. The upsell typically sells for 4 or 5 times the price.

You NEED An Upsell

If you are going to create a product to sell, then ignoring the upsell is almost a crime, lol.

Your front end product might sell for $47 or $67.

If structured correctly, your upsell could sell for from $147 to $247. And a fifth of your buyers will buy this too!

So that’s why you absolutely must have an upsell. Otherwise you are leaving money on the table.

Resources

To get a book ghost written I’d try oDesk, a site which lists thousands of people who will bid for any job which you post. You can then choose the person you want to do the job.

Check out my Internet Marketing Tools post for:

Help with writing

oDesk and other outsourcing site.

Making videos

The best software and resources for making your own videos.

I particularly recommend Reel Marketing Insider by James Wedmore.

James is the best video marketer – and videomaker – I have ever come across. He’s a great teacher, and makes everything seem simple. He is also a great marketer.

You won’t find this combination often.

I am a member of his membership site and I strongly recommend it. I recommend you join Reel Marketing Insider and learn all James has to teach about video marketing, cameras, lighting, and many other video topics.

Start with Affiliate Marketing – Move on to Making Your Own Products

If you are not yet ready for making your own products, then start off with affiliate marketing – selling other people’s products. That can be a great place to start, because you don’t waste time creating your own products.

But when you are ready come back to the idea of creating your own products because it’s a better long-term strategy.

In the meantime, here are my best recommendations for people to help you with affiliate marketing.

The Best Teachers of Affiliate Marketing

If you want to make money with affiliate marketing don’t try to do it by yourself. It’s harder than you think!

Get the help of someone who knows what they’re doing.

I recommend Chris Farrell, Kelly Felix, Rob Cornish and Ken Evoy.

Chris Farrell

Chris Farrell is one of the most popular people online. He runs the Chris Farrell membership site and his members absolutely love him. He has been voted number one at the influential IMReport Card.

When your members say you are brilliant, you have to be doing something right!

Check out the Chris Farrell Membership here

Check out the HeyMalc Chris Farrell Membership review here

Bring the Fresh

This is the brainchild of Kelly Felix. Kelly is a brilliant Internet marketer who was hugely successful when I got going – 15 years ago. Did anyone come across The Rich Jerk? This was Kelly Felix’s cartoon creation and was really funny at the time.

Well, Kelly was young – and he “crashed and burned” when money went to his head.

But we are all allowed one mistake, right? He’s now back and runs Bring The Fresh a fantastic membership sites teaching you affiliate marketing – among other things.

Kelly is a great guy with a refreshing style.

Check out Bring The Fresh here

Check out the HeyMalc Bring The Fresh review here

SiteBuildIt

Ken Evoy is a legend among Internet marketers.

15 years ago he was writing fantastic, informative, unique books about how to build sites and how to rank them.

Then he created a system specifically to help newbies set up their own sites. He called it SiteBuildIt.

He was setting out to make it easy for the “clueless” individual to be able to get a website up and running and selling stuff in the shortest time possible.

Ken Evoy is a really decent guy and can be trusted completely. He makes it really easy to be successful online – in a highly supportive environment.

Check out SiteBuildIt here

Gain Higher Ground

If you stick with Rob Cornish you really can’t go wrong.

Rob is a personal friend who I see three or four times a year at various Internet marketing events. In fact, as I write this, I’ll be seeing him next Friday. He is very genuine and only wants the best for his members at Gain Higher Ground.

The good thing about Rob is that he teaches multiple “routes to market”.

So, although he definitely teaches affiliate marketing, he also teaches you that there are a number of other ways to make money online. And these are all taught, really accessibly, in his low-cost membership.

Check out Gain Higher Ground here

So, by all means make your own products and sell them; it’s a better long-term strategy.

But before you get to that stage cut your teeth by selling other people’s products – affiliate products.

And those people I linked to above are the best ones I have found to teach you affiliate marketing and make sure you don’t waste your time trying to do it yourself.

Move Into Your Own Products

Having built up an income using affiliate marketing, you may decide it’s time to get into making your own products. These will probably be “information products” such as ebooks and videos.

If you don’t think you can write well that’s not a problem – outsource the writing!

I have certainly done this, using oDesk. I once had a whole book written and it was a fantastic job.

Here are some other resources for outsourcing on my Internet Marketing Tools page.

And here are some resources for making video on the same page.

If you create and sell your own products, you can build up an email list. And then you can sell them not only other products you make in the future, but also affiliate products you really like.

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