Affiliation
You have hobbies, interests, and activities. With the invention of the internet, you can spend a whole lot more time doing things you love. For example, if you love pets, and you have an internet connection, you’ll probably develop an affiliation (a connection or relationship) to pets and pet products. As you go around, meeting new people, they will take a greater interest in these hobbies, increasing the demand for this type of product.
Marketing
There are two types of marketing: direct marketing, and indirect marketing. Direct marketing is also called CTA marketing or Call To Action. An example is “Buy this product”, or “Sing up for your Free Trial Today”. They Focus on the product and how it feels to have the product, and then suggest a plan to take action. The second type of marketing is indirect because you make no money promoting products indirectly. In exchange, you reduce the cost to market your products. An example of indirect marketing is “Visit Las Vegas,” or “Visit Texas.” Sure, you’re presenting something material. Texas is a place. Someone owns and controls Texas. You could go to Texas and touch it. But if Texas was a barren wasteland, telling someone to go to Texas makes no one any extra cash. Now If tell you to got Las Vegas, when you arrive, you will see billboards, and casinos, and restaurants, and television programs and radio advertisements, and people handing out fliers on the street. Indirect marketing brings the audience closer to the products the advertisements promote. This both increases the effectiveness of the advertisements, and decreases the overall cost.
Consider the cost for a 30 second commercial during the super bowel. One of these commercials can cost well over $1,000,000 in airtime alone, not to mention the fees associated with hiring a nationally recognized actor (actor/ brand recognition boosts ad effectiveness). Pretend that this is an Ad for a City, Santa Cruz, CA. There are thousands of stores in this town. If all of them wanted a space in 30 second commercials, none of them would have the same effectiveness they could have if they just sent out flyers around the country. Instead, for $1,000,000 the city should display the city (the market) as a beautiful place worth having or visiting. People then travel to the Market, and Each of these several thousand companies can advertise more effectively, and for a lower price. They can grab more than a millisecond of the consumer’s attention, and the product is easier to reach.
What is a Market?
With the increase in globalization, and the dependence on the internet, the term “market” has a general meaning. The term Market, now refers to the group of people who share a demographic: The young market, the married market, the retired market, the male market, the female market.
Instead of general concepts, a market should refer to a specific place with people. This makes direct marketing easier, and makes indirect marketing relevant. If you don’t know who you’re reaching with your advertisements, you cannot control who purchases your product. If you can’t reliably make people purchase using an advertisement, then attracting people into the market to listen to more advertisements is redundant and irrelevant.
A market is a place with people and the option to sell a product or present an advertisement.
Affiliate Marketing
Combine what you’ve learned with Affiliation and Marketing. You know that as you meet people your affiliation coupled with your friendship drives demand for products such as “How to get your ex back,” or “How to make money online.” It also drives up demand for products such as diet supplements, subscriptions to magazines or other services, and really anything that you could enjoy. You also know that a market is a place with people and the option to sell or promote a product. Finally, you know that marketing is about selling a product directly or attracting people to a market. This means, you want to pick something you enjoy with lots of products, you want to define your market, and promote products and attract people to your market.
To make money, you sell AD or retail space in your market, and you sell products yourself. When you sell ad space in your market, you’ll generally charge either per click, per visitor, or per day. Some instances you will charge per lead. I should point out that you’ll probably think the person placing ad as giving you money, instead of you charging them. If you maintain this tendency to think people are giving you money, you will feel less entitled for the products you offer. Event though you still get money, hold the belief that people are taking something from you, and you are charging them, rather than people are giving you money, and you’re giving them services in return. This is because you want them to believe they already have the product. If you assume they already have the product, then you will seek payment relentlessly and make more money.
When creating a product, make sure you can maintain a competitive advantage. The indication that you have a competitive advantage is at least a 40% profit margin, and proportionate expenses. If you stick to your areas of expertise, you should be able to maintain a competitive advantage.
As an affiliate, you can charge anywhere from 50 to 100% commissions for every sale. Considering the products you find in the beginning do not negotiate commissions, it will feel like they’re giving you money. Still remind yourself that you’ll charge and you are charging 50 to 100% commissions.
Finding a Market
Pick a place with people with the option to sell. Rank each market by profit.
TotalSalesVolume X Price – (marketing+fees)
This is your Standard sales volume for the total market. Some people will buy less, and some people will buy more. you can’t know if a market will love purchasing your product until they purchase your product.
Pick your top 3, and test them for a trial period
Focus on your top market after the trial period ends
Finding a Niche
A niche is a group of people WITHIN A MARKET who’ve already purchased one unit or more, and are capable and willing to buy a similar product. The best advice I’ve received about marketing is about people with over $10 million dollars. “Selling a house to someone who has 8 boats is ridiculous, sell that person another boat.” If a person is rich, and can buy anything he wants, the number of them he has indicates he is likely to buy more. I a person more likely to buy a pencil if he has 99 of them or a house if he has 1 house. In that case you should sell the person a pencil.
The most common mistake people make is an over generalization. They forget that a niche exists within a market. If you start your training listening to a guru, you’ll hear a lot about their favorite niches. What they aren’t teaching you is that their niches may not exist outside of that market. Of course, if you can reach the markets that contain the niches these gurus talk about, then you can make as much money as they have given you face the same amount of competition.
To find your own niche, find a market, and start selling. People who’ve purchased your product form your niche. When you find a niche, sell to them again.
Resources
Online Markets
- the landing page of any website
- The footer of any blog post
- The header of any blog post
- the right/ left column of any blog post
- The content of a blog post
- Old Domain name
- E-mail Inbox
- Facebook Feed
- Forum Post
- Amazon
- Ebay
- Clickbank
- JVzoo
IRL Markets
- your house
- your street
- your corner
- your neighborhood
- your school
- your work
- the mall
- the mailbox
- TV
- Radio
Autoresponders
- Aweber
- MailChimp
- ReachMail
- Iconnect
Hosting
- HostGator
- GoDaddy
- 1&1
- WordPress
- Weebly
PLR/MLR (upsell and lead magnet products)
Publishing
Lead Magnet
A lead magnet is a product people will give out their e-mail address to get. Usually, you offer this for free. They then give you their e-mail address to sing up for more e-mails in exchange for giving you their e-mail. If you send them material related to the product you gave away for free, they are more likely to buy than if you sent them material about something else. You are more than welcome to test the different demands within your market, but if you bring people into your market who’ve already given you their e-mail address in return for something their interested in, your entire market is a niche. if you want to sell to them, sell them a similar product.
Automation
Over the course of doing business you will figure out the best order to sell products. First people want something simple. Then they want something more valuable. Then they want a subscription, and they will finally ask for private coaching or other private services. The closer to the beginning of the list a type of product is, the less it costs. You will generally sell more of those products than anything else. If you decide you want to sell more valuable products, you first have to automate the sales at the lower levels.
use autoresponders, websites, Frequenlty asked question’s pages, and computer programs to deal with simple tasks.
Simplify the process. If you have 1,000 purchases every month, and you need to buy inventory, purchase all the inventory from one place, even if it costs a little more. The only exception is if you compromise your profit margin more than the next product can make up for. If you sacrifice 2% of your margin to purchase all at once, you then have to add an additional 2% to your margin on your higher end product.
After you use systems to automate, assign tasks to employees, freelancers, and other workers.
Begin work on the next level within your income funnel.
Trouble Shooting
I don’t have any traffic to my website – Find a market with people in it. Create an advertisement.
People aren’t buying – there are several reasons. Usually, you put the wrong offer in front your audience. The easiest solution is to find a product people have already purchased and sell it to them. To improve the quality of a product, adjust either aesthetics, functions, or message. The more beautiful a product is, the easier it is to market. The more functions it has, the more you can charge for it, and the clearer and louder the message, the more people will buy it. However, they build off each other, so if you want to sell a similar product, improve one of these areas and the perceived quality of a product improves. A plastic water bottle made of thicker plastic is easier to sell than a water bottle made of flimsy plastic because it is more aesthetically pleasing.
People aren’t opening my e-mails – Step 1 find a market, step 2 find an existing niche within that market, Step 3 – talk to the people within the niche, Step 4 – send them e-mails about topics within the niche (these will be the same conversations you’ve had with one or more people within this niche)
I’m not making any money – create a budget. Commit to always spending the amount of money in your budget, only on the designated expense. Never spend more, never spend less than what you commit. You will make a profit if you designate a section in your budget called “Profit”. Mine is $57/$100
I have a low conversion rate (30% or lower) – Look for people who’ve already purchased a product before. Put a similar product in front of them. Improve one aspect of the product aesthetics, functions, messages. — alternatively, your problem could be your sales page, or your purchasing page.
My advertising isn’t working but I know people will buy – this only applies if people who’ve bought from you before complain that they want to buy again but couldn’t figure out how.
Simplify your design. Use a maximum of three colors, three fonts, and three points. Your most important point should take up 2/3 of the design. Include a Call to action as either your most important or second most important point.
You’re laughing, but I’ve seen some terrible designs. This happens.
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