How to Build a Profitable Web Business

[gregdolday]

Hi All,
I recently documented some of the way i'm doing things now that i've got a few runs on the board and I thought others in the group would benefit from it.

Here is my summary of the fundamentals on How to Build a Profitable Web Business.

1. Find a Hot Passionate Niche Market

Must be Easily targeted group of people
Must be passionate
Must have a Problem Statement associated with it
Must have money & be Motivated to Spend it
High Demand
Low to Medium Supply – Can you compete and be profitable?
Can you sell to them more than once?

2. Find a Product or Service to sell to Niche Market

Must Solve their Problem
Must be in demand
Something they ‘Want’ rather than necessarily ‘Need’
Profitable Price Point
Unique
Create Massive Value
Or Create a Product?

3. Build a Website that Sells

Obvious what the site it about and who it’s for
Clear Primary Course of Action
Emotional Elements and Copy
Logical Sales Process

4. Get Traffic (Prospects, Leads & Buyers)

Pay Per Click (Google Adwords etc) is great to start with
Test Fast
Test Cheap
They are already looking for you (or the problem you solve)

Compliment it later with Organic Search, WEB 2.0 etc.

5. Monitor and Test / Tweak

What are our visitors doing when they get to our website?
What can we test changing to increase conversions?
Approach this in a systematic but simple way

6. Sell to them again - backend

More cost effective to market to our existing leads and customers

What other products and services do they want?
How can we provide more value?
How can we solve more problems?

7. Repeat the Cycle with new niche or sub-niche

The worst number in business is one

Multiple small incomes can add up to replace our ‘day job’ wage

Cheers, Greg

[TLTheLiberator]

Great post!

Clear this up for me...

Are you advocating the affiliate model or the info-product model to monetize or both?

Thanks,

TL

[kerry29]

Thanks for the info. This looks great!

K

[YseUp]

Obvious what the site it about and who it’s for
Clear Primary Course of Action
Emotional Elements and Copy
Logical Sales Process

This is what I'm struggeling with at the moment.

I'm creating a review site for clickbank products in a particular niche. Although I'll promote a range of products I'll focus on 5 that I really like by doing video reviews for them and having a window open to the sales pages when the video is finished.

But I wonder if the site will not have a clear course of action if there are articles on there as well.

Do you think a site that has a mixture of written and video reviews as well as articles about the niche will be less effective than driving people to a single sales page?

The main thing I want to avoid is having something that I have to continually update and I'd rather build something that I can 'set and forget'.

Thoughts?

[gregdolday]

Hi TheLiberator, I'm advocating both the affiliate model and the information marketing model. I'm in multiple niches and some niches I am an affiliate and in other niches I have made a product.

I have just gone into a new niche this week and I now start with an affiliate product, whether it be from clickbank.com or where ever, and then if the market is profitable I will then look at whether or not I can get a bigger piece of the pie by making my own product. I used to make my own product straight up, but that was a mistake and it cost me heaps of time and money that I now avoid.

[gregdolday]

Hi YseUP,

I personally haven't had any success with review sites, but I do know other marketers have success with this approach.

I am an Internet Marketing Strategist in Australia and I have provided consulting services to a large percentage of the Millionaire Internet Marketers in this country. I haven't seen any marketers in this country get massive results from this review technique. I would say change the model so that you are finding a niche that you are passionate about, then find a product on clickbank that you can be profitable with (aim for something above the $27 price point otherwise it will be hard to make a profit) then set up your own sales copy page for it. Offer them bonuses that they have to email you for after they buy, and that way you can build a list at the same time and market to them again. This will work out a more profitable strategy once you get good at it. I have a mate who did $3m this year on clickbank doing just this. He only sells products with high gravity (meaning highly popular) too.