Can this system make me $70k per month within a year? Why not?
My motivations for IM:
My objectives for IM are mostly short-term, something to bring in cash over the next five years or so. I can talk about the reasons for that, but suffice it to say that I want to focus on other types of entrepreneurship in the long run. I see IM as a financial springboard to that. I'm also interested in IM for some passive income that's as stable as possible. No, I'm not looking for easy money or get rich quick. I'm happy to spend a lot of time, energy, and money upfront in the early stages, but I'd like to build a system that won't require more than 5-10 hours per week to maintain, if that. Consequently, I've looked for opportunities in IM that seem to be more stable. From what I've seen, affiliate marketing is crazy unstable, so I decided that creating my own product lines and marketing them myself was the way to go.
My specific goals:
- Be making a reliable $10k / month by the end of the summer
- Build out 10 product lines by the end of the year
- Have each product line making an average of $200 per day in profit
- Come up with non-IM niches where I feel a good opportunity exists for new products
- Narrow the list of niches through keyword research and competitive analysis
- Test demand by setting up landing pages and/or squeeze pages and driving traffic with PPC. Measure clicks on order buttons.
- For niches that seem to have buyers, move forward and produce info products (ebooks at lowest level, with audio / video products for upsells)
- Build squeeze pages and sales pages for intro product (ebook)
- Use PPC to drive traffic initially
- Use article marketing and other SEO techniques to drive free traffic over time
- Build a mailing list and push them quality content and offers, both upsell/cross-sell of my own products, plus affiliate offers for products
- Once a product line is up and stable, start back at #1 and build the next one. Rinse and repeat until I have 10-20 product lines.
Over the 90 days or so, I've gone through steps 1-6 for two product lines. One just went live about a week ago and the other should go live in the next week. One is in the relationship / self-help niche, the other is in the gardening niche. Both tested very well and I hired ghostwriters to write 80-100 page ebooks and 3-4 bonus ebooks (~10 pages each) for each product, plus a 5-10 page free special report to give away for opt-ins. I'm selling the ebooks for $27. The self-help/relationship ebook had a sale every day for its first four days at a respectable conversion rate, but then things just dried up and now it's been five days and nothing. Not sure what happened there, as I'm still getting the same amount of traffic, but I'm testing the hell out of everything and playing with it, so I'm sure I'll figure it out. I'd love feedback and ideas, though. PM me if you want to see the page.
My assumptions on what's realistic (average per product):
- 50 paid visitors per day (Google, Yahoo, MS, Facebook, etc.)
- $.50 per click on average
- 100 organic search visitors per day
- 3% direct conversion rate from visitors
- 10% opt-in for mailing list
- 20% of opt-ins will buy $27 ebook
- 20% of ebook buyers will buy $70 premium product
Anyway, that's pretty much it so far...I'd love specifics on my first attempt and how I can get it selling again, but mostly I'd like feedback on the overall plan, things to watch out for, what won't work, and how I can improve it. Thanks!
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Cheers, John
Codeboss -- Useful Software Tailored For Your Business
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The 2nd Amendment, 1789 - The Original Homeland Security.
Gun control means never having to say, "I missed you."
The 2nd Amendment, 1789 - The Original Homeland Security.
Gun control means never having to say, "I missed you."