Time for the 5th and final article in my step-by-step list building series. In the first 4 articles I have focused on setting up a full list building system, monetizing the sign up process, and putting up a great follow up series, featuring good affiliate programs (you will find links to the first 4 articles at the end of this post). Today we’re going to take what you’ve learned so far, and explore how you can take it to the next level.
So How Do You Get Filthy Rich On The Internet?
Following the steps in the first 4 articles is a very good start. Building your own list is extremely important if you want to be successful in internet marketing, and you can make a very decent income just from promoting affiliate products… But in order to take your internet marketing career to the next level (the filthy rich part), you really need to have your own products. As you are about to discover, setting up your own product isn’t that difficult. But first lets take a look at some of the benefits from having your own products.
Leverage Your Affiliate Program
If you have your own product, you can also have an affiliate program. By giving your affiliates an incentive (usually cash commissions) to promote your pages – you can move from just you promoting your squeeze pages, to having hundreds, even thousands, of people driving traffic to your site. Sure you give up a percentage of each sale, but the extra sales will outweigh that by far… Being able to run an affiliate program is one of the biggest reasons why you want to have your own products.
Leverage The Power Of Joint Ventures
With your own products you are also poised to do joint ventures with other marketers… You can promote their products to your list of customers/members, and they can return the favor. You can find products related to your service and add them to your auto responder follow up series. Not only will you earn commissions on any sales you make, but you can get your JV partners to turn around and add your product to their follow series. You can also do various other forms of integration marketing with your JV partners, including swapping thank you page ads, log in/log out ads, exit pop ups etc. Doing joint ventures like this is arguably the fastest and most profitable way to grow an internet business.
Leverage Your First Product To Expand…
Launching a product, doesn’t matter if it’s a free or paid service, ultimately comes down to building a list of customers/members. Chances are that your original customers will be the people most likely to buy from you again. In other words you can leverage your original lists to launch new products and services. This particular strategy is very well covered in Robert Puddy’s Mastering The Membership Model ebook, you can download a free copy here.
Setting Up Your First Product…
… Is actually quite easy. In line with Robert’s ebook above, I highly recommend that you set up your first product as a free to join membership site. I use and recommend the full version of the Launch Formula Marketing Script. But if you purchase the one time offer at either Floating Action Button or TweetMyBlog you will actually get a free copy of the LFM Lite script, which is perfect for setting up your first product.
Creating a free product, that people want to sign up to get, is very similar to the process I described in How To Set Up Your Squeeze Page & Monetize The Sign Up Process. Here’s a rough battle plan for you.
- Create a free product that has enough value to make people want to sign up at your membership site to get it.
- When they sign up for the freebie you present them with a one time offer. This could be for an upgraded version of the product, some related products, rebrand rights to the ebook etc. This will of course generate some profit that you can reinvest, and thus grow you site faster. But the real purpose of the OTO is to generate commissions for your affiliates and JV partners – keep them happy and keep them building your list.
- Then you have your follow up series for your new customers. With a free to join program you want to monetize it the same way as I explained in How To Write A Killer Follow Up Series That Converts Like Crazy. Of course now that you have your own product, with an affiliate program – you should put more effort into finding JV partners, so you can swap auto responder emails.
- Use your new list of members (and affiliates) to launch new products and services.
Using something like Launch Formula Marketing, makes all of this very easy. It has an inbuilt affiliate program (every member is automatically an affiliate), it automatically integrates with your auto responder and it presents the one time offers to your new members.
Some Ideas For Your First (Free) Product
Write a short ebook on a topic people in your niche are interested in. If you don’t want to write your own ebook you can go to elance.com and hire a ghost writer. You can get a super quality ebook written for under $500. If you go the ebook route, it’s pretty simple to come up with a good one time offer – you can offer rebranding rights or maybe resale rights, plus some related bonuses.
Doesn’t have to been an ebook, you can give away software, scripts, plugins etc. TweetMyBlog is a good example of free to join site, giving away a free WordPress plugin. Again you can go to a freelance site like elance and get a programmer to create something for you.
Another (very simple) option is to grab one of the many private label rights products out there, and put your own spin on it. New graphics, edit the sales letter a bit, maybe bundle a few products together. Resale Rocket is my favourite place to hunt for good PLR and resale rights products.
You should also consider making your first product an interview product. Get on the phone and interview some marketers on a topic your target market would be interested in. By interviewing successful marketers you get the benefit of becoming “famous by association” – and if they are willing to do the interviews in the first place, chances are that you can also get them to promote your product (instant high profile JV partners right there). I highly recommend that you grab a free copy of Bob Jenkins’ Teleseminar Formula – It will show you step by step how to get an interview product set up in 10 days or less.
I also recommend the Dominating Clickbank Videos. They will show you step by step how to take a resale rights product and turn it into your own successful product. I actually used Dominating Clickbank as the blueprint for one of my first product launches, and as you might have guessed, that turned out pretty well for me
We’re At The End Of The Series
I hope you have enjoyed these list building articles… And that following the steps, have gotten you started building a list and that you are starting to see some profits from your efforts. As I said the first 4 articles deal with laying down the foundation for internet marketing success, and it’s something I believe everyone should set up… before even starting on creating their own product. But as we have discussed here today, creating your own products is the key to taking it to the next level… and possibly getting filthy rich on the internet.
Here are the first 4 articles, in case you missed them:
1. How To Set Up Your Squeeze Page & Monetize The Sign Up Process
2. How To Write A Killer Follow Up Series That Converts Like Crazy
3. How To Drive Massive Amounts Of Traffic To Your Squeeze Page
4. How To Drive Even More Traffic To Your Squeeze Page
What About The Ebook?
As I’ve said before, I’m going to take this article series and turn it into an ebook. However I have a bit of work to do before you get to see that. I want to add some more content, make the ebook rebrandable and add a killer affiliate program to it. In other words, you’ll have a to wait a bit, but I can promise you it will be well worth the wait.
Got Any Comments, Requests Or Rotten Eggs You Want To Throw?
Feel free to leave a blurb below if you have any questions or comments about todays article (or the series as a whole) – or maybe a few suggestions for what you would like to see in the final ebook – thanks