Strategies
There are FOUR basic strategies involved in making money online woth many variations on each stategy.
In a nutshell the four strategies are:
- Create your own product or service to sell directly to your customers
- Sell someone else's product or service to your customers
- Create a popular and highly visited website and sell advertising on that site
- A combination of all of the previous three strategies
In this section we are going to deal with these strategies in more detail
1. Create your own product or service to sell directly to your customers
Creating your own product or service from scratch can be quite a task if you are lacking in creative flair, but you can get around this by editing and/or recompiling other peoples material (if you have permission of course)
The advantage of starting from scratch is that you have a unique product that no one else is already selling. Being the first to launch a product is always effective, until someone else copies your idea or steals your product and sells it themselves. Don't laugh, theft of copyright is a huge problem and very difficult to control.
But if your product is a good one and you market it effectively the potential for a huge profit is very real, some people make tens of thousands of dollars within days of launch!
But if the idea of creating a brand new product is a little daunting why not do what many others do, buy an existing product/s with Private Label Rights (PLR) and edit and add to them to come up with your unique twist.
This method leads to many new ways to work with existing products as you can mix and match to your hearts content. A couple of articles from one PLR product, a few from another, add in some related ebooks that you probably already have somewhere, rewrite an existing sales letter and voila, your own unique product ready for the market
2. Sell someone else's product or service to your customers
This strategy breaks down into two distinct options:
Sell a product as an affiliate, in which case you promote what is effectively someone elses sales page using a link which includes your affiliate ID. When a sale is made that is a direct result of your promotions you earn a commission, which could be anywhere between 10% to 100%. The smaller percentages tend to be on high ticket products whereas the higher percentages are common in the popular 'dimesales' where a product might sell for around $7. You get all of that amount whilst the vendor gets a new customer lead which will be worth very much more to them in the future
The disadvantage of this approach is that in many cases you never get to find out who purchased the product, so you never get to add them to your customer list!
OR
Sell a product that you have the sales rights to. These are generally ebooks or software packages that you have already purchased. Your purchase came with rights to resell the product, and very often the sales page to sell it from. All you do is add your payment links and upload the site files to your server. This can result in a very quick turnaround as I can purchase a new product and have it online literally within half an hour! One twist is to compile a number of products into a bigger package which has far more perceived value and frequently appeals to a far larger audience
3. Create a popular and highly visited website and sell advertising on that site
This is an advanced strategy but one that can generate a large ongoing income stream.
Just imagine having a popular site with tens of thousands of unique visitors every month.
Then imagine what your income could be if you sold advertising on a monthly basis, say one main sponsor at $250 a month, ten top of page banners at $75 a month and fifty smaller 'rest of page' banner ads at $25 a month, for a total of over $2,000 a month from just one site.
Not difficult if you use a rotator system to serve different ads on every visit. With ads at the top and bottom of each page, and maybe below the menu, interspersed in the content, etc.
This might sound a bit of a fantasy but believe me it is not uncommon. I pay a lot of money myself each month for some advertising exactly as described, and also earn money from selling my own ad space on some of my sites!
Put this idea on hold for the moment until you get the first two strategies working for you...
