Back in June I wrote an article about product pricing and put forward the idea that it was probably a good time to reconsider how we priced internet marketing products.
One thing I got wrong in that was that I said affiliates probably wouldn’t want to promote a product that was selling at $8 – $12 I was wrong , some affiliates have woken up to the fact that low cost products can provide good value to their subscribers while at the same time earning them a living.
After all we are Internet marketers and Internet marketing is how we put food on the table.
I was doing some research the other day and discovered that there are several marketers making over $30,000 a month just selling low cost wso’s These marketers are being very selective in what they promote.
The criteria is generally,
Quality: Demonstrated by purchasing the product or asking for a review copy and feedback by genuine buyers
Value: generally selling below $17
Conversion Rate: They look for good converting products 10% is probably the absolute minimum.
Earnings: They look at $1 + per visitor (many good wso’s are over $1.70 per visitor)
Low Refund Rate: It goes without saying avoid products with high refund rates.
For me apart from Quality (which goes without saying as we are building a long term business) the important figure is the Conversion rate , this tells you lots about the product, a high conversion rate tells you the sales page is good, the offer is attractive and above all buyers are attracted to it.
In practical terms this means that if a marketer sends 1000 people to product converting at 15% 150 will buy, if the earning per visitor is $1.50 the income will be $1500
Which is the same as:
If the average price is $10 the 150 sales will earn $1500
Now consider sending the same 1000 people to a clickbank page that converts at a rate of 2% (which is good) you’d need to earn $75 commission to equal the wso offer.
Another major point is that many customers will appreciate that you are finding them low cost quality products instead of promoting the usual rubbish that everyone else is promoting at inflated prices.
Another reason why so many marketers are looking at wso’s for their income is that there is a lot less competition. If there is a major launch you’ll find lots of people emailing you trying to get you to buy via their link. With many WSO’s you will probably find that you are possibly the only one emailing out especially if you pick up an older WSO that wasn’t well promoted.
Believe me there are some superb products being sold as WSO’s the reputation for all wso’s being rubbish is no longer deserved and more and more big name marketers are testing the waters there and providing incredible value.
So how does this relate to you? Simple, you can earn a very good income by following a few very simple steps. put this in place today and I guarantee that you’ll be earning money by the end of November, done right you really don’t need a big list.
Find a topic in IM that interests you, SEO, Adsense, offline marketing, etc
1. Get an aweber account
2. Start to build a list around that niche, continue building.
3. Write Interesting emails and schedule them to go out regularly twice a week maybe monday & wednesday or wednesday and friday etc. Remember as a friend of mine Mark Pocock said today when talking about emails …stories sell.
4. Find a good Quality WSO every week and promote it in the 2nd email. The first email should give good info and be entertaining…leave them waiting for and wanting your next email.
Thats it, do it right and the world is your oyster… seriously you could soon be one of the marketers earning $30,000 a month. Even if it’s “only” $3000 a month isn’t that better than a poke in the eye with a pointy stick?
One final tip… too many people get on lists then leave because they are being marketed to… be professional, those emails are your classroom. Learn from them, if it takes and hour to read them all every day do it… learn from it, take what you like and use it, what you don’t like avoid . Build a swipe file of the best bits and the best headlines.
Some Good Resources
How To segment an Aweber List Paul Nicholls covers how to segment a list in Aweber on his blog …very important information if you want to increase sales.
WSO SuperAffiliate In-depth WSO about how to become a WSO super affiliate. I bought this the other day and watched it through in 1 settings.. lots of gems in this one. There are 1 or 2 things i don’t agree with but overall it’s a very good course.
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