Hello,
Welcome to part 4 of the step by step business creation guide.
Part 1, 2, and 3 can be found in our archives
(http://www.webpromotion-weekly.com)
It's been another busy week for the project, and we're
just about ready to start promoting it and making some money.
First off, the web site is done and you can take a look at it
here:
http://www.MakeMoneyOnline-Now.com
I've also finished writing the first letter of the automated
backend follow-up system, which you can read here:
http://www.MakeMoneyOnline-Now.com/backend.txt
I wanted to finish writing all the backend follow-up letters
last week, but I just didn't get the time. I've decided there
will be three letters initially (one sent per week starting a
few days after a person initially orders), and then after that
one letter every 3-4 weeks or so.
These letters will pitch various backend products to people
who buy the eBook from the site and you will be able to
read them all to see how I do it as soon as they are completed.
Remember, the backend is where you make the real money in
any online business if you're smart, that is!
So now, the only thing left to do is start promoting the
web site and driving in some traffic, and hopefully sales.
I'd like to talk briefly this week about the whole promotion
process.
First off, when promoting any web site I start out by submitting
it to all the major search engines. I only bother with the
main 15 or so search engines because any others simply don't
bring you any traffic. I mean not a single person.
So we need to submit our new site to the search engines and
for this I will use my trusty Submission-Spider software
(http://www.submission-Spider.com) I know I'm biased because
I own the company that develops that software (in fact I'm
the lead programmer that designed it), but it really is the
best tool out there in my opinion.
I could write a whole course on using that software to drive
in traffic, actually I already have and if you haven't picked
up your free copy of it do so today at:
http://www.Submission-Spider.com/bonuscourse.cgi
So using it is the first step to promoting our site.
But it'll take a few weeks to get good and listed at the
search engines because that's just how long it takes to
get a site listed these days.
We'll be taking a more direct role in the site's promotion.
So the next major thing we need to do is draw up a budget
and start allocating funds.
For this product I've decided to start out with around $300
bucks for promotion, advertising, etc. Normally I would
probably start out with more, but I want to show how it can
be done with less - for anyone who doesn't have a large startup
budget.
Plus $300 is a small amount to risk in case this product
is a complete failure! We only have to sell 15 of the eBooks
at $19.99 each to break even.
To compensate for the small advertising startup budget, for the
first couple of months ALL the profits we make will be reinvested
back in and spent on additional advertising and promotion. Then
once we're well established and making good money, a percentage
off all profit will be reinvested and used for ongoing advertising
and promotion, forever.
That way we'll keep earning money forever as opposed to
earning a bunch of money at first then nothing in the
future.
That's the thing about Internet business, it's direct marketing.
If you stop spending money on advertising, you stop making
sales...immediately. The trick is to make sure each sale you
make costs less in advertising than the profit you make.
Or to put it another way, for each dollar you spend on advertising,
you should make at least $1.01 in sales. If you make more
in sales then you spend on advertising, you succeed.
There are cases where you can spend more on advertising than
you earn in sales and still succeed. For instance, if I spend $1
dollar on advertising and that directly results in .50 cents worth
of sales all is not necessarily lost. Remember, we'll make a lot
of money on the backend selling to those customers over and
over again in the future.
But that's getting a little advanced for this project. For
now we'll focus only on making a profit on the front end :)
So how should we spend our $300? I think we should split it
between conventional ezine advertising and pay per click search
engines like overture as well as the pay per click google
ad words program (which I've haven't used yet but am anxious
to test out).
I'd say 50/50 between the ezine advertising and the pay per
click search engines. For $150 we should be able to buy 3,
maybe 4 small advertisements in several decent sized ezines.
I'll spend the rest of the week creating ads and picking which
ezines to advertise in, and setting up our pay per click
accounts. Next week I'll discuss this all in more detail, show
exactly where we spend our money and show you the ads we'll
be running. Hopefully I can also show you the results of
our pay per click campaign.
I've been thinking about selling 6 or 7 distributor licenses
for this product and wonder what you think about that. The
licenses would give a person complete rights to sell this
product themselves and keep all the profit. I don't want
to sell many of these licenses because I don't want to
flood the market like most reseller programs do..
Since I'll be showing you exactly how I sell this product,
it would seem that a distributor would be able to use the
same techniques and rake in a fortune.
Like I said, I'd restrict it to only 6 or 7 individuals,
and the license would cost at least a thousand dollars
(I'd accept monthly payments of $99 per month for 10
months). To earn back the cost of the license a person
would only have to sell 50 copies of the eBook (less
than 2 per day for one month!).
And I'd offer to help the distributors sell at least
that many. I'm just not sure if I want to go this route
with the project. Email me if you are interested in
purchasing a distributor license and if the demand is
there I will consider doing it.
I think it'd be really neat to end this ezine article series
with a couple of issues about how well those 6 or 7
distributors did too! So email me if you're interested
but email me quickly because I'm only going to offer 6 or
7 licenses (if I offer any at all!) and they'll go to those
who email me first. First come first serve.
That's all for this week. See you next Monday!
-John Elder
