| will76 |
07-24-2005 01:18 AM |
How to make a million dollars a year. (long read)
Do you want to know how to make a million dollars a year?
(this is a long read so if you are not serious about making money don't waste your time, if you are already making this kind of money then you probably don't need my adivce. If neither applies to you then feel free to continue.)
Everyone thinks it is a "secret". There is no secret. Just a lot of common sense and two basic princples... Traffic and Sales.
We all know how to generate traffic, some of us better then others, but we all can get traffic to some extent. Even if you are a newbie you can go get a couple hundred hits a day. If you need more traffic you learn new ways to generate it. I don't see this part of the equation giving most people trouble. It's what we do with the traffic that makes all the difference in the world.
How much is your traffic worth? The same traffic sent to Company A might be worth $500, sent to Company B might be worth $1,000, and sent to Company C might be worth $4,000. You need to find the company that makes your traffic worth the most amount of money.
I guess the best way to explain this it to tell you what worked for me. And I don't see why the same thing can't work for you. I started off with my own membership site and I was making about $2,000 a week from a $24.95 membership fee. After getting burned with web800/DRM i diversified to advertising as an affiliate for other companies in addition to my own membership site. I tried a lot of affiliate companies, some did a lot better then others. One that started working the best was Sexkey. They offered a free membership so it was easy to sell. I made (if i remember right) $10 a signup. I switched my traffic that was getting 10 sales a day and making 2K a week with my membership site to sexkey which was now generating about 50 sales a day and making me $3,500 a week from the exact same traffic. I used sexkey for a few months and also continued to try other companies, but nothing compared to Sexkey because of their free signup. Then I found clickcash. Tested them for 24 hours and switched everythign over. At the time i believe they were paying $25+ a signup. I was still getting 50 signups with clickcash when i switched over my traffic but now i was averaging $30+ a signup because of their volume bonus. So i went from making $3,500 a week from 50 sales/day with sexkey to making over $10,000 a week from 50 sales/day with ClickCash. Same traffic sources the whole time, nothing changed except for the company I was sending it to. Once I started making that kind of money I was able to hire people and expand and get into the "pay traffic" game and increase my traffic to the point where I am at now.
I am not trying to spam clickcash. I am just explaining how I did it and how important it is to send your traffic to the company that makes you the most money. How important it is not to settle, but to keep trying out new companies until you know you are making the most you can with your traffic.
Everyone says don't put all your eggs in one basket but is it really wise to make less money advertising other programs?? If you spread it out, you will be making more money with some companies and less money with others. Why not send it all to the one that makes you the most money. For example if you send 1/2 to Company A and you make $1000 week and you send 1/2 to Company B and you make $2,000 a week. Then why not send it all to Company B and make an extra $48,000 a year? Now I wouldn't suggest doing this if you are making a percentage of future sales or rebills. With both of those you make your money over time. If you send all of your traffic to a company and count on rebills you will lose 3+ months of income if that company goes out of business. But, when you deal with pps, the most you will be out is 1 check. If something happens you switch your traffic to another company and your good. Your not risking future money.
From my experences I feel you can make the most money with a free signup w/credit card. The companies that offer this vary from $10 - $40 a free signup depending upon the company. The reason why I like a free signup w/credit card so much is because i can sell it 4x better then a $20 pay signup. Example: You make $50 pps. This means the surfer has to spend $20 for you to make $50. With a free signup, they spend $0 and you make $40. With the same traffic you now get 4x more signups because it is free so you make 4x$40 = $160 with the free signup compared to $50 with the pps from the SAME amount of traffic. Even if you just did 2x the sales you make more money with the free signup. It seems pretty logical, more people will do something for FREE then they will if they have to pay for it. You also need to make sure you market the fact that is free and explain this to your surefers.
The same logic applies if you use rebills. If you make $20 signup plus $20 a rebill. Lets say your average surfer last 3 months, so you will make $60 over time. The only question is whether rebills is better then pps. Neither compete with a free signup . Another option is a % for life deal. This is a lot harder to calculate. You would realy have to do this for a year to see what your average sale made you back over time. Most customers might never spend money again after the intial deposit, and then you get the occsional whale who spends big bucks week after week. But what is the average you make from all of them is the important questiom. You would have to average more then $160 a person over time to make more with a % deal then with the free signup. You will also have to wait a long time to make it. With the free signup you make the money NOW, with the percentage deal you are waiting a long time and hoping for a lot of whales along the way. Just hope that the company never goes out of business either. Always a risk. With rebills you are really putting 3 months income on the line, with a % deal you are putting a lot more then that on the line.
So what do you need to do to make a million dollars year?
The easiest way for me to answer this question is to get 55 free signups a day with ClickCash. FREE signups w/credit card.
If you are making 15 - 20 signups a day right now with pps, you could switch that to free signup w/credit card and you should be able to get about 55 free signups a day from the same traffic. How much does 15 - 20 pay signups make you a day? Does it compare to $2,800? if you make $2,800 a day that is a million a year.
If you are only getting 5 pay signups a day for example, try sending that traffic to a free signup program and make a lot more money, use that extra money to expand your buisiness like i did. You will get more signups with the extra cash being put back in.
I do think you should take a small amount of your traffic and send to a program that makes you rebill money. I mentioned earlier that it wasn't a big deal to "put all your eggs" in one basket in regards to something happeing to the company you were advertising. Being that it was a pps (free signup) you are never risking your money like you do with rebill income. But, you need to protect yourself if something happens to you. Since the majority of your free signup traffic will be dependent upon you working if something happens to you then your income will decrease quickly. So because of this I think it is good to take 20% or so of your traffic and use it for rebill income. If you ever end up in the hospitol for example you know you have a good solid income coming in for 3 months from the rebills which will float you till you can get back on your feet.
If you are running your own membership site and don't have a couple hundred or more GOOD affiliates then you really need to think about doing something else. If you are generating most of the sales yourself to your own membership site, not only are you selling yourself short on the pps vs. free signup i explain above, but in addition to that you are spending countless hours on site updates, customer service, billing questions, etc.. that you would not have as an affiliate. You are either spending a decent amount on content or your are the content which in that case you are spending more time providing the content. All of this time could be spent making money... advertising. Affiliates are great, let them do the work, and you split the money. But if you dont have affiliates then you really need to rethink your own membership site. But thats whole other thread for another day.
Ultimatly, if you are satisfied what you are making then keep doing it! People will always throw back to me, "well if you pushed my company you would make even more". Let's say that is true, or what IF another company came along and offered me $100 a free signup, I would still stick with ClickCash. I am satisfied with the company, the support, and I know my check will be there every week. If you are not satisfied with what you are making then try something new and see what happens.
I hope my advice helps some people. And if you need help converting your advertisments from pps to free signups let me know. If you want my opinion on the best free signup site, i think that is obvious :)
If you have any questions feel free to contact me: ICQ 86364801
|
