Today I want to talk with you about how you can make 100% profits from the products you sell – instead of only getting paid a percentage.
It's a business model that every online entrepreneur should work toward.
Most of us start our business building adventure by marketing affiliate products. It's perhaps the easiest way to get started because the product and all the marketing materials (graphics, sales pages, squeeze pages, etc.) are already created. The sales funnel is already published online. And the payment collection and product delivery processes are in place.
All you have to do as an affiliate marketer is advertise the product using the materials provided, and you get a commission for each sale. The commission ranges from around 3% (for physical products) to normally 50%, and sometimes up to 70% (for digital products).
You know the definition of easy don't you? – That's something you can do…
Anybody can market affiliate products.
What I'm talking about here though, is product creation. When you own the product, and sell it yourself, you keep the entire payment. And the beauty of this model is that you can market that product, and collect those profits for years to come. (Especially if your product is evergreen)
You do the work one time, and get paid over and over.
That pretty much puts you in the driver's seat my friend.
The quickest way to create your own product is with digital materials. These consist of books, training courses, marketing technique guides, and software – just to mention a few.
And you don't really have to create the product by yourself. You can hire all of this work done for you, and call it your product. Most marketers who sell software products actually do outsource the work, because it takes a lot of time to get that right if you don't have a lot of experience at coding.
One benefit you enjoy as a product owner is that you are perceived by others as a guru in your niche. But what I think is the main benefit is that nobody can tell you how to market your product. You decide everything about it.
Another benefit is that you can have a huge team of affiliates marketing your product. You decide what marketing rights your affiliates have (what they charge, what percentage of commissions you pay them, and the marketing techniques they can use).
A large team of affiliates, sending your marketing materials to their lists means huge amounts of visitors to your site, and when those visitors fill out your opt-in form your list grows.
And adding those names to your list represents growing profits for you when you promote other products to them in the future.
You also have the option of offering your product as a gift to get even more people to subscribe to your list. This is done in a number of ways. Join giveaway events, donate your product to other marketers when they have launches for their own products, partner with other marketers who have subject related products that complement yours to ramp up both of your product's reach into the marketplace.
Now the thing for you to do is get started creating a product of your own.
One way to do that is to get hold of a high quality private label rights (PLR) product, and turn it into a product that you own. (Always make sure your offered products are high quality whether you own them or not.)
PLR products are those that the creators give you the right to change, improve on in some way, and transform into products of greater value than they already are. You basically take the information, and re-create it. Give it a new slant – something from a fresh viewpoint.
Automated Wealth Network (AWN) offers business training from basic methods all the way to college level skills including product creation. You can find out more about AWN on my website at:
http://discoverhowtoworkfromhome.biz/
You can create your product from scratch if you like, or make an outline of what you want in the product, and take it to an outsourcing site such as freelancer or fiverr, and get the work done for you.
If you decide to outsource, research the different providers and make sure you'll get a good quality product. The sites I mention here have some very good vendors, but remember that you get what you pay for.
Speaking of making your product on your own, or creating an outline to get it outsourced, I'll talk about getting ideas to fuel the product creation process in my next article.
I know you'll find that interesting.
