Are you searching for the ultimate product to make you millions on the internet?
Are you looking for a continuing, automatic, income from your laptop?
A “residual income program” might be just the answer.
What exactly is “residual income”?
Let’s compare it to a “normal” ‘bricks and mortar’ business.
Say you work at a car dealership, selling brand new cars. Whenever you sell a car you receive a commission from your employer, right?
So far so good. But you can’t leave it there, can you? To continue earning a living you need sell another car, and another, and so on.
Let’s take this further…
The happy owner of the brand new car that you sold needs to get insurance cover for it, yes? The insurance broker sells him the cover and gets a commission, like you did selling the car. So what’s the point I’m trying to make?
You see, there’s a difference between you, the car salesman, and the insurance broker. It is unlikely that you will ever sell another car to the same customer again. He will never get you another commission.
What about the insurance broker?
When the insurance expires and the customer renews it, the broker will get another commission! That’s better, isn’t it? He only makes one sale but gets commission ‘forever’!
This is what is called a “residual income”.
To continue our little story…
The insurance broker can now focus on making another sale which will give another “residual income”, year after year.
In contrast, the car salesman will have to sell another vehicle in order to receive another commission check.
Which would you prefer?
Before you haste to become an insurance broker, let’s see how we can apply this principle to internet marketing.
Let’s assume that you already have a product on the market. It retails for $50. The cost for you is $25 for each item. That leaves you a $25 profit. Cool.
Now, Imagine your product had a “residual income” of $50 a month. It would still cost you the same $25 to market the product and to make one sale. BUT…
In 12 months, the total income would be $600, of which $575 is pure profit. All from just from one sale!
The more sales you make the more the profits would be adding up. Think: If you made one sale every day for 3 months, your monthly “residual income” could be over $3750!
Even if you the quit advertising, your regular monthly income could become quite phenomenal!
The question is: How do I find a good residual income program?
There are some options:
1. Create a newsletter. Write on your area of expertise and get paying subscribers to your newsletter.
2. Web hosting. This is another excellent idea, starting a web hosting company and collecting a regular monthly fee from your customers.
But perhaps you don’t think you have what it takes to create a newsletter and keep writing fresh content weekly, or monthly.
Or perhaps you feel that you are not qualified enough to write a good sales copy (sales letter) to sell the product or service.
Or, you know for sure you haven’t got the technical know-how required to run a web hosting business.
In that case what you might be looking for is an “affiliate program”. This means you don’t have to create your own product because you get a commission selling somebody else’s existing product. Often they even provide all the necessary marketing materials.
The only thing you have to do is some promotion of their product, send visitors to their site through your own personal link with your affiliate ID. And Voila! You get a share of the profits.
Can it get any easier?
There is literally hundreds of this kind of affiliate programs on the internet. Look around, see what has a good “conversion rate”, or, simply put, selling well.
Just remember these few things:
The product you choose to promote should provide value for money to your customers. They only buy if they feel that they will receive something of value to them.
The key to your success is providing people what they want, not stubbornly trying to sell something that only you feel passionate about.
Also, if the product is inferior in some way, if it proves to be of little, or no value your customer, either they will not buy in the first place, or if they do, they will cancel their monthly subscription and you will lose out on the profits.
To find out the true value and quality of a product you have to try, or use, it yourself. If you try to sell something that you don’t believe in yourself, the customers will often sense it and won’t buy from you.
If you don’t believe your own product then who will?
There are also some affiliate programs that pay on several levels. Similar to MLM (Multi-Level Marketing) you may get paid on sales made by people you have referred to the affiliate program.
Got any ideas yet?
Type in “residual income affiliate programs” into Google and see what shows up. Find one that appeals to you.
There you go – you have a product!
Next step: Promotion. How should you do that?
Let’s go through the basics of the techniques that have proven to work for various products sold online.
* PPC (Pay -per-Click). This may possibly be the quickest way to get your product on the screens of those who are looking for it. All the major search engines provide this service in some form.
Visit the advertising section of their site and see what options they offer. You may have to use the “trial-and-error” method to find the best keywords, bid amounts, and ad copy that will lead to most sales.
* E-zines. On the net you can find thousands of these electronic publications. Every conceivable niche will most likely have dozens. Look for one that accepts adverts (or why not start your own!) Find one where your product would appeal to its readers.
* Your own Opt-in Mailing List. If you have an already established business and have a list of customers who have opted to receive promotional emails from you, send your offer to these. If they’ve already purchased from you once then offering them something similar will often move them to buy from you again.
* Other people’s Opt-in Mailing List. For a cut of the commission some list owners would accept adverts. A word of caution though: Never spam (send unsolicited email) or bulk email those who have not opted to receive promotional emails, that are not on the list.
Not only could you get into trouble with the Law, but it would also alienate your potential customers.
* Write an article (such as this one). Don’t write as a direct sales letter – make it informative. You can put a “tag line” at the end of the article with a link to your web site. There loads of article directories that you can submit your article to. Many web publishers are also constantly looking for fresh content to use.
They will publish your article on their site, which means you’ll have a link on their site that sends traffic to your site – all for free! It’s a win-win situation for everyone involved, and like I said – it won’t cost you a penny!
You could even hire a “ghost writer” to do the writing for you if you feel you are not up to the task yourself.
I trust that you by now have some ideas on what kind of products you’d like to promote, and how to go about it. All that’s left now is to go out and do it!
Find the right product, and you may well be on the way to becoming the next Laptop Millionaire!