The newest monthly update for my internet marketing strategy site is up, and the topic is on product creation.
Some of you will be thinking “Heck no, I’m happy as an affiliate, I don’t want to have a product and deal with bad customers and worst yet, customer service!”
Hold up a second. True, there’s more effort involved in planning, research, creating and marketing your own product. The upside is that you’re building an asset that you can continue to benefit from for a long time to come, especially if you treat your customers well and implement emailing strategies effectively.
While I know some marketers have some “churn and burn” reports, videos and other products that pre-sell leads to a some shady rebills which subsequently burns the lead shortly, I’ve found that the customers on some of my lists going back to 2006, have continued to purchase the products and services I’ve recommended over the years.
On some of my lists, the average value per customer is in the $400-600 range (from a combination of affiliate products and courses/services that I own). The traffic source has primarily been through social media, forum and blog traffic, so the lead acquisition cost has been pretty low.
One of the reasons I’ve been moving increasingly into paid traffic (PPC, PPV, media buys) since late 2008, has been increasing the number of leads into the sales funnel. Moving from a situation of:
[modest leads] x [high value per lead] to [high volume of leads] x [high value per lead] is one of the strategies I’m focusing on this year (so you might see less frequent posts on here].
If you’d like to check out the update on product creation, be sure to visit the: Internet Marketing Cookbook. (the content will be available till end March, after which it’ll be replaced with fresh content]