Monetize And Make
Money Online Now
There is a process to make money online now from your site called monetization. It’s simply the process of converting something into money. Obviously, to make money online now you must sell something. It can be a service, product, or an opportunity. It’s the products or services you sell and make available that allow you to monetize. But how do you monetize a website? How do you monetize Facebook? How do you monetize online video? First, key to your success, is what you sell must relate to your passion you chose.
Whatever your passion is, whether it be golf, gardening, environmentalist, fundraising for charities, running, helping the less fortunate, anything your heart desires…. can be turned into a business. For example, if you eat, sleep, think about golf all the time, and you want a business that ties in with your passion, you could create a business that is all about golf (really!).
Ways To Monetize Your Business
There are hundreds of thousands of ways to monetize your business. All you need to do is put on your thinking cap, and start researching product lines. Better yet, you can create your own product line (easier than you think and probably a book coming from us on that topic!) so that you can have 100% of the commissions.Here are a few examples for a business person who is passionate about golf and opens a business based on his/her passion: - Services: Lessons, coaching, golf tournaments
- Products: How-to-books, golf clubs, shoes, hats, shirts, gloves, golf balls, tees
- Opportunities: Promoting affiliate or direct sales companies product lines
Although a website or blog can be promoting these items on the front end (directly on your site), we’re going to teach you how to campaign these items on your backend (by campaigning through your autoresponder system).The fact is that your sales will not be nearly as lucrative on your front end, as they will be once you set up your campaign strategy. A series of messages over a course of time with good calls to action will lead you into high conversion sales through your backend. However, you can still make very good money on your front end by positioning the product smartly (good headlines that draw attention, addressing your prospect’s emotional triggers, etc.) and effectively. Once you have decided your passion and purpose, it’s important to start considering the products you will represent. Those products must be profitable for you and we encourage you to consider doing the “math” to ensure you have a product that is worth your time and effort. We use a Product Profitability Assessment to determine how much we earn on each product or service we sell. If the product is not profitable it doesn’t make sense to spend a lot of time positioning it in campaigns to sell.
Calculating Product Profitability
For your primary product (and eventually each of the products you plan to sell) you will do a profitability calculation. To get you started, here’s an example:- Yearly income goal: $30,000 dollars (you determine this number)
- Monthly income goal: $30,000/12 months = $2500 (approx)
- Product #1 profit per sale: $397 (if you work on commission, use the commission number, not the product’s selling price)
- Number of Product #1 I need to sell per month: $397/12 =
Use the formula below to calculate your product profitability. Once you have confidence that the numbers will allow you to build a profitable business, then you can dive into your marketing with confidence and assurance you are making a profitable commission.
If you find that your products are not as profitable as you expected, then now is the time to select a different product line or package. It doesn’t mean you have to change niches or companies. You just have to select different product, package or services to promote.Once you have found the right product, assessed the profitability and know exactly home many products you need to sell per month to reach your income goals, you can move forward with confidence! Let’s discuss the importance of Value next.
- Next --> VALUE To Build Email Lists
- E Mail Marketing Campaign
- Business Sales Training for Ultimate Conversions
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