Due to the economic recession, number of employment has been rising tremendously month to month, and many have yet to find a financial solution to pay their bills, mortgages and debts. Consequently, many have switched their focus on setting up an online home based business – which it requires extremely low overhead cost. You might have noticed that some people who left their day jobs ended up making thousands of dollars per month, and you’re inspired and perplex on how they could earn such huge amount of money within a few months time.You might be blaming yourself that you’re not smart enough.In fact, you don’t have to put the blame on yourself since most people have made tons of money by doing the right things at the right time. It might sound easy but it’s actually hard to do. Therefore, you have to ask yourself – what are those things that I need to do at this critical moment?Here are some effective methods that most successful people use and help them earn lucrative profits from their profitable online home based business:1. Finding which ‘system’ that fits you mostIn the internet business industry, there many business models that can be applied in your online home-based business. The most common ones are affiliate marketing and PPC publishing. In fact, both are interrelated between each other, but it is much easier to understand them by separating them into two distinctive models.Affiliate marketing involves promoting other people’s products on your website and you’ll earn commissions once your website visitors purchase the products. Normally, you can look for products to promote based on your niche via affiliate networks – i.e. Commission Junction (CJ), Click Bank (CB) and Shareasale.On the other hand, PPC publishing means that you can earn money from putting ads on your website. This is much suitable for content-rich websites – i.e. blogs, forums and internet community sites. You can only earn money when your website visitors click on your ads.2. Increase traffic to your website – the main survival of your websiteOnce you have chosen the right system for your online home based business, it’s important to promote your website so that it is accessible for all potential website visitors. Thus, you have to drive targeted traffic to your website – is via article marketing.Therefore, you need to learn the basics of Search Engine Optimization (SEO) and article writing which are actively used in boosting your website rankings in Search Engine Results Page (SERP). It involves keyword and niche research – to include specific keywords in your articles. Besides creating contents for websites, you need to create some articles and submit them to article directories.The most well-known article directory is EzineArticles.com – which has a large base of high-quality articles, and also an ideal way of driving targeted traffic to your website from the link that you embedded at the bottom of your published articles a.k.a. Author Resource Box. In short, here’s a simple equation of driving high-quality targeted traffic via article marketing:Good quality EzineArticles = Increase Click-Through-Rate (CTR) of the embedded links = More targeted traffic to your websiteWhen you have more visits to your website – it has the potential of increasing your product sales, or total number of clicks on your ads.3. Finding a “mentor”In most common perception, working on your own online home based business can be a “lonely” business. In fact, this perception is not entirely true as you can find reliable “mentors” on internet forum like Warriorforum.com. Be specific on your needs as well as be selective on certain forum threads. For instance, look for journal-like threads about one’s personal journey to achieve certain of their goals. Follow such threads and interact with the forum thread starters – by asking the right questions, when possible. Certainly, knowing what they are doing is not enough – what matters most is ACTION!4. Stay focus and always have a positive mindNormally, you won’t get immediate satisfying results when you’ve just started your online home based business. At the beginning, you have to be extremely productive at work – i.e. avoid spending too much time checking emails in the morning, as well as reading too much free report about making tons of money online and spending less time on social networking sites like Facebook, Twitter and etc. You have to get important things done as you have to handle most of the work on your own. You need to have a positive mind to make your online home based business into a brick-and-mortar business. Here’s a great book about increasing your productivity at work entitled “Getting Things Done” by David Allen.5. Leverage your home based businessWhen you’re starting to earn some earnings from your internet business – you can use some of your money to hire some experienced freelancers from job seeking forums. Outsourcing is not a good excuse to avoid doing your work – it is mainly for assigning time-consuming tasks to others so that you can focus on important stuff. If you’re in a tight budget, you can outsource your tasks to freelancers from other countries – i.e. South East Asia countries including Philippines, Malaysia and Singapore, as long as they can communicate in English and perform your tasks based on your requirements.The bottom line is that you have to be persistence and believe in what you’re currently doing, and always have the willingness to learn from your mistakes. From that, you can definitely earn $10,000 per month easily!
A Simple Product Creation and Product Launching Formula
If you tried to think of people involved in product creation, who would come to mind? You may think of Edison, Franklin, or maybe Henry Ford. Would you ever think of yourself as someone who can create a quality product? Product creation is actually relatively easy and product launching is not that tough either! If you follow a few easy to understand steps, you could be starting the product creation and product launching process sooner than you think.
The first step in creating your information product is to know and understand your market. This can be very time-consuming, especially if you are unsure of what to do or where to look to know your market. Studying your niche market and understanding the buzz words and buying patterns can ease the process dramatically. Personally, I would recommend networking with someone who has had success in the niche market you are considering and learn from their results. If they are into product creation and not very business savvy expect some hesitation. If they only sell products and have nothing to do with product launching or product creation you may your first affiliate (sales person)! Something else you can use to find hot trends is with the Google Trends tool.
The second step is the product creation process. Take your niche market and brainstorm ideas and topics relating to it. There are a lot of product launching contests going on recently relating to a newly created internet marketing tool. There are so many aspects to the mentioned niche that literally, and unfortunately, anything can be considered an Internet Marketing tool. The reason that anyone can basically create an Internet Marketing tool is because of something called Private Label Rights products.
What I use private label rights products for, and highly recommend them in this specific manner, is to cure writer’s block especially when it is lingering. Many people base their entire product creation and product launching on a private label rights product. This is where you can start to shine and build a strong brand for yourself. If you set goals for yourself, short-term goals to be exact, you can see your product creation come into being much faster and there is a good chance with less revision needed. If you keep hitting time restraint road blocks; however there is nothing wrong with a slow and steady approach, you can consider outsourcing portions of your project. Outsourcing can be an extremely huge benefit or just as great of a disaster.
You can find someone to outsource work to at a freelance site such as Guru.com or eLance.com. When reviewing proposals it is almost mandatory you perform a background check on them as you are in essence hiring them. Doing a background check on freelancers is as easy as asking for samples of their work and reviewing feedback on the freelance site from previous customers. Depending on the size and requirements of your project this can add up to a decent sized investment, so caution is very important. One tip I always recommend to people looking to hire an individual is to ask them what they can provide you that no one else can. This simple question gives them a chance to “toot their own horn” and acknowledge where they feel most competent as far as their skill set.
The final portion of the product creation and product launching formula is the launch. This can literally make or break the effort, time, and maybe (if you invested) money you put in to your project. There are numerous aspects to product launching and although their relevance is debated in terms to their effect, experts agree all must be followed. The person in your field who you asked for product advice from can help you substantially if you have kept in touch. If not, the first thing you need to do is to create a visually appealing website with flawless design work.
I also mentioned outsourcing before, this is one aspect of product launching I have little strength in and I always outsource this portion. The website does not have to be large however the content (ad copy in Internet Marketing) must be stellar and as perfect as possible. This is where advertising knowledge or experience is beneficial. When the site is set up you now put a lead capture form on your website.
I put two lead capture pages on all products I create on the internet and is one of the best methods of getting a solid start when you are in the product launching stage. When you gain information from a prospect or someone looking to get paid for referring sales you are able to provide them updates or specials. Many people abuse their prospect or affiliate lists by in turn emailing them with a new product daily and I find the recommendations to be totally unrelated to their original need, problem, or interest.
Another stage in the product launching stage is creating a free report or demo version of your product to entice the product to sign up to your email list. Using proper follow up with this can help generate numerous sales for you. One thing you need to ensure is that your free product completely relates to your main product that you are looking to sell.
You are now ready to advertise your product launching to customers as well as the opportunity to sell for affiliates. This is the single aspect that many product creations and launches fail on. It is actually not entirely difficult. One thing you can do is write articles (and a good amount of them) on topics relating to your product. I am a huge advocate of giving a solution in forums. When you join a forum you are normally offered the opportunity to create a signature. In your signature, you should enter the link to your opt-in or lead capture page. When you respond to posts, you are advertising your opportunity.
It is not impossible to create a product and it does not have to take a long time. You need to setup a plan and stick to it. If you get stuck, look at similar and successful products to your own and try and see how they did it. When you sit down and brainstorm you will be surprised with what you can imagine.
Effective Marketing Strategies in Product Creation
Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.
If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.
Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.
For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.
No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.
There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.