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Re: How One Man Made A Fortune With Ethnic Newspapers
Michael,
Thanks for asking me to expand on my ideas. [quote=MichaelRoss;15446]Skip, Thanks for revealing your Name & Title technique. Quirky = Different, Out of the ordinary. Quote:
Distribution is the way to go, but it does add "Devil Details" to the package. It is so much easier to put across face to face. But here goes: 1. I would make the kits lighter and more compact by removing the camera. This would also make them cheaper to produce and lower the selling point but increase the profit margin. Yes I know that is one feature that makes it unique but there are other selling points. (today a lot of people have cell phone cameras and I would add an instruction sheet on what to take pictures of) The Insurance form, Step-by-step instructions on what to do in case of an accident, Add a Maintainence/Repair form and set the target market at the New and Used Auto Dealers only. (easy to get info on Dealers and they spend a lot of money on their prospects) 1A I would also make sure most of the items in the package were items that were used up on a regular basis so I can get repeat sales to the same customers. 2. Would offer to make Custom Kits for each dealer by letting them brainstorm with their sales personal on what to add to the kits. Like custom referral cards, Custom Auto air freshners, etc. (all being light weight and inexpensive items to include) 3. Would set up a mail and phone campaign (and/or answering service) to reach these dealers in other areas. Also would set up a web site to promote kits to Auto Dealers. Web site would be only for lead generation (with lots of content to help them increase sales) and sales would be done by phone and/or mail and fax. 4. Once system is proven and workable (would start with my closest big city and then work outwards) I would then set up "affiliates" for each region or area. Doing the above it would bring down the retail price from $5 or $6 dollars to under $2 bucks each. This would allow me to sell large orders instead of Mom and Pop sales. But my costs per kit would also be reduced to under 60 cents each for an increase in profit margin. Now not everyone can do what is needed or has the knowledge to set up such a program or the resources. They would have to learn what is needed and if they did not have the investment they would have to do some "Quick Cash Concepts" to acquire the needed funds. I know I could set up this program (with a lot of work) and once it is set up it will almost run itself with the help of good affiliates. But I think for a newbie or limited sales person this would be a daunting task. With some more thinking on the subject I might be able to reduce the learning curve more but it would still take a person some time to aquire the knowledge needed. This world not be a quick fix to a money problem. Of your 1,000 sales, how many were for MMO and thus circular? I would say about 80 to 85 percent were MMO type products or IM type of products. That is because I used the $7 offer site and it is the area I work in most. Of the 15% that was other markets the total conversions and sales were less but still profitable. When I was testing this I used only Paypal sales type of products, thus limiting myself from other products and services that I believe would be more profitable. But I wanted a program that would self fund its self so there would not be a "Lag period" between start and the first paycheck. And based on your experience with your Name & Title technique, how many Non-MMO Campaigns would a person have to set up to MAL? And let's define that as $30,000 a year. I believe by doing 10 campaigns a day for a few months you could have, lets say 1,000 campaigns and by weeding out the bad and expanding the good campaigns you could have 100 campaigns bringing in a $1 profit a day or more. That would equal $100 per day for a total of $36,000 per year. I don't think it is unreasonable to shoot for 10 campaigns a day that produce a profit of $1 a day. Start with one week and do 50 campaigns then see what is working in what markets and expand on the profitable campaigns and cut the losing campaigns. You can have more then 1 campaign in each market so you can expand on the profitable markets. You will be using keywords that only produce 100 to 500 searches per month. These type of keywords are not being pursued by the experts in PPC so the competition is less and you can get top billing for under 5 cents per click. Also some one that is hunting for an author is most likely to be a rabid fan of that niche that spends money on their passion. To make this work even better I found by revesing the authors name like so (last name first, first name last) the conversions are higher. I guess those people searching that way are more educated and that is the way they learned in school how to search for an author. This method needs more testing then just the tests that I did to see how it works in other markets. But as you find a market that is hot you will have several campaigns set up that will hopefully pay for the long term. Sorry I can not be more reasuring in other markets but my tests have been limited in other markets and that is why I put this out to the public. I hope to get feed back from others that try this method. Best of success, Skip Rosell |
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