I know they sound like made-up numbers, and if you’d have told me six years ago that I would be generating millions of pounds each year from my business, I would have been delighted, but sceptical.
Yet that’s exactly what happened last year. And right now I want to tell you exactly how I did it...
You know me as publisher of What Really Makes Money. This is the first newsletter I published and continues to be my favourite! Since I started my business six years ago I have branched out in other areas. I have four other newsletters and a whole bunch of back-end products.
Chances are you also read my regular eletter. And it’s eletters that, in my opinion, are the greatest and most potentially lucrative element of any publishing business.
I learned from the master...
I was lucky enough to learn about eletters from Bill Bonner – the owner of Agora Inc – a huge international financial publishing empire. Bill was the first person to turn free eletters into a hugely profitable business model.
Without any conflict of interest (I am still on very good terms with Bill and my previous company), I adapted the model for my own business. The basic idea is simple and can be summed up in five steps:
1. Identify a proven niche market – this could be financial trading, gambling, business opportunities, trout fishing, weight loss, muscle building, playing guitar...
2. Create an information product to sell to that market and solve a problem – this would normally be hard copy newsletters, books, manuals and courses as well as DVD and CD sets.
3. Generate qualified buyers through direct mail campaigns – names generated by direct mail tend to be the best as you are usually renting lists of previous buyers of related products.
4. Once they have bought from you, offer to send your customers a free eletter with high quality editorial content related to the core market.
5. Occasionally recommend other related high quality products and take a commission on each sale.
So what’s the problem here? Most people can figure out Stage 1 no problem. With a bit of time spent researching online, it’s easy to identify the hot markets. (Just check out the tips from Avril in the ClickBank article earlier in this issue.)
Step 2 is tricky, but still achievable. These days you could buy resale rights for any number of products or go to elance.com and get someone else to create them.
No, most people fail at stage 3. Building a responsive list can be costly. While direct mail continues to bring in the best names, it is also one of the most expensive marketing channels – around £600 per thousand names on average. And when you consider a mailing has to be at least 10,000 to be viable, we’re talking about £6,000 up front investment and out of that you might be lucky to generate 200 names. It does work, but by crikey you’ve got to know what you’re doing!
I knew that most people could never copy what I was doing. There are far too many barriers to entry. Apart from the significant costs of doing direct mail, it can take years to generate the size of lists that can make it worthwhile.
When I first started eletter publishing in 2000 we had to build lists of 20,000–50,000 or more to see decent returns.
Over the years I have refined that by being extremely selective about those who I allow onto the lists – 95% of the people who read my eletters are high qualified names – people who have not only expressed an interest in the various subjects but (and this is crucial) have made a financial commitment to buying products in those areas before.
So I’ve been able to reduce the average size of lists closer to 10,000 or less. Not bad, but that’s still some commitment for anyone starting out. However, someone I know very well and trust completely has figured out a backdoor route that does away with expensive marketing. Jon Street of Internet Income Detective has slashed that number to less than 1,000 – and now finds ways of generating those names at virtually zero cost.
At last, you could make £5,000 or even £50,000 in one day following a simple breakthrough email marketing plan.
OK, so you may not be bringing in millions, but what about making £3,000–£5,000 in a single day within the next 6 weeks... or £8,000–£10,000 paydays within a few months... and what about bringing in £25,000–£50,000 per month?
If you’re sick of trying and failing to make money online, then you must check out the information enclosed with this issue. Alternatively, go to www.canonburypublishing.com/30kday. It reveals – for the first time – how Jon Street can help you to avoid the obstacles that stop you from making a great income online. His new £30K Day eMarketing Formula programme is so good I am co-publishing and underwriting the 45-day guarantee. Please do take a look and if you have any questions email me directly on nicklaight@yahoo.co.uk.