Unknown Best Seller LEAD MAGNET
If you want to make big sales online you need to have at least one best selling product that constantly sells well for you. The ideal situation would of course be to have several best selling products… but that part comes later. First you have to start with one product, and that’s what we’ll be looking at in this report. Once you have that, it’s a case of repeating that success in the future and building your business from there.
So let’s go through this step by step and see how it can be done.
WHAT TYPE OF PRODUCT SHOULD YOU SELL?
We’re not talking about the specific product here; we’re talking about what form the product takes. This is important because it can have a real effect on how you handle those sales once they start coming in.
So let’s see the two basic types of product you have to choose from:
Tangible means something that you can touch, so for our purposes this would be anything that would need to be sent through the mail. From DVDs to gadgets, anything that you can put into a Jiffy bag and mail to your customer is a tangible product.
The advantage with these is that you have an actual physical product to sell, but the disadvantage is that there are a lot more risks to take with them. Supposing you take in some stock of a product that isn’t selling at the moment in the hope of turning it into a best seller… and it doesn’t sell? You’re left with plenty of stock taking up space, and you’ve lost money as a result.
There is a better way if you want to go the tangible goods route – and in fact there are two options for you here. Firstly you could become an affiliate marketer and refer other people to tangible products sold by a third party. This means you refer the sale, you get a percentage of that sale for your efforts, and the third party that stocks the product takes care of the physical process of sending it out to the customer.
Your second option is to get into dropshipping. This is a similar process but the difference is normally that while the company processes the order and sends it to the customer, it is often sent so it looks as if it came directly from you.
The other difference is that the customer places the order with you, and you then place the order – having taken your commission off first – with the customer’s information added in as the delivery details.
This obviously involves more work but you will get your commission up front and therefore you won’t need to wait until you reach the commission payout level that is set by the site you are using for your affiliate products.
Intangible means something that cannot be touched. For our purposes here that points directly to products which need to be downloaded. This can include reports, newsletters, eBooks and even some items of software or applications.
Now the advantages of these are very clear – first of all they are all based on information, so if you want to create your own product from scratch it is far easier to do it with an intangible and downloadable product than it is to do it any other way.
Secondly you will have the advantage of offering the product instantly. The customer gets access to their copy the second they have paid for it; no waiting for a few days to receive it in the mail. This is a big selling feature and worth bearing in mind.
Thirdly there is a lot less risk in taking on (or creating) an intangible product because you don’t have to shell out any cash to stock it in the first place. If it doesn’t sell you don’t lose anything and you aren’t left with that huge and worrying pile of stock.
A lot of people start off by promoting other people’s downloadable products as affiliates, and then branch off into creating their own once they have explored the market a bit and have more knowledge of how to do it.
So those are your options. Let’s now look at the next step.
IDENTIFYING AN UNKNOWN PRODUCT
This begs one big question – how do you find something that no one knows about?
It’s a worthy question, but if you know how to answer it you’ll be much more likely to find and promote the products that no one else has found yet.
Now for a product to be unknown, that clearly points to the fact that it exists already, so it won’t include anything you come up with yourself. We will touch on this later on though so if you do have ideas you’ll get to know more in a while.
The only completely unknown product that you will ever come across is one that is brand new and about to launch. It IS possible to find out about these if you move in the right circles though, and the best way to become a promoter of this type of product is to subscribe to plenty of email newsletters by some of the biggest names in internet marketing. These people know the power of getting an army of affiliates to help them launch their new products for them, so you can get in on the ground floor on plenty of occasions here.
The other type of unknown product is one that has been around for a while and just not taken off. When you think about a best seller, you will think of something that EVERYONE knows about, whether they have one or not. Think of JK Rowling’s Harry Potter books, for example, or the DVD of “Titanic”, or any one of hundreds of other products. Even if you don’t have it yourself you will know people who do.
What we’re trying to do here is to turn a product that hasn’t made many sales into one that everyone has heard of. That’s how you get a best seller – and the cash that goes with it.
Where to look
We’ve already mentioned the fact that hooking up with well known internet marketers will result in being one of the first to promote new products. But if affiliate marketing is your thing then you should also join Internet sites such as JVZoo.com, ClickBank and Commission Junction – they’re well known and highly respected sites which give you access to thousands and thousands of products to promote. They are free to join, but it’s also worth searching on Google to find other affiliate programs in your own country.
What you need to find is something that you know isn’t being widely promoted already by other people. That’s why these sites are ideal for searching – because they have so many products that you can easily go off the beaten track to find just what you want.
Making sure you pick the right product
This skill will come with experience and knowledge, but your basic task here is to find something that there is a market for. Just because a product has been out for a while and hasn’t sold well, that doesn’t mean it’s a bad product. It could just be that the people selling it haven’t managed to connect with their target market very well – and if you can be an affiliate for that product you could be the one to turn things around.
IDENTIFYING THE RIGHT AUDIENCE
This should be done in conjunction with picking the right product. You can start at either end of the process in actual fact – you might find a particular type of product that you think could be a good seller in this way, or you might find a particular niche or group of people that clearly have money to spend, and then go off in search of a product that will meet their needs.
If you find a product you think will be good, you will then need to identify the potential audience for that product and ask yourself some questions to figure out whether it’s a good bet to start promoting or not. Here are the kinds of things you need to be asking yourself:
- Does this audience represent a good niche market that can easily be reached online?
- Does this audience have money to spend?
- Is the product you are thinking of promoting significantly different from anything else they have seen?
- Does the product fit into the type of price they might pay?
These questions will help you to figure out whether you have chosen a good product for starters. For example, you may have found a product that is priced at $100, and is aimed at young mothers with kids. Now this could be a really good product that works and has been clearly thought out.
But you need to think about whether young mums have that kind of money to spend. Is that why this product hasn’t become a best seller before now? It could well be.
How many people could you sell this to?
It’s important to think about how big the niche is that you are thinking of targeting. Niche markets are potential money makers, but you need to make sure you don’t target a niche that is so small you will exhaust it in no time.
This is a fine balance that you need to get right when marketing online, because targeting too big an audience will mean that appealing to everyone is virtually impossible, whereas going too far in the other direction will mean you have too few people to try and find.
Here’s an example – targeting people who buy groceries would include virtually everyone on the planet. Targeting people who buy a specific brand of washing powder on a Thursday every week would target too few. But targeting people who are looking for an eco-friendly product to wash their clothes with might just achieve the right balance.
Remember that while you need to do your research to make sure you stand the best chance of turning an unknown product into a best seller, you also have to have a little faith and simply try it out and see what happens once you reach a certain stage in your research.