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Selling one cheap product won’t make you wealthy online !

Sharing your expertise to potential clients can lead to high level earnings online. However, if you want to achieve your financial freedom anytime soon, I suggest that you start thinking big. By this, I simply mean ditch the idea of just selling $30-ebook or $45 audio products and thinking that your product line starts and finishes there.You must expand your thinking beyond that.

Even those authors with successful ebooks have not retired on the strength of one product alone. This is known as developing a stream of income. If you do this several times over, it is known as multiple streams of income. This is what successful entrepeneurs do online and also offline.

When you look at individuals or even big businesses, you soon see a common action : a product line that starts a a lower price point and finishes at a higher one. Now don’t get me wrong here. If you sold a hundred copies of an ebook at $30 per month that is of course $3000 per month.If that is one sale per day over thirty days then this is a great result in my eyes.

A lot of people don’t see that in a whole year online and maybe spend as much or more trying to find the path to online sucess.However, a word of caution the next time you see an offer that implies that you can make a whole pile of bucks by investing in resale rights if you are an online beginner (also referred to as a newbie).

You see while achieving just one sale a day is a great goal to aim for, it is not as easy as some of these offers state. You have to get visitors to your site or through an affiliate link.Large numbers of visitors. All of these visitors must at least be interested in the product

Then your webpage or some other website you are sending the visitor to has to have a sales conversion process to turn that visitor into a buying customer. Simple in concept, not so simple in practice! Not all visitors are buyers.Weird search results can send a visitor who has no interest in the product or site at all.

Not all visitors are created equal Read that again. Now if you are lucky, maybe one person in 100 visitors will buy the product. If you are new to net commerce you might be shocked reading this.It is a typical result of websites out there though other websites do better. Many don’t even manage that, probably one buyer in 200 visitors. Or less !

So, as I outlined in the theoretical example above, to get a 100 sales of a $30 ebook and gross $3000 , work out how many unique visitors required : 1 sale x 100 x 100 = 10000 visitors
If only 1 in 200 buys then 20000 visitors would be needed to achieve this. A home based business on the internet with this number of visitors would be well thought of just because millions of websites will never achieve it.

Now that one sale a day target seems like a major challenge for many after reading this last paragraph! Of course some form of advertising can bring large numbers of visitors if your website is new and not indexed in the search engines yet. Or you don’t yet have large enough visitor numbers (referred to as traffic by internet marketers).

Advertising on Google with Google adwords is extremely popular and very expensive if you try to compete in a popular niche. For those in the know and with a wealth of experience, there is of course a big return with this form of online marketing. With no experience, you risk a big bill.

If you try to sell a higher priced product, you still need a sales conversion process. The effort required is the same as with a smaller priced product in terms of putting it all together. Yes, a higher price might mean more reluctance to buy initially, but if its a great product that people want and need, they will of course want to get hold of it.

Develop a range of products or services

If there is any real secret with earning online or having some kind of home based business, you simply have to have more than one product or service that you want to promote. So you could have 3 products that are low, medium and higher in price. You move through a process from the low to the higher priced offering.

Not everyone will buy the higher priced product but you maximise the value of each customer if you serve them well over time. Just look at all the coaching programs being offered – and the cost.

The difference in price does not have to be outrageous starting out but these products must be related in some way. Selling 3 unrelated products wont work to the same audience. In other words, your marketing must be specific to one audience, unless you are simultaneously trying to work in more than one area .The area you are targeting is called a niche and is known as niche marketing.

You must narrow down and target a particular kind of person. By that I mean seniors or mothers with newborn babies etc. You can’t sell your product to everyone.You need to discover your ideal potential customer or prospect. Without this information you are guessing. This can mean the difference between earning zero and giving up. Or making some kind of money that will inspire you to keep moving forward.

I will be continuing again in another post on this. You don’t need to be a rocket scientist here but if it was so easy then 94% of online businesses would not be failing. If you wan’t to know more in the meantime, then here is one resource I personally have and is very highly regarded :
The IMC Course