- Remember: You can always expand by “going your own way”
- JUST DON’T REINVENT THE WHEEL!
- You can always keep an eye out for new, better-paying offers to test
- The more volume and quality you drive, the more negotiating power you build
- Don’t forget to (respectfully) leverage it!
Lesson Category: Website Monetization
A6.9 Section A6 Q&A
- Questions and answers from the live broadcast chat box
A6.7 Staying committed to testing, particularly early on
As with much of this industry, better testing = more $$$
- The more you test, the more you’ll earn in the long-term
- If you have thin skin and give up easily, you will always make a fraction of your site’s earning potential
- Testing does not cost you money — NOT testing is what costs you money
- Don’t give up just because the first, second, or third thing you try doesn’t work… keep testing!
A6.6 Option #2: Building an email list & longer-term relationship
When building a list is the best option…
- I can’t do a deep-dive on email marketing in this lesson (that’s A7), BUT…
- Any time you could serve the same audience with multiple “layers”, build a list
- Most common for complex purchase decisions & longer “consumer journeys”
- This will put you in the “driver’s seat” more than anything else
- This will protect you from downturns & give you a parachute
- This will allow you to dramatically maximize your LTV
- Don’t FORCE building a list if it’s not working
- But don’t “give up” too quickly either… it may just take more effort or optimization
- The market leader is often the one with the highest LTV, so if you want to reach the “big leagues” — BUILD A LIST
A6.5 Option #1: Going straight for the commission
When should you go straight for the commission?
- It’s often the “leanest” way for early-stage, broad testing
- Sometimes it’s “as good as it gets,” particularly for transactional purchases
- Finally, sometimes it just converts best for visitors late in the purchase cycle
- NOTE: Also works best if you’re lazy… just realize you could making 3x – 5x more
A6.4 Where do you find offers to promote?
Where to find offers to promote + demonstration
- Common physical products: pretty straightforward (Amazon)
- Dropshipping physical products: AliExpress
- Affiliate Offers: OfferVault.com
- Affiliate Offers 2: Searching Google with the right keywords & determination
- Affiliate Offers 3: AffPaying.com for good affiliate networks
- Let’s dive in and look at each
A6.3 What monetization options do I have?
Boiling FIMP Lesson 1.2 down into a bite-sized recap
- The VAST majority of websites are going to monetize their traffic via one of the following:
- Selling physical products
- Selling digital products
- Selling services
- Or advertising
- It should be pretty obvious which is best for your audience, but if not…
- ASK your audience or at least model your funnel/monetization strategy after an established competitor
A6.2 “Doing your own thing” vs. promoting existing products/services
Should you “go your own way?”
- Unless absolutely necessary, piggyback on others’ first
- SOOOO much goes into launching and refining a product, THEN launching and refining the sales funnel
- You can still build your own assets, such as a list (discussed later), but try to stay as “lean” as possible
- IF you see a lot of success with something, THEN consider launching your own
A6.1 When should you start investing energy towards this?
“Don’t worry about monetization until 100-200 visitors/day”
- This is mentioned in the core FIMP training
- BUT… some people want to at least have a “battle plan” earlier
- You’re welcome to dig into this lesson “prematurely” if you find it helpful, but keep your “finite pool” in mind!
- Week 3 of IMP’s Bonus Lessons