On today’s episode Russell talks about the best solution to having a business when you don’t have a product. He also tells you how to start making money today in your desired market.
Here are 3 fun things in this episode:
So watch below to see Russell’s big secret on how to start making money in your desired market TODAY!
Hey, hey everybody. Oh man, I hope people show up, it’s been a little while since I’ve done this. Oh thank heavens people are coming. I was a little nervous, I’ve not been faithful. I’ve been slacking on my Periscoping. So I’m coming to repent and hang out with you guys again.
Okay, here’s a lesson for all you guys that I’m learning. Well, two lessons. First off, you shouldn’t be at T&C you should be at Funnel Hacking, so save your travel time and your vacation time for that. That’s number one. And if you haven’t got your tickets yet go to funnelhacking.com. There’s my blatant pitch.
I told this story in my podcast, so if you guys don’t listen to my podcast, go to marketinginyourcar.com and get subscribed, because I think it’s pretty good. I try to make it cool every day for you guys. In there I talked about one of my wrestling hero’s. A guy named Dan Gable. How many of you guys have heard of Dan Gable before? If you’ve heard of Dan Gable, give me a double tap as fast as you can. If you haven’t it makes me want to cry because Dan is like the Michael Jordan of wrestling. He went all through high school, never lost a match, all through college and only lost one match ever, his very last match. Then he went on to the Olympics and nobody scored on him in the Olympics. He was so mad and so driven by that one match that he lost, he wanted to become the best in the world. So what he did is he started training, and I think the Olympics were two or three years after he graduated from college. So he went in there and started going crazy, started training. He would work, on average, 7 hours a day he’d work out. At night he’d go to bed, but he knew the guy he had to beat lived in Russia. The Russian is on the other side of the world and he knew that. He’d lay down in bed and sit there and he knew in the back of his mind that the Russian he had to be was awake training, and it made him so upset that he had to get up and he had to run every single night so he wasn’t sleeping while the Russian was training. Which is intense. And that how I feel, everyone in the industry is going to be at Traffic Conversion and I’m here working on world domination for you guys. It’s going to be awesome.
So what I’m talking about today, is I’m working with a client, and they’ve been struggling because they don’t really have a business yet and they are trying to figure out what to do and how to do it. They want to create a product but they’re not sure about the market they want to be in yet. Kind of some things like that. So I was thinking about it today, while I was talking to them, and thinking, “what’s the best advice and the best solution I can give someone in their situation right now?” So I wanted to kind of think through that because the best thing, obviously, is to create your own products and services. That’s how you’re going to change the world, by creating stuff. Things that are inside your head, things that you can get, that you can serve. That’s the end goal, but sometimes that’s a long way away and its scary and we need money today. So how do we speed up that process?
Some people say, “should I do network marketing, should I do MLM, should I do affiliate marketing, should I do….What should I do to bridge that gap from where I’m at now to where I want to be?”I would say first off, figure out what market you want to be in, because I don’t want you spinning your wheels driving. doing this affiliate thing in the other direction forever. Someday hoping to make money in this thing that you wanted to be, in this world, this marketing you want to be in. because then you’re just working hard running away from where you want to be. Let’s say you know the market you want to be in. you want to be in the weight loss market, or the financial newsletter market, or you want to be in, I don’t know, selling survival gear, or camping gear. Whatever it is, I don’t know, whatever it is for you that you want to do. Pick that market first and know that someday I’m going to create something here, I don’t have anything yet, but how do I start making money today within that market. You may think initially, I’m going to do affiliate marketing and that’ll be awesome. Here’s the problem traditionally with affiliate marketing, let’s say I go to Clickbank and I find an e-book on travel, and it’s like a $27 travel e-book. I’m like, ‘sweet I’m going to sell this travel e-book, I’m going to be rich.”So I go to Facebook and I start paying for ads, to drive people to my travel e-book. The reality that’s probably going to happen, it’s going to cost you $30, $40, $50 in ads to sell one travel e-book at 27 bucks and you get half that in commissions. So what’s the matter with this picture? K, it’s hard you cannot….It’s albatross, the backwards way. You’re spending a dollar and its costing you 80. You guys get what I’m saying right? Its backwards and it doesn’t work very long.
Here’s the tweak, here’s the little secret that I will show you guys that I’ve only shared this once I think, man almost 6 years ago. I did a training live on this, I did a 4 hour training and never talked about it since. So here it is this is for you guys. If I could flip this around so I can sketch it out on a pad of paper.
Alright, here’s my pad of paper, can you all see this? Here is the concept; first off, number one is pick the market. From the market after you pick, I know what market I want to be in. The first thing I want you guys to do, is go out there and become an affiliate or a network….or whatever. Figure out what is a product that this market wants that’s got good margins? That’s going to pay me enough that I can justify spending ads on it. So traditionally I’m going to find a product right here. My goal with this product is going to be kind of expensive, right. But have a good selling system. Hopefully somebody already has a webinar or hopefully something that’s making money. So let’s just say, I’m going to sell a $997 thing, that’s just an idea, it might be $197, it might be $290…whatever that is, something more expensive and this market would love. So that’s my first thing.
Then I want to go back and find 5 other things this market would love, 5 other products or services that are lower price points. This one might be $97, this one might be $200, this one might be free plus shipping or whatever and then something else over here. So you’ve got other products. Now what happened is I have a product line. All the things that this market right here would absolutely love. Then what happens is I’m going to set, before this thing here, I’m going to set up some kind of squeeze page right here, where I’m going to get someone’s name and email address added to my list. Then I can go to Facebook and drive ads into this little squeeze page right here. People come in here and give me their name and email address and then a percentage is going to come over here and hopefully buy this thing right here. And I’ll have an email that goes right here and promotes this thing right here. And then another email, maybe three emails promoting my primary offer. So I’m going to call this P-O for primary offer. P-O. There’s my primary offer, right. And over here these are my secondary offers. That I also like for this market, right. So they come in here, spend some money, they come in here and the first three or four emails go to the primary offer. Then I transition over here and sell the secondary offer. Then I transition here and sell the third offer, the fourth, and the fifth. And ideally, somewhere in here I’m dropping in…let me find a new color for this, all this purple is content. So you’re not just going to be a jerk and sell all the time. So purple I’m going to send emails that talk about content. Make them love me, get some good value.
Now I’ve got this funnel. This is an affiliate funnel. Oh my gosh, you guys. This is so cool, I don’t own any of these products and I have an affiliate funnel. Now I’m going to show you how this works. They come back here and I go to the ads, I buy some ads right, so let’s say I spend money on ads, whatever that is. So I put $1 in ads right. So he comes on here, goes to my squeeze page, percentage come over here, day number one guess what happens? I lose money, I don’t make money, only lose…..what other color do I have?……Black one…oh, pink. Yes! So pink, I lost money here, I did not break even. Day number two in my sequence I did not break even. Day number three in my sequence I did not break even. Oh this is so sad, Russell internet marketing is a scam. No one’s making any money. Then transition over here you get some good content you get some good value. And I’m making some money. I spent $1 and made 25 cents, and I made 75 cents, I made 89 cents, so I’m still not quite breaking even. Then over here I don’t break even, but then guess what happens right here? Boom! On day six of my sequence we’re at break even. The money I spent right here has been recouped. Money is now back, we change to a smiley face, and you’re like, you’re not dumb Russell, you are awesome. Internet marketing is amazing.
Then guess what happens you guys? Everything else you sell over here is just free money, because there’s no more advertising costs. Yeah, the cost you spent here, broke even right here. This is all free money. And guess what’s happening while all this process is happening? Something really, really cool. First off, you’re learning how to drive ads to this market, second off, they’re buying something from you, third off, they’re getting content from you so they like you, and fourth off, most important, this whole time every single person that comes in here is now being added to an email list. And they come to the email list and your email list gets bigger and bigger and bigger and bigger and then somewhere along the line, somewhere you’re going to be like, “Hey, I have a big huge list of people right here who love me. I’m going to go and create my own product now and sell it to them.” Now you transitioned from being an affiliate to being an actual content producer. And that you guys is the model.
So I’m curious, what do you guys think? That’s an affiliate funnel. Everyone gets stuck like, “I don’t know what to sell, or how to sell, or when to sell.” Those sorts of things. Someone said, “Too much work”? Are you kidding me? I don’t have any products, I just wrote six emails, that’s it. It’s pretty easy. It’s cool. I like going high to low because I like to make my money back faster, but I have seen people do the other way where they start lower and then go up, both ways work. I guess what’s more important, is the front-end product that’s going to convert the best, it’s going to get you closest to break even the fastest.
So you guys, when I go into new markets, most of the time I do this first. Because I don’t want to step into a new market the very first day and not have a list at all. I want to make sure I have a list going so that, when I have that list I can go and…when I do this product I have some fuel behind it. I can drive traffic and do some cool things. Someone wants to see the picture again, let me flip it around. Alright, there it is for you guys.
Alright, so the question, a couple of good questions coming through here. If you want to see the replay, I post all of these at marketingquickiesshow.com, so probably by tomorrow this will be…the replay will be live so you can go watch again to see the picture if you missed it. So that’s kind of cool. How do I pick a market? I pick markets that I’m excited by. Because I gotta write emails, I’m gonna talk about it, eventually I’m going to create something. What are you guys passionate about? What fires you up? For me, there’s a lot of stuff that gets me excited. If nothing gets you excited right now….which is weird, some people just don’t get excited. We need to get you excited and passionate about something. You gotta figure out what…I always think like, If I was sitting on Facebook all day and scrolling through. What are the kind of things am I looking for? What blogs do I read? What posts do I read? Who am I following? What books are on your bookshelf over here? Those are probably markets you should be in because you are passionate about it. You’re excited. The big ones are financial, so how to make money, how to invest money, financial is big. Health is big, doesn’t have to be weight loss, could be, one of my friends is making a how to be a skinny guy to become a big ripped guy. Just health in general….eating, all sorts of things. You’ve got, survival is a big market. You’ve got….look at the big markets that are out there. What are people selling? Sell what people are selling. The goals aren’t to create something new. Find what people are selling and create your version of it. That’s how it works.
Anyway, that’s it for the Marketing Quickies Show today. I hope you guys got a couple of ideas. How to make money in a high end product, no one’s buying? People are buying, my friend. They’re buying like crazy. Find a market where people are already buying high ticket things in. Makes it easy. I hope that helps you guys. If you had fun today give me double taps. If you like sketching things out on a notepad, that was kind of fun, should we do that again in the future? If you guys like that, let me know.
This week I’m going to be better. I’m repenting of my laziness. I actually wasn’t lazy, last week was really hard. A lot of things happening. But this week I’m going to do a lot of cool Periscopes. I got some cool stuff to share with you. I got a funnel I want to show you guys behind the scenes I’ve been working on that’s super cool, and a bunch of other really cool things. So that’s the plan. If you don’t have your tickets yet for Funnel Hacking Live, go to funnelhacking.com and get them, they are selling out crazy fast. I don’t want you guys to miss it. If you’re at T&C this week, have fun. Go to the Clickfunnels booth and tell them you love them. We’ve got about 5 or 6 of our guys that are going to be manning the booth hanging out there. So if you’re going to be at Traffic Conversion go tell those guys hi. Other that that you guys, appreciate you and I will see you tomorrow. Have a great night everybody, bye.