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- May 1, 2011
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Hi,
I have two ideas - both related to e-mail marketing, but I'm not sure which one I should pursue.
My first idea is to create my own product (preferably e-book) from scratch. Here's how I would go about it:
1. Find a problem/niche.
2. Create a simple sales page just to test if anyone is interested and send some paid traffic (500 visitors or so) with Facebook or another ad network. Talk with people who clicked "buy now" (if there are any) and ask them what specific information the product should contain.
3. Product creation - and that's my main problem with this idea. If I want to offer a really incredible product I'll have to outsource product creation (I'm not knowledgeable enough about any topic to create a really killer product, I'm more like a jack of all trades). I have limited budget (so far around $3000, working to save more) and from what I researched I would have to pay at least $1500 for an e-book with 100 pages (and it probably won't be as great as I would like). Moreover, there will be other expenses (such as e-book design, hosting, etc.) and it will probably take a longer while until I have a sales page that's going to convert well (I have no idea how to create a converting sales page). This won't leave me with a lot of money to spend on paid advertising to promote this product.
Here's my second idea:
1. Find a problem in a niche with many great products to promote (probably a much more competitive niche than a niche I would choose with the first idea).
2. Create a free e-mail course (I can outsource it and it won't cost me that much).
3. Promote other people's products throughout my free valuable lessons. I would focus on killer products that are already established and have professional sales pages (something that I won't be able to afford with my current budget).
4. (optional) Get a killer product created by someone else when I have more money to create something really outstanding. With this approach I would basically start making money as an affiliate marketer. In the meantime, I would listen carefully to what my subscribers say and then develop a product to an audience that's already asking for it.
With this approach I would only have to spend money for the creation of this free e-mail course (probably something like $15 per e-mail) or maybe even I would be able to create it on my own.
This idea violates the commandment of control to some extent (it's basically affiliate marketing, but at the same time I'm building a list of my potential customers) but if I save enough money I'll be able to create a really killer product and already have an audience hungry for my product.
I have some experience with e-mail marketing and I know how to build a relationship with subscribers. However, I absolutely despise free traffic because it's too time-consuming. I have some experience with CPA and I'd rather spend my time paying for subscribers. That's why I have this dilemma - option #1 doesn't leave me with much money to spend on paid traffic (and my sales page would probably suck in comparison to professional sales pages), option #2 means violating the commandment of control (at least until I have enough money to be able to create my own killer product).
Do you think that I should pursue easier (in my opinion) second idea and just focus on making money now and make this business fastlane later by creating my own product or create my own product from scratch? I would love to read your insights.
I have two ideas - both related to e-mail marketing, but I'm not sure which one I should pursue.
My first idea is to create my own product (preferably e-book) from scratch. Here's how I would go about it:
1. Find a problem/niche.
2. Create a simple sales page just to test if anyone is interested and send some paid traffic (500 visitors or so) with Facebook or another ad network. Talk with people who clicked "buy now" (if there are any) and ask them what specific information the product should contain.
3. Product creation - and that's my main problem with this idea. If I want to offer a really incredible product I'll have to outsource product creation (I'm not knowledgeable enough about any topic to create a really killer product, I'm more like a jack of all trades). I have limited budget (so far around $3000, working to save more) and from what I researched I would have to pay at least $1500 for an e-book with 100 pages (and it probably won't be as great as I would like). Moreover, there will be other expenses (such as e-book design, hosting, etc.) and it will probably take a longer while until I have a sales page that's going to convert well (I have no idea how to create a converting sales page). This won't leave me with a lot of money to spend on paid advertising to promote this product.
Here's my second idea:
1. Find a problem in a niche with many great products to promote (probably a much more competitive niche than a niche I would choose with the first idea).
2. Create a free e-mail course (I can outsource it and it won't cost me that much).
3. Promote other people's products throughout my free valuable lessons. I would focus on killer products that are already established and have professional sales pages (something that I won't be able to afford with my current budget).
4. (optional) Get a killer product created by someone else when I have more money to create something really outstanding. With this approach I would basically start making money as an affiliate marketer. In the meantime, I would listen carefully to what my subscribers say and then develop a product to an audience that's already asking for it.
With this approach I would only have to spend money for the creation of this free e-mail course (probably something like $15 per e-mail) or maybe even I would be able to create it on my own.
This idea violates the commandment of control to some extent (it's basically affiliate marketing, but at the same time I'm building a list of my potential customers) but if I save enough money I'll be able to create a really killer product and already have an audience hungry for my product.
I have some experience with e-mail marketing and I know how to build a relationship with subscribers. However, I absolutely despise free traffic because it's too time-consuming. I have some experience with CPA and I'd rather spend my time paying for subscribers. That's why I have this dilemma - option #1 doesn't leave me with much money to spend on paid traffic (and my sales page would probably suck in comparison to professional sales pages), option #2 means violating the commandment of control (at least until I have enough money to be able to create my own killer product).
Do you think that I should pursue easier (in my opinion) second idea and just focus on making money now and make this business fastlane later by creating my own product or create my own product from scratch? I would love to read your insights.
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