Expanding My Income Streams: Part 1
I’ve been having a lot of success with ecom pretty much since I started, keep in mind I had a lot going for me with my previous experience in sales and marketing.
Especially when it comes to running paid traffic.
In the past I also had a great deal of success with promoting affiliate products… things like software and tools and mainly things for the “make money online” niche.
Recently I decided that I need to diversify my income streams and move into other areas, namely outside of ecom since that’s where 90% of my energy has been the last 2 years. Don’t get me wrong, ecom has been very good to me, but times are changing.
Mainly I dislike:
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- Dealing with customers – some can be unbelievably nasty.
- Dealing with inventory and fulfillment. Delays and shortages can quickly turn into a nightmare (see point #1 lol)
- Battling chargebacks that you often lose no matter what evidence you provide (again, see point #1)
And I’m honestly not a very social person. If given the opportunity I’d disappear into my very “tech’d out” office (which my wife refers to as my man-cave) and very rarely see the light of day. Not interacting with other people would be amazing for me, for those who don’t know, I’m an extreme introvert with anti-social tendencies that are overwhelming at times.
The idea of my daily schedule consisting of anime/movie binges, gaming marathons, and napping while never really needing to leave my fortress of solitude would be pure heaven for me.
This presents a few problems outside of the obvious, such as:
- I like spending money, I like tech stuff/gadgets/toys/etc etc…
- I have a mortgage and the accompanying property taxes/utility bills/ etc etc
- Car payments, groceries, daily needs…
In other words, I need a way to comfortably make money inside of this “bubble” lifestyle.
Ecom isn’t it. There are too many variables that will simply not allow for me to chill.
So… what to do?
Let’s start by listing out my own personal experience, and tools & resources that I have at-hand right now:
- Immense experience with Facebook Ads and all that this entails
- Data analytics
- Affiliate marketing…
- Actionetics (the email auto responder built right into Clickfunnels)
- FunnelFlux tracker (very powerful self-hosted tracking solution)
- A full “kit” of advertising spy tools
- Animoto video creation software (use for ads)
- Affiliate accounts with Clickbank, Mobidea, Clickbooth, Market Health, Shareasale, Offervault, and a few others.
I’m going to set $1,000 aside for this little pet project and go from there.
So what’s the game plan here? Well if you haven’t guessed by now… affiliate marketing.
BUT NOT the make money online stuff, I’m going into greener pastures.
You’re about to read a MILLION DOLLAR PLAN!
Well, at least according to a few of my various mentors over the years…
Okay so there are a few phases to this beast… let’s start at the top:
- Niche selection
- Competitive intelligence – I need to know who is selling what (and how) in the niche I choose
- Offer selection – largely based off of what I come up with in my competitive intelligence, what I feel I can promote safely on Facebook, and the payout!! lol
- Market research/audience research for targeting
- Funnel time – you guys will like this one, I’ve got a super simple but very powerful funnel planned here.
- Facebook niche page AND group setup! (yup a FB group as well)
- Ad creative: this includes images, copy, and videos if applicable
Okay, so there is the 30,000 foot view of the plan.
My schedule is quite accelerated so I plan on doing steps 1-8 over a period of 7 days.
And steps 9 & 10 will take place as soon as possible following the launch.
Growing For LIFE
I fully intend on monetizing the email list with affiliate offers and also monetizing the Facebook community I’ll be building around this system with affiliate offers as well.
Steps 1-5 are designed to make me money, anywhere from a 1x to 4x ROI on the front end depending on how well I implement all of the systems and my various tricks (wizard level marketing).
This will all be followed up by monetizing:
- The niche fan page
- The email list
- The Facebook group/community
- A PAID coupon club – recurring monthly subscription 🙂 (this one will require some serious positioning and messaging which I’m still hashing out)
These steps here are for long term wealth and growth.
When done right, I should be able to schedule posts, setup email sequences, and rotate my offers once per week…. The dream is being built.
I’m looking at various tools to make life easy for these long term steps… nothing concrete yet but here are my thoughts:
- Slacksocial for scheduling and auto-posting on my FB pages and FB groups – this will also allow me to closely manage the analytics and engagement of each post. At a cost of $7 per month, yes you read that right!! only $7.00 per month… this is a steal of a deal. It also claims to be able to auto-reply to comments on my posts… well this seems just amazing. We shall see.
- Actionetics – honestly this autoresponder is powerful but a total piece of junk. It’s clunky, slow to build in, and overall unpleasant to use. However since I already have the big clickfunnels plan this is included for free and most importantly… it’s affiliate marketing friendly… I’m going to use it. MOST autoresponder services will ban your account for sending affiliate emails and then you lose everything including the list you spent so much time building. There are better options out there which are affiliate friendly but this is what I have, so I’ll be starting with it and possibly upgrading/switching later on down the road.
- The paid coupon club is the final step to this plan, but it’s also the most difficult to implement. Not because of the coupons, but because of the subscriptions… I need to get what’s called a “high risk” payment processor in order to handle these subscription payments because most processors like Stripe do not like this model even though they support it… and will shut you down at the drop of a hat. Instantly killing all of your subscriptions and you will have no way to get them back unless you switch payment processors and then ask all these people to re-subscribe… yeah… good luck getting that to happen!! So this is the final step, and I’ll update how I get it done once its ready.
I will be breaking out this plan into a series of blog posts, hopefully 1 per day over the next week or so explaining what I’m doing and have done for each of these steps.
My goals are to do as little work as possible while bringing in a very tidy profit – I’m shooting for $500 per day in profit consistently day after day within 30 days. And of course growing!
AND if I do this right with my blog posts, you guys should be able to easily follow along and copy me step-by-step.
This is going to be awesome, if you’re excited for this leave me a comment below and let me know!