2 Ways To Make Money Online
Copyright 2006 Patric Chan There are 2 types of approaches you can choose when it comes to creating an info-product. It's either you be creative or innovative. Creative means, you observe the market and come up with a good solution. Basically, using your brain to think of how your info- product can solve the existing problem of what the market is having. Like, if you see there are a lot of people having a problem to write a salesletter, you come up with a salesletter generator software. Or, if you see that a lot of people are trying to organized their joint venture’s details, you can create a joint venture profile software.
Basically, you'll be the first person to hit the market. Make sense? But if you want to minimize your risk of failure and make money fast, I'll prefer to be an innovator. Observe the existing products created to fulfill the demand of a market. See how good the sales volume is. Then, I'll be an innovator to provide better Solution or tap on the existing opportunity.
Not sure what this means? Let me explain . If you happen to see in the market, there are a lot of salesletter generator software right now because there are a lot of innovative marketers. Another example of an innovator marketer -- A relatively new company call PayDotCom that provides similar service like Clickbank.com. It was launched successfully following the creative company called Clickbank.com. Clickbank.com was the first (That I know of) website that provides credit card processing service with built-in affiliate tracking program for internet marketers to use. Now, there are more innovative marketers that have created affiliate tracking tool that can be integrated with other credit card processors like Paypal.com, 2checkout, authorize.
net, etc. Innovative marketing doesn't limit to copying what is successful and trying to be better, bigger or cheaper. That's a very narrow observation on how to be profitable and it'll normally fails. Just by adding these 2 extra ingredients in it, you'll change the whole profit model: 1. Finding an angle Finding an angle means how you can position yourself unique from the originator. Example, Clickbank.com was a success. But other affiliate tracking tools that did not have a built-in credit card processor were very successful as well by integrating with third party credit card company. Paydotcom is also another good example of this. They solve the core problem.
2. Complimenting to the pioneer Create an info-product that can ride on the existing successful market. Let's take Clickbank.com as an example for discussion purpose. There are many new tools created to enhance the convenience of using Clickbank. Examples are: Software to manage your Clickbank.com affiliates; Software to extract your Clickbank sales report into a Microsoft Excel file; Software to create Clickbank.com search engine Tool that is integrated with Clickbank ID; Video tutorials how to setup Clickbank.com account; and many more. Observe what's happening on the internet.
Then, decide whether becoming a creative or innovative marketer will give you more profit and yet can reduce your workload. Then, TAKE ACTION.