Step 1: Discovering Your Passion When thinking about discovering your passion, here are a few questions you might ask yourself… What are some of my hobbies? What unique skills do I have? When people ask me for help, what do they usually turn to me for? A simply trick to discovering what you’re passionate about is… The point of discovering your passion and using it in building your online business is so that you are excited and motivated by what you do every day—even when the going gets tough. Remember, you don’t need to be an expert on a topic to provide value. This is a common misconception and deterrent for getting started. Of course you have value, and chances are that you probably don’t realize just how much you know compared to the next person who could really use your help! If you’re still stumped and can’t think of anything. Consider this: What life experience do you have that you could help others attain or overcome? When starting an online business, you want to think about your passion and its potential in the market. This brings us to your next step, market fit. THE PARTY TEST Imagine you are at a party and you don’t know anyone. Someone comes up to you. What could you talk about with them for hours on end? Is it your kids? Gardening? Guitar playing? Cooking?
Step 2: Determining Market Fit and Potential When you’ve narrowed in on your passion and skillset, the next stepping stone is determining market fit. Market fit be simply described as the group of people that fit your product. Think about… Who would benefit from your knowledge? Is the market size big enough for you to profit from it? Where can you most likely find this type of person? Let’s take an example. Say you’re unique skill is you’ve mastered vegan cooking. There are several people who can benefit from your expertise. To name a few, people who are lactose intolerant or people who avoid eating meat for health or religious reasons. This is likely a very large market, with a lot of potential to profit. The best and easiest way to find out for sure is using the Google Keyword Planner. Use the Google Keyword Planner by simply searching a keyword or phrase. You can go here to get to Google’s Keyword Planner: https://adwords.google.com/home/tools/keyword-planner/ Lastly, assess the amount of searches which indicate your market size. Here above we can see using our example that there are on average 10 million to 100 million monthly searches for keywords related to vegan cooking! That’s incredible potential for marketability and profit! Now that we know how to determine our market fit and potential we can start to get into the head of these potential customers and better understand their needs. This brings us to our next step, creating an avatar.
Step 3: Creating An Avatar An avatar is a single person that embodies the representation of your ideal customer. Any good business starts with catering to their customer, that’s why this step is vital to creating a successful product and marketing strategy. You must understand your customer’s needs and fears so you get down to how you can better help him/her. What age is your ideal customer? Are they male or female? What are their biggest problems as they relate to your solution? Where would you be able to find your ideal customer (sites, communities, etc.)? If you do a good job of defining your avatar then they will become as real to you as a real customer. You should be able to narrow in on the type of language they will be most responsive to, be able to know what keeps them up at night, what would motivate them. In turn you’ll be able to structure your product with the right pain points and solutions that will be delivered in a way that will resonate with your potential customer. Now that you better understand how to narrow in on your ideal demographic, let’s talk about building a list of prospects in our next step on building a following.
Step 4: Building a Following A following is a group of people who are interested in your content and who will want to stay updated on the information you will share with them. You want to cultivate a strong relationship with these people because they will look to you as an authority figure and will in turn seek and take your advice. This means that later down the road when you want to make a recommendation to them about a product you will be offering, they will trust you. Your following are your future potential buyers. There are numerous outlets where you can build a following. You will recognize them by the names of major social media platforms YouTube, Instagram, Facebook, but also including various online forums and sites. You can even start to build a following offline through your communities, interest groups, etc. The best place to start is where you think most of your prospective buyers will be. This may be in a particular Facebook group, maybe it’s Instagram because you have a young demographic, or it may even be so specific as in your local communities, like a self-help book club, etc. You can really think outside the box here. So what do you start with? Start by cultivating a relationship with those people. Maybe you start that Facebook group or Instagram page and start inviting or following people who would be interested in your content. Maybe you start publishing cooking videos on YouTube. Maybe you start commenting on a forum and building authority among its users. The point here is to find where your prospective buyers are and start an outlet of communication with them so you can build rapport. Give them value and they’ll want consistent communication from you where you’ll eventually be able to sell targeted offers to them. Before we do that though we need to first build a list of prospective buyers.
Step 5: Building a List of Prospective Buyers Now that you understand the importance of building your community of prospective buyers, you probably realize that you’ll need a way to organize them to be able to deliver offers in the future. The way by which you turn a prospective buyer into a lead and in turn into a customer is through the use of what we call in digital marketing, a funnel. In this specific case, you will want to set up an opt-in funnel. An opt-in funnel is a series of pages you set up, the goal of which is to obtain the email address of your potential buyer. You want to collect a list of emails so you can communicate and build a relationship with those leads—and email is definitely the best way to do that! The most important part of all of this is the opt-in form that asks them for their name and email so that you can send them regular newsletters and updates. You can set up easy opt-in forms using Leadpages.net. Now, not everyone will go around handing you their email just because you ask them. That’s where you have to deliver valuable content—this is your knowledge on whatever passion, skill or interest you honed in on in Step 1. This includes tips, advice, blueprints, or any other related know-how that they’d be interested in in a simple PDF format—yep, it’s that easy. The delivery method? Email, of course! You can use any email provider to help you get those emails out, such as MailChimp.com—it’s easy for beginners and free to use too! You’ll just need to make sure you link your opt-in form on Leadpages with your email provider of choice. You can learn how to do that through Leadpages’ site. Now let’s talk about how you’ll make money with your list next.
Step 6: Monetizing Your Audience Now that you know how to start a following and a way to reach that following with just a click of a button you might be thinking,“How do I get to the money part?” A rookie mistake is to start monetizing to early. Another rookie mistake? Taking too long to monetize. So let’s start with a baseline. You want to send your list free content emails before you start sending them promotional ones. These can be short articles you send them, pdf reports you link off to, or even videos that you find on YouTube that you think will be helpful to your subscribers. It doesn’t have to be content you create, but it does need to be content that they find valuable. You’ll want to send at least two free content pieces before asking for anything in return. Start with value and reciprocity will follow. With ClickBank you can earn commission of 75% on products you promote from the ClickBank Marketplace. The key to navigating the ClickBank Marketplace is to start with the category your subscribers are most likely to be interested in. From there you’re most likely going to find the best converting products at the top of the list. These are the products that are selling the most for our affiliates and are most likely going to pump out the most bang for your promotional buck. A couple of tips: ClickBank affiliates usually look for products with a gravity of 10 or higher. This means that at least 10 different affiliates are promoting the product and making sales regularly for it. Other things to look out for are if the product offers re-billing commission which means the product owner has a product that bills the customer each month, and they’re willing to give you a percent of what’s earned—month after month. With these tips you’ll be promoting the top products which are most likely to convert your subscribers into commissions and even make you some recurring income along the way! After you get up and going, you’ll want to think about how to scale your efforts. That’s in our next step.
Step 7: Scaling Your Profits Now you’re dialed in with the whole “make money online” thing… how do you scale? There are two main ways to make more money, which generally applies any business. 1. Get more customers 2. Make more money per customer So how can you apply this? One way to get more customers is to increase your focus on Step 4—building your following. You should always be growing your following and as a result growing your list. A way to make more money per customer is by continuing to give great value to your subscribers so that they want to buy from you over and over again. But there’s even a bigger way to scale your profits… Instead of being an affiliate and driving traffic to ClickBank products for a commission, you can be the product owner and have affiliates drive traffic for you and make you sales! By packaging your own product as a pdf, audio, or video series you can sell to your subscribers and keep 100% of the profits. With you’re own product, you can have affiliates sell your product for you. There are around 100,000 active affiliates on ClickBank looking for interesting, high-converting products to promote to their following, just like you! You can create sales pages and membership sites with tools like Kajabi.com, Clickfunnels, or our simple tool, the ClickBank Builder. For now, if you haven’t yet, lets get you started with a ClickBank Account, by clicking HERE. Make sure to look out for emails from us since we’ll be sending you some really exciting strategies and training on building your online business very soon.