Whether you sell training courses on internet business opportunities or ebook’s for cooking, there is a lot one can learn by observing what’s working for other information product businesses outside your niche.
In this blog post i’ll be exploring some of the strategies that enabled one guy to earn over $10 million in one year from Clickbank affiliates to how a company called Mindvalley are making over $40 million a year selling information products in the personal development niche.
Leverage Marketing automation
Implementing marketing automation in your business will enable you to optimise your sales funnel and improve your contact with customers.
While doing my research for this blog post, I checked out 12 info product businesses that were generating close enough to $1 million in annual revenue.
This is what they all had in common:
So why on earth is marketing automation so valuable for these companies?
The bottom line is that it comes down to the ability to create user experiences based on the actions they take on a website. We’re now able to setup specific email campaigns that target people that take certain actions on our websites.
This is a whole new level of personalised targeting and an interesting way to connect with your audience.
To give you an example – lets say you run a website that provides online business training. Someone signs up for your free video series. Using marketing automation software, you can tailor your message automatically based on what they do with the content you provide them.
If they click through on an email that you sent them previously but they didn’t buy anything, you could send them a discount or an email asking them what went wrong.
This type of email automation is very powerful and can have a massive impact on sales volume and customer retention.
How Setting Up An Affiliate Program On Clickbank Made TruthAboutAbs $11 Million Dollars In One Year
Back in 2011, a guy called Mike Geary was interviewed by Tim Ferriss on how he manages to generate $11 million per year from selling information products in the health and fitness industry.
One of the most interesting parts of the interview was when Mike spoke about how his company leveraged the power of affiliate marketing. Mike described that a big turning point in his business was adding an affiliate program for his website on Clickbank and offering 75% commissions for affiliates. This is the maximum that any publisher can offer on the Clickbank affiliate network.
Mike Geary was one of the first to offer a commission percentage that was so generous. Hundreds of affiliates picked this up and started driving traffic to his website, resulting in millions of dollars being generated for his company.
Problogger Shayne Tilley’s Lessons Learnt From Making $30 Million Dollars
A few years ago, Shayne Tilley wrote a highly detailed post on his lessons learnt from generating $30 million dollars in sales by selling information products.
One of his main points of consideration was comparing evergreen products against timely products.
If you’re thinking in terms of longevity then the evergreen route is definitely the best way to go. When you look at how successful companies like Mindvalley are, generating in excess of $40 million dollars a year from products that aren’t even tangible, it is completely mind-blowing.
It also teaches you that evergreen content is the way to go. This content won’t ever stop selling and will consistently generate an income for your business for years and years to come.
Create More Content
We took a look at six popular blogs, including Mashable, KISSmetrics and ProBlogger, observing how they reached millions of visitors. We discovered that they all scaled the level of content they were producing.
For example, KISSmetrics discovered that for every additional article they produced, their traffic increased by 18.6%
More targeted traffic = more sales in your business. It really is as simple as that.
By creating a large amount of timeless, valuable content, you’ll eventually hit the stage where your traffic, leads and sales will grow in a massive way. All this, without having to increase your advertising budget.