Day 14 of 30 Day Challenge – Making Money American Idol Style
As of Day 14 of the 30 Day Challenge, participants should have completed the market research (Stage I of the 30 Day Challenge), narrowed down keywords in two niche markets and written three articles for each keyword phrase. Ed Dale instructed participants to continue to check the Bloglines feeds they created on Day 10 for new content.
Ed went on to demonstrate the new GTrends tool created by Mike Mindel using the is keyword phrase “speed reading.” One of the affiliate links identified for the keyword phrase was ClickBank. ClickBank allows advertisers to offer their products to affiliates to sale and earn a commission. Several products were identified for speed reading. As noted in Day 6, multiple affiliate programs are indicative of a mature market in which people are likely making money selling products.
Since a goal of the 30 Day Challenge is to test the market, we want to find out how many people would look at something and then convert to buying. Quoting Gary Halbert, Ed noted that:
“At the end of the day, the only true test of a site, is whether someone is prepared to get out their wallet, open it up, pull out their credit card, type something in, and actually give you money. That’s the ultimate test. There is no better test.”
The way to eliminate all risk and make money during the process (which is why this process is inspired by American Idol) is to sell an affiliate product. With that in mind, participants were to review affiliate offerings related to their niche market, listen to any audios, read sales letters and use Google Notebook to capture any useful snippets. Ed stressed that this step is not in affiliate marketing strategy. The purpose of the affiliate process is testing. We want to see if people will pay us money in our selected marketplace.
Generating traffic (Stage II of the 30 Day Challenge) is useless if we cannot convert traffic (Stage III of the 30 Day Challenge). So to determine which sales letters work and which will not, we send traffic to the affiliate program and see if the product sales. Identifying keywords that will pay off immediately is the “holy grail” of internet marketing.
In sum, we must determine if we have traffic (200 visitors per day) and a marketplace that is prepared to spend the cash. Once that is accomplished, we develop our own product (Stage IV of the 30 Day Challenge).
Some of the affiliate programs recommended for testing include:
The action items for the day were:
- Write another three articles for each niche market, and
- Join affiliate programs.
Although my writing is a bit behind, I have identified and signed up for some of the affiliate programs. I could use some tips on getting the creative writing juices flowing. If you have some, please feel free to share in the comment box below.
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Tagged with: 30 Day Challenge • affiliate-programs • bloglines • clickbank • ed-dale • gary-halbert • gtrends • keywords • mike-mindel • niche • traffic
Filed under: 30 Day Challenge
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Thanks for the nice info. This is so cool.
Almost everyone that earnsmoney on the internet (even the millionaires) do so through affiliate marketing. Being successful in affiliate marketing involves knowing the formula that makes other affiliate marketers successful. For instance, autoblogging. Autoblogging is one of the least well-known forms of making money for quite some time… particularly because it’s quite difficult to make a good auto-blog. Yet, when done right, it can provide you with a perpetual passive income with the only real work required being the setting up process. Video Marketing, and several other marketing strategies are all designed to drive traffic to your site, can be incorporated steadily in order to raise the position your site appears in the search engine results page when any one searches for a term related to your site. And yet, even this can be totally automated.