Having a reliable source of side income is practically a “must ” these days. And don’t let the thought of setting up a business, creating products, finding customers, and marketing to them scare you. The fact is, you can get by with the bare minimum.
I’ll give you a simple way to come up with blockbuster product ideas in a minute. And in about 5 minutes, you could have access to an army of salespeople eager to work for you.
I’m talking about selling digital products on ClickBank.
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You can develop a digital product (e-book, software, tutorials, an e-mail newsletter, or video instruction, for example), post it on ClickBank, and generate residual income for months, years… even a lifetime. (Or at least as long as ClickBank stays in business!)
In 2001, I developed a digital product that is still generating residual income on ClickBank. I receive a royalty check from ClickBank for this product every month. And that’s not the only digital marketplace I use.
With ClickBank, you have access to more than 100,000 affiliates who can sell your products for you. And the best part is, IT’S EASY!
If you develop a product that resonates with the market — i.e., people want to buy it — there’s a good chance ClickBank affiliates will start selling it to their subscribers, members, and website visitors.
How do ClickBank affiliates find your product?
You don’t have to worry about that. They are a savvy bunch. The most successful ones are constantly scouring ClickBank for the best and most profitable products. And popular (bestselling) products also “move up in the rankings” on ClickBank.
But that’s not all…
You can “jumpstart” the process by advertising your product on ClickBank, hundreds of other digital marketplaces, or Google, Yahoo!, and MSN (to name a few places).
It should be no surprise that the ClickBank affiliate program has one of the lowest attrition rates in the business. The entrepreneurs who sign up as ClickBank affiliates tend to stick with it. I think the main reason is because ClickBank pays its affiliate commissions accurately and on time.
Here’s what a typical ClickBank affiliate payout looks like:
Product – Yahoo Cash 4 Idiots
Sale Price – $77
Affiliate Commission – $40.69 plus 60% commission ($40.20) on back-end product
Another reason the ClickBank affiliate program enjoys such a low attrition rate is because it’s so damn easy to make money with it.
So why not consider developing a digital product to generate residual income on ClickBank?
The best way to develop a saleable product is to STEAL IT!
Well… not exactly steal it. But COPY a product that’s already being sold successfully on ClickBank. I’m not talking about word for word plagiarism. I’m talking about copying the “Big Idea” of the product and putting your own spin on it. This is the best way to start making money quickly, because you won’t have to reinvent the wheel.
Search all the ClickBank categories and study the most successful digital products. Order a few of those products, too. You can also hang out on the ClickBank blog. You’ll learn about the best strategies and products right from the horses’ mouths (ClickBank staff and Super Affiliates).
As for determining what kind of commission to offer ClickBank affiliates… again, copy success. What are others offering them to sell similar products? Maybe you could offer more. Or maybe less.
When you work with ClickBank, you’re in control of your product and retain a lion’s share of the profits.
As I said, you can earn residual payments for years — just by submitting one e-book to the ClickBank marketplace.
And just imagine what would happen if you submit two e-books. Or more!
It’s easy to get started. Simply create an e-book based on your area of expertise. (You may want to do a bit of research first to discover the types of products people want to buy.) To get a sense of what’s selling on ClickBank, check out its marketplace. You can identify the most popular products by sorting your searches by category. (ClickBank also allows you to sort search results based on other criteria — for instance, the number of affiliates who made money on a particular product in the last 30 days.)
Once you’ve got a digital product to sell, simply visit ClickBank and click “Sell Online.” The instructions are easy to follow.