The one thing you must do before you start an email marketing business and promoting affiliate products is to set your goals. The reason is that you will not have a way to know if you are on track and you can quickly become discouraged from continuing your journey.
In episode 1 of my Email Marketing Business DollarDash the first thing I did was establish what I hope to achieve at the end of 30 days. This goal is really part of a larger goal to earn $10,000 per month by the end of 2018.
For goal setting to be effective I recommend you set a Big Hairy Audacious Goal (B.H.A.G)
Make sure you have S.M.A.R.T in the B.H.A.G?
- Specific: Where? How long? How often? Who is involved?
- Measurable: “Did I run every other day this week for at least 10 minutes?”
- Actionable: I have the physical ability to actually do this.
- Relevant: Running is a form of exercise, which makes it relevant to the general (but Non-SMART) goal of “exercising more.” (Note that “relevance” may also refer to how it’s perceived by the person who needs to do it—e.g., “Is this something that I care about?”); and
- Time-specific: “at least 10 minutes every other day” and “starting today.”
Here’s what we accomplished today…
Email Marketing Business Offer Selection
For us to be successful with our 30 day challenge we have to work in a niche that we have some knowledge in and can speak about via email. For me that is “Affiliate Marketing” and email marketing.
In order to hit our goal of generating a positive return on our investment then we need to promote products at various price points to maximize our returns.
I recommend choosing a product mix in the following order:
- High Ticket
- Mid Ticket
- Low Ticket
Many affiliate marketers prefer the reverse approach because they hope to recoup their investment from the “volume” of sales they make. I will be the first to say that this does work over time however if we hope to recoup our investment in traffic within 7 days and stand a chance to generate a profit within 30 days, we need to have a high ticket offer.
If you’re like me and don’t want to go through the trouble of choosing products that you “Think” will convert and would rather have a professional that has a track record of success set up your funnel for you, then I recommend plugging into a done for you system called Earn Easy Commissions.
I chose to give myself the best opportunity to succeed with this challenge and have a professional that has a track record of success set up our funnel with Earn Easy Commissions and I’m also going to promote it as an affiliate.
I love that the product has great training (the basis of this challenge) and has multiple price points to maximize returns.
Earn Easy Commissions has the following commission payouts:
- Free = 5% commissions and earn up to $25 per sale
- Bronze $100 upgrade = commission bump to 10% and earn up to $50 per sale
- Silver $200 upgrade = commission bump to 20% and earn up to $100 per sale
- Gold $300 upgrade = commission bump to 30% and earn up to $150 per sale
- Platinum $400 upgrade = commission bump to 40% and earn up to $200 per sale
- Diamond $500 = commission bump to 80% and earn up to $400 per sale
PLUS $1 FOR EACH PERSON THAT CREATES A FREE ACCOUNT!!
I chose to join and upgrade to the Diamond Level so that puts me in the red by $500 to begin with but I should be able to recoup that pretty quickly with those whopping 80% commissions on ALL products in the system.
This means that I earn the following as a Diamond Member:
- Free = $1 for them creating an account
- Bronze = $80 per sale
- Silver = $160 per sale
- Gold = $240 per sale
- Platinum = $320 per sale
- Diamond = $400 per sale
Earn Easy Commissions will be the evergreen product in my funnel, however I will also promote different affiliate products to my list to earn even more commissions.
What are my affiliate income estimations?
We have to have some way to do some forecasting in order to put together an effective plan of action so here is what i did…
I added up the commissions for all the different levels in EEC and divided by 5 (# of levels) and that provide me with the following:
Bronze = $80 per sale
Silver = $160 per sale
Gold = $240 per sale
Platinum = $320 per sale
Diamond = $400 per sale
= $1200 if I sold 1 of each
To find the “Average” value of a customer, we take that total and divide it by 5
$1200 / 5 = $240.20 average revenue per upgrade.
So here is my best guess of what could happen. I could do much better, or I could do much worse however, the results will tell me how best to proceed to maximize my return on investment. These numbers do not account for any revenue generated from promoting other affiliate offers.
Amount I expect to invest to get my tools and upgraded in the system: $532
- Earn Easy Commission Upgrade $500 One Time
- Getresponse Autoresponder $15.00 per mo
- Click Magick Tracker $17.00 per mo
Amount I expect to invest in traffic over the 30 days of campaign: $1235
Total Campaign Expense (Ad Spend + Development) = $1,782
Now, for the fun part!
How much could I Earn?
Since I plan on sending 1,500 visitors to my website during this campaign at a total cost of $1235…
I am expecting my squeeze page to convert at 43%
I also expect that out of the 1,500 people I send to my squeeze page that I will get 650 new subscribers and that that 350 people will activate their free account!! This means revenue to me in the amount of $350 ($1 per new account created)
I am expecting to make 10 sales from this campaign and I expect that the average value per sale to be $240 (some will upgrade and some will not).
- Expected Ad Spend Cost = $1,235.00
- Expected Cost Per Lead = $1.90
- Expected Total Campaign Expense (Ad Spend + Joining Fees and tools) = $1,782.00
- Goal Campaign Revenue ($350 in leads + $2400 commissions) = $2,750.00
- Goal Earning Per Click (EPC) = $1.83
- Goal Average Visitor Value = $4.23
- Goal Return on Overall Investment (ROI) = 54 %
- Goal Return on Ad Spend (ROAS) = 78 %
- Goal Total Campaign Profit = $968.00
(I know… a little shy of my goal )
Terminology you must know!
Earnings Per Click (EPC) Earnings Per Click – This is how much you earn when someone clicks on your ad. This gives you a precise number to focus on when in regards to each individual click you send to the system.
Total Campaign Profit – Revenue (total income) MINUS the total cost (tools+upgrade fee+ad spend)
Return on Overall Investment (ROI) – (potential) Gain or loss generated by current marketing campaign expressed in percentage.
Return on Ad Spend (ROAS) – Represents the dollars earned per dollars spent (including only invested marketing budget)
Lead Conversion Rate – Total number of new leads divided by the number of impressions. Better percentage represents a better customer response to your landing page message and congruency with the ad.
Cost per new lead – The costs to acquire a new lead
Average Visitor Value – Tells how much you can pay for a click (in your paid campaign like Solo Ads, Facebook Ads)
So I hope you see how having a well thought out plan of action combined with a system that has multiple price points can turn into an automated marketing machine. I hope my “Estimations” hold true or that I do better than what I am estimating.
How did you like this training? Do you have questions? Leave me a reply and I will get back to you as soon as possible