You know I love residual income. And you know I think membership sites and newsletters are both outstanding ways to earn residual income. You make the sale once and you get paid for as long as that person remains a member. But there is something different about investment memberships and newsletters.

You might say they are in a league of their own, because the bulk of their profits seldom come from subscription fees.

Have you ever wondered why a millionaire (or billionaire) investor would bother to publish an investment newsletter? It’s not like they need your $99 a year.

And why would any investment expert charge $99 or even $499 for a newsletter or membership if it can really 10x or 20x your investments in a relatively short time? We’re talking about you receiving million-dollar gains in a few short years. All for just 99 bucks? What’s the catch?

Here’s what I think: That publisher wants as many people as possible following his or her recommendations because when they do, that publisher makes money.

Let’s say I run an investment newsletter and you’re a subscriber. I tell you to buy XYZ stock because I think they’re about to get a billion dollar contract with Amazon.

And maybe XYZ will get the contract, and maybe that stock will go to the moon because of it. But even if what I predict doesn’t come true, here’s what happened for me:

Because I bought the stock before I told you and thousands of other subscribers to invest in it, and because all those investors drove the stock price up, I made money. If an investor has enough followers, they can and will influence stock prices simply through their recommendations.

It’s no wonder why that ‘million-dollar’ newsletter costs $99.

I’m not suggesting you don’t subscribe to these newsletters if you have faith in the person making the recommendations. You can still make money, as many people do. Just be aware that the newsletter author is likely making even more money with their recommendations because of you and all the other investors buying into the stock the author already holds.

And if you’re wondering what type of membership or newsletter to start, well… this bit of insight might just help you to decide. 😉

As an marketing coach, which do you think would be easier: A: Taking someone who is earning $1,000 a month and showing them how to earn $10,000 a month, or B: Taking someone who is earning nothing online and showing them how to earn $500 a month…

As you’ve probably guessed, the answer is “A”.

But why is that true?

Because someone who is already earning $1,000 a month likely has systems in place to earn money. They have a squeeze page and maybe a website, they have one or more products to promote and they have a means of driving traffic and a list they can contact.

Most of all, they KNOW that $10,000 a month is an attainable goal because they’re already earning $1,000 a month. They believe it can be done.

But the person who is currently earning nothing likely has no online marketing infrastructure in place. They probably don’t have a list or an audience and they might feel overwhelmed and unsure of what to do and how to do it.

More importantly, they’re not entirely convinced online marketing is even REAL – at least not for them. They don’t yet believe they can do it. They want to believe, but their doubts are so great that it’s easier for them to think online marketing works only for other people and never for them.

If you take someone who is earning $1,000 and show them how to earn $10,000, they will be happy. But if you take the person who is earning nothing and show them how to make $500 a month, they will think you are a SUPER STAR and they will love you for it.

And if by chance you are not yet earning anything online yourself, then let me ask you this: Do YOU believe you can earn a full-time income online? Because if you have doubts, it will be that much more difficult for you to find success.

The U.S. elections are over now, but the impact they had on many people still resonates strongly. Thinking I might like to revisit a U.S. show about the White House called ‘The West Wing’, I found it on Netflix and started binging.

The West Wing was a serial political drama series that ran from 1999 to 2006 and it enjoyed a large, enthusiastic audience.

The funny thing is, the #2 actor on the show, Rob Lowe, doesn’t appear in many of season 4’s episodes. And by season 5 he’s gone. Why did he leave?

It’s rumored that he was disappointed the network wouldn’t raise his salary. It seems the $75,000 per episode they were paying him wasn’t enough to hold his interest.

And if you think that was a lot of money… Years ago, Martin Sheen the lead actor was earning $300,000 per episode.

I bring this up for one reason: Are you possibly thinking too small?

I realize it’s good to have realistic goals that are achievable. But if your goal is, for example, another $1,000 per month, what would happen if you make a second goal to be earning $1,000 per week? And then $1,000 per day?

Odds are you are providing as much value to your customers as actors provide to their audience. In fact, if you are teaching new skills then you are providing more value than someone who merely entertains. You’re just not doing it at the same scale… yet.

Please realize that you are indeed worth more than you realize. Think of this as permission to raise your goals considerably, and take the action needed to get there.

If you’ve followed me for any length of time, then you know I advocate testing everything to see what works rather than simply taking the advice of others. In fact, I tell my readers to test what I preach as well. Just because I say something works for me doesn’t necessarily mean it will work for you.

For example, let’s talk about bonuses – those things we’re all told to attach to offers to increase conversions. We sometimes spend as much time building bonuses as we do creating the product itself. But did you know that bonuses don’t always increase sales?

And that sometimes they can actually HURT your sales?

I’m not sure why that happens, but I can remember a time or two when I’ve been tempted to purchase a product and then noticed the bonuses. Inside I groaned… “You mean I have to download and read all that stuff, too?” It’s too much, and I close the page rather than make the purchase.

Bonuses can distract from the main product, dilute the main product’s value and even make the whole product package too big and too complicated.

Plus, bonuses sometimes cause confusion or point out a flaw in the product. “Why are they adding the bonus on getting traffic? Oh my gosh, that’s right, I’ll need to get traffic to make this work. How hard is it to get traffic? It must be difficult or they wouldn’t add that bonus. Forget it, I can’t do this…”

This is why the smart marketer tests out each bonus. Try making your offer with and without the bonuses and see what happens. If you have more than one bonus, you might also test having more or less of those bonuses until you find just the right combination or no bonuses at all, whichever converts the best.

And here’s a bonus for you: The next time you create a product, don’t assume you have to make a half dozen bonuses, too. Maybe you can save time and increase sales by simply offering your product as is. Now wouldn’t that be great?

Because competition is a real factor here, I’m not allowed to reveal the exact niche for this case study. Luckily, this method will work in any niche where you can save people money on something they’re already buying. And it will work in a lot of other niches, too, but for now let’s talk about the whole money saving deal.

For purposes of discussion, I’m going to change the niche to air travel, and we’ll assume it’s not during a pandemic.

This person – we’ll call him Vinnie – set up an information email list giving away free info on cheap flights. Again, I’ve changed the niche, but let’s roll with it. When airlines get cancellations, make mistakes and so forth, they sometimes offer crazy good deals just to get the seats filled. Vinnie keeps tabs of these offers and sends his list info that can save them a lot of money on their airline tickets.

But here’s where it gets good: While anyone can subscribe for free, he also has a paid version. The cost is low, about $40 for 3 months or $90 for a year. The savings on just one deal alone can be several hundred dollars, making it an easy sale to air travelers.

The difference between free and paid subscriptions is the free subscribers only get about one third of the deals in their inbox.

Paid subscribers get ALL the deals.

Here’s what’s great about this business model:

•   The content writes itself. All you would be doing is passing along the info that your readers want. Essentially it might sound something like, “Delta is offering 2 for 1 discounts for the next 24 hours for transatlantic flights. Here’s the link to their site.”

•   Readers can easily afford the subscription price. If they have the money for plane tickets, they can afford a $90 subscription.

•   Getting just one deal a year more than pays for the subscription. People who continue to fly do not unsubscribe.

•   Paid members get an ego bump because they have ‘inside knowledge’ they can brag about to others. “My guy saved me $400 on my ticket.”

•   It’s easy to get new subscribers. Since he has a free version and because people want to save money, his conversion rate on his squeeze page is extremely high.

•   Once free subscribers see how valuable the info is and realize they are missing two-thirds of it, upgrading is an easy sell.

He made $140,000 in just the first six months alone. He wouldn’t tell me how much he’s made since, but I do know he bought an expensive new house and he’s hired 3 people to handle most of the business for him.

One more thing: Once he realized how big this was going to become (and please remember, I have not revealed his true niche) he decided to bring on affiliates with a referral program. This made things explode and kept his competition to a minimum.

Here’s what you can do: Be on the lookout for any niche where people need quick, up to date info on something. It might not just be about saving money on a particular item. Maybe they need the latest news or methods in their niche such as investing and so forth.

When you find a good possibility, verify that people are paying money in the niche. Obviously, people pay for airline tickets so that would be easy. And some niches will surprise you. I’ve heard of a guy who is making a killing writing a monthly newsletter about collecting arrowheads. He works maybe 5 to 10 hours a month and pulls in $10,000 in monthly subscriptions in his one man operation.

Create a free version of your newsletter, find where your audience hangs out and get them signed up. Show them why it’s to their benefit to become an insider and upgrade to the paid version.

Learn your numbers and start advertising to scale the entire operation up. Vinnie advertises online and in publications.

Remember to sell your readers other stuff, too. If your niche is golf tips, sell them golf equipment and golf packages. If your niche is dog training, sell them high end dog food and so forth.

This is so simple, you can get started almost immediately, just as soon as you choose your profitable niche.

PLR or private label rights don’t always enjoy the best reputation. Most marketers figure PLR was written by someone who either doesn’t speak English well or has no background in the subject matter. Oftentimes the PLR is cobbled together with a lousy sales letter with amateur graphics and sold as a package to unsuspecting marketers.

Is that how you view PLR? If so, it’s no wonder. Many PLR packages aren’t worth the money which is why potential buyers are leery of new offers. But there is a way to still sell boatloads of PLR to marketers, and it works like this:

Before you sell PLR licenses, sell the product as it is. Launch the product on its own without rights. Sell it to your list, put it on JVZoo or wherever you want. Make no mention that you will be selling the PLR rights to it, not even as an upsell.

The idea is to let it stand on its own. Now it’s tried and tested, there is no question it sells, and it stands apart from every other PLR offer out there because it’s proven.

Wait a couple of weeks and then offer the rights to it. Often the people who purchased the product from you in the first place will be the first people to buy the rights, too, because they’ve seen the product and they value it.

If you want to sell the PLR licenses for a higher price, then simply restrict the number of people who can purchase a license. And you won’t need to convince anyone that your PLR is of great quality because it will already be a proven seller.

We talk a lot about storytelling in marketing, but what’s the meaning of it all? With one simple story – the right story – you can turn an unsuccessful business into a success, and a successful business into a behemoth of customers and sales.

Stories are 22 times more memorable than facts and figures alone. And our neural activity increases five times when listening to a story. Storytelling lights up the sensory cortex in the brain, allowing the listener to feel, hear, taste and even smell the story.

And because consumer attention is the ultimate commodity, it’s more important than ever to tell the right story.

Since the best stories are often not your own, Land Rover tells their customers’ stories. They find people who depend upon the Land Rover vehicle – such as a team of local transport drivers in the Himalayas – and share their remarkable stories.

IKEA uses puns and humor while sharing stories of how their products improve the private lives of their customers. They shared funny stories of how their products are used in the bedrooms and bathrooms of customers with tremendous success.

Sanlam Bank educated South Africans on the importance of saving money by filming the trials and tribulations of a young professional who got paid only in rand coins. These coins were worth about 7 cents in US dollars or .34 pounds sterling. Combining the story telling with valuable personal finance advice earned the video series 900,000 South African views on YouTube and generated 74 million media impressions.

Here’s how to get into the right mindset to uncover your own story. And guess what? It’s in the form of a story…

This guy is walking down the street when he falls in a hole. The walls are so steep he can’t get out. A doctor passes by and the guy shouts up, “Hey you, can you help me out?” The doctor writes a prescription, throws it down in the hole and moves on.

A priest comes along, and the guy shouts up, “Father, I’m down in this hole, can you help me out?” The priest writes out a prayer, throws it down in the hole and moves on.

Then a friend walks by. “Hey Joe, it’s me, can you help me out?” And the friend jumps in the hole. Our guy says, “Are you crazy? Now we’re both down here!” The friend says, “Yeah, but I’ve been down here before, and I know the way out.”

Be the friend to your customers. Jump in the hole with them. Let them know that you’ve been in that hole before, but you know the way out. Tell them your story, show them how it parallels their own story, and then show them the solution.

Would you like to know how the highest-ranking affiliates are making their sales?

Here’s how to find out:

Research the top selling evergreen products at places like JVZoo and Warrior Plus. See who is winning the leaderboard competitions and then get on their lists.

You might have to do a little Googling to locate their sites, blogs, squeeze pages or whatever, but it’s not that difficult.

Join their lists and then watch their emails.

You’ll see how they warm their lists as well as the exact email sequences they use to sell products.

Don’t copy their emails word for word, but do study them and figure out what makes them work. Then write your own.

You’ll have email sequences for all of the best evergreen products, written in styles that you already know convert. Plug them into your autoresponder and make sales!

I once knew a marketer who wouldn’t lower his prices no matter what. He lived in constant terror that old customers would be mad that the course they bought last month or last year for $197 now cost $97. Heck, they might even demand a refund of the price difference. I’m pretty sure he imagined that every one of his customers was sitting at the computer just waiting for the price to drop so they could complain.

News flash: They weren’t.

And I’ve known plenty of marketers who wouldn’t raise their prices. Again, they were afraid of angering customers and losing business.

But Dan Kennedy’s first advice to almost every business owner is to immediately raise their prices. Most of his clients balk at this and some are so opposed they even throw a fit. But Dan wears them down until they acquiesce, and guess what happens? The sky doesn’t fall down, customers don’t disappear and the business starts making a whole lot more money.

As marketers we bring our own psychological ‘money baggage’ to the business. All those things we were told as kids about money can still cause us problems, and it’s usually our business that pays the price.

Next time you want to raise or lower your prices, you might refer to this list to find a way that makes both you and your customers comfortable with the process.

1: Timing. If you want to permanently raise prices, first make sure that your customers are happy with your product or service. Use the good feedback, reviews and testimonials when you explain your new pricing.

2: Sound the Alarm. Before you raise your prices across the board, consider telling EVERYONE that it’s going to happen. While some marketers prefer to make as little noise about price increases as possible, other marketers take advantage of the situation by telling the world that if they want the lower price, NOW is the time to jump in.

3: Add or Subtract Something. You can justify raising or lowering your price by adding or subtracting something from your offer. Maybe you add another product – such as an older course you stopped selling – to the mix to justify an increased price. Or if your product’s sales are dropping, you can remove one of the bonuses – such as coaching – and lower the price to make it more accessible to everyone.

4: Bundle. Offer discounts if they purchase more than one item.

5: Play with Numbers. Let’s say you sell a tangible product. You offer 10 units of a product for $100 but you want to raise the price to $115. Add two more, different-sized packages such as a 5 pack for $75 and a 3 pack for $50. This makes the 10 pack look like a good deal, even at the higher price.

6: Add fees. This only works with some product categories, such as gym memberships, mortgages, cars and so forth. But it can be possible to add in a ‘fee’ for signing up. You can call it an administration fee, set up fee or whatever you choose. If fees are standard in your industry, then it’s certainly an option.

I’m not fond of fees, but they can be especially effective as incentives when you offer to waive the fee if they join today. It’s like having a sale without having a sale, if you know what I mean. Yes, that is a gray area, but something to think about.

7: Improve the Offer. Do you want to sell your $197 course for $297? Update it and add some new content, making the old version look obsolete. Let the buyers of the old version know they can upgrade to the new version for whatever fee you choose (in this case, $0 to $100).

8: Change Sizes. If your product’s size can be adjusted – more or less of a product or service – then you can change the price accordingly.

9: Schedule Price Increases. If you schedule your price increases in advance – such as every January or July – and you let customers know about your schedule, they won’t be surprised or upset.

10: Target a Different Demographic. If you find you need to significantly raise your prices, consider targeting a different customer base altogether. For example, maybe you’re helping yoga instructors with their marketing and you realize they don’t make much money and thus can’t pay you much money. Switch to plumbers, dentists, chiropractors or lawyers and you can likely double or triple your prices without doing any extra work.

Last thoughts: If you’re raising your prices, it’s best to plan ahead. It doesn’t turn out well if you tell your customers you’re going to raise prices just once this year only to discover you have to do it a second time before the year is over.

If you lower prices, such as when you have a sale, then there might be a previous buyer or two who notices and sends you a disgruntled email. Write back and offer them a free electronic product of their choice. It costs you nothing and they will likely be happy that you responded to their concern.

Let me preface this by reminding you that the greatest selling tool in all the world isn’t the internet, or sales letters or sales videos or even word of mouth. It’s stories.

Stories sell like nothing else because we are hard wired to listen to and love stories. It’s in our genes. There was a time when storytelling could literally save our lives. Think of primitive man coming back from a hunt and telling everyone in camp the story of how ‘Bob’ was killed by a saber tooth tiger in the sixth valley to the south.

Do you think anyone would venture into the sixth valley to the south after that? No way, because they knew the story of how Bob got killed by the tiger who lives there.

Now then, here’s how to get experts to practically write your blog posts for you AND get them to do it in story form:

Ask them a question that invites a personal story.

For example, your blog is about investing in commodities. This week you want a blog post on pork futures (I’m making this stuff up right now) so you send out an email to every commodities expert you know of, asking them about their most memorable pork futures story. It doesn’t matter if they made or lost money, you just want to hear their story. A dozen of them write back and you put those stories together into a post.

You’re doing a few things here:

First, you’re getting experts to weigh in on an interesting question, which means you get to ‘borrow’ on their credibility, making you look good to your readers and customers.

Second, you’re doing this in story form, and since people love stories, they are coming back to your blog every week for more of these stories.

Third, you’re building a relationship with these experts. Sure, some of them won’t respond to you, but others will be eager to share their stories. And down the road, who knows what might happen. They could end up promoting your product to their lists, or asking you to do a JV, or even becoming good friends with you.

Fourth, blog posts like these tend to get shared on social media which brings in more traffic.

Fifth, your experts might also share your posts with their followers. “Hey, my hog futures story is featured in this post, check it out.”

The trick here is to phrase your questions in such a way that it invites personal stories.

And don’t forget to ask your readers the same questions. Sometimes it’s the everyday guy or gal you don’t know who has the best story – the one that makes your article go viral or even get referenced on other major sites.