I’m building so many mini money making machines that someday, they will do all the work for me.
I’m a little bit late for this report as I got sick the first week of November. You know how it works when one of your kids get sick at school, right? Everybody in the family got their share of a the flu…
When I look at my online company back in January of this year and I look at what it is today, I can’t even believe what we accomplished in nine month. Don’t get me wrong, I’m not making more money than I used to (unfortunately!) but my sources of revenue have reached a whole new level of diversification. I used to make roughly 60% from private advertising and while this business has dropped to 25%, I’m still on target to make as much as I made last year. So let’s take a look at what happened in October!
As I mentioned in my previous Blog Evo Report, one of my most profitable sites has been hit by another Google Chimpanzee update. This resulted in losing roughly 75% of my search engine traffic for this site. My guess is that I’ve become too greedy with this site and pushed too much Adsense optimization. The site has probably been classified as an “ad top heavy site” and Google are currently chasing them down. So because I was making too much money with Google, the same company dragged me down. Ironic, isn’t it?
I was quick to react and made modifications the same week. I didn’t get my traffic back but I was able to reduce the bleeding. In fact, my search engine traffic increased by 30% in the last week of October (keep in mind that if I was getting 100 visitors per day, down 70% it was then 30 visitors per day, up 33%, it’s now at 40…. I’m still a long way to getting all my traffic back). Nonetheless, it’s a good sign and this tells me that I’ve identified the problem and am fixing it with the right solution.
I removed the Adsense leatherboard and changed an Adsense block within my site. Therefore, I ensured that the first thing that readers see on my blog is content and nothing else. My Adsense earnings hurt (you’ll see that below) but at least, I’m getting more traffic back.
On the other hand, I have another site that “fell into the good graces” of Google where I see an increase of 20% in my search engine traffic. That was good news as I’ve seen both my eBooks and Adsense earnings on the rise. Win some, lose some, the joy of diversification!
I recently read a very interesting book called Magnetic Sponsoring. Most of the book has been created to boost MLM (multi level marketing) networkers to even greater success. First, I hate MLM’s (you can read my Primerica Review if you want to know how they work), so I wasn’t convinced about the content of the eBook! The problem with most MLMs is that they are not making money with their products (regardless if it’s vitamins, insurance (Primerica), cosmetics (Mary Kay) or phone/cable (ACN), they are making money from recruiting more people. And I don’t like when you advertise something while you sell something else. The problem is that most people’s MLM won’t advertise that you are in the recruiting business. They will sell you the “system” and lead you to believe that you will earn money from right, left and center. This is not what is happening. Sure, there are a few crazy performers that are making a ridiculous amount of money. But this is the same situation in every field. Ramit Sethi is making over $1M per year through his financial blog, the best doctors are making over $1M/year, the best stock traders too (even bad traders make money, lol!), and so on.
So back to the book, I like a few things about the theory behind Magnetic Sponsoring. In a few words, the idea is to sell yourself as an expert in a domain instead of selling your product. There is one quote that I will remember from this book and it presents pretty much the whole concept:
“Nobody who bought a drill actually wanted a drill. They wanted a hole. Therefore, if you want to sell drills, you should advertise information about making holes – NOT information about drills!”
– Perry Marshall
I’m going to give more thought to the whole concept and apply it to various levels throughout my network. I’ll let you know how it works. In the meantime, if you have ever heard or read this book, I’d be curious to know what you think of it.
I’ve decided to publish my Niche Sites income now to give a little bit more transparency. It will also help me know how much these sites are generating in my company. The $560.92 is broken down into two sources of revenues:
$326.40 from eBooks (Excluding Dividend Growth)
$234.52 from Adsense
There was a huge increase in the number of small eBooks I sold this month. The main reason was a stroke of genius by my partner who simply worked on the sales page. As crazy as it seems, just a few different words in the titles and sub-titles and BAM! 30 more sales! The key was to erase all “feature keywords” and replace them by “benefit keywords”. Here’s an example:
Let’s say you are selling drills (yeah… I know, I’m piggy backing on what was written above). You want to promote the fact that your drill is making super clean and precise holes. You have 2 options on how you can word it:
The S3452 Drill comes with 25 different hole sizes and 8 speeds so you can drill super clean and precise holes.
That is putting the features in limelight while you still outline the benefit of drilling holes. But you can twist it this way:
Make your holes right the very first time, each time!
When you think about it, the real benefit of making a clean and precise hole is not really to make the most amazing hole of all time. The benefit is to do it right, the first time so you don’t scrap your wall, swear at the tool and throw your drill at the dog!
Do you want to make nice holes or do you want to finish this task ASAP with the best results possible? The first one is a feature; the second one is a benefit. The main difference between the two statements is not the end results (it’s exactly the same), but you add the emotional factor to your feature. This is how you can boost your sales instantly with the very same product.
I must admit I’m not the best guy with this technique yet. But I’m slowly learning how to put the right wording out there that will generate an emotion from my reader instead of a “hum… that would be nice” thought. “That would be nice” never triggers an action, especially a buying action!
The book continues to sell very well. The first update listed 144 copies in the first week, my second update showed 226 copies total as at October 15th and I can tell you that I’m at 291 as at November 5th. The goal was to sell 300 copies by December 31st and I can tell that I will achieve my goal big time.
My designer is dragging his feet in the production of a paper copy and I’m about to lose my patience. He just has too much work on his plate and I hate feeling dependant! I plan to do a relaunch for Xmas and I’m running out of time. I will definitely work on a plan B in the upcoming days….
Besides that, we have a few ideas on the side to write another book. With the current success I have experienced with Dividend Growth, I’m seriously thinking that I could build a bigger business model around my books. Just think about it; if I could sell 20 books at $10 each per day, I would be making $200 per day – $73,000 per year from books. I’m currently selling on average 3 to 5 books per day (now that the buzz is over) with all my books, I just need to write more books and I’ll be able to make it!
I’m preparing myself for the Holiday season! No… seriously! Last year, I launched the best dividend stocks for 2012 book and it was a great success. I made over $1,000 in affiliate links with this book and it was downloaded 4,221 times so far this year. Not too bad for a few hours of work! I’ll be repeating this experience with the Best Dividend Stocks for 2013 with an enhanced eBook. The key will be to provide even more value so I increase the number of downloads. Since my newsletter is twice as big now as it was back in January 2012, I expect to hit it hard! Then, in this free eBook, there will be references to my Dividend Growth book. This should lead to more sales!
This is the sad result of having Google hit me right in the jaw by hurting my most Adsense prolific sites. I’m down by $1,300 from my record month but still pretty close to the $100/day mark. I know that with my latest modifications, I’ll be able to get back my $100/day and, hopefully, start earning over $3K again this January.
Now it’s your turn, tell me, what have you done recently on your sites to make them better?
|How I Suck at Not Paying Debts||Hitting 6 Figures Income at 28|
|How I Get a Huge Income Raise Each Year||Making $125K Online in 12 months|
|How I Buy Blogs||Most Debated Articles: The Primerica Saga|
|How I Have Survived My MBA||What is So Wrong With Making Money?|
|How I run multiples blogs and makes money without burning out|