In the first two lessons I explained how you don’t need as much traffic as you think you do and revealed a smarter, more advanced model of making money from a blog.
If you have not read this series from the start, I recommend you catch up here first:
Today I want to cement the formula so you can see how a small amount of highly targeted customers can lead to a six figure or more income.
While it’s great to have 10,000 email subscribers or 10,000 people a day visiting your blog, these are difficult numbers to reach. Most people never do.
It takes a ton of hard work over a long period, mixed in with great timing and luck, and you can’t stop – the traffic stops when you stop.
…And don’t forget, just because you can reach a lot of people doesn’t mean you make a lot of money. The money is not in how big your list is…
I propose that today’s intelligent blogger, especially if you are starting new entering such a competitive environment, instead focus on going deep.
To go deep means your traffic building efforts are designed to strategically attract a certain person and deliberately ignore others. You are looking for exactly the right kind of person who is perfectly placed to benefit tremendously from what you provide.
Because this target audience benefits so much from what you create, they want as much as they can get from you and are willing to pay premium prices for it.
Your traffic strategy is to attract the kind of person who will spend thousands of dollars on what you offer and benefit far beyond what they pay you for it.
It takes a strategic filtering process for this to work, but if you do it well, you can earn hundreds of thousands of dollars from just hundreds of people.
Don’t make the mistake of thinking you have to chase big traffic numbers to make big money.
A smarter path is to create a system that can be used to earn money from your blog from DAY ONE, which filters people so you end up with a highly qualified tribe of rabid buyers.
To make this more tangible, let’s look at some numbers…
Let’s start with a fairly realistic goal for most blogs: 200 visitors.
Attracting 200 people a day to your blog I am sure you agree is a much more realistic target, one that you can get excited about because it won’t take nearly as long to reach.
So what can 200 daily visitors do for you? Let’s see –
Given 30 days in a month, that’s 6,000 visitors to your blog in total for the ENTIRE MONTH.
That’s 300 people who join your newsletter per month.
30 people buy your entry level product at $20.
And three people become super-fans of your business, your core tribe members, and buy everything you create, spending $5,000 over 12 months, earning you $15,000.
That’s $15,000 per month (I’m not going to count those $20 front end sales because that money is used to attract more people – you only profit on back end sales).
$15,000 per month is $180,000 per year, a very healthy income and made from only 36 people (3 repeat buyers discovering you per month, that’s 36 per year).
Those numbers are obviously not specific results to expect in every situation in every market.
Sometimes you will have fewer email subscribers but more buyers, or vice versa. Your traffic will fluctuate, as will your conversion rates.
Not every repeat customer will end up spending $5,000. Sometimes they might only buy your $1,000 course, while another goes on to join your $10,000 year long private coaching group.
There are too many variables to account for, but the principle remains true. You are using your blog as an entry point to filter people so you can identify and serve those who want the most from you, and spend the most.
That is how you can derive a very healthy income from a very small amount of people.
What is great about this strategy is you create a step-by-step process that operates “behind” your blog.
People go from your blog to your email list, to your low-priced front end offers and then your back-end higher priced offers.
You might use webinars, a series of videos, audios or a series of blog posts like you are reading now – whatever works for you. These are simply distribution tools used to educate and make offers with.
Each step can be tweaked and incrementally improved, creating a flow-on improvement across the system. It also makes it very easy to see the path forward.
Step one is to make sure you have the basic framework set up of a landing page, a blog, a newsletter sequence, and a front end product to sell.
Once the framework is there, get some traffic and run people through the process. You will learn how many people go from your blog or landing page, to join your newsletter, to read your emails/watch your webinar/videos (etc), and then buy your product.
You then have a baseline of conversion numbers to work on.
Not enough traffic? Implement techniques to get more traffic.
Not enough people going from your blog to your newsletter? Work on how you present you optin offers to improve conversion.
Not enough people going from your emails to purchase your product? Focus on how to convert more buyers.
It’s a very systematic process, once you make the decision to follow this model.
Obviously to make money with this process you have to have products to sell, ideally a range of products that go up in price for those who want more from you.
Traditionally price increases based on how much direct contact you offer. A front end ebook might cost $30, while a group coaching program costs $500, one-on-one time is $2,000 and a live weekend workshop is $5,000.
Of course you can’t offer all these if you just started because you have to create them (you can speed things up with re-purposing and rapid product creation methods, but that’s another lesson for another day).
What you can do from day one, is sell services. The simplest service is to offer phone/skype coaching, which is exactly where I would start if you are not sure about how to position your offer.
You can sell half an hour of your time for $30 to $300 from day one to help people solve one specific problem, which is your first front end offer.
The great thing about this method is you get paid to learn what your customers want.
You can then build out from there, adding more products and services as you learn more about your target market and refine your unique positioning in your marketplace.
Setting up this process will give you the answer to the most important test: Where are your buyers?
By making an offer from day one you find out if people buy, where they come from, what they need help with, how much they are willing to spend and how best you can help them.
How incredibly powerful is that!
Keyword research, fostering a community, building a list and of course blogging itself will NOT answer these questions.
You only find out about buyers by making an offer.
Once you know you have a buying market, then you go out there and build the business around those people. Create the blog, build your list, and ramp things up knowing that you have a market who spends money on what you provide.
There are no guesses or assumptions, only numbers that lead to cash flow using this system.
The great thing about following this process is not only do you require much less traffic to make it work, once you establish yourself, your market positioning becomes a powerful competitive advantage.
As you build out your product funnel and get a better understanding of what your people want, you will become the default choice to solve that problem.
It will take less effort to convert a sale because your message will become stronger and more aligned to your specific target market.
You become a specialist, with a deep range of products and services serving a very specific need. You can charge premium prices because you have the trust and credibility of being one of the best in your field.
This is when you can look at increasing your traffic using new channels, because you know exactly what type of traffic to go for and you have a system to profit from it.
Imagine how much you can make if you increase the numbers from 200 visitors a day to 1,000?
Do the math and figure out for yourself…
Today so many people are fixated by how many visitors they have to their blog, or how many downloads they have of their podcast, or views of their videos, or subscribers to their email list.
To focus on these numbers is a mistake. It’s a misleading sign of success because it does not correlate to income unless you are using low-leverage models like advertising or affiliate programs (which means you need unrealistic amounts of traffic to make good money).
The right numbers to look at to assess success are how many buyers you have and how much money you make per buyer.
Step one is to generate your first stream of reliable traffic and present an offer so you can get your first buyer.
To help you take this step I invite you to study my latest guide on how to attract your first 1,000 daily blog readers.
This is my next level of training on traffic. It’s not free, but for under $50, you won’t find a guide written by an online entrepreneur and blogger with as many years experience as I have (and I’ve coached over 3,000 bloggers already).
Here it is:
This guide will give you the platform of readers to present your offers to so you can begin making sales and identify your customers.
While you don’t need lots of traffic, you do need some form of audience to begin testing offers with. This guide will give you techniques to create that audience.
I used the example above of what 200 daily visitors could do for you. My traffic guide is designed to help you reach 1,000 people, but as you can see, even if you fall short of that goal you can have a six-figure business if you focus on the right things.
Get started today and learn the techniques I used to grow my blog traffic.
You have reached the end of the first trilogy in my Blog Traffic Fundamentals series. I hope you enjoyed it, and I made a lasting impression on you and how you build your online business.
When you make the decision to follow this smarter model, I am here to support you. You can see the full range of programs, courses and coaching I offer at http://www.ejinsider.com.
That’s it from me for now. Talk to you soon.