In early February 2007 a new "system" was added to the
Internet marketing mix. Created by Jonathan Leger, a
programmer/marketer from Dallas, the system continues to
yield results for those who apply it. But does it fit your
online business model?
The original report, which has now sold thousands of
copies, explains the simple system:
- Create a report
- Sell the report
- Make it *very* easy and attractive for others to sell
your report
- Provide a one-time offer to increase your immediate
revenue
- Repeat
On the surface it sounds like a traditional information
marketing model. But there are a few twists that make the 7
Dollar model unique.
1. While you can create the report from scratch, it could
just as easily be one of those resale rights or private
label rights ebooks you have sitting idle on your hard
drive.
2. People who purchase your report can immediately sell it
with no special instruction and no affiliate registration.
3. They keep 100% of the sales price.
4. You get the new customer's name and email.
5. The 7 dollar scripts, which are included in the original
ebook, put the whole operation on autopilot.
As a result of this system a cottage industry of new
listing sites, new template formats, and experienced web
designers who specialize in setting up 7 dollar sites has
been created. And there's no end in sight!
While the system is attractive, it has its drawbacks. For
one, you either need to be fairly comfortable with HTML or
you need to have someone who is. Installing the scripts is
relatively easy. Getting all the pieces to work flawlessly
is more complex and time-consuming.
Second, as would be expected there is a proliferation of 7
dollar products in the "making money" category. Yet while
those seem to be the most popular and more profitable,
there are people making money from other topics. One site
lists over 400 products using the 7 dollar system, in 18
different categories
Third, you are essentially giving away your front-end
profits in order to build a list. While this won't hurt if
you have a profitable "backend" to your product funnel, it
does present a dilemma for newbies. After all, which do you
need more - $7 in revenue or a new subscriber? And could
you purchase a new subscriber for less than $7 with another
traffic method?
So given all of that, should the 7 Dollar System be a part
of your online business? It all depends...
You can easily use the scripts to automate your sales
process, particularly if you have a one-time-offer that
converts well.
You can refer people on your list (or via other traffic
methods) to the 7 dollar products that you recommend -
putting the $7 in your PayPal account immediately.
You can start making profits or getting subscribers from
those "dead" resale products sitting on your hard drive.
You can even build your list using this method. Just be
aware of the "cost" per subscriber.
It's all up to you and how you want to take advantage of
this "new" online tactic.
----------------------------------------------------
Dr. Jeanette Cates is an Internet strategist who educates
consultants and other experts on new tactics to create
Online Success. She offers the original report and a
training program on the 7 Dollar system at
http://SpecialReportProfits.com
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