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One of the most popular online ventures is selling e-books. People are hungry for information; that is why they are on the Web in the first place. And e-books are cheap to produce and distribute. However, I have come across quite a few new online entrepreneurs thinking they are going to strike it rich selling a $20 or $30 e-book. They have failed to do some simple math. Suppose you sell an e-book for $30. Deduct $5 off your $30 sell price to account for advertising and other costs. That leaves you with $25. You would have to sell 1,000 copies a year to make $25,000. That is a lot of copies! Even if you did sell that many, 25 grand is not exactly going to put you on Easy Street. Another factor is competition. Many e-books with resell rights have also be purchased by hundreds, possibly thousands, of competitors. And if you are selling an e-book as an affiliate, you are usually limited to 50% or less of the sell price. The key to making large amounts of money selling information products is that you need resell rights for at least one higher priced item. Say you have duplication rights to a product that sells for $400. If you sold just 6 copies of this product a month, you would be pulling in $2,400 in sales. That is $28,800 a year. If you sold 12 a month, you would make $57,600 a year. Sell 24 a month and you are raking in $115,200 a year. Wait a second you say. What about my costs to duplicate, package and ship the product? Here is the beauty of the information marketing business: people pay for the value of the information, not the physical medium on which it is delivered (e.g. paper, audiotape, videotape, CD etc.) It is dirt cheap to duplicate information products. It is easy to duplicate a CD-ROM on your computer and blank CDs are less than a dollar each. I have an info product that I sell for $397. To duplicate, package and ship it via UPS, costs me $60. Subtract $50 for advertising. That still leaves me with $287. That is a huge profit margin. So instead of concentrating all of your marketing efforts on low priced info products, be sure that you have one or two higher priced items that you are actively promoting. Use e-books as a stepping stone to upsell customers. Once they have purchased a product from you, you have established a relationship with them. Someone who is already doing business with you is five times more likely to buy than someone who has not. ------------------------------------------------------------------------------------------------------ About The Author: Dave Coyne is a copywriter, marketing consultant and president of DC Infobiz. Get his FREE REPORT on how to start your own Information Marketing Business at home. Send an email with REF006 in the subject line to: dcinfobiz@GetResponse.com For more articles like this one visit the Library at PebblePacificBooks.com ------------------------------------------------------------------------------------------------------ |
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