Lesson 7 Mini Workbook
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Finally! You’re at the lucky last video inside this mini course!
As you’ll see, the concepts inside today’s video is pretty straight forward. If you’ve following all the previous lessons, you should be well set up to easily monetize what you’ve been creating here.
The monetization part is really the easiest part out of everything. The challenge is to first get “everything” done before you can enter the monetization phase. It’s like that with any other business – you first need to invest time and resources up front before you can start making a decent income from it. Once you pull it off though, there is a pretty amazing reward.
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Until the next video!
Welcome back to the final video in this video series, for this Mini Course for Rapid Video Blogging!
So far, you’ve gone through a number of different steps to get to this stage. This video is all about monetizing your asset that you’ve been creating.
Let’s just go through the things you’ve been doing throughout this Mini Course.
First of all, I asked you to figure out your sweet spot, your Hedgehog Concept, your niche that you want to operate in on YouTube.
The second lesson was all about creating your videos super fast. And I talked about the benefits of being able to do them really really quickly.
I then talked about setting up your own Video Domination Hub. I talked about creating content in a very structured, methodical and systemized way so that you can speed up the process even more.
I then went into the growth strategies. Remember the four different growth areas that I talked about to help grow your exposure and grow your business and grow your following more than one level.
Finally, I talked about the viral theories and methodologies that you can use to help make your videos go viral.
Today is all about taking advantage of everything you’ve been building up. What I’d like to say, before I get into this monetization thing, is that you need to be patient.
Building something like this can take some time. Sometimes you can strike it lucky and you can get picked up by other channels that just want to promote your stuff and that just love what you’re doing. And you can have a really really fast growth.
But in a lot of cases, it may take a little bit longer. It may take a few months to start building up this audience that you can then use to monetize.
The important thing here with all of these is that you need to build up the following first before you can make money from this. So it’s very much a “giving first” model before you can get.
With this, you’ve got to give a lot. The more you give the more gets returned to you as a result. I certainly found that in any of the businesses that I’ve been involved with. The more I’ve given, the more I’ve gotten back as result as well.
Keep this in mind, you need to have a following first before you can make any money online. It’s just as simple as that.
Remember, we’re using YouTube as the place to help funnel that traffic from YouTube into our own business assets so that we can then leverage those assets and make money from them. Let’s talk about that a little bit more inside this video.
THREE WAYS TO MAKE MONEY ONLINE
There are three main ways that you can make money on the internet. Perhaps there are other categories, but you can pretty much fit all kinds of income into these three main ways. Let’s go through them.
The first one is the Fast Cash Injection Method. The second one is the Passive Income Method and the third one is the Competition Crushing Method.
Within these three, you can pretty much fit everything else into it.
1. Fast Cash Injection Method
Let’s look at the first one, the Fast Cash Injection Method. What is this all about?
This is all about, essentially, Affiliate Marketing — promoting other people’s products and getting rewarded for any sales that you make as a result.
The way that this works is you normally get a special link that you can use for the promotion. When you use that link in your promotions and other people click on that link, something that’s called a cookie will get sent into their computers which will notify the product owner that you’re the affiliate that sent that traffic.
When that person that you send the traffic to, when he actually go ahead and purchase the product that you’re promoting you’ll get credited with a percentage of that sale.
That’s really a very quick way of explaining Affiliate Marketing. Once again here, this will only work, or in fact all these strategies will only work if you already have a following or if you can borrow a following somehow.
This is the best way that I found for me to work, to build this following on YouTube and to take advantage, to leverage this following that you’ve been able to build up… That’s Affiliate Marketing.
What’s really good about Affiliate Marketing is that once you have a traffic, it’s probably going to be your most and the easiest kind of money that you can make online.
You just send an email to a promotion, or you create a video and get people to click on the link and get paid. If the conversion process of the product owner is really good, you’re going to make some money.
What’s awesome about this is it’s easy and also, you don’t have to create the product. You don’t have to worry about spending the time and effort to become an expert to create a product. It gets done to you.
The product owner does that for you so there’s a massive shortcut there. All you’re going to do is send that traffic. All you’re going to do is build the audience and send the traffic to those offers.
The other cool thing is that there is no product maintenance. Often with new products they require maintenance. And that’s a pain!
It can be quite time consuming; sometimes you have to hire someone else to take care of that for you, especially if it’s software. With software, it continuously needs to be kept on being updated and that’s a bit of pain.
The other thing is you don’t have to worry about customer support. It’s someone else’s product, you just send them the traffic. The product owner has to deal with customer support. That’s a huge benefit in terms of time and hassle for you.
That’s the other thing, the technical support of the product or the software product, whatever it is that you’re promoting, you don’t have to worry about it, the product owner does.
So there are huge benefits to this Fast Cash Injection Method. It’s Fast Cash Injection because you just send an email and you can make money within a few hours once you have the following.
An example of this is when I recently promoted a product. I sent out four emails and I created one video that I sent an email out to as well. And of course I had my affiliate link in the description area of the video and inside the emails that I had as well.
This is only a few hours of work for me. I ended up selling close to a hundred thousand dollars with the product. That’s a lot of product, that’s a lot of money worth of product.
Keep in mind that, obviously, it’s an affiliate promotion. So for that particular promotion, the commissions were only 50 percent. In general, it’s about 50 percent online. So I only got 50 percent of that and then there were also some refunds that happened after that.
I didn’t get a hundred thousand for that promotion but still I made tens of thousands of dollars from that promotion from a few hours of work.
What I’m trying to say is that once you have a following and you start promoting these things, you can very very easily make some really really good money.
A place to go for a quick and easy affiliate products to find is ClickBank. That’s my number one recommendation. Go to ClickBank, then go to the marketplace there and search for other products within your niche that you can start promoting. Very easy.
Some of my best promotions though have not been through ClickBank. It’s been through other friends of mine within the industry who I’ve known for quite a while and I trust and I know their products. I know they look after their audience.
They would often approach me and say, “Gideon, I know you’ve got an audience that would be interested in this product. Would you be interested in promoting?”
Then I promote and I do very well on those promotions. Those are the sort of affiliate promotions I now get involved in. I don’t promote anything, in fact it’s very selective that I promote, but I can do that now because I’ve been doing this for so long.
In the beginning you may need to start with something like ClickBank to just help get some money coming in for you.
2. Passive Income Method
Let’s move on to the next method which is the Passive Income Method. Another great method! What’s really awesome about this is that you can build passive income.
What’s this about?
This is all about setting up advertising income on your website. Many many different ways you can do that.
You can sell banner advertising, text advertising, text links. You can do product reviews. All sorts of things to help get this advertising money coming in.
Once again, you need the audience for this to work. And often the best kind of advertising money is when you will have a very targeted audience for a specific product.
Say for example, one of my friends Alborz Fallah, he runs a blog called CarAdvice.com.au, a very very successful blog. It’s all about cars and car reviews. He’s got car companies advertising on his website and they make a lot of money.
The value of the company at the moment is in the millions. I think it is 18 million. Don’t quote me, I need to double check those figures; but it’s in the millions, in any case. Very very powerful blog! And that’s all through advertising. That’s using this Passive Income Method.
I guess you could argue that it’s not totally passive; you still need to work on creating the content and then you start getting the advertising money coming in. But you don’t have to create products.
You do have to create content to keep attracting more visitors cause that becomes your job. The bigger you can have your audience, essentially the more money you can make through advertising. Wonderful model!
3. Competition Crushing Method
The final method for making money and to leverage your audience that you’ve been creating is called the Competition Crushing Method.
This is all about product creation — creating your own products and selling those products to your own audience. It is competition crushing in a way that if you do this well, no one can really get close to you.
If you’ve built up a really good brand, you’ve got your own products, your leverage becomes so much greater. This is the hardest one of the three. Most time consuming as well; but it also provides you with the most leverage and the biggest potential to make some pretty big money as well.
There are some examples that I have here. Few months ago, I launched a product called Rapid Video Blogging. I sold that for a thousand dollars or 997 dollars. That was a wonderful thing for my business. My business went to a whole new level once I created that product.
Once I had that product, not only could I sell that to my own audience but amazing other things started happening as well.
All of a sudden I started getting people approaching me to promote my products. I started getting people approaching me to do webinars with me to promote my product. I started getting people asking me to go and speak on stage to tell them more about what I’m doing and to promote my product.
Of course with each of these things, the people who’d approach me, there’s something in it for them. When we do something like that together, it will be like an affiliate promotion for them and they will get a share of any sales that I made.
They provide the audience then I give them a cut in any sales that I made. That’s normally how it works.
What it’s done for me is not only have I been able to create a business asset, a product asset within my company, but I’ve also been able to make my business more attractive for other people to partner up with me.
That’s one of the things that I didn’t actually foresee when I created a big ticket item like the Rapid Video Blogging Course. There’s extra added benefit that you get from having your own high ticket product. So other people want to promote it for you because there’s a lot more in it for them.
That’s just one example of a product that I’ve created where I’ve been able to make a lot of money but it’s also been able to provide me with a lot more leverage in my business.
Just think about the most successful businesses around. Microsoft, for example, is a very successful business even though I would argue not that many people would like their products. But nonetheless they have products.
This is the distinguishing thing that makes them so successful. They have a product that they sell. And it’s something that they can work on and improvize every year, it seems; and sell it over and over again.
There are many many more examples of companies that have products. Because they have these products, it provides them with these awesome leverage to really crush their competition or really just to dominate within their niche. That’s really what all these is about.
As I said, this is the hardest method. If you have physical products, that’s great. You can also create digital products. It doesn’t really matter.
Digital products, in my view, are a lot easier than physical products. But they do require certain level of skills as well. Obviously, if you want to create a product of your own, either you need to develop this skill yourself or hire someone. Or team up with someone else that has the skill of product creation or already have a product that you can team up with, you then become the promoter.
This is something that I do encourage you to do for the long term. If you’re just starting out, it may not be your best strategy at the beginning. Build your audience first; get to know your audience first.
There’s a lot of science and art behind creating products so that they actually sell to your audience. A lot of marketing needs to go into it before you even create your product, a lot of strategy, a lot of thinking. But in saying on all that, it has been my number one best way for leverage and making money online.
That’s it. Those are the three main ways for making money. In a way, you might be thinking, “Is that it? Is that all there is to it?”
In a way, yes. It is actually that simple, because the most difficult thing online is to get that following, to build that traffic — a constant stream of targeted traffic all the time.
This is what happens once you start following my system. I’ve been able to do this now in three different industries — in the blogging industry, in the magic industry and in video blogging industry now as well.
They are all three different niches and I’ve been able to build that all up to about 200 leads per day for all of those businesses combined. All of these is using online video. You’ll see once you perform the method that I’ve been teaching you inside this Mini Course.
It really works. I’m living proof of this. I even did the project with JayJay the magician to prove that you can do it in other niches, niches other than the money making industry. So the proof is out there.
All you’ve got to do now is start implementing what I’ve been teaching you. Almost it’s really just that simple. Learn from the lessons that I’ve provided you and start implementing, start taking action.
This brings us to the end of this Mini Course. Before I close up, let me just quickly summarize these three money making (monetization) strategies.
The first one was the Fast Cash Injection Method where you promote affiliate products. The second one was the Passive Income Method where you’re trying to get much advertising as possible; that’s passive income. The third one was to create your own products and sell your own products.
If you can do all three of those, wonderful!
Perhaps start with the easiest one first — the Affiliate Income Model, and then build your way up towards the Product Creation Model, as well, as you go on with time.
What’s next really for you is to implement what I’ve taught you. I also really encourage you to check out my blog at GideonShalwick.com. This is where I have a lot of new updates about the latest and greatest in Video Marketing techniques and strategies. Go there; make sure you subscribe through either RSS or my YouTube channel.
My YouTube channel is simply YouTube.com/GideonShalwick — make sure you subscribe there as well.
I have all the links for whatever you can subscribe to below this video if you want to keep on following on any of the free information that I provide.
Obviously, I do have products as well. From time to time, I will send you an email that talks more about the products that I have on offer and if you’re interested on those products, you have the opportunity to learn more and to take things to the next level.
Thank you so much for watching this video series. I’ve really enjoyed creating them for you. So far from the feedback that I’ve been getting; I’ve been watching them as I’ve been creating these videos; it’s just been outstanding. So thank you so much for watching and leaving your comments.
Please do leave your comments below this video as well as a sign of your appreciation or any other kind of comments that you want to add. I really love hearing from you. I read every single comment on my blogs.
Thanks again for watching! I look forward to seeing you inside the next video, whichever video that might be.
Talk to you soon!
- Welcome Video And Overview
- Lesson 1 – How To Find Your Sweet Spot (Or Your Niche) On YouTube
- Lesson 2 – How To Create Professional Videos Fast And Easy
- Lesson 3 – How To Set Up Your Video Domination Hub
- Lesson 4 – How To Create Powerful Response Invoking Content
- Lesson 5 – Secret Growth Strategies To Put Your Results On Steroids!
- Lesson 6 – How To Make Your Videos Go Viral