Intro to Online Monetization

1. Intro to Online Monetization Presented by Karen Porter Department of Management & Marketing School of Business Administration The University of Montana

2. About This Course • Overview of Module 2: Online Marketing & PR • The Many Ways to Make Money Online • Selling Online – Shopping Carts & Drop Shipping • Affiliate Marketing and Google Adsense • Converting Visitors to Leads and Leads to Sales – Email Marketing and More • About your instructor • karen@impactonlinemarketing.com • (406) 529-8931 • About attendees

3. 7 Main Ways to Monetize • Display advertising • Lead Generation • Affiliate marketing • Google Adsense • Subscriptions/Membership • Webinars • Online Store • Your own physical or digital products • Someone else’s products (buy wholesale/sell retail) • Drop-shipping

4. Display Advertising • Selling banner ads on your website or blog • Best for sites with lots of traffic • Minimum 50,000 visitors per month • Better is 100,000 visitors per month • MAY work on sites with less traffic is highly targeted and visitors are responsive • Banner ads best for branding/overall awareness • Not good if advertising is expecting high click-thru • Example: Make it Missoula

5. Lead Generation • Request info from site visitors • Sell those leads to other sites / businesses • Need significant traffic • Self-generated or CPA offers

6. Affiliate Marketing • Digital products • Generally pays about 50% -- good pay! • Good source for digital products (ebooksand software) is Clickbank.com • Physical products • Pays much less – generally about 4 – 10% • Amazon.com (the big kahuna) • CommissionJunction.com (another big source) • Independents (Walmart, Target, Cabela’s, etc.) • http://affiliate-marketing-services-review.toptenreviews.com/

7. Affiliate Marketing– cont. 2 • Can be an affiliate even without a website • Promote via Facebook, your own list, etc. • Use uniquely coded hyperlinks • Your referrals are tracked and commissions paid on a specified basis • Once per month • Once per quarter • Whenever you reach a specified level of sales • Be sure to read terms and conditions • Some require you to get paid via PayPal • Getting paid by check generally some with fees

8. Affiliate Marketing– cont. 3 • YOU can have your own affiliate program • Increase your sales • Incentivize others to promote your products • Grow your sales with their lists / contacts • You determine parameters • Programs options • Some shopping carts comes with aff program options • Many options for separate affiliate programs that can be tied to your products • http://affiliate-tracking-software.no1reviews.com/

9. Google Adsense • Google Adwords ads placed on your site • Need a good deal of traffic to make good $ • Must not be an obvious “Adsense site” • Apply at Google.com/adsense • You choose where ads are placed • You can prevent competitors from getting ads onto your site • Adsense can be applied to YouTube too

10. Subscriptions / Memberships • Best for those possessing in-demand expertise or for a popular service / software • Example: Offline Renegades • Example: PicMonkey.com • Sweet spots are between $9.95 - $29.95 / mo. • “Micro-memberships” less than $5.00 / mo. • Ideal to already have a sizable following

11. Webinars • Best for those possessing in-demand expertise or knowledge • Can hold your own webinars • Often start with free webinars • Sell affiliate products • Upsell to a paid webinar (or webinar series) after • Upsell a membership program • Guest-speak on someone else’s webinar • They bring their followers, you split the sales • You host a guest • You bring your followers, split guest’s product sales

12. Online Store • Three main types • Sell your own products • Retail • Wholesale • Both • Sell someone else’s products • Buy at wholesale – sell at retail • Drop-shipping

13. Selling Your Own Products • Best if you manufacture or hand-craft specific items • Sell at retail • Highest profit • Sell at wholesale • Less profits, but more items sold (selling in bulk) • “Standard” mark-ups • Wholesale price => 3 x cost of materials to create • Retail price => 2 x (or more) of wholesale

14. Selling Your Own Products • Best if you manufacture or hand-craft specific items • Sell at retail • Highest profit • Sell at wholesale • Less profits, but more items sold (selling in bulk) • “Standard” mark-ups • Wholesale price => 3 x cost of materials to create • Retail price => 2 x (or more) of wholesale

15. Selling Your Own Physical Products • Best if you manufacture or hand-craft specific items • Sell at retail • Highest profit • Sell at wholesale • Less profits, but more items sold (selling in bulk) • “Standard” mark-ups • Wholesale price => 3 x cost of materials to create • Retail price => 2 x (or more) of wholesale

16. Selling Your Own Digital Products • Best for those with expertise OR for those who partner with someone with expertise • Sell at retail • Highest profit • Pricing depends on what market paying • Prices ending in ‘7’ tend to do best • Selling via affiliates • 50% affiliate commission generally expected • Leverages lists / connections of others to promote sales of your product

17. Selling Someone Else’s Products – Marking Up from Wholesale • When you don’t have your own products • This is most people! • Buy at wholesale prices • Sell at retail prices (min. 2x wholesale price) • Important to research what it is that people are willing to buy • Why should they buy from you? • Who will your competitors be?

18. Selling Someone Else’s Products – Drop Shipping • When you don’t have your own products – another way to sell • Drop-shipping • You provide storefront only • No inventory to buy, stock or ship • You collect orders at retail prices • Pay higher than wholesale (usually about +50%) • Someone else fulfills products

19. THANK YOU! Karen Porter karen.porter@business.umt.edu -or- karen@ImpactOnlineMarketing.com (406) 529-8931