One million dollar. That’s a one followed by six zeros. It really is a magical number. This week, the number 1 million holds extra special value. First, my eWallet payout to date passed the $1 million mark for the first time.
I set up the eWallet exactly one year ago to receive payments from MTTB. They used to pay me by bank wire but switched to eWallet in order to streamline the payment process. According to the US Census, the median household income is just over $50,000 a year. It would take the average family nearly 20 years to make $1 million. One year ago, my MTTB eWallet balance was zero. One year later, I’ve been paid $1,028,717.39.
Making $1 million is great, but let’s face it, most bloggers and Internet marketers will end up making very little. When asked why they make so little, most will tell you they’re a small site and don’t have enough traffic. Therefore, it’s not shocking that a lot of the questions I get is on traffic generation. If traffic is your problem, then I recommend you check out Traffic Masters Academy. This is a traffic course I created with a bunch of fellow Internet marketers.
Are You Making The Maximum Money Possible?
Traffic is only part of the formula, and it really isn’t the biggest part. It is possible to make big money online with very little traffic. What is more important than the traffic itself is how you monetize it.
Most bloggers monetize their blogs with a Google Ads or other advertising networks. They may also do affiliate marketing by recommending a book and linking to Amazon with their affiliate links. The problem with this type of business model is the payout is very small. You’ll make 5 to 50 cents from a Google Ad click, $19 from a $37 ClickBank product, and a measly 60 cents for selling a $10 book on Amazon.
At these low rates, you have to do a ton of traffic to make any decent money. Even at 50 cents a click, you’ll need 20,000 clicks a month to make $10,000 a month. Assuming two percents of your readers click on an ad, you’ll need 1 million banner views to make $10K! How many blogs do you know get that much traffic?
Scale Vs. Magnitude
There are two main ways to increase online income. You can increase traffic (scale), or you can make more money on the traffic you already have (magnitude). Most bloggers concentrate all their efforts on scale. They figure the key to making more money is by getting more traffic. If you’re making $1,000 a month with 100,000 views, then you should make $2,000 a month with 200,000 views. That’s the logic of it, anyway.
The reality is most bloggers will never achieve the scale required to make a living online. The funny thing is, it’s not scale that’s the problem. It’s magnitude. Most bloggers and internet marketers are promoting small ticket items that makes them next to nothing. What they should be doing is going after big-ticket sales.
Let’s say you want to make $100,000 a year, and you have a choice of two ways to do it. The first is to sell a $10 eBook. The second is to sell a $10,000 mastermind. Which do you think is the easier path to $100,000: selling 10,000 eBooks or ten masterminds? Of course the answer is the ten masterminds. With the $10 eBook, you would need to sell 1000 times more products to equal the income generated by just one $10,000 products.
If you want to make over $1 million a year online, you absolutely need to add high-ticket offerings to your product mix. Yes, it does take more effort to sell a $10,000 products than a $10 product, but it won’t be 1000 times more effort. It might take four, five, maybe ten times more effort, but it will never be 1000. Yet, selling a $10K product will give you 1000 times more income than a $10 eBook.
Selling high-end products requires a more personalized approach. You generally need to get on the phone with the leads and talk to them. This takes away from living the Dot Com Lifestyle. The solution is simple. Let Max do it!
Stop banging your head against the wall trying to achieve scale. That’s not the answer. The answer is magnitude. Why work your ass off trying to sell ten thousand $10 eBooks, when you can have a guy like Max make you $10,000 with just one phone call?
Adding The High-Ticket Offer
There are two ways to add a big-ticket product to your marketing mix. The first is to create it yourself. If you have never made a high-priced product before, then this is not a great idea. The second way is to license a system like MOBE/MTTB, and promote their suite of high-ticket products.
The nice thing about the MOBE setup is you don’t have to do the selling. They have an experience phone team that will close the high-ticket sales for you. The best way to find out more about the program is by applying for MTTB. This is MOBE’s 21-step system for making your first $1,000, $3,000, or $5,000 commission online. The system gives you all the tools, training, and personal 1-on-1 coaching you need to start making big money online.
If this blog post wetted your appetite about big-ticket sales, and you want to read more about it, then I recommend you download my eBook, the Ultimate Online Profit Model. It goes into topic in super detail, and gives the online business models that I use to make six-figure monthly income, and live the Dot Com Lifestyle. The eBook is free. Go download your copy now.