What is a signature product? Well, your signature product is simply something you offer for sale, with a commission to affiliates. For example, you could sell a 1 hour consultation call, a VIP day, membership program, or an eCourse. The advantage to creating an eCourse or membership program over a service-based offering such as a consultation or VIP day is that you can offer your knowledge to many people at a time.
Moving from a one-on-one to one-to-many model can be tricky, so I recommend hiring a coach or joining a program that has a track record of helping entrepreneurs create successful products.
To create my signature product, I joined the Joint Venture Insider Circle, a yearly membership program that provides training on how to attract potential joint venture partners and offers a product creation clinic how to create juicy titles and great bonuses that will provide ongoing value.
Once you have decided what product to offer and how much you should charge for it, you need a Buy Now button on your sales page. There are many shopping carts out there that you could use: PayPal is a great option for businesses just starting out. PayPal takes about a 3% cut from every sale, but it is simple and free to set up at a business account. If you’re not sure how to add the Buy Now button, there is user documentation on PayPal’s website, or you could hire a VA to add the code to your website.
The next step is to set up your sales page in your affiliate platform. WP Affiliate, 1ShoppingCart, Simplero, and Infusionsoft all track affiliate links reliably if configured correctly. Be sure that your affiliate platform will track “cookies” or the unique link that people click on to receive your freebie long enough so that when they buy your product, your affiliate gets credit for the sale. For example, you can set up WP affiliate to a cookie life of 365 days, so that when people click on your freebie and buy your product 1 year later, your affiliate who shared the link will get credit for the sale.
Typical affiliate commissions usually start at 30% of the product price, but can go up to 100% depending on the value of the lead to your joint venture partner.
I know this may seem like a lot of information, but to monetize your blog, you really need only 3 things: a freebie, a sales page, and an affiliate platform to link them together. It’s that simple!
If you feel stuck and want help setting these things up, feel free to book a 1-hour free discovery session.
Have a wonderful day!
Gina Noel Decker
Tech Done For You
In the next lesson, we’ll talk about how to hire a tech team.[/text_block]
