Seven Steps To Earning £1,000 A Day Using Cash On Demand Marketing

Follow this strategy to build your cash-on-demand activities into a profitable £1,000 a day business.

If your goal is to develop a profitable business for the long haul, here are seven steps you should consider following.

Seven Steps To Generating £1,000 A Day

Understand the maths - Making £1,000 a day is a matter of simple maths. To achieve this goal, you need to sell one product a day which produces a £1,000 profit. Or you need to sell two products with a £500 profit. Or sell 10 products with a £100 profit each. Or sell 20 products with a £50 profit each. Or sell a combination of different products with different profits margins which add up to £1,000.

I've found that in most cases it is much easier to sell a combination of different products with different profit margins that add up to a daily £1,000 profit, than it is to try to hit the £1,000 mark by making a large number of sales of a single product.

By having a larger product mix, ( multiple streams of income ) you do not become dependent on the sales of just one product, and even products with minimal daily sales can add to the daily profit total.

For example, you could have 3 products which earn £250 a day, and six products that earn £150 a day, and 2 products that earn you £100 a day, and 20 other products that pull in just £25 each. The total would be £1,000 a day. And if one of the products suddenly became a non-seller, your other products would still keep you close to your daily income goals.

One other nice thing about the maths - is that if you consistently hit your £1,000 a day profit goal, your annual net income will be over £300,000.

In reality I know marketers who have had many days where they've netted well over £10,000 in a single day. Don't assume for any reason £1,000 a day is the most you're ever likely to achieve.

Choose your target market & products carefully - The target market you choose greatly determines how much your products will sell for, how many people will be interested in them, how difficult it will be to reach them, how many competitors you will have, how much product theft you'll have to worry about, and how often you'll have to come up with new products.

For example if you choose to develop products for the ' how to make money ' market, you'll find you have hundreds of thousands of competitors (many of those competitors willing to copy and resell your products [illegally] as their own), you'll find a marketplace cluttered with competitors and under scrutiny by the Advertising Standards Agency, and a market place full of customers who often buy in desperation hoping your product can magically make them rich without them doing any work (unrealistic expectations which lead to customer dissatisfaction).

On the other hand, if you target a very small sub-niche of a hobby related activity such as those who want to learn how to create a certain type of art, you will normally have only a few competitors, very little product theft, and will be offering a unique product to group of people in heat to learn more about a specific subject.

Since you get to choose who your customers will be, I strongly recommend you choose customers who are grateful that you are creating products for their interests, customers who enjoy spending money on the subjects you cover, and customers who are not at all interested in going into competition against you.

Build a line of related products - Rather than develop just one product for your targeted sub-niche, develop several products that complement each other. For example, if you develop a "Quick And Easy Guide To Cross Stitch", you should also develop products (and other DVDs) related to 'cross stitch' subjects.

Most customers, after they make a decision to purchase, will generally want to purchase more than one item from you. Give them that opportunity by offering many products on the same general subject.

And don't just focus on information products - when possible offer tools, workshops, and related materials in the same general product topic.

Impress your customers with your professionalism - Business, especially on the Internet, is a matter of trust. The more customers trust your ability to deliver a quality product, the more likely they are to order from you. A big part of building that trust is presenting a professional first impression to your customers. You can do this by having a professional looking web site, a professional looking ad or sales page, professional product packaging, and professional ' thank you ' letters included with your order packages.

Failure to deliver the first impression of professionalism is a major reason (second only to poor target market and poor product selection), that people don't place orders with you. If customers get the impression that you might be shady or second rate, they will have a good reason not to do business with you.

Make it easy to order - When customers want to order from you, make it easy for them to do so. Don't require them to have to fill out several screens of information to place a simple order. And don't make them have to register before they can order. (I can't believe so many sites require you to do this - why should you have to register to place an order?)

The order process should be a simple; fill out one form, and click a button to process the order. Anything more difficult than this will cost you sales. Research has shown that order forms which exceed more than one page can result in order abandonment rates as high as 80% or more.

Encourage multiple item orders - By increasing the average amount of each sale, it means you need far fewer customers a day to reach that £1,000 goal. If all your items are priced at £50, you need 20 sales a day. But if each customer spends £125 with you, you need only 8 sales a day.

Have a 'mother of all offers' package deal - Consider offering a special package which includes every item on your your website or in your product catalogue for a one price. This way, the customer didn't have to worry about which DVDs, software tools or books to get - they could get them all (plus a few bonuses not available in any other package) for one price. You may be surprised to find that your 'mother of all offers' package, might turn out to be your best seller.

If you have something like that, where each sale brings in almost £500, you only have to sell TWO a day to reach your £1,000 a day income goal.

The Basic Strategy in a Nutshell

The basic strategy to achieving £1,000 a day in profits is this. Choose the right target market, offer them a wide selection of closely related products, make it easy for them to order, encourage multiple item orders, and include a 'mother of all offers' .

This is the formula that has proven successful for many small businesses (some of which have pursued this same strategy into million pounds a year success story.)