This earn money online blog post isn’t going to be about how Overstock and Regnow are going to turn StoreStacker into a must have money maker and about how it’s going to be software that you’re absolutely going to have to have in order to earn money online…
StoreStacker is a nice piece of software but today I want to talk about the product itself and about how the guys over at halfagain (creators of StoreStacker) have laid out a simple yet very effective business model for earning money online.
If you’re not familiar with StoreStacker, StoreStacker is basically an affiliate store website builder a lot like BANS in how it can build affiliate stores in basically minutes but in my opinion it’s superior because it can pull products from eBay, Clickbank, Amazon and now Overstock and Regnow.
I think I paid $100 for StoreStacker and another $25 for the ClickBank plugin and now I’ll be forking over another who knows how much for the Overstock and Regnow plugins… a few weeks back they released some other paid plugins that could pull in RSS feeds and insert them into your store you know for “fresh’ content and for the search engines. At the same time they made an update to the StoreStacker script that allows users to import YouTube videos into your StoreStacker stores.
Guys this is what’s known as the “selling shovels to the gold miners” method of earning money online and let me tell you why I have so much respect for these guys at halfagain and how they’re going about their business online.
- StoreStacker is a good product and it works if you work it. The most important thing in any business is to have a product of good quality that people want to buy and use.
- The product offers an opportunity to continue to sell to the existing customer base. With the plugins they continue to come out with they have a customer base of of StoreStacker buyers that are most likely interested in these upgrades to their stores at $25 a pop. They say that the easiest sale to make is the sale you make to clients and customers that have already bought from you.
- They’ve limited the number of licenses they’ve released so the market doesn’t get saturated with these things. Basically what they’ve done is ensure that their existing customer base has a product that they can continue to use because it shouldn’t lose it’s effectiveness. That’s called building trust and establishing a reputation with your clients for providing value.
- Since it’s the internet there will always be updates and upgrades to the stores that you can sell to existing customers. I don’t think I really have to expand on that one.
- They have a good support forum for StoreStacker. Providing solutions for your customers when they have problems with your software is essential to ongoing sales.
A lot of you may argue that by limiting the number of licenses they’ve released they’ve limited their income potential… that’s one way of looking at it but here’s how I look at it. Customers that really believe you have their best interest at heart will spend with you indefinitely and that my friends is invaluable when you’re building a business. A while ago I made this post on Increasing Your Customer Lifetime Value.
This is how you go from breaking even or losing money on a marketing or advertising campaign to making a lot of F@#!ing money! You sell more stuff to your existing customer base. It doesn’t cost you anything to market to them and they already know and trust you.
And that’s the kind of product based business model that I think we should all one day strive to have. That’s where the real money is at. I mean what are we making with Amazon? 4% a sale. eBay? 3-5% a sale. Shit you’re better off chasing high-paying Adsense clicks in your local mortgage, credit card, DUI and divorce niches…
Sure we’re all earning money online with Blogs and affiliate stores and pay per click but that’s all we’re doing (and how much do you like chasing back links really?)… This isn’t really how you envisioned earning money online would be but this is how the pro’s go about their business so you drink your coffee every morning and you start optimizing your sites even though you pretty much hate what you’re doing.
Hey don’t get me wrong I’m still slinging all of my shit at the web just like you to earn money online but now that I’ve been in this game (earning money online) for an extended period of time I’m beginning to have a lot of ideas on products and software that would benefit other internet marketers and a products-based business model seems more appealing to me right now and more financially rewarding and just more up my alley.
And at the end of the day I don’t think all this time I’ve spent earning money online with affiliate marketing has been a waste of time because I think it was necessary to learn this business from the ground up and I’ll always be promoting affiliate products for the extra income stream and because it makes sense to begin with affiliate products when first entering a new niche.
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