Launching a product/running your own offer (14)
I haven't seen much discussion about running your own offer and I have a product I want to launch that I've been working on for the past few months. I have samples of the product in hand.
I'd like to get some insight on these aspects:
- what shopping cart to use? WHMCS?
- what system to manage orders? How to handle shipping etc
- any additional insight on setting up/running offers
Once I get the setup and logistics down it'll be good to go.
Thanks!
This is something i have been thinking about alot lately too and would be nice to hear from some advice from those that have
I put together a simple $9.99/month email subscription with tips/tutorials for a topic to be sent out every three days using AWeber. I had people run a PayPal subscription on it. I was about -20% ROI on the front-end on my first try. Second month's payments put me into the green and all future fees were profit.
Doesn't need to be complicated! Get 5,000 subscribers and you're doing $50k months with a fairly passive project.
I'm no expert in this area, but a lot of the affiliate shows these days have Merchants and Fulfillment companies on the floor who have experience working with affiliates. You could probably find all the pieces to your puzzle at ASW! 2 years ago these companies weren't showcasing on the floor.
Been working on one with a partner for a while...(we just got to break even with about 200 subscribers at $30 a month)
Here are some of our mistakes that really really slowed us down:
- we went with a CRM that was smaller and not a major company (issues with API and slow responses from support)
- it's in another language that neither of us speak (slows support and tech)
- we outsourced tech 100% (I think in house would make things move much faster, our product is software based)
- we are relying on 1 traffic source at the moment only FB
Some things we did well that really saved us so far:
- didn't go 'HOLY SHIT CONVERSIONS!!!!!' and spend thousands a day on ads only to find issues that would result in CB or refunds and losing merchants
- several mids to spread risk
- automated most things so 1 person can run the company easily (takes a lot of time)
- looked at it as a 'big business' that can be replicated with other offers (this took time but paying off now)
It definetly has taken a lot longer and a lot more money then we both planned! But it's a lot of fun and hopefully pays off soon.
Thanks guys. Keep the info coming. This is more of a physical product, not a digital.
Something like: http://odigger.com/preview/20369374/ but better
__MCR__, here's a couple of things to keep in mind, especially if running a physical, continuity offer:
-When starting out, don't worry about being profitable. You are spending money for data. You might only buy 500 units at a certain price, but base your break-even on tiered pricing, like 5000 units or 50k units. Use the tiered pricing on your calculations for product cost.
-In the beginning, do everything in house, including fulfillment and customer service. This is where 99% of companies blow it. They want to immediately outsource everything and miss the opportunity for feedback. Answer the phones, talk to customers, send the packages out, etc. You'll learn more why people buy, don't buy, return, etc from this.
-Constantly test upsells and back ends. Again, talking to people (yes, picking up the phone and talking with customers) will let you know why people bought, etc.
-Once you have your funnel established, then grow slowly. Make sure you have product in stock before advertising and your cm (contract manufacturer) can supply if you scale.
-Add a telephone number to your websites (and provide affiliates their own numbers, too). Your sales will increase 30% or more. Use an IVR, but live ops work, too.
Good luck.
Hey _mrc_
Id be glad to help you with anything related to starting your won product.
I currently have a couple of products that I'm running and managing.
Breesntiroxin.com/v7
testorushrx.com/trail
extremefxenhancement.com/offer/
I have been given the opportunity to run my family own business and expand its product line to the online world. It may come to a shock to many, but the my family has never done online advertising for the last 20 years that it has been in business. Our business has done great in direct mail and sex hotlines, so the bosses just decided to stick to what works. So i was given the task to take what my family has worked hard in creating and expanding it online.. finally these guys wake up and smell the coffee 
.
Well my journey, was not the easiest but I could defiantly say it was easier then many because the experience and knowledge that was passed down to me, helped me make better a decision and to roll out products faster.
The three site mentioned above took me 4 months to roll out. Designed them myself 
All of them with multiple MIDS, Call center scripts, fulfillment services, Customer services, charge back management, Customer management, Re-bill management.. the list goes on.
If your going to go into Re-bills, cash flow is key. Watch out for those wicked reserve rates the MID have on high risk level accounts, always keep the charge back ratio as low as possible (easier said the done).
Make sure to calculate cost before jumping into an investment. Also ask around for industry standard retention rate and return rates. Those will help you evaluate cost and set a price point that will keep you going. I have a good excell tool that I use PM me, and ill send it over.
what type of offer?
I've done all types.
recurring memberships
info products
physical products
supplements
- what shopping cart to use? WHMCS?
depends what you're doing.
- what system to manage orders? How to handle shipping etc
the cart manages it... shipping done via fulfillment house.
- any additional insight on setting up/running offers
Steer clear of WHMCS for a product. That software is not built for what you're looking for.
Limelight, Orange CRM are good ones as well as Magento and OS Commerce which you can customise completely to make it run however you'd like.
Definitely start small, test the market first and then scale. Keep control of everything you possibly can so you can maintain quality (do everything in house if possible).
we used ultracart for our weight loss offer.... very customizable order pages....
If anyone needs help with fulfilment in Australasia pm me
Hey fatmach I was trying to send you a PM for the excel tool you use but it says your inbox is full and can't receive more PMs right now.
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