How to Make More Money from Your Existing Product

Jim and his business partner created their first product four months ago. The product show people how to solve a problem related to a pretty expensive niche. They both understand the importance of researching and testing but unfortunately they made a flaw. After the product launch they redo their calculation and found out that it would cost them over $400 to get 100 quality and targeted visitors to their sales page. They sell their product for $45 and since a huge number of the visitors do not buy the product their profit is very slim.

Jim is beginning to think that he and his friend entered the wrong niche. Even though it is a niche they are knowledgeable about and the product is great, the marketing side appears to be too expensive.

If you found yourself in similar situation as Jim here are some things that you can do:

1. Get cheaper source of traffic.
In this regard you can use article and video marketing. These two are some of the cheapest source of free but highly targeted traffic. Another good thing about these two is that the traffic is almost instant. You create an article or video, distribute it on some article networks and video distribution sites then you can watch the traffic coming in. That is if you know how to write decent article or create a useful video.

Another source of traffic is online classified ads like Craigslist, Backpage and Kijiji. You should know that using classified can be time consuming because you will need to post regularly in multiple cities and categories to get decent traffic but when done correctly it can be quite rewarding.

One recommended solution for cheap traffic is to start an affiliate program. If you offer a generous commission to your affiliates and spend some time to build good relationships with them you will have a truckload of people sending visitors from all over the place.

2. Convert more visitors into buyers
If you initially need 50 visitors to make one sale keep tweaking your sales page until you can get one sale for every 45 visitors, then 40, 35 and so on. Follow these steps to make your sales page convert better:

- Slap your product's biggest advantage in the headline. What kind of problems does it solve?
- Spill more benefits in your sales page body.
- Sprinkle testimonials, proof and pictures of anything that show tell your visitors that your product delivers exactly as your promise.
- More call to action in the beginning, middle and end of your sales page.

2. Make more money per customer
If you spend too much money to get one sale you could try to squeeze more money from each customer you made. You could do this in several ways. One way is to increase the price of your product high enough so you make more profit from each sale. You will need to spend more effort to convince your prospects that your product will do them much more good that it cost.

Second is to develop a series of products that you can sell your customers over and over again. Each product may only give you small profits but in series the money add up. The third option is to turn your product into a membership type website so you can make money from your customer each and every month.