When it comes to making money online, there are snake oil salesmen and there are people who silently build multi million dollar business without peddling ebooks and boasting about their successes around the affiliate marketing community. One such is Mike Colella, and he is the real deal.
I first heard about Mike from Andrew Warner’s Mixergy interview and I remember this particular interview because it was the one that really convinced me there can be a million dollar business in affiliate marketing. Mike made his $4.5 million fortune without building a single website.
I’m convinced about the benefits of doing display advertising. For one, you are not in a bidding war on search terms, as with the search networks. The game is in creating the best ad, paired with great site placements. Secondly, there is so much more traffic that scaling won’t be an issue as with PPV. Third, I would rather direct-link an offer than build a landing page.
Mike’s strategy is simple, find a hot offer, make a great ad, and put the ads on traffic that converts well. All without landing pages.
And so a few days ago, I saw an email from Nana of Tracking202 about a webinar with Mike entitled “Secrets of a Multi-Million Dollar Pay Per Click Marketer“. I immediately signed up.
Woke up very early this morning and attended the best webinar ever. I’m glad I didn’t miss it.
Here’s what I learned:
There are 3 factors for success in the Content Network:
- High converting offer or landing page.
- High converting ad copy.
- High converting sites or placements.
These 3 things, when executed correctly will bring massive traffic and profits. However, do one wrong and YOU WILL FAIL.
Mike is known for having promoted the TruthAboutAbs program from ClickBank. He mentions that on average, it takes 500 clicks to get a sale. At $0.10 per click, it would cost $50 to get sale. When the offer is only paying $30 per sale, you are barely breaking even even at $0.05 per click. Most affiliates are in this boat.
So how did he eventually profit from this?
He realized that conversions can be optimized by creating better ads and placing these ads on better converting traffic. Mike gets conversions for TruthAboutAbs on less than 100 clicks.
Let’s break down these 3 factors
Step 1: Find A Hot Offer
Find hot offers that you can promote. You can spend about 2x to 3x the payout for testing an offer. When choosing ClickBank products, a gravity above 100 is usually a good indication.
You can also find hot offers by trawling the content networks for ads that consistently appear. AdBeat can also make this task a lot easier.
Step 2: Create A Great Ad
Mike mentioned these 3 books have helped him. Tested Advertising Methods by John Caples, Scientific Advertising by Claude Hopkins, Influence by Robert Cialdini. I’ve read/listened to these books and they are great. They should be a part of an ad man’s bible.
Mike goes on to say to launch at least 4 ads with different angles in each. For example, when promoting a dating offer, one angle could be “Find Your Soulmate” and the other “Find Hot Chicks”. Both these ads will appeal to very different demographics.
Step 3: Find Great Site Placements
Use media planning tools to figure out where to display ads. There’s Google AdPlanner, Quantcast, Alexa, Compete. Alexa and Compete have clickstream data and this can be important in finding out where people are clicking from before landing on an offer’s landing page.
Some advice from Mike:
- Don’t promote scammy offers.
- Be careful with AdWords slaps.
- Focus on “evergreen markets” such as diet, dating, health, debt, lending
- Become an expert in at most 2 traffic sources.
- Become an expert in at most 2 markets.
Again, you need to know the HOT OFFERS, create HOT COPY, and the sites where people are READY TO BUY. Offer, Ad, Placement. If one of them is “off”, YOU WILL FAIL.
Thanks Mike and Nana for a great webinar.
Of course Mike probably wouldn’t be doing this just for charity. He’s promoting AdBeat, a Content Network ad scraping and tracking platform to make competitive intelligence a snap. It’s a very powerful tool that will give insight into succesful campaigns and even show you what ad-testing other advertisers are doing. I believe this product is a game-changer for the internet advertising industry as it makes advertising even more efficient
For a limited offer until March 8th, 2011, Mike’s offering a full year’s subscription to AdBeat, an affiliate training series, a private forum access, all for $1,497 a year.
So what do you think of Mike and AdBeat?