How To Make Money From $7 Reports - Get Money Even When You Give Away the 7 dollars!

Is it possible to make money selling simple $7 reports? Or is the idea just another scam and rip off? Well it's not a scam (you'll see why). Can you make money selling them? That depends on a variety of factors I'll talk about here.

This report is designed to tell you the "bottom line" about how this strategy works and help you decide if it might possibly be a technique you can use with your online business.

The idea behind $7 reports is that people will often purchase products and services if they are reasonably priced - especially during an economic downturn.

While they may be afraid they can't justify the expense of a $10, $20, or $100 information package, many people know they can easily spend $7 at Starbucks and have nothing to show for it except a "milk mustache" (if that much!).

I know one long term experienced online marketer who has a division of his business that does nothing except identify and then market reports, videos, and/or software that he can sell to people for $7 because of this pricing factor.

I'll bet at this price point, there are virtually no refunds sought either...if you can't create a report or information package that someone thinks is unique and helpful enough to more tha justify a $7 fee, you may need to seek another business.

Elsewhere I've written about "The Man Who Lived On Five Dollar Bills". This was before he could make his living online (which he does today). But after a personal financial crisis in his own life, for quite some time the money that kept him afloat before he could get back on his feet as a network marketing entrepreneur came from people purchasing information packages that he sold for $5.

He took the information he'd gained over a lifetime's business experience and packaged it into a series of reports, free consultation coupons, and other information that made the $5 price a "steal". This was back when $5 was "worth something" of course but his offer seemed irresistible for his customer and this money kept him afloat and gave him "breathing room".

The idea behind a $7 report is the same - you're not going to get rich off it, but you're going to get "right now" money with which to -

• Keep your online business going and expand it
• Build a customer base for future offers and relationship building
• Have a product to entice affiliates with so they will help you build your business too.

If you check out the story of "Paulette Ensign" sometime (Google it) you'll learn that she built a whole business around tip sheets. Your goal is to get a foothold and build.
Perhaps like that savvy online marketer I mentioned, you'll have one segment of your business devoted to $7 reports that offer great value for a small price and this will even become a significant profit center for you.

Here's how it works in it's most basic form:

1. You identify your niche market(s) and the keywords that seem to attract "buyers" in that market.
2. You create (or purchase the rights to or compile several of these products) an information product. It can be text, videos, mp3's, software or a combination of these things you make available in a "zip file". For best results you must know your market and what your likely customers will consider to be a "superior" value for $7.
3. On your website you install the software that allows people to purchase your product through PayPal (it can really be whatever price you set... $5, $9.99, or whatever you find works best. $7 is just a number that works well for many products.
4. You create an information page that "sells" your information product on your website.
5. You drive traffic to your website's "Sales Page" through search engine traffic, pay per click traffic, or a combination.
6. As you make sales, the affiliate script software lets PayPal collect the money and "deliver" the product.
7. During the sales process you can ask people sign up for your email list or - as your customer now - you have the right to contact them from time to time with future updates as long as you don't abuse it. You should indicate your privacy policy on your website. I recommend you tell them you'll never rent, sell, or otherwise divulge their personal information - and that you keep that promise. (In other words for this step, you'll need some sort of autoresponder system to do some email marketing.).

Ok, that's the basic plan.

Now the software I recommend will do much more however.

This software allows anyone who purchases your information product to immediately recover their investment by selling it selling it themselves. They keep the $7 themselves!

Here's where YOU say - "How do I make money if I give away the $7!"

There are 3 answers to this question.

First, even though someone else is getting the $7 commission, you can still getting the contact information from the transaction so they can be added to your email list. This means you have the opportunity to market other products and services in the future.

Second, depending on how you set up the information product, there may be affiliate links and other ways to earn money inside the report that make you money.

Third, the affiliate script software is designed so that even though your affiliate keeps the $7, you will make a "One Time Offer" for a larger information product that sells for $20 or so (whatever you decide) to take advantage of the customer's demonstrated willingness to commit to the information you provide. You not the affiliate keep 100% of these sales (less PayPal's fees of course).

The third option of course requires you create a larger information product that is related to the $7 report but which is ample enough to justify an additional sale.

Ok, what are the pro's and con's of this approach?

Though we don't use the Yellow Pages much any more, did you know you can still learn a thing or two from them?

When you check the display ads, often you'll see a local store featuring the logo for a name brand product.

Who pays to display that logo? Usually the company being advertised helps pay for the ad.

Let's say you have a track record for selling your electronic product. 

If the people you reach are of interest to someone already doing advertising in that market, go to them and offer to sell a prime ad placement in your ebook for  set fee or even a "fee per download" to be billed later (I'd try to charge a "retainer" up front).

Then submit regular records and give the advertiser updates (and subsequent invoices hopefully!) If they quit later, re-edit the ebook!

What do these advertisers pay for just ONE CLICK from a targeted lead on Google?

That's easy to find out.

Couldn't you charge half as much - or a quarter as much?

You never know till you ask!

That's a back end profit technique most ebook marketers never use. 

Like everything else in life, this strategy has pro's and con's.

Pros

• This strategy does NOT lock you in - you can still use other strategies to make money online. Remember the man for whom $7 products are a "profit center" within his larger business.
• This strategy can put money into your PayPal account very quickly.
• This strategy can build your email customer list very quickly.
• This strategy can put many other people to work for you because they want to make $7 per sale. (You make money through the customer list, affiliate links, and a "One Time Offer".)
• This strategy can be repeated for an infinite number of reports. As they say, you can "set and forget" and keep seeing money come in if you are successful.
• This strategy works even during "hard times" when people don't want to waste their money - exactly when you need it to work!
• This strategy finally lets you start selling your own products instead of constantly selling what others produce. You finally have control of your own product and won't have to worry about selling other people's "junk".
• At $7 there are very few refunds. If there are they are handled by pushing a button at PayPal.
• Because these are digital products delivered automatically, you have no overhead, no handling, no shipping, no warehousing, and very little hassle.
• Because this method uses PayPal, you don't have to have a "merchant account" and "credit card processing".
• Because this is online, you don't have to talk to customers or manually process sales. You really could "make money while you sleep".
• Other than your website, it only costs $7 to get started!

I would be less than honest not to tell you the downside or "cons" of this approach.

Cons

• You have to have your own website. That can get expensive, but I've known some to get started with this resource.
• You have to install the software on your site following simple instructions or pay someone to do this for you (the software seller offers to do this for a small fee).
• You have to be able to assemble an information product and possibly two if you're going to use the "One Time Offer" strategy. Some people are terrible at this and either give up or pay for the rights to sell an existing product.
• Not everyone who makes a $7 purchase will buy the one time offer. So don't assume you'll make money up front whenever a product is sold.
• You have to be able to drive traffic to a website or know where to find people who can (one ideal method for finding affiliates would be to make a "Special Offer" of your product on the "Warrior Forum". There are always hundreds of people there interested in making money if they think your product has value.)
• There are never any guarantees how much money you'll make from any given project - as with any endeavor.
• Unless you just start out with the Warrior Special Offer strategy, your money making ability is limited by your ability to drive traffic to your website. If you're using Pay Per Click ads like "Ad Words" you could really lose alot of money if you don't know what you're doing. (I speak from personal knowledge!)
• If you get crazy busy, you could have your PayPal account suspended if they suspect fraud of any sort. This is a possibility I need to mention, but frankly you and I would probably be luck to have that problem. it's less likely to be a problem with $7 reports. And if you are making the sales through affiliates, it may be even a less likely issue since their accounts handle the initial sale.

I'll add to these lists of Pros and Cons as I think of them, but I think this is a pretty complete and honest assessment of the relative value of $7 reports.

I'm just brainstorming here, so this list isn't necessarily exhaustive or complete.

Who could benefit their business by selling $7 reports?

Basically any product has information that might be able to be packaged with it to tell you how to use it most effectively in some way. 

Let's think out loud....

• Tourist attractions, chambers of commerce, restaurants could sell a bundle of discount coupons with a high nominal value for $7 or less to build up a potential customer list.
• Ebay and Etsy sellers who sell hard goods could make an information product. One man who sells beautiful wooden crosses that are cut by a CNC machine has a website discussing the process... why not sell a $7 report too for interested customers who may want to try their own hand at this artwork?
• I just bought replacement parts for my "psaltery". He could assemble a set of videos, text, mp3's etc. to sell to people who find his site online but don't know if they're smart enough to learn how to play.
• "The Man Who Lived On Five Dollar Bills" built a network marketing business through that information product. Could that happen through a $7 report? Possibly.

Here's where to get the original report on making money with $7 reports plus how to get the FREE software package worth over $47!

$7 Reports

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