Binary options. What do you know about them?
Unless your answer is anything along the lines of “absolutely nothing,” then you know more than I did 30 days ago.
This is a niche I have never touched before. Completely unknown to me. I had no connections. Zero JVs.
And yet, I took a leap of faith and jumped into the unfamiliar niche of binary options.
And I made over $400,000. Wanna know how?
Well, first of all, binary options are basically the closest you can get to gambling online.
The brokers are like casinos, in that they are willing to give out really high commissions (even so far as to make a loss on the front end), because they know that they’ll make their money back and then some from the people that affiliates bring on board.
If that makes no sense to you, then go ahead and Google it.
Forbes doesn’t recommend it.
But it falls into the Holy Trinity of IM Gold – Health, Wealth and Relationships.
So I decided to go for it. And that’s the first point I want to make when it comes to generating insane amounts of money.
1. Find A Hungry Market
It’s all good to pick your passion, but it’s even better to pick something that makes money.
A lot of people may tell you that you should go into an untapped niche. A micro-niche. And dominate the shit out of it.
Honestly, that’s total BS.
Back in the day when I was doing my Warcraft thing, I took that advice. I went into super niche niches like securing your account in Warcraft and not getting scammed or something.
And I dominated. I owned that niche. I was the head honcho of that tribe. And ousted the competition and received all the sales there were to be made.
A grand total of 2 per month.
Not. Worth. It.
If you’re really serious about making money online, find a hungry market. Get into that Holy Trinity of IM.
And then outsmart your competitors.
In my opinion it’s much more lucrative to own a piece of a massive huge pie, than to own a large piece of a friggin’ micro-cupcake.
So how do you know a good offer when you see one? Check out my awesome graph:
As you can see, every time a customer deposits $100 into their trading account, the broker pays out $200 to the referrer. That’s a 200% commission headed my way. Score. From that alone I knew it was worthwhile for me to work with them.
Now it was up to me to make it worthwhile for affiliates to join my team… Which leads me to my next question:
How do you outsmart your competitors?
2. Give Them An Offer They Can’t Refuse
When I first went into the make money online niche, I knew no one. And no one knew me.
But I got myself noticed by the big dogs. Either by becoming an affiliate for their product and making them a lot of money or attending seminars, conferences and workshops to actually approaching them in person.
From there I proposed JV partnerships.
In a nutshell I would do every damn thing that needed to be done from start to finish, while they relaxed. And at the end of the day, they receive an even 50/50 cut of it all.
With binary options, I knew I had to step it up in order to outperform the seasoned veterans in the niche that already had experience, followers, leads and partners.
In order to do that I went the extra mile.
As you can see from the awesome flowchart I drew above, I could have kept $100 for myself and given out $100 to my affiliate. But 50% commissions just don’t cut it anymore. The industry standard is a minimum of 75%. So I knew I had to top it if I wanted to get anyone on my team.
And that’s why I only kept $5 to cover my costs and paid out $195 to the affiliate. That was as close to 100% as I could get.
You may think that’s crazy. But look at this from an affiliates standpoint.
It’s the exact same offer.
One guy is offering you $150 per customer you bring in. The other guy is offering you $195 per customer. Who are you going to work with?
And that’s what I mean when I say, give them an offer they can’t refuse.
Affiliates were falling over each other to get on board…
As you can see, although my total revenue surpassed the $410K mark, my total cost was just under $400K. So my actual profit is only around $16K.
You might be thinking, “what the ef, that’s retarded Peng Joon…”
Wait for it…
3. Build A Goddamn List Already!
At first glance it doesn’t look like this binary thing is worth the trouble.
And that’s why in order to be a great marketer you need to always focus on the long term… I love a big back end. In more ways than one.
With binary options I grew an impressive list of over 60,000 leads in less than 30 days.
And as cliché as this sounds. THE MONEY IS IN THE LIST.
My team and I are now following up, cultivating, nurturing and building relationships with these leads. So that in future we can promote other offers to them that will give them what they’re looking for.
As a general rule of thumb, you can say one subscriber on your list is worth $10 a year. And I received over 60,000 in two weeks. Remember that these people, if looked after properly, can potentially stay on my list for years to come…
So you do the math.
There are many ways of building a list. The traditional ways include article marketing and forums. These methods work. Don’t get me wrong. I’ve done them all. And I’d get around 10-15 leads per day.
But if you want to take things to another level, then you need to step up your game and think outside the box.
Actually, scrap that. I’ve just given you the thought-process so far beyond the box that the box is just a dot.
What are you waiting for?
Don’t Be Afraid Of The Unknown
Find a hungry niche where the market is and the competition is high.
Outsmart the competition by giving away nearly everything to your affiliates so you become the only logical choice.
Be willing to lose on the front end in order to profit in the back end.
And build your email list.