Building A Music Site ... This Strategy Is Also Applicable To Many Other Niche
Question - I want
to build a site around music and a system I've developed
that aggregates people's songs into an easy to find
format. Could you give me some specific tips on how I can
monetize it? I'm not sure which niche within the music
industry to focus on...
I think you have a wonderful opportunity here because most people enjoy music to some degree and the music industry online is growing all the time.
I'd start your brainstorming using the generic word 'music' and then look for niches within that broad topic where you can most likely build pages that will rank well at the search engines.
You could build pages focused on the potentially most profitable music topics the
Brainstormer finds for you (because lots of people who listen to music will be prospects for your system) and then
offer your visitors a mini course that outlines the benefits of your EARS system and how it can make organizing the music in their lives easier.
For all the information you need on creating profitable mini courses, see
Jimmy Brown's 'List Profit System' inside
his List and Traffic
I haven't heard of your product myself (and I'll bet neither have most people as yet) but by capturing their attention and then telling them all about it, what it can do and how it works in your mini course, I'm sure that many of them will see it's benefit.
Your most wanted response would be to get as many of your visitors as possible onto your mini course list so you can contact them several times and build a relationship with them over time.
As you do you will be educating them on the benefits of your system and many of them would ultimately purchase from you.
You can also either develop additional products that complement your system or offer related affiliate products both on your site and in your newsletter.
As far as protecting your concept goes, other people will probably copy it once it becomes popular, it's a sad fact of life unfortunately.
Here are my suggestions.
1) Make it easy and profitable for affiliates to sell it for you (I.E. price it so that there is a decent affiliate commission available rather than trying to sell it cheaply yourself and give your affiliates marketing material they can use to promote it).
Even if you give your affiliates 50% or more of your profit they will drive traffic to your site, these people will join your list, and you can sell to them over and over again. You can make a fortune on the back end if you give up some of your profit on the front end.
This would also be a great product to offer through joint venture partners once you've proven it will sell well. You use the traffic your affiliates send you to test the system before you roll it out to your joint venture partners. We'll talk more about this in the future...
If people make a good commission selling something, most (but not all) of them are less likely to try to create their own version...they are just too lazy if they are making easy money :-)
You could also license your product later on so you can keep control of it as much as possible. This is the beauty of the internet, your perceived biggest competitors and potential copy-cats are most likely your best joint venture partners...
2) If possible, improve and update your product occasionally somehow so anyone who copies you is always on the back foot.
That's probably all you need for now.
It's time for some study...
Read The Action Guide from start to finish and then go back and follow along through days 1 - 5.
This is the most important part of your journey. Your new site has massive potential
so take it one step at a time and you should do very well.