Milk Your Cash Cow
Now Gitomer is talking about picking up new business & sales, but the same goes for your own projects. If you haven’t maxed out something that’s working for you, why are you moving onto something else already?
Last November, I had figured out a way to really kill it in the CPA space. Now, maybe not as much as some people, but November made for a very nice Christmas around here. I shared this technique with a select few other affiliates, and if they did the work (shocker! You must work to make money!) they, too, were making good money (to me, good money = more than a 9-5 job). It was a nice little holiday bonus for all of us.
Once I found how to make it work, I developed 47 websites to promote it. I was able to launch a new campaign in about an hour (buy domain, build site, set-up tracking, set up traffic source, repeat). I didn’t stop at one or two sites. I had found something that worked, and maxed it out. I was milking the cash cow.
However, part of the technique lead to chasing offers, which got old quickly. After 4 months, I was done and stopped promoting this method. I thought about turning it into an e-Book or online course, but figured the other CPA affiliates wouldn’t like this. It’s still a thought.
It was also during this time that I developed my coupon site, and it was a nice addition to my daily revenue stream. At the time, it wasn’t much: about $40 per day. But once I scaled it up, I tripled that. Then I doubled the new number! I’m not sharing income to brag… all of the income & expenses for the site were outlined in the sale that recently closed, unsuccessfully. But I’m showing you that if you find a small success, figure out how you can make it bigger!
AdWords then stopped my impressions (something I’m working on fixing). There goes $200+ per day – just like that! Sure, the site isn’t dead – it still makes something. But when it was working, I should have been working it! I had over 600 AdGroups, but could have had that over 1,000. There’s so much more to do on this site, but now a major traffic source is dead and it’s going to be harder to expand the site to where I want it, but I know I’ll do it!
I’m writing this as advice to you, but also as a reminder to myself.
When you have a cash cow, milk it!