Who here has built a Bizop product?

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eGod

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I'm looking to speak with people who have built "Get Rich Quick" / "Work From Home" / "Make money online" bizop products.

I'm interested in hearing what they were, and how well they performed.
 


Me and a friend ran 2 offers back in 2004/2005, one was a real estate bizop and the other was for ebay. We setup the online site, did the membership area and all that and did a $1 trial for 7 days and then $20 per month. There was no product to ship since it was all online, the 2 biggest issues we had were customers who thought they would get to sit on their ass all day, do nothing, and still make $10,000 per month would either immediately demand a refund or they would knowingly wait for the first $20 charge to go through and then do a chargeback. The chargeback ratio was never more than 3% but the refund rate was close to around 15% so keep that in mind on what you charge and what your affiliate payouts will be.

The second biggest problem was customer support, most people are in fact idiots and that number greatly increases when you're talking about money, finances, or the internet. No matter what type of product you do or how easy you make it people will ask you the stupidest and most simple questions, luckily there is an army of drones over at digitalpoint willing to work as email support agents for $2 per day so it's not something you'll have to deal with all the time.

The conversion rates on the real estate offer were really good no matter where the offer was promoted, we never dropped below 15% but then again it was a $1 trial so it shouldn't be surprising. The ebay offer on the other hand was more unpredictable, when we first started promoting it we had a converstion rate in the low to mid 20's but that was pretty targetted traffic. Once we out into the "general internet" (less tech savvy) the rate went to 3% - 7%. The retention on the offers was an average of 3 months on the ebay offer and 5 months on the real estate offer, obviously you'll want to release the information slowly and over time to get the high retention rate.

Two quick tips though:

1. Make sure you get a reliable high risk merchant account, anything over a 1% chargeback ratio is going to send a bank card sales agent running in the other direction.

2. Choose what networks you allow to run the offer wisely, even to this day there are networks that are 90% fraudsters that will give you a 40% chargeback rate and get you (or in my case my friend) put on the TMF/MATCH list which is the last place where you want to be if you want to process credit card payments.
 
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ayzo said:
Me and a friend ran 2 offers back in 2004/2005, one was a real estate bizop and the other was for ebay. We setup the online site, did the membership area and all that and did a $1 trial for 7 days and then $20 per month. There was no product to ship since it was all online, the 2 biggest issues we had were customers who thought they would get to sit on their ass all day, do nothing, and still make $10,000 per month would either immediately demand a refund or they would knowingly wait for the first $20 charge to go through and then do a chargeback. The chargeback ratio was never more than 3% but the refund rate was close to around 15% so keep that in mind on what you charge and what your affiliate payouts will be.

The second biggest problem was customer support, most people are in fact idiots and that number greatly increases when you're talking about money, finances, or the internet. No matter what type of product you do or how easy you make it people will ask you the stupidest and most simple questions, luckily there is an army of drones over at digitalpoint willing to work as email support agents for $2 per day so it's not something you'll have to deal with all the time.

The conversion rates on the real estate offer were really good no matter where the offer was promoted, we never dropped below 15% but then again it was a $1 trial so it shouldn't be surprising. The ebay offer on the other hand was more unpredictable, when we first started promoting it we had a converstion rate in the low to mid 20's but that was pretty targetted traffic. Once we out into the "general internet" (less tech savvy) the rate went to 3% - 7%. The retention on the offers was an average of 3 months on the ebay offer and 5 months on the real estate offer, obviously you'll want to release the information slowly and over time to get the high retention rate.

Two quick tips though:

1. Make sure you get a reliable high risk merchant account, anything over a 1% chargeback ratio is going to send a bank card sales agent running in the other direction.

2. Choose what networks you allow to run the offer wisely, even to this day there are networks that are 90% fraudsters that will give you a 40% chargeback rate and get you (or in my case my friend) put on the TMF/MATCH list which is the last place where you want to be if you want to process credit card payments.
Click to expand...


Good info thanks for this---anybody see real estate or stock/ forex offers that are still converting well?
 
ayzo said:
Me and a friend ran 2 offers back in 2004/2005, one was a real estate bizop and the other was for ebay. We setup the online site, did the membership area and all that and did a $1 trial for 7 days and then $20 per month. There was no product to ship since it was all online, the 2 biggest issues we had were customers who thought they would get to sit on their ass all day, do nothing, and still make $10,000 per month would either immediately demand a refund or they would knowingly wait for the first $20 charge to go through and then do a chargeback. The chargeback ratio was never more than 3% but the refund rate was close to around 15% so keep that in mind on what you charge and what your affiliate payouts will be.

The second biggest problem was customer support, most people are in fact idiots and that number greatly increases when you're talking about money, finances, or the internet. No matter what type of product you do or how easy you make it people will ask you the stupidest and most simple questions, luckily there is an army of drones over at digitalpoint willing to work as email support agents for $2 per day so it's not something you'll have to deal with all the time.

The conversion rates on the real estate offer were really good no matter where the offer was promoted, we never dropped below 15% but then again it was a $1 trial so it shouldn't be surprising. The ebay offer on the other hand was more unpredictable, when we first started promoting it we had a converstion rate in the low to mid 20's but that was pretty targetted traffic. Once we out into the "general internet" (less tech savvy) the rate went to 3% - 7%. The retention on the offers was an average of 3 months on the ebay offer and 5 months on the real estate offer, obviously you'll want to release the information slowly and over time to get the high retention rate.

Two quick tips though:

1. Make sure you get a reliable high risk merchant account, anything over a 1% chargeback ratio is going to send a bank card sales agent running in the other direction.

2. Choose what networks you allow to run the offer wisely, even to this day there are networks that are 90% fraudsters that will give you a 40% chargeback rate and get you (or in my case my friend) put on the TMF/MATCH list which is the last place where you want to be if you want to process credit card payments.
Click to expand...

+rep - GREAT POST!
 
Thanks for the input in this thread, Ayzo! I'm more along the lines of finding someone to hire as my Product Manager for my bizop product to relocate to Pattaya, Thailand. I'm proud to say we have successfully gotten around the obstacles you are mentioning in this thread, since the marketing division and merchant process is the company forte. I need someone to come in and bring the product to the next level.

Keep all the info coming and if you are interested, pass that along as well :)
 
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