It is hardly surprising that the popularity of online marketing has exploded over recent years. With its promises of riches using the push of automated money generation software, online marketing and advertising has attracted a high percentage of chance takers… those that happen to be unwilling to put in too much effort (if any) in to turn their business into a strategic and sustainable enterprise.
Building a successful, profitable and sustainable on-line company is not as simple as what the online guru’s may well promise you. But, if you get it right, and are willing to be strategic, re-educate yourself and persevere, internet marketing and advertising has opened up new possibilities for alternative earning streams that may possibly surpass your income from your regular job.
… and that my friend is an incredible thought!
So Why Do A Lot of People Fail to Make the Grade On the Internet?
Long gone are the days where you could go and put any old garbage on the internet and instantly get sales. It’s not that simple as that any more (unfortunately). It needs a whole lot more from you. You’ll need to differentiate you and your company.
Most importantly for any online entity to become profitable, you’ll need to treat it like a real small business. This is exactly where most of the people fail. They have been sold the story of instant internet riches and are repelled by the thought of having to apply sound business principles to their new online hobby.
Listen, online wealth will not occur over night. Yes, I’m confident you’ve read the instant success online stories, but these are by far the exception rather than the norm.
Instead, you’ll need to apply (what Rich Schefren calls) uncommon sense principles to your internet enterprise; they are ‘uncommon’ because few individuals actually follow them. As a consequence, they fail, get frustrated, and say this entire ‘guru’ thing is just a scam.
… so instead of giving up at this point, I’ve got some internet business basic principles for you that I hope you take away and apply immediately.
Basic Internet Marketing and Advertising Strategies
What Do You Actually Want Your Business To Deliver
Is it just a hobby, or maybe it’s your goal to quit your day job and become the next big-time online guru. If so, please set the necessary expectations. Develop a clear vision for what you want your enterprise to become. Will you be doing it all by yourself (massive error in judgement) or will you be leveraging an outsourcing model. If you are currently a full-time employee, when, and how, will you be able to appropriately train yourself and create the contents and the products that are required for your business? These are just a couple of potential hurdles that you simply need to have to face up to in advance of you making a decision that this vital for both you and your family.
Select a Niche that is Profitable and Aligned to your Strengths and Passion.
There are 3 components to this. Let’s begin with your strengths. Irrespective of what business you plan to be in, you’ll need to clearly know what your strengths are and then know how to exploit them. Your strengths are what you do superior to anyone else (very profound). You should delegate everything else to someone else in your team. Now let’s turn to what you’re passionate about. Your passionate is what you love to do – it’s something you would do 24/7 without getting paid for. You do it because it’s fun. Remember that there is no dress rehearsal in life, so you’re better off spending it doing something you are truly passionate about. A subject you appreciate doing all day, each and every day. Because you are passionate about it, you’ll be doing great work. Your customer will benefit from this in the finished solution you sell. Finally, let me concentrate on your profitable and hopefully lucrative niche. Let’s keep it fairly basic. Your company needs to sell products or services that must be profitable for you to survive and grow. On the web, it’s easy to find out which niches are profitable, e.g. online marketing and advertising, fat loss, etc. It is essential, therefore, to not only decide and nurture your strengths and pursue your passion, but you must also choose a niche which is profitable.
Develop a Product Solution for your Chosen Niche.
Many people outsource the entire product creation process. While it is imperative that you leverage outsourcing talent to create particular components of the creation process, I whole heartedly believe in authoring my own material – 100%. That to me is what creates the added value for the customer. It’s what my customers want – not some garbage e-book report that has been outsourced and that I, myself, do not really care about. I am passionate about the topics that I write and speak about. I want that very same passion to come across in my products.
Create a Simple Internet Site, Including a Landing page, Sales Page and Some Real Content.
This really is the techie stuff. Many people enjoy it, many people hate it. If you’re in the latter camp, don’t be concerned. Your site is only a vehicle or medium for you to market your business. There are uncomplicated tools available such as WordPress and Optimize Press that make the whole damn procedure a whole lot bunch easier. And if you’re genuinely struggling, just outsource the entire process. It is uncomplicated and your lack of technical skills should never ever be used as an excuse for not making it!
Write a 100% Free Report (Your Money Magnet) of Incredible Value.
Your visitors need a good reason to come to your website and become a lead on your subscriber list (but more on that later). There are plenty of methods to create a ‘money magnet’ – one of my favorites is to write a cool report that you simply give away on your website in exchange for their e-mail address. Now for them to give their e-mail address, your freebie reports need to be….. simply exceptional. There’s no point in giving out garbage. If you do, these leads won’t stay leads for any length of time. They are going to be searching elsewhere to find their answers. There are no short cuts here – provide something of unbelievable value.
Use Good Marketing to Create Traffic for your New Website and Create a List.
Internet guru Rich Schefren says this repeatedly, I believe the original quote was from Peter Drucker. Here’s what he says about marketing…. “marketing makes selling superfluous”. That’s incredibly effective. What it is fundamentally saying is the fact that if you nail your advertising and marketing, the entire sales funnel takes care of itself. So great marketing is about optimizing every single aspect of the way you communicate with your leads which includes, your individual brand (are you a respected authority), pay per click ads, your weblog posts, your videos, your emails and newsletters, your reports, etc. Getting your marketing right takes time, education and also expertise. This is one thing you won’t get quite right immediately, but once you do, you will have prospective buyers banging your door down.
Develop a Responsive List.
You have, in all probability, heard this one several times already, but in online circles, there’s one phrase repeated again and again…. “the money is in the list”. It literally is, and this business model has been replicated repeatedly online. Your list is your e-mail list – those people who have come to your internet site and provided their e-mail address in return for something you give them of excellent value at no cost (e.g. report, video, etc.). When you’ve got their e-mail address, it is time to develop a relationship with them using an automated email sequence (typically known as an autoresponder, e.g. AWeber). You need to provide them high quality emails that deliver much more value (than the original report you sent them) that drives clicks back to your site. The ultimate purpose is usually to generate that elusive sail. It typically takes about 7-8 interactions between the seller and the lead before the lead bites the bullet and purchases – can you see the power in the autoresponder now?
Make Back End Items to Improve Average Dollar per Customer.
When a lead has bought one item from you, they are (naturally) a paying customer. So long as your product is of high value, then they are very likely to purchase from you once again. Most of the online gurus have what’s known as ‘back-end products’ that allow incremental sales over and above the initial purchase. Think Amazon and you will know exactly what I mean. It is the very best method to raise the average consumer value (i.e. how much on average any one of your customers spends).
The whole ‘online thing’ can appear somewhat daunting at initially glance. And let me be clear, to be an online marketing success is far from straightforward. But the beauty of generating an online business model is the fact that it requires minimal investment. It has created a level playing field. It is possible to get a basic website generated for your needs for less than $100!
I’m going to leave you with one final piece of advice. It is the one factor that actually got me thinking appropriately about what I was attempting to achieve on-line. It is from Rich Schefren (again) from Strategic Profits and is taken from his classic Internet Business Manifesto report.
If you are an opportunity seeker, you are destined to fail online. Forget the bright shiny buttons and automated cash generation push button software.
Instead, you need to become a strategic entrepreneur. It is a real business. Perhaps you should treat it like one!