How 'Smart' Internet Marketers Rake In The BIG Profits
By Jeff Smith
Posted Thursday, October 7, 2004
Doesn't it seem like there are thousands of mistakes you can make before reaching your online marketing goals?
Sometimes you feel that everything in the universe must be aligned absolutely perfectly, only then can you finally sit back and watch the money roll in - am I right?
Well, truth is, it's not that bad.
If you are like me, when you understand that there are only 3 common mistakes that limit massive success online, you can grab onto this bugger and really make something of it.
Even better, it's easy to avoid making these mistakes in the first place, if you know what to do.
FIND NICHE DEMAND FIRST
It's still quite common to see motivated, hard-working product entrepreneurs release products that simply do not tap into a strong enough desire or need - what I term "niche demand".
It's not enough to locate a niche market. It's not enough to pick a topic because "you" think it's important to a particular market. It's not enough to pick a topic that is moderately interesting to your market - no...
YOUR TOPIC MUST FILL AN EXISTING, HIGHLY EMOTIONAL, DEEPLY FELT DESIRE WITHIN YOUR PROSPECTS
Get this right, and you will have a never-ending, automatic flood of product sales.
Get it wrong, it won't matter how hard you work, you will never reach your goals.
You can find these desires and needs within your market by searching out REAL desire, passionate discussions, repetitive requests for information, existing spending patterns and many other techniques you will find summarized here: (http://www.infoproductcreator.com)
ATTRACT TRAFFIC LIKE BEES TO HONEY
Actually, there are a few common mistakes to avoid when you launch your website.
1. Assume that you build it and they will come. Instead of thinking about your website launch as an "opening of the floodgates", think of it in terms of the gun signalling the start of a marathon - a marathon that will take many stages to win, but once won, a sweet reward.
2. Thinking that all traffic is made equal. You cannot fool people or convince people to buy your product - what you want to do is develop a product to a desire and then get as many people with that desire to come to your website.
3. Inconsistent traffic generation. Don't just write 1 article, form 1 joint venture, 1 pay-per-click campaign, sign up a dozen affiliates. Find ways to master many different traffic generation techniques - and keep testing them until they are making you a significant profit. That means, write an article a week, sign up 5 joint venture partners a month, run many pay-per-clicks until you find the most profitable, and son on.
So - the secret to generating lots of traffic AND converting that traffic to sales is to have a plan, stick to it, test your results and continue to improve the plan - day after day, week after week, month after month.
It won't take long for you to start seeing improved results.
INCREASE YOUR PROFIT PER CUSTOMER
Quite simply, smart internet marketing means you know how to get more and more out of the same customers while continuing to leave them wanting more.
Increasing your profit per customer implies you are tracking results to understand:
1. What percentage of visitors become buyers,
2. Which traffic generation tips produce the most return
3. What your profit per customer and profit per visitor is.
This last one is important.
Here's my experience drawn from people I know and my own consulting clients:
- Less than 10% of marketers understand what percentage of visitors become buyers (I'm even being a little generous here)
- Less than 2% are tracking effectiveness of all incoming traffic generation techniques
- Less than 1% (way less) have any clue what their profit per customer or profit per visitor is.
So - before you can even begin to track different techniques of increasing your profit per customer/visitor, you have to start - right now - tracking your profit per customer/per visitor
Two quick formulas for you to run on a weekly basis:
1. Profit Per Customer:
Total number of customers in 1 week/Total $ Profit in that same week
2. Profit Per Visitor:
Total number of visitors in 1 week/Total $ Profit in that same week
3. Profit Per Campaign
Total number of visitors from campaign X/Total $ Profit from campaign X
What would a campaign be?
Simple - ANYTHING that brings you traffic!
Could be Pay-Per-Click, ezine advertising, articles you write, joint ventures, affiliates, forum posting, etc...
It's not enough to be tracking traffic from each campaign, if you are serious about improving your online marketing, you MUST start tracking the RESULTS of your marketing.
Even the top selling smart internet marketing professionals do not get it right the first time - and often not the second, third or fourth times either.
Start with a product that meets strong demand, work hard to drive targeted traffic and test your conversion, constantly improving your results.
Now that is smart internet marketing.
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