In today's Internet Marketing Newsletter...
Wait! Don't
Wave The Web Business White Flag Just Yet...
With a large, active subscriber base, I get a lot of email. And
I like helping people with Internet
marketing. But there's one type of email I hate.
It's the email I get from people who are giving
up. Many of them are closer to success than they realize, and I
hate to see them give up. If you've ever considered waving the
white flag on web business, you need to read today's issue.
Serious Income Requires Your Own Products
Here's the
secret resource being used by many of the gurus you know...
(They won't admit it, but more than likely,
they use this.)
Get Serious. Get Your Own Products.
I
would like to start today's issue with a story of someone who could have easily given up.
This is a real
person who was fairly new to online business. This person is a
member at one of the private, paid niche blogger forums I belong
to. This person started a new blog at the end of last year in the hopes of earning some
decent income.
After three months
the blog had made a grand total of $13 which after hosting and link
building costs, resulted in a small loss.
This person easily could have
moved onto something else or thrown in the towel completely.
They didn't.
The next month the site made about $20, again, a small
net loss.
Finally, in month
five, the blog went into into profit, with an $85 month.
Big deal, right? I
mean, what can $85 really do for you nowadays? Well, keep
reading and you'll see.
This 4x rise in
income, despite being just $85 in profit, gave this new blogger confidence and
renewed spirit. They started working harder by posting more and
getting more links.
The next month the
blog climbed to $300 in profit for the month. Ahhh... things
were beginning to get interesting!
The month after
that, it brought in $900.
Would a new $900 a
month income source help you? What about the approximately
$10,000 this blog would likely sell for at flippa.com? Would
that make a difference for you? What if
you could repeat the process with other niches?
Now don't worry, I'm
not going to try to sell you anything that promises you how to
do it. In fact, I'm not going to try to sell you anything at all. I only
relayed that story so I could show you how hard work and more
importantly, patience can pay off.
This person did not give up
after seeing almost no results for months on end.
Sadly,
too
many people give up on their web business dreams too early.
Some of them have a good reasons,
but many of them simply quit too early.
Before you make the same mistake
and give up too early, I'd like to share some stats about web
business that may surprise you. When you see these stats you'll
understand why most gurus don't share them. (They're afraid
if they do, you'll never buy their business opportunity or
program!)
These stats I've
compiled over the years from my own experiences as well as many
of my readers shared experiences. These stats or similar stats apply to most businesses
online.
Now I have to warn you, these
numbers may seem dismal at first glance. But once you understand
and accept them, you'll see why success online takes time, and
stick-to-itiveness.
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Stat #1: Clickthrough Rates
Let's take banner ads like the
tower ad you see over there to the left of this newsletter. The
average banner ad clickthrough rate nowadays is, get this...
0.19%. That's one click for every 500 or so times the banner
shows. Wow, that's dismal. It's no wonder banner advertising
costs have dropped so much.
Of course you can get better
clickthrough rates with text ads, sponsor ads and contextual
copy like articles containing links within or at the end. But
even those need to be seen by about 50-100 people to generate a
click.
Stat #2: Email Open Rates
I'm sure you've always heard "the money is the the list",
right. Well true as that is, over the years email open rates
have steadily declined due to high volumes of spam, email
filters to block spam and other email delivery issues.
My own latest stats show that some 5-10% of the people on
your email list will open any given email. Less if you're not
sending quality content on a regular basis. That means if you
have 10,000 people on your opt-in list you can expect 500-1000
to open any particular email.
Next you have to consider that of the 1000 that do open the
message, only 15-25% of them will read the message and go on to
click the link in your email. Now you're down to 250 clicks from
a mailing to 10,000. Yikes, combine that with the next stat and
you can see where the trouble really starts...
Stat #3: Conversion Rates
Did you know that the average sales letter online gets about
a 1% conversion? That means for every 100 people you get to a
sales letter, you'll get one sale. Some sales letters do much
better, but some do even worse. I've had sales pages convert as
high as 14% with the right offer to the right people. But I've
also seen sales letters from affiliate offers I've mailed do 0%.
So, let's go back to the math. I'll use the high end
averages: 10,000 subscribers results in 1000 opened emails and
250 clicks. Assuming a very solid sales letter converting at 3%,
you'd get a total of.... drum roll please.... 8 sales.
Of course if those 8 sales generate a hundred bucks or so
each, and you mailed a different offer once a week or so, you'd
be looking at almost $40k a year. That ain't bad for a "work
when you want" gig.
Choose a model that works for you and start sharing unique
content...
Look, you do not have use the opt-in list model if you
don't want to. I know that's not for everyone. You also don't
have to sell anything if that's not your style. There are lots
of ways earn money with a site or a blog.
You can earn advertising revenue from places like Google Adsense.
You can even earn commissions from other merchants who do all the
selling for you.
But sharing useful info is important. Not only does
good content generate more clicks to the resources you recommend, if
you're loading up a site or blog with unique content on a
regular basis, then search engines will love you. That means
more visitors and more sales, commissions or ad clicks.
But contrary to what all the get rich quick sites and hyped
up sales letters tell you, it all takes consistent effort and
more importantly, time to build a
serious business on the web. .
Despite those dismal stats, I urge you to
stick with it for as long as it takes.
After all, those stats have similar "sister stats" in
the world of offline business. Local advertising is pricey. Lots
of people who come into your store buy very little if anything.
Mailing
postcards is costly and gets 1-2% response if you're lucky.
Inventory tax is high in many areas. Returns are a hassle you
always have to deal with. I could go on and on.
Yet people succeed in brick and mortar businesses all the time! And even more people
make it online.
That's because doing business online is much less expensive.
But just like in the real world, it all comes down to a
numbers game...
The more people who see your site, blog or sales page, the more prospects you
get. The more prospects you get, the more sales or ad clicks you
get, and the
more you earn. And all this takes some time to establish.
So before you give up on your web business dream, consider
carefully just how active you have been in growing those
numbers.
Once you have a content plan in place, focus your efforts on grass roots marketing. There are lots of easy
ways to promote your site or blog online...
- Submit your best content to a network of publishers or blogs
every week
- Find some joint venture partners
- Grow your opt-in lists with quality giveaways
- Try a solo mailing with an opt-in email list company
- Try some low-cost ezine advertising
- Start an affiliate program
When you do things like those regularly, you'll see other
"side effects" develop that increase your traffic and income.
These include word of mouth, social traffic and even improved
search engine rankings.
If you offer fresh, ongoing, quality content that helps people in your niche,
and you share it intelligently, you'll get there.
Yes, it takes work and constant promotion. And it takes laser
like focus.
Just
don't give up too early. Giving up is the ONLY way you'll fail.
Jim
Daniels
JDD Publishing Co.
www.ezwebbusinessbuilder.com
www.make-a-living-online.com
 Jim Daniels
P.S. If you want a more help setting up a successful business online,
this free package of mine will help.
Whether you want to completely phase out your day job like I
did, or you just want to supplement your household income, you
have to start somewhere!
Why not grab this free package right now and start your own
income source online.
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