In contrast to the numerous “I am new to the Internet, I have no money and I don’t have a computer (I’m typing this to you at work), I want to make a full time living online as a Super Affiliate. Please advise me” emails I received [Do send me the answer to that because I don't have a ready answer...], I’ve got a more realistic question this week:
I am willing to learn, I have bought a number of ebooks, and have made a few affiliate sales (about $50-100 worth of commissions each month), but at this rate, I doubt I’ll be able to quit my day job and live on my online income anytime soon. What do you suggest I buy next and how much do I have to spend before I make a full time online income? Thanks!
Here’s a list of what I bought:
[A list of about 5 ebooks follow. I'm guess she's spent about $300 on them]
It’s encouraging to see new Internet marketers take responsibility for their actions and I think the fact that you’re generating sales from your website each month shows that you’re taking consistent effort.
To make the gap between generating “hobby money” (I define this as less than $2,000 a month in online income) and a living based on your online businesses means that you need a couple of ingredients:
Have you defined what income level you’re aiming for? ($1,000? $10,000? $100,000 per month?). More importantly, have you listed the amount of time and resources you’re willing to put into this?
Most new marketers write down a $20,000 a month goal when they start out, and they put in barely 2 hours a week into their business. There’s a serious effort-reward gap in the equation…
An online business still follows the effort -> result equation. You don’t just need to dream big, you need to put in the sweat equity at least in the early stages.
Do your research before you begin. What niche are you going to focus on? Is it a niche market? Is the demand sufficient to sustain your revenue (and profit?)?
Is it a competitive market? Can you compete effectively?
What’re your monetization strategies? A goal of 100 Adsense clicks a day might be a good start, but are they only paying $0.10 a click? Are there affiliate programs available? Would you create your own product?
Once your research has concluded and you’ve decided on your business model, you need to be focused and consistent in your efforts. There was an Internet marketer who built their blog up to about 500 visitors a day, she left for a 6 week vacation and the visitors dropped to about 5 a day when she returned. It took another couple of months to build it up to her pre-vacation traffic level.
- Go Beyond Costs, Focus On Results
Here’s one takeaway from my buddy, Amit Mehta’s post “What’s Your Investment Plan?“, you need to figure out what your expect return or result is from any investment you make…
It’s not just a cost issue, you need to take stock of (more…)
Dear Fellow Niche Marketer,
Like me, you probably have heard of the buzz surrounding Britney Spears’ performance on the MTV Video Music Awards.
You would have heard the critics’ criticism that she looked like she had piled on a couple of pounds, and her outfit looked something reminiscent of what a working lady might wear walking the streets.
Additionally, you might also have read about how she was huffing and puffing (more…)
I got a question via email recently which reasonates with a lot of emails I get:
Hi Andrew stumbled upon your blog through a ewen site, mind you I was researching on how credible internet marketing was and if they were scams, so I have a few questions to help me understand and hopefully make a decision
How realistic would the rabid niche cash machine work, what is really involved? lets talk about money what are the realistic figures of profits on using this product, I dont fully understand how this would work and what creates profit. How much time do I need to input to see a decent return. I would really like to know if this is a proven method and someone like me could be able to use this and eventually become financially free, its all good to say buy the product and find out, but a little more understanding and some peace about this would help me 100% to make a final decision, $30 may not look much to you but for me at this moment in my life its alot, any help and more understanding will be genuinely appreciated, thanks so much for your time and look forward to hearing from you
Lots of questions have been raised and I’ll do my best to address each point.
“how credible internet marketing was” – Internet Marketing is the broad name given to what was known as “e-commerce” previously. Internet Marketing is as credible as any other broad field like “advertising” or “engineering” or “biology”…
You have the big players like Amazon, eBay, MySpace, Friendster, Google, Yahoo!, and you have the smaller Internet Marketers and Internet Marketing business/companies.
Your question can be (more…)
Internet Marketing like biotechnology, finance and engineering ranks as one of the most intellectual property-intensive industries to be in. With that in mind, shouldn’t you be striving to develop as much IP (intellectual property) as possible?
Newer marketers may know, but fail to incorporate the concept that information is the true currency of the Internet.
It could be something as simple as knowing the URL for an open source software, or something more complex like the techniques of breaking into elite Internet Marketing inner circles. If you don’t know where and what and how to do something that will help you achieve your goal, you will be severely limited in your marketing, and by extension your income generation ability.
As a newer marketer, your core focus areas should be:
- Absorbing as much of the relevant intellectual property assets as is needed to accomplish your goal
- Develop IP assets to help you directly or indirectly generate income (and achieve your financial goal).
Specifically Information Marketers should focus on:
- Understanding their target market and going beyond harvesting relevant keywords, to fully understand their thoughts and needs
- Developing (as a product creator) or recommending (as an affiliate marketer) appropriate and relevant products and services to serve those needs
A maxim I’ve heard recently is that “it’s never (more…)