Many people who have internet businesses assume that the only way to marketing their online business is through the internet. If you have an online business, I'm sure, just like me, every day you receive emails from the internet "guru's" showing you new ways to build your list. Internet marketing co-ops have grown in popularity over the last couple of years, as well as many internet marketers who sell you lists, sell you access to their email lists, or who "guarantee" 5,000 or 10,000 unique visitors to your site. Any of these avenues can offer success. But very often, internet marketers are disappointed at how few actual buyers come to their site through these services, when other people have had success. As an internet business coach, I very often recommend to clients that the most important thing you can do as a business owner, whether it is a "brick and mortar" business or an internet business, comes down to one word: TEST. Testing is the most important tool that you can use to acquire new buyers.
The truth is, there is no one perfect way to market your business. There are many ways to market your business, but what works for one person does not always work for another. The bottom line is that you have no idea what will work the best for you until you test.
So, how do you test? It's really very simple. You have taken the courses, listened to the CD's, read the articles and attended the seminars. You easily have ten ideas for marketing your business (if you don't, you need to have me do some coaching!). Write those ten things down on the list, with number one being the one you think will be most effective. Once you decide which way to market, only subscribe for a limited test. For instance, let's say you believe that purchasing 5,000 visitors to your site. Sign on, but do no other marketing for that week. When your limited test has completed, review the statistics as follows. Here's the critical thing: keep close track of what it's costing you. Take these statistics and write them down as follows:
List visitor inc. test
5,000 visitors
500 added to list
25 buyers
average purchase $10
cost:$250
Then take a look at what it cost you for this: Cost of marketing:
5 cents per visitor
50 cents per list subscription
$10 per buyer
Gross profit: $250
Net profit: $0
Of course, this doesn't take into consideration the value of future revenue from the 500 people on your list. But it does give you something to compare with as you try the next marketing tool.
Next week, try tool number 2 and do the same thing. The key is to order marketing in limited amounts, given it a try, see what the result is. Once you've gone through your list, then compare the tools and costs, and you'll have a good idea of what works for you, what doesn't, and what the profit is for each tool you use.
Testing also includes trying different wording for ads. You might purchase, for instance, solo coop ads, and have very little result with one ad and a great result with another. The same applies if you use Google, Yahoo or MSN pay per click advertising. Keep trying.
This is a tool that you need to use always and forever, and you'll discover what works for you!
Copyright (c) 2008 Mark Albertson
The Missing Piece Lyrics
Most businesses - regardless of whether micro, small or corporate giants - have found themselves believing that all their business problems would be solved if they could just get more clients.
True?
While you're most likely squirming in your chair anxious to shout a resounding "YES!", chances are you know me well enough to know the answer is "It depends".
You see, it depends on whether or not these phantom, soon-to-be-real clients are your ideal clients and whether or not you're offering ideal products and services.
Let's break that down. For purposes of this article:
"Ideal clients" are those clients who make you smile when you see their name on caller id or in your email box. The ones who appreciate the value you bring to them, happily pay you on time and refer others to you.
"Ideal products and services" are more than products and services which your ideal clients want and will pay money for. They're also the products and services which make you money.
Without the right clients (ones you enjoy) and the right products and services (ones which add, not subtract, to your bottom line), simply "selling more" doesn't matter and can actually have the wrong effect on your business, and sanity.
Make It Real: My Request to You
Ready to figure out where you stand?
1. Write out your ideal client description - who is she (or he)? What do they do? What do they love? What keeps them up at night? Give them a name, hobbies, what do they read? Where do they vacation? Do they have children? What do they spend their discretionary income on? Create a person, find a picture which represents your ideal client and post it where you can see it every day.
2. And now for some math - KNOW, don't guess, how much PROFIT (not revenue) you make on each and every product or service you offer. If you haven't done this before, you may be surprised to learn that some of your products or services are actually COSTING you money.
3. Review numbers 1 and 2 above and see where they cross - which of your highest profit (also known as "gross margin") products and services are ones your ideal client wants and is willing to pay for?
4. Have lower profit products or services that aren't "loss leaders" as part of your marketing? Now's the time to either raise the price, bundle them in a different way so they are profitable or let them go.
Once you've done the above, you'll be able to assess whether what you really want are MORE clients or the same clients arranged differently in your funnel.
Both Mark Albertson & Sandra P. Martini are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Mark Albertson has sinced written about articles on various topics from Finances, Internet Marketing and Entrepreneurship. Noted coach, author, speaker and business attorney, Mark Albertson coaches people interested in building profitable businesses. Mark is also a radio personality in the Seattle area, hosting KVI talk radio's "Minding Your Business" show. For Three FREE Ebo. Mark Albertson's top article generates over 33100 views. to your Favourites.
Sandra P. Martini has sinced written about articles on various topics from Marketing, Shopping and Marketing. For the past 5 years, Sandra Martini has been showing self-employed business owners how to get more clients consistently by implementing processes and systems to put their marketing on autopilot. Visit Sandra at. Sandra P. Martini's top article generates over 165000 views. to your Favourites.
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