Top 7 Strategies For Profitable Online Marketing
By Jim Turner, MBA
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If you feel the bug to do business on the Internet or you are already doing business on the Internet, here are seven strategies to help make your marketing more profitable.
- Be Realistic in Your Expectations
It's ok to think big and have high aspirations, but you need to be realistic at the same time. Having a large goal will get you farther than having one that is too small. The best way to reach your big dreams is to map out a plan that will get you there over several months rather than next week. Then take massive action!
Don't put a lot of your hard earned money into a web site and placing ads until it is clear to you what you want to accomplish.
- Find Something to Sell that Others Want to Buy
Nearly everyone thinks that they need to be marketing some product or service on the Internet. But the big question is, what? It is always better to have something that you have exclusive rights to, putting all the profits into your pocket, rather than sharing it with someone else. Today, there are many affiliate programs available that you can market. This is a good way to get started, because there is little risk involved. Someone else has invested the time and money to produce the product. All you have to do is market it and collect the commissions.
- Offer Something FREE Before You Start Selling
Never try to sell from your ads or sales messages. The most successful marketers offer something for free, that is related to what you eventually want to sell. The free item can be a special report, software, an e-book, consultation session or newsletter subscription. The name of the game is getting email addresses.
Then follow up with your sales letter later.
- Decide on the Best Method for Reaching Your Prospects
You may post messages to discussion lists and message boards; establish your own web site and direct prospects to it; place ads in ezines and newsletter; or publish your own newsletter and place ads before your prospects on a weekly, monthly or quarterly basis.
- Create Credibility
Just because you are not a yet grossing a million dollars a year doesn't mean that you can't act like it. The Internet allows the small guy to appear as profession as the "big boys."
Whatever you do, produce it to the highest standard. Don't accept misspelled words and bad grammar. Get someone else to either produce or review your materials. One of the quickest ways to Internet failure is to appear as an amateur.
- Go After a Targeted Market
If you try to be all things all people, you may as well be throwing your money in the river. Try to pin point your audience and go after it. This is the best strategy. For instance, don't simply go after Internet marketers, choose a segment. Specify it to new Internet marketers from the upper income bracket or new Internet marketers who don't have a lot of money. You need to know your target market so that you can decide your price.
The same product can be sold to different markets at different prices.
- Veteran marketers will tell you that the real profits are on the backend products. Use a lower priced, quality product in your initial sale. This will get the customer comfortable buying from you. It's a lot easier to sell a higher priced product later, because a trust has been developed. When you come to the customer later with an upgraded product, there is a higher perceived value and they will buy from you, again and again.
That should be it, but I have a freebie for you.
- Make it Easy for the Customer to Buy
Internet consumers are looking for convenience and desire "quick action." You will sell more products if you allow your customers to use either credit cards or checks online.
TIP: there are over 10 times more people with checking accounts than credit card accounts. So, don't miss out on sales by not offering the option to use checks. At a minimum, offer checks by phone. When you customers are ready to buy, you want to be ready to take the order.
Today's Top7Business Article Was Written By: Jim Turner, MBA
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Article Submitted On: March 01, 1999