Key Ingredients to Make Money Online
Key Ingredients to Make Money Online
I personally feel these are the key ingredients to make money online. Have a read -
1. Website - This is your Internet Shop window. Here is where you showcase your products. Without a website, people will not know where to go or how to buy what you have to offer. Purchasing a domain and hosting your website is one of the primary steps to make money online.
2. Targeted Traffic - Most internet marketers talk about traffic in general, but know it's just not any traffic that will fetch you money. When you are able to get targeted traffic is when money-making takes a different turn. It should be obvious that 'people who are interested in what you have to offer are the most likely to make a purchase when you send them to your website'. In IM (Internet Marketing) terms traffic can be 'cold', 'warm' or 'hot'. Yes, you can monetize cold traffic, just that it will take a little more time and effort to turn them into warm or hot. You will have to indoctrinate them with what you have to sell and make them realize what you have is what they want!
3. Visitor Tracking - Not everyone 'buys' the first time they visit a website, but they may return later. So it is important that we as marketers track our visitors. I recently read that on an average it takes up to 7 visits for a casual visitor to become your buyer. Don't get bogged down by that number, it's just a statistics. There can be various reasons why people would not complete a purchase in the first go, a notable reason is their attention span. It would be interesting to know that Microsoft did a study more than an year ago and found out that the average attention span of a human is 8 seconds, 1 less than a gold-fish! Just know that re-targeting is something that shouldn't be neglected.
4. Autoresponder - Following up with your customers and referrals increase the likelihood of you making further sales. There are more than a dozen of autoresponders that are available in the market which suits all budgets. You even get simple mail merge software for free these days. One of those which I recently tried was YAMM (Yet Another Mail Merge). This is only for Gmail users and does a pretty decent job for a free basic tool. Irrespective of the tools that you use to automate your emails, do not forget that you are dealing with real humans, your most valuable asset and treat them as such - do not offend them.
FOR THE ADVANCED INTERNET MARKETERS :)
1. Network Sales - What could be better than having an army of salesman closing deals for you? Traffic or Leads or Buyers you get from your affiliates are more valuable than the ones you get from Facebook or Google. Moreover you do not have to pay an affiliate unless a sale is closed. That means it's free advertisement! They do the work for you, minus your advertisement cost. Being able to build a good team of affiliate can change the game for you all together. It's even worth considering going beyond your way to keep them happy - end of the day, you will be gain much more in value as a product creator or vendor.
2. Residual Income - This is the 'Daddy'. This happens when your customers continue paying you every month for the product or service they purchased. Perhaps the perfect complement to 'Network Sales'. As long as you give sufficient value to your customers they will be loyal and remain with you thereby increasing your customer LTV (Life Time Value). The sooner you are able to generate a residual income, the sooner you will be able to retire.
Recent Comments
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Great read - well thought out and haa great tips. Curious to know -
would Visitor Tracking include email capture in some capacity to provide another means of marketing to site visitors?
Hello Benjamin,
Technically email-marketing is different from marketing based on visitor-tracking. By tracking a visitor we are looking at opportunities to remarket to them or simply retarget them. This means we are attempting to get previous visitors back to our website. Retargeting is done by placing a small code on your site, sometimes called a 'pixel'. When a visitor hops on your website, the code leaves an anonymous cookie on the visitor's browser, which 'follows' your audience enabling you to show ads to people who have visited your site previously.
Spooky isn't it :)
Thanks informative peace. You never get a second chance for the first impression ; I think a well designed site that is informative is a must for attracting and retaining visitors.
You are right, Houssin! A well designed and informative website is a must, but that's not the 'end'. Even if you miss on aesthetics, there are tools that can help you get back your visitor and convert them to a buyer as long as what you provide is of value to your audience.
By the way I read you bio. Interesting it is!
Hi Thomas, that sounds like a lot of hard work but it also seems like a good idea too. I've only just started. Need to get some content on my site first. Maybe I'll come back and quiz you once I've got at least five articles on my site. Thanks Sylv
Hello Sylv,
I totally understand where you are coming from and I was in your position when I started off with my online business journey. Just know that everything looks like hard-work when you are hearing it or doing it for the first time, but trust me, there is nothing complicated in here!
I don't deny the fact that you may get overwhelmed by the sheer volume of knowledge-download, but take one piece at a time and you will be absolutely fine. The training modules here at WA are meant just to do that - help new comers succeed in this vast ocean of opportunity.
Thank you, I am just starting to work out the visitor tracking. I never realised how important it is
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Thanks, I would agree, following up with existing costs less than generating new ones. Returning visitors are the only true measure of how the message in the site resonates with the visitor.