So you want to earn a full-time living from Internet Marketing?
How are you going to do it? We don’t mean the nitty-gritty details, because we can help you with that. We mean the fundamental questions like…
- Do have any writing or communication skills?
- Do you have any specialized knowledge that other people would be willing to pay for?
- Can you foresee yourself creating your own products or services or do you simply want to sell other people’s products and earn commission?
These are the basic questions you need to resolve BEFORE you plan out your course of action.
Before anything else, though, let’s be brutally blunt and get this out of the way once and for all…
If you cannot communicate in writing, you will never succeed as a marketer online or offline.
Does that sound a little harsh?
It doesn’t matter if it does because it is a simple fact of life. Either you need to be able to write effectively OR you need to be able to communicate CLEARLY to other people exactly what you want them to write on your behalf.
If you had the knowledge, could you sit down in front of a keyboard and monitor and write a short article like this one? Could you fashion your knowledge into clear, precise sentences?
Well if not, could you describe in words to someone else exactly what you wanted them to write on your behalf? I don’t mean instructions like “write about planning your business,” I mean much more detailed instructions. Maybe you write an outline of what you want to say made up of a whole series of bullet points and let someone else flesh it out for you.
If you can’t do either of these things (write for yourself, or clearly instruct others what to write on your behalf,) give up thinking about your own products or services and focus straight away on selling other peoples’ products using the marketing tools that they provide and follow the DO’s and Dont’s of internet marketing.
The Internet Marketer’s Plan:
1) Define your knowledge base:
What knowledge do you possess (or you can quickly learn) that you can pass on to other people in exchange for their money?
Think about this…nobody will buy your knowledge from you just because it interests them. However, many people will buy your knowledge from you if it helps them solve a pressing problem or end their confusion over something that’s important to them.
If you have information to share, or have the ability to research and gather information on a niche topic, (everyone has that ability, actually) you can make money if that information fulfills a need.
Since the beginning of history, people have been making money selling information, and this will continue forever. It all boils down to helping other people save time and money. Even if they have the ability to create something, buying the information from you can help them avoid having to learn the hard way – through research of their own.
Basically, you do the research or use what you already know and sell the results to other people who want that knowledge, or who want to use what you’ve created. The better the quality of information or service, the higher the price you can demand. With a global online market, you can create and sell just about anything. If there is a market for it which there nearly always is, you can build a business around it.
So, defining your knowledge base is your first step. What knowledge do you possess or you can quickly learn that you can pass on to other people in exchange for their cash?
2) Decide if you are going to create your own products:
Having just debunked one myth, (being able to communicate clearly) I might as well press on and debunk another one…
Creating your own product is VERY time-consuming and can easily fail, no matter how much effort you put in to its creation.
Let me give you an example, so you understand the facts…
Right at the moment, along with “Casper”, we’re preparing a new product for launch on the Internet next year. When finished, it will have taken two people over 6 months of intense thought and effort to produce. At the end of the day, we have no way of knowing whether our efforts will be rewarded or whether this product will flop…oh yes, even experienced marketers can create flops!
So… are you prepared to take the gamble, or would you prefer to follow the safer course of action and sell other peoples’ products?
3) Decide if you are going to sell existing products and services:
It is also possible to earn good money online selling existing products and services. There are two ways to do this…
- By acquiring the resale rights to a product.
- By promoting products and services as an affiliate.
We’ll touch briefly on resale rights first…
On the Internet you’ll see many products, especially in the Internet marketing niche, being sold with resale rights. While this can be a profitable model, you have to remember that if you go this route, you will be competing against all the other people who also bought those rights. And that can create problems if there are hundreds or even thousands of others selling the same thing.
In fact, the safest route is to find a LIMITED RESALE RIGHTS product where only a small handful of people are granted the resell rights. Though this is, on the face of it, more expensive, the returns are significantly greater due to the scarcity of the product and you can usually recoup your money very quickly.
With such products, not only are you presented with a turnkey business, you also have the option to set up your own affiliate program for the product, and pay others to sell it for you. Don’t you think that could be a worthwhile way of beating the competition hands-down?
4) How are you going to sell your product?
You are at the crucial stage of deciding on your marketing strategy. Are you going to sell using affiliates and give away a chunk of your profits or are you going to try and sell by yourself and keep all your turnover?
The view that most people take is that it’s best to get others selling for you. After all, 50% of a lot of money is far better than 100% of nothing.
And while on the subject of affiliate marketing, it is, of course, a valuable option to use yourself as well as offering it to others. It offers more versatility and can prove very profitable, so let’s talk a little more about it…
Affiliate marketing is simply promoting existing products or services on a commission only basis. Every time you make a sale you earn a commission. There are affiliate programs in just about any niche you can imagine.
Whatever niche you plan to develop your business around, you’ll more than likely be able to find affiliate programs you can join that will augment the money you earn from your own product sales.
In addition to selling your own products and services, you should also promote products as an affiliate. Every week I see my Paypal account growing. These commissions are from merchants paying me on sales I made for them.
There are advantages and disadvantages to affiliate marketing…
- You save time and money since the work of creating the product has already been done by the merchant.
- There is no need to worry about payment processing or order fulfillment since the merchant handles those aspects.
- You have no control over the product/service or the commission percentages since you do not own the product.
- You cannot open your own affiliate program and use the massive power of affiliates, since the merchant is already doing that for this product/service.
Even if you plan to go the affiliate route, you still need a website of your own. Your website will be the hub of your business. The place where you share information about your niche, establish credibility and grow an opt-in list.
It is as essential to an affiliate based business as it is to a business selling its own products and services.
In closing, if you’re just starting out, become an affiliate first to get your feet wet. After you learn those ropes, I’d say it’s time to venture out to create your own informational products.
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