OK so it’s been close to 7 years since I first begun my Internet marketing journey.. I still remember it like it was yesterday, creating my first ever website on wordpress, subscribing to hostgator..
I’ve came a long way and learnt alot over the years. SO lets begin!
Lesson # 1 – Build that list!
I know . I know.. this is kinda cliche and you’d probably already know this but the MONEY IS IN THE LIST. If you don’t start building your list you’re leaving a TON of money on the table..For the first 3 years of marketing online I didn’t take list building seriously enough. If you’re getting traffic always.. always be building that list!
Lesson # 2 – Create your own Information products and BE the expert!
When you create your own information products, you are in FULL control and you make a TON more. You see with affiliate marketing , the product can be taken down and you’ll only make a % of the sale and you don’t make money on the backend!
When i started creating my own products to supplement my income it slowly became one of my biggest income source and it will continue to grow and grow and grow.
Lesson # 3 – Never EVER rely on SEO! PAID traffic is the ONLY way to go!
A business that relies 100% on organic Search engine traffic is NOT a business at all. I used to try to rank my sites organically in the search engines and realise that it was such a BIG waste of time. Yes my rankings did increase but I’ve always had to spend time and money ranking my sites. I couldn’t scale my business at all, knowing that I was at the mercy of the search engines , a single change in the Search engine algorithm will destroy your business!
Instead a proper business is one that relies on paid traffic, if you can buy traffic and bring in customers.. you have a business.
For example if you know that for every $1 spent on PAID traffic you can make $5 back…how much will you be willing to spend? I can’t recall where I heard this but in was something in the lines of “you only have a business when you can spend money to acquire customers”
Lesson # 4 – Bad things will happen, Expect it!
Now I’m going to tell you something that you’d probably won’t like to hear , even though building an online business is relatively cheaper and less risky when compared to a brick and mortar business, you will come across some problems from time to time.
1) Getting your Pay Per Click accounts banned << Has happened to me once.
2) Commission not being paid << I Had over $2000 in affiliate commission reversed
3) Accounts terminated << I was making good income through many online accounts and got accounts terminated..
I used to get extremely discouraged when something like any of the above happens, I get depressed and upset and it ruins my day.. but over the years, the one thing I’ve learnt is when a problem hits you its 80 % how YOU respond to it.. Understand that no matter what happens it’s never the end of the world and there are ways to Fix the problem.
Lesson # 5 – It is not as hard as you think selling a Mid ticket to big Ticket product
Selling a product for $200 is not that MUCH harder than selling say a $10 product. What I mean here is thatjust because the $200 product is 20 times more expensive than a $10 product doesn’t mean its 20 times harder than selling a $10 product, sure its harder but only a little bit harder..( not 2o times) In fact I will go as far as saying that the ” marketing effort” is about the same.
Which brings me to my next lesson..
Lesson # 6 – Have some kind of offer to promote that make you BIG money – Big ticket $1000 (Minimum payout)
THIS IS BIG.. and I mean BIG 🙂 Always have some kind of offer you can sell and make a minimum of $1000 , because you’ll reach your income goals MUCH MUCH faster. If your goal is to hit 10k a month.. you only need to sell 10 X $1000 product to make that .. what If the product you’re selling is $2000 you only need to sell 5 per month.. what if it’s $5000? .. well you get the picture 🙂
These days I always Incorporate big ticket offers in my marketing funnels, and because of this, I will always profit with any paid advertising giving me ridiculous ROIs of 2000% ( yes TWO THOUSAND.. not a typo) and more.
My chain of thoughts when coming with a new product or program I want to promote is this.. “How Can I provide MORE value and charge PREMIUM price for it?”
Lesson # 7 – Get a Mentor!
This is the biggest turning point in my life.. Getting a coach can really speed up the whole process and get you to where you want to be FASTER than you would have done doing it alone.. Sure some coaches are not cheap but, the opportunity cost of not having a coach far outweighs the price of the coaching itself.
I’ve personally paid for several coaching programs myself (and will continue to do so) 🙂