Success In Online Business

I recently started the 30 day challenge and decided that I had to share this with someone. It is about succeeding in business. I guess it really does not matter if its online or off. If you fail to do this then your chances of success are left up to luck. And that is no way to operate.

Its called The Magnificent Symphony of Four Parts

1. Market Research
2. Traffic
3. Conversion
4. Product

This may sound like of course you need those. But, did you know that most people put the product first then they fail. Why...because they did not know what the people (market) wanted and were willing to pay for.

Traffic. Is there enough traffic for this to make it worth while. A sustainable profit.
Conversion. Once you get traffic how many people are doing what you want. Are they signing up for your e-book or newsletter?
Product. After you feel that you have successful product then you launch.

This method in this order will help ensure the success of your campaign.

 

Conversion is a serious topic. Many affiliate marketers fail in their attempt to make money due to the fact that their product or service does not have a good and acceptable conversions.

 

This is where the first 2 steps are so important. If the market is not there for your product then the conversion rate is going to be very low. You need to do the research to make sure that the market is there and then you need to be able to pull in the traffic. I believe that if you go out and build a blog and get low or no traffic then of course that means you have no market.

It really starts with research.

 

Good breakdown. Thanks for sending...

 

Most of the so called "gurus" will tell you that you should enter into a field that you are an expert in. This is not always a great practice because what happens if there is no market for it. If your passion is "how to squish slugs" then chances are your sales are gonna stay low and your business is going to fail. But, if you choose a market that you have an interest in but your not an expert then your chances of success might be improved because you might be able to find a market for it.

Lets say you enjoy fishing for trout. There is a market for that. If you are wondering how to find a market use amazon. You can go into their book section and click magazines. Chances are if there is a magazine for it, then there is a market for it. Then you can drill down to a niche from there. Like we all know that there is a market for "fishing". Now you can use your niche as "trout fishing". Go even further and a good micro niche could be "trout fishing lures" or "trout fishing in New York". You get the idea.

Now after you find your market its time to use the Google keyword tool to find out if there is going to be any traffic for it. More on that later.....

 

I totally agree. Couple years I ago started an ecommerce website with some friends and we were trying to sell a product, which did not exist at that time in my country and we failed. Unfortunately, we thought that if a product is successful in the US, it should sell in different markets. However, this is not the case at all if you are doing business online because people don't know shit about your product.

 

So, any further progress on this Norm?

 

Finding traffic or traffic research is done with the Google keyword tool it can be found at http://google.com/sktool. This is a great way to find out if your chosen keywords are going to bring in any traffic. I am going to stick to the "trout fishing in new york" has about 500,000 competing sites. Now its time to find out if the traffic is going to support another one. I find out that this phrase gets about 390 searches globally per month. So, it does get traffic. Now you are going to get about 180 to 200 visits if you rank in the #1 spot on Google. This phrase might be a good one to start with. I believe that I will be ready to get the blog set up later tonight. Not sure about putting up a product for it just yet. But the market is there, the traffic is there, now its time to find out if the visitors are buying. more on this later.

 

This is a helpful thread. I started a business (not online, but of course, every business requires marketing and customer-getting) about 9 months ago and I get most of my customers through word of mouth, real life business networking, direct mails, and cold calls.

I am really looking to get my website, which when I made it, I only intended to be kind of a Q&A for my biz (not as a first point of contact, in other words- website is where you go after you hear about me, or get my mailer, or get my biz card) to generate more first time contact.

That tool is great .... although , it is probably going to end up tempting me to drop everything and forget everything i went to school for, and make a random busienss selling self-cleaning kittylitter boxes to pursue my fortune...

again, cool resource.

 

The key to conversion, in my opinion, is the relevancy of your content to your traffic, an offer, and excellent copywriting.

Great tips, thanks!

 

Nice tips for Newbie's here, i'm sure this will benefit many, many people!

 

Having a website can help any business offline or online. The problem is will the people find your website to get directions to your brick and mortar store. This is where you need content. Even if its not on your site, I would say that you should get some content sent to directories about your "self cleaning litter boxes" this could turn out to be big business for you. If your interested in learning more of what good articles can do for you PM me. I will go over everything.

 

I agree that conversion is relevant to your content and traffic. Because if your content sucks you will get little or no traffic. At the same time if your traffic doesn't want to buy then your conversion of course is going to suck.

Here is what you need to do. You need to have the right target audience. In this case we are talking "trout fishing in New York" Lets say we are getting 100 unique visitors per day. Will our content drive these visitors to buy. Are these visitors looking to buy anything. This is where you need to collect their email address. Compile a list, and then you have a base to work with. If you can get 3 to 5 people to sign up for your "free" ebook or newsletter then you have a conversion rate that you can work with. Now all you have to do is get them to buy something.

You have already passed the first hurdle, they are listening to you. Now is the time for action. Get them to buy your "Secrets to Trout Fishing in New York" e-book. If you are selling this book for lets say $20 each and you sell 3 per day. That is $60/day. This could turn into $21900/year. Possibly more with a bit more work on your side.

This is only with a 3% conversion rate. Not sure if that is high or not. But, I am saying that you can do it. Especially if you do most of the work yourself. Even though there are a lot of affiliate marketers who would rather outsource to save themselves time.

 

Awesome, thanks.,,, I may actually take you up on that offer, and you may be bitter that you made it, lol.

I'm willing to pay for good help (i was kinda thinking more like outsourcing stuff, like generating lead lists, etc - gotta get up to 25 posts though before i can do that)

this link *Should* go to the thread where i somewhat explained what I do...

http://forums.digitalpoint.com/showthread.php?t=1868235#post14573925

Its an interesting and potentially lucrative biz, but really needs some volume ...

Good news is the 'product' is a service which should sell itself (i.e. collecting on an outstanding debt, with no money up front, on a strict contingent fee) -- bad news is, that 'closing a sale' is just the beginning of the road to the money...

 

How's the progress?

 

Good tips for neewbies. And I will definitely say that conversions are important and the type of traffic you drive is the most important. One can't expect their conversions to be high is they are sending unrelated traffic.

 

wondering this also.

 

Sadly in my experience you need plenty of money to make money. :-(

 

This is totally not true.

Of course, it's always easier to start comfortably than to start on a shoestring, but starting on a shoestring can be done.

I'm living proof....although my biz isn't online so I dunno about online. Doesn't seem like putting up a webpage and a wordpress is that hard or expensive, and apparently there's lots of ways to get traffic without buying it...Meh. I don't even get how a wordpress can be a 'business' anyway...i guess im a noob.

 

A shoe company sent its employee to sell its product. He too went but return back without any sale. Reason : Nobody wearing shoes in that village.

Another person went but come back with full sale. Reason : He made them aware by saying the important and the need for wearing shoes it worked.

The best way to increase the conversion is dedication, commitment, professionalism and co-operation, structure and the analytical approach from top to the bottom.

Marketing + Science = Profit, then, Great fun and Great result, ROI will also be high.