Not enough market research
As entrepreneurs it’s easy to fall in love with an idea about how well your products are going to sell. Just build a better mousetrap and they will come. Well, in the online world that’s like waiting up all night to catch the tooth fairy. It’s just not going to happen.
Most entrepreneurs start an online business with the belief that their idea is going to be worth millions right out of the gate. But if you do the market research and look at the facts, you might discover that your idea is not going to work. In this case it may be better to ditch the idea in the planning phase than to waste time and money trying to make it work.
When you are doing market research make sure your find multiple people selling something similar to your product. That’s proof that other people have made it work and you can to.
Next, you need to visit their site to sign up for their email list and buy their product. Take note of the different products they offer for sale in their funnel.
Once you have this research together you will better understand the market dynamics and what you’ll need to have in place to compete successfully with them.
Not focusing on 1 thing until it’s done
Now that you have your market research done and have proof of concept that there is a healthy demand for your product, you need to focus on creating the product until it’s done. That means 100% done, not 99% done. As online entrepreneurs it’s easy to get side-tracked by bright shiny objects that are designed to make you part with your hard earned money. You can’t sell anything until you get it done. Don’t try to do multiple projects at once because it will just slow you down. Plus, you only need to have one front-end product completed to build your business.
Not using your own domain
You can’t judge a book by its cover, but you can judge an online business by its domain name. A lot of entrepreneurs will be pound wise and penny foolish by using a free hosting account or a shared domain name. That’s a sure sign of an ameteur. Your domain is your storefront. Make sure you have a self-hosted domain that reflects your business. Plus, the right domain name will inspire confidence in your buyers.
Not building your email list from day 1
The life blood of your business will be your email list. Think of them as your own tribe and you are their fearless leader. It’s up to you to lead them to whatever results you or your products deliver. Never be afraid to email your list because you know you are providing value.
Make email list building your first priority as soon as your site is live. I would suggest you use Aweber for your email marketing. They have a crazy deal where you can get 30 days free. Even if you don’t have your products ready for sale, still get an email form to capture emails on your blog.
Not building out your funnel
Now that you have your email capture up and running it’s time to review your market research to see what and how your competitors are selling their products. You need to really look at how they are positioning their products to the market. Are they the Cadillacs of the niche or do they have the Walmart mentality. You have to figure out your positioning before you create a product.
You also need to look at what types of funnels your competitors are using. Are they losing money on the front-end to acquire a customer only to promote high ticket items to them next week? Do do they make enough money from the front-end sales that they don’t have a back-end funnel. These are important details you need to consider.
Not focusing on recurring income
Even if you’re only selling 1 item, look at how you can take that one time sale and turn it into repeat sales. Or better yet offer some kind of continuity program to create recurring income. Often this is done with a product of the month, membership sites, newsletters, or product refills. This will be the source of the bulk of your long-term income. Plus, if you consider selling the business the recurring income and the email list will be the assets that buyers want the most.
Not wanting to spend money on advertising
This is where most entrepreneurs trip themselves up. You have be willing to spend money to get your offer in front of your target audience. It is just like in real estate– location, location, location. You can’t make sales if buyers never see your site. Paid traffic should be a line item on your cost of doing business. The entire internet is based on the model of using paid traffic.
Trying to do the techie stuff yourself
I’m a victim of this myself. I can’t count the times I should have spent my time growing the business instead of tweaking some code on the site or in the shopping cart. Don’t spend your time doing techie things. Technology is hard to learn, and often you will only use it once or twice. But technology is easy and cheap to outsource.
With numerous opportunities to make money online available worldwide, one of the most popular methods these days is affiliate marketing. There are several different approaches that can be taken to do affiliate marketing, but most marketers agree that the fastest way to start making money right now with it is through Pay Per Click (PPC) marketing. Unfortunately, this also happens to be one of the fastest ways to lose a lot of money at the same time if you do not plan properly.
In this guide, we will take a look at three critical factors that every affiliate marketer must be aware of so that they can successfully turn a profit using PPC marketing without risking the loss of a large amount of money.
FACTOR 1 – DISCOVERING A PROFITABLE OFFER.
Generating an exceptional profit using ClickBank is still highly possible at the moment. Having said that, there is such a large variety of different niche and products, that it might be tough to choose the most effective income generating products on ClickBank to advertise. So what’s the easiest way to determine which products are ideal to promote so that you can make the most money without having to waste your time?
Let’s take a look at a handful of tips that should be followed which will put you on the right track of uncovering some of the most successful ClickBank products.
1. Pay attention to exactly how well other affiliate marketers are doing in promoting the product.
It’s possible reveal a great deal about whether or not a product is profitable by looking at the sales statistics of others. Without doubt a product is selling very well if there is a high number of affiliates who are advertising it. ClickBank has a feature known as gravity, and this is a number that basically represents the percentage of online marketers successfully promoting that specific product.
As you shouldn’t make a judgement upon gravity on its own, it is basic data that ClickBank gives you and it really is an excellent tool in selecting a income generating product to advertise. Choosing virtually any product with a gravity above 10 and lower than 100 is usually a great start, if it is under 10 then odds are it isn’t selling very well. Likewise, higher than 100 often indicates that the marketplace is possibly saturated, but not necessarily.
2. Monitor products that are rising in popularity.
To discover successful products, it is recommended to pick one whose statistics are climbing. Restrict your choice of products to roughly 10 and track them for at least a week or two. Should you note that other affiliates are choosing one product a lot quicker than the others, then that could be a successful affiliate product.
3. Determine the return percentage.
One crucial factor you should consider when choosing the top ClickBank products is the return percentage rate. When the return rates are high, then precisely how good a product sells indicates absolutely nothing since you will end up returning your earnings to ClickBank in the future. Virtually any product with return rates higher than 15% probably should not even be considered irrespective of the sales rates.
4. Examine the size of the market.
After you have narrowed down the products a bit more by crossing out products with high return rates, you should then check out the market size. For example, suppose you have found four different niches. Use the Google keyword tool and research the variety of keywords for each niche and figure out the search volume. Google Trends is also a useful tool for analyzing the developments of a niche right now and in recent times. The best scenario is to find a product with few competitors and high demand from customers.
FACTOR 2 – BUILDING A QUALITY LANDING PAGE.
Once you find a profitable offer from the ClickBank Marketplace, you will then need to prepare a quality landing page. In terms of selling products through PPC, landing pages are among the most vital means and many methods are used to properly optimize the pages. Among the most successful approaches to making large profits online is through presenting a strong review page along with quality content. Here are some essential points to be mindful of when building your landing pages.
1. Emphasize the benefits of the product for your visitors.
Industry studies have often shown that a properly sorted list of advantages that a product provides can be rather influential to visitors. When clear benefits are listed, readers feel more encouraged to purchase the product.
2. Use convincing reviews and recommendation on your landing page.
Unbiased product evaluations and testimonials provide fantastic possibilities for transforming your visitors into customers. Most people seek out immediate and quick remedies for their problems. Furthermore, they readily trust personal recommendations that don’t seem biased. Therefore, make sure to provide positive reviews regardless of how hefty it is on your expense plan. In the event that you are low on money, simply explore the product in detail and compose a balanced review for your landing page.
3. Compare the product with other similar affiliate products.
Presenting a comparison between a large number of affiliate products is a really wise way to develop an outstanding review landing page. Comparisons easily grab the attention of a visitor and they establish confidence with them. Make sure that you compare between 5 to 10 different affiliate products at the same time on the review landing page to avoid any potential confusion or misunderstanding.
4. Focus on your keywords in the landing page.
When making your landing page, highlight your top keywords and try to use them in the page title, header and throughout the content.
5. Make it easy to reach the merchant’s website.
Since the landing page you are building is aimed at directing visitors to the merchant’s main site, you must guarantee that they are transferred to their site without any problems. An easy transition to the main sales page will increase the percentage of conversions.
FACTOR 3 – PPC MARKETING THE SMART WAY.
When using PPC marketing, there are several factors to take into account to guarantee that your ads are displayed properly so that your money is spent on the clicks that have potential for converting into affiliate sales. These are some tips will help you get started with PPC marketing for your affiliate products the smart way.
1. Properly group your keywords.
Creating groups of keywords based on their theme will assist in having the search engine display the ads that are relevant to those particular keywords. Since you are not placing all of your keywords in one large group, this also makes it easier for you to test the strength of your different campaign ads.
2. Link to a specific web page on your site.
Every click counts, and so if you are displaying a specific ad for a particular keyword then you want to ensure that the ad directs the visitor to the appropriate page. In general, this would mean a specific landing page and not the homepage of your website.
3. Focus on a keyword’s overall conversion rate.
It is common for marketers to confuse between a keyword’s high click through rate (CTR) and its actual overall ability to convert. The CTR is only referring to those who clicked on the ad and reached your page. It does not count the amount of people who then went to the merchant’s sales page and actually purchased the product.
4. Split up campaigns based on region.
It is ideal to display your ads based on the geographic region of the visitor. If you organize your keyword ad groups properly, you can customize your ads to attract more people. This is a key method to personalize your ads, as you can write them in a language native or familiar to people.
But first, I have to ask you a very personal question.
Do you know how to be honest with yourself?
After years of smiling back at people you dislike or pretending to be nice so you don’t upset the social norm, being honest is next to impossible.
When we wipe off the false veneer of who we are supposed to be and accept who we are everything changes.
Since birth you have been pressured to conform to society, to go along with the flow, not to cause waves.
Don’t stand out or else you get your head chopped off. On the other hand we are pushed to achieve, excel, and do great things as long as it fits into some imaginary box of normal.
Can you see the conflict and do you think you can be honest with yourself?
At the end of the day you’re damned if you do and damned if you don’t.
It’s a no win situation.
I’m sure you’re wondering what any of this has to do with paid traffic?
In fact, it has everything to do with paid traffic. And here it is.
Most marketers spend all their time talking about the product and never sharing their real story and emotions.
Nobody on the planet cares about your product except you.
The only thing your prospects care about is what it can do for them and how it makes them really feel.
And this is where the honestly comes in.
In order to make your prospects feel something you have to be willing to be vulnerable…to share the good, the bad and the ugly.
Watch the replay for the 4X Traffic Maximizer and notice how I share all the ups and downs in this webinar.
I talk about my own ad struggles and what you can learn from them.
Hey, this is Charles Kirkland, co-founder of the Media Buyer Association. Today we’re going to be talking about wearable technology. And you say, Charles. This has nothing to do with media buying. Why are you changing the subject on me? No. This has everything to do with media buying. It’s a little Jawbone. It’s blue. It costs a hundred something dollars. I’ve had it for quite a while, since they first came out.
Who are the people buying this stuff? Well, typically, upper income individuals who are health conscious. I don’t know about you, but I think those would make a great group of people to target. If you’re looking at that, start thinking about this. These things are only becoming more and more popular. The Apple watch recently came out. Samsung, all of these people, are going to have tons and tons of opportunities to have wearable technology. The question I am asking you is, are you targeting these in your campaigns.
If you want to go ahead and start targeting people that own these types of devices, just even through Facebook, you could target them through Twitter for that matter. By targeting these people, you’re typically dealing with a better quality prospect. And if you’ve got a health related product, great opportunity there, or anything athletic related.
So, with that said, are you targeting smarter? Are you going after these people, or are you just continuing to target the same group of people and hoping your campaign’s going to work. Target people with money, you’ll find it’s easier to sell things.
Anyway, this is Charles Kirkland. Hope you enjoyed it. And as always, if you’re not a member of the Media Buyers Association go ahead and grab your free account below. Click the link below, and I’ll see you on the other side.
Last week I really messed up my back and now I need to have physical therapy. It seems that I’m not 18 anymore. Spending 3 straight days in bed gives a guy a lot of time to surf the web. It seems that everywhere I went I saw more and more native ads.
In all my split testing there have been very few times that an opt-in page out performs a native ad and presell page in terms of fast ROI. Native ads and presell pages just convert better in most mainstream markets.