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Online Marketing Basics

Apply These Basics and Your Business Will Fly

Business is business… online, offline - the principles, the fundamentals are the same!


Are you applying them to whatever it is you’re trying to achieve?  And... if not, how’s that working out for you?


Successful entrepreneurs and business people, both offline and on, understand and always apply the basic fundamentals of business, which is why they always achieve results and always appear to land on their feet (in whatever they do).


If this is not you (yet)… let’s start from the beginning!



What are the components of an online business?


[1] Product, Service or Information


If you have nothing to offer or sell, you will not make money online.  Regardless of whether it’s a product, a service or valuable information and whether it belongs to you or you’re simply an affiliate or distributor, if you don’t have it – you can’t sell it.


So, yes… this is the first component of your online business - a commodity that people will pay you money for.  And you should know that not everyone will pay you money for everything, so choosing your product or service or whatever it is you want to make money online with is important.


You should be looking to offer something that has large appeal, resolves an issue for a wide range of people or is in significant demand in a specific niche.  You’re basically looking to offer something that a lot of people have a need or desire for so there are sufficient potential customers for your business to thrive, even in the face thousands of competitors.


There are tens of thousands of products and services to choose from, but no attempt will be made to list them here or tell you which is best (that’s entirely subjective) – just know that if you go to the market empty handed, you will come away empty handed.



[2] Identify Your Target Market


While it’s possible to identify who you want to sell to before deciding what it is you want to sell to them.  It seems more logical to choose your product and then identify who your customers are going to be.


Now, you might already have an idea who would benefit from your product (or service) but that doesn’t necessarily mean everyone is a “perfect fit” for your offer.  Certain groups of people may be more susceptible to your offer than others and it’s for this reason, when you start marketing, that you direct your efforts at the group who are most likely to respond favourably - after all, it’s likely that’s where the money is at.


This is called targeting and it’s very important. For example, trying to sell a high-priced product with mass appeals to a demographic of low wage earners is not going to make you many sales, even if the people think the product is great.  It’s not purely about the price of your product or service, but price is a key factor.


Different products and services suit different demographics, so it’s impossible to give you any pointers without knowing what you feel comfortable selling or marketing, but you can discover resources and services that appeal to a broad demographic of today’s Internet savvy population here (opens in new window).


Once you know the type of customer you’re going to target, you should take a little time to understand their needs – why your product or service will appeal to them.  Once you understand this, making the right approach to encourage a sale becomes infinitely easier.



[3] Presentation (of the product)


So, you know what you want to sell and you know who you want to sell it to.  The BIG question now is… how are they going to know that you have a resolution to their problem.  And we say “problem” because in most cases, people typically buy things that resolve issues for them or make their lives easier.  


Well, we are talking about online business (though this also applies to offline business) – so… a website might be your first consideration for the presentation of your product to potential customers.  Billions of people own a device which is connected to the Internet and having a website in this modern age is not only easy, it’s highly important.  


Certainly, for Internet marketers, having a website is a MUST.  Apart from the ad which directs a visitor to your website, it’s the first point of contact a potential customer has with your product or service – this is where the real first impression is made and is one of the make or break points in the whole sales process.


Simply put… no website = no making money online!


But… just having a website isn’t quite enough.  There are certain elements and resources that successful Internet Marketers always utilise to ensure better results and more sales that have enabled them to live the “Internet Lifestyle” - You can learn more about these in the Articles and How To sections of this website.



[4] Value Proposition


“A value proposition is a promise of value to be delivered, communicated, and acknowledged. It is also a belief from the customer about how value (benefit) will be delivered, experienced and acquired.” - (source: https://en.wikipedia.org/wiki/Value_proposition)


This is closely related to the presentation of your product/service. In fact, the two things go hand in hand and exist to form the beginning of a relationship that you will have with your potential customer.


Because not everyone buys impulsively, you need to consider that your visitor may want to make careful consideration before putting money in your pocket.  And this is where your “value proposition” supports the first impression a visitor has on arriving at your website.  


If what they see matches what they’re looking for and what they’re promised fulfils their needs, then the likelihood is that your website visitor will want to engage with you further with a view to becoming your customer.  



[5] Contact Management


Every one of the elements that forms this online business overview is important.  However, the ability to retain a line of communication with your potential customer and manage their expectations is perhaps THE most important – this is typically where you close the deal and make sales.


This is your opportunity to do the confirming, telling and selling – giving your lead confidence in you and your product or service such that when they do choose to buy… it’ll be from you.


There are many ways to communicate with people, from written mail to email and telephone calls.  The best results typically occur when your contact is unobtrusive – you’ve managed your potential customer’s expectations about how and when you will communicate with them and empowered them to control or determine when they receive or digest your information.


This makes them more comfortable with your relationship, which can only be a positive thing when coming to a decision about spending money.


And... the best thing is, this can all be handled for you… automatically!


Click here to learn how.



[6] Advertising Medium(s)


Listing all possible advertising methods would result in a novel of epic proportions.  The possibilities are endless and you can even use offline methods to advertise your online business.


But, in brief, the common choices for advertising your business can be split into just 2 forms – free advertising and paid advertising.  The method you choose will depend on your budget – paid advertising typically gets faster results than free resources, unless you’re very well connected socially (discover a proven social media marketing strategy).  


What you should know however, is that advertising is a consistent process.  Big brands like Microsoft and McDonalds advertise in so many places all of the time – like television, Internet, radio, magazines, newspapers, billboards, on vehicles, on the back of till receipts, etc etc etc.


Why do they do spend so much money on all these advertising resources?  Because they know they need to be seen by millions of people to make sales of their products and services.


It’s no different for you if you want to succeed online.  Resources like social media, traffic exchanges, mailer sites, paid to click (PTC) networks, solo ad vendors (who sell clicks to your site from their lists) are all sources that successful marketers use to get traffic (human visitors) to their websites and offers to make sales.


But remember, just getting people to your site is not enough!  Once they’re there, you still have to make sure they have the best possible experience possible such that they are ready to spend money with you.



[7] Testing & Evaluation


This process is logical.  As human beings, we cannot expect to get everything right first time. Whatever materials you produce or use should be tested for effectiveness – be it an ad, a website, a series of emails, or anything that forms part of your sales process.


You’re testing to see how well your entire process converts visitors into customers and sales.  It could be the title/headline of your ad, it could be the look and feel of your website, the message it delivers or simply what you say in your follow-up with your leads that makes all the difference.


Test for clicks on your ad, opt-in rates via your website or open rates of your emails to see where things could be improved for better results.  The more you test, tweak and improve, the better your results and sales will be.



[8] Scaling


Once you believe you have your best setup, your marketing process is fine-tuned and you’ve started making sales, it’s time to think about growing your business. Scaling up your business from making a few dollars, to making hundreds even thousands of dollars a month will require a degree of self-control and some sacrifice.


It’s easy to think you’ve “made it” when those first few sales start arriving in your account, it’s important to resist the urge to go crazy and spend that money, specifically on things that you don’t absolutely need.


In fact, it’s wise to put anything from 25% to 50% of your earnings towards an advertising budget.  This will give you the capability of delivering more traffic to your offer(s) and faster, thus speeding up and increasing your sales volume.


This again is a continuous process – there is no end.  If you stop doing the things that have gotten you to the point where your business is growing successfully, your business will fall into decline and your hard work will all be undone.  


But, keeping things moving in the right direction at this point is infinitely easier than getting your business up and running in the first place.



[9] Repetition


A term you may come across quite often is “rinse and repeat”.  It simply refers to the action of repeating the activities that you have success with to continue benefiting from them.


At this stage, you’ll already know what’s working or where you can make improvements to further increase your profitability – so it’s simply a case of continuous monitoring, adjusting and ensuring your process continues to perform as expected.


You only need repeat the parts of the process that work well and you only need adjust the parts of the process that either under perform or produce less desirable results.



Summary


It might seem like there’s a lot to take in, but all of the above elements are extremely relevant and important. They should all be in your consideration when starting out with any business.


No successful business or individuals doing business leave anything to chance.  Sometimes it can be about luck or good timing, but for the most part it’s about following good business practice, applying proven business principles and employing the above “online marketing basics”.


Easy Profits Academy will guide you!


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LEARN HOW YOU CAN EASILY MAKE MONEY ONLINE

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Online Marketing Basics

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Ways to Get Website Traffic

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