What are the 3 ingredients that ensure you make money online? Most people who start out trying to make money online fail. It’s a sad but true fact. But it doesn’t have to be that way. More than 90% of people who start out with the idea of making money online, will give up within just a few months. Knowing the 3 ingredients to successfully make money online will help align you with that 10% who make it.
Forget the hyperbole that you’ve read on this subject on other websites. The fact is that it’s not easy to make money online. But it’s not impossible either. For ever person who succeeds, 9 others will fail. Often times it’s because they were either unprepared or not properly informed about what it takes to build an online business that gets results.
The truth is that you can spend hundreds, even thousands of dollars buying programs that intend to teach you how to start and run your own online business to make money online. Over the years I’ve spent literally thousands, yet I found that most of these programs and courses while full of great detail, forget the 3 most important ingredients of all.
These are the fundamentals of a successful internet marketing business, and interestingly they are in fact no different to traditional offline marketing fundamentals.
Understand Your Market and Give Them What They Want
Before starting any marketing or business building activities, you need to spend some time getting to know your market.This has and will continue to be the biggest challenge to any form of marketing. Get this part right and you can virtually start printing money.
First of all you need to find out if your product is going to satisfy their desires. The easist way to make money online, or offline for that matter is to give people what they want. The only way to do that effectively is to find out everything you can about your market. It’s going to be far easier for you to provide a product that people are lining up to buy when you know exactly what will get them into that line in the first place.
Look at your product and then start using some of the free online tools to find out everything you can about your potential customers. What do you know about them? Where do they hang out online? What drives them? What are their fears and what problems are they looking to solve.
These are just few questions you need to ask yourself about the product you want to promote. Be creative and see how far you can take this. The more you know about your market the easier it will be to match a product to them that they will be knocking down your door to get hold of.
Let Others Promote – Leverage Your Network
You’ve heard the saying “it’s not what you know, it’s who you know.” Well it’s never meant more than it does now. As an internet marketer you need to be networking. Building a large network of associates who are willing to promote you and your products is essential for success.
This network of contacts and associates has the ability to springboard your efforts and help you to spread your promotional message far and wide.
Take the time to utilize all of the different social media avenues available to you and get connected with other people who might be able to help to promote you and your products. But remember to take the time to connect and get to know these people.
Manage and develop these relationships to accelerate your online success.
Embrace Your Competition
No, I’m not kidding. The chances of finding a niche that has not yet been represented and has no competition is virtually nil. Often new internet marketers will run from a niche simply because it looks too competitive. You’re shooting yourself in the foot by running away like this. And your leaving money on the table for someone else to take.
Competition is a good thing. Most people are scared of competition. Competition tells us a number of things about the niche, and the market. It tells us first of all that there is a market. Competition tells us that people in that market are buying products. It also tells us that there are enough people buying that marketers are making enough money from that market to pay for promotion.
Using free tools like Google’s Keyword Tool, Trends, Insights for Search and others can quickly expose the competition and allow you to find the niches that are easily dominated. \
The Bottom Line
No matter which model of internet marketing business you chose, Arbitrage, Blogging, Search Marketing or Pay per Click, the fundamentals of marketing don’t change.
The more you know about your market, the more your build your network, and the more you understand ways to dominate your competition, the more success you can expect to have with your internet business.