Theres Only 3 Reasons You're Not Making Money

Banned 8 years ago

Pro tip: Don't suck. It doesn't have to be the best out there, but it can't suck. Oh and no traffic, well that means that you are lazy, or don't understand that you have to spend money.

Unless your strategy is to intentionally suck, sometimes this works, but it takes work to suck that bad. For example, popular music; it absolutely sucks. If you like pop music, that means you're either half deaf, or have not developed any musical taste. But since most people who listen to pop music have not spent time to develop their taste, some "singers" and "musicians" have become quite rich by perfecting the art of completely embracing the suck and sucking the best they possibly can. Sometimes this is referred to as "talent."

Meanwhile, anybody with any education in audio engineering (or audio anything Edit: seriously if you install car speakers for a living I doubt you listen to it) is sitting there thinking "People actually like that trash? You can't be serious." And then the pop star bank rolls millions.

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Sarevok

8 years ago

True.

The problem, I think, is that people don't have anything that converts (most of the time), nor do they have any traffic to speak of.

So, when they make an offer, and send traffic, they lose money. Which results, in an inability to scale.

It takes effort and talent to create an offer, and it takes money to get real solid traffic.

But I think conversion is the first piece. It has to be.

So - what advice would you give if people suck at conversion? (Since, I think this is where most marketers are stuck at, if they even reach this stage of realization).

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irawr Banned 8 years ago

Originally Posted by Sarevok

But I think conversion is the first piece. It has to be.

I would agree that's definitely a problem for most people.

#1 If you're a marketer then you're not a sales person, your job is to peek the prospect's interests and then hope the sales guy (or page) is effective.

#2 People have far less control over their actions then they think they do. It's debatable if there is even such a thing as free will.

#3 There's a lot of psychology that plays into this, I've seen conversion rates double by changing just the colors on a design. No other elements were changed, just colors. One design was pleasing and one was "attention grabbing." I thought attention grabbing was better, for this niche/offer it definitely was not.
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nicholasb

8 years ago

If you suck at conversion you have a few options, find someone who is good at it and pay them or work something out so they can do it for you on a percentage deal.

or

Take the time to get good at it, sharpen your skill an get good at it... Study successful sales pieces religiously and go out there and practice doing it on your own.

You are only one good offer away from any level of income you want...

Originally Posted by Sarevok

True.

The problem, I think, is that people don't have anything that converts (most of the time), nor do they have any traffic to speak of.

So, when they make an offer, and send traffic, they lose money. Which results, in an inability to scale.

It takes effort and talent to create an offer, and it takes money to get real solid traffic.

But I think conversion is the first piece. It has to be.

So - what advice would you give if people suck at conversion? (Since, I think this is where most marketers are stuck at, if they even reach this stage of realization).

Thanks
1 reply

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Andrew B 8 years ago

I think there are a few more reasons for not making money online but I get what you were trying to say
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- onehalf 8 years ago
  
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  JohnMcCabe 8 years ago
  
  Your offer doesn't necessarily suck. It could be a good offer if you presented it to the right people at the right time.
  
  When you are presenting a good offer to the wrong people, the fallback excuse is usually #3, no traffic. Or not enough traffic. Many times the answer is really the wrong traffic.
  
  Take your iphone example.
  
  Present a killer offer for the latest iphone to a group of people who are only interested in a simple, inexpensive device to make and receive phone calls when they need to, and it won't matter how many of them see your whiz bang offer.
  
  On the other hand, present your killer offer for the Junebug (I think that's the name - it's a simple flip phone with large numbers and minimal features) to the millennials that brag about camping outside the Apple store for days, and you aren't going to move a lot of phones.
  
  Present the right offer in the right way to enough of the right people, and you're golden. Mess one of those up, and you're hosed.
  
  Thanks
  
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Marc Rodill 8 years ago

Originally Posted by Sarevok

Which results, in an inability to scale.

As Gary Halbert would say if he were still with us...

"You can't multiply zeros!"
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writeaway

8 years ago

In other words: Traffic and Conversion.

Good point but if I may add something..... within the traffic portion of the equation, there are also several layers of conversion.

It's all about the KNOW-LIKE-TRUST-BUY process.

Get this right and you make money.

Get this wrong and you will fail to achieve your potential.

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nicholasb

8 years ago

that would fall under the system/conversion part... Know like and trust is crafted in the funnle and follow up process.

You cant generate much knowing, liking and trusting from a ppc ad. Thats all done in the follow up...

There are also many layers to each step of the process, this is just the over simplified version which was mentioned in the original post

(These are over simplified steps of course, and each step could be broken down and be talked about for hours and hours, but these are the core basics...)

Originally Posted by writeaway

In other words: Traffic and Conversion.

Good point but if I may add something..... within the traffic portion of the equation, there is also several layers of conversion.

It's all about the KNOW-LIKE-TRUST-BUY process.

Get this right and you make money.

Get this wrong and you will fail to achieve your potential.

Thanks
1 reply

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writeaway 8 years ago

Originally Posted by nicholasb

You cant generate much knowing, liking and trusting from a ppc ad. Thats all done in the follow up...

It would be foolish to generate it from the ad. You have to use the AD as a KLT filter. Anyone who's run a PPC campaign and made money knows this.

Sadly, this is where people mess up on PPC and end up paying too much money or blowing cheap clicks.

Keywords carry certain types of intent. They correlate to the KLTB process I mentioned. You use K keywords to lead to K-specific pages which funnel them through your squeeze page. If your keywords are focused on L intent, dump them on L pages ... Again the end stage is your squeeze page.

That's the open secret of PPC's 'broad match' system (Google Adwords) you can use cheap clicks and turn them into high ROI cash IF you know how keyword intent works.
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Alex65

8 years ago

n our Western culture failure is a bad thing as death
but the defeat, failure represent an important phase testing you.
for an effective marketing strategy, it is important to try and try to figure out what works best in the end, what people prefer.
test, test the results, make adjustments ...
the test phase is critical.
learn to test everything even if it seems to work
and optimize more than you can.
We also use performance indicators such as Click-Trough Rate

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Miguelito203

8 years ago

I think you should have included a forth one: mentality. A lot of people fail because they think that because we do things on the internet, there should be an "easy" button. When they find out it takes more work than they originally thought, they give up the first time they hit a bump in the road rather than working through it.

Joey

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megamind22

8 years ago

Well said nicholasb, I couldn't agree with you more mostly especially your sales funnel and the way you present your offer to your audience.

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Randall Magwood

8 years ago

Shoot if they don't even have traffic, then it's darn near impossible for them to have the first 2 reasons lol.

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tyronne78

8 years ago

As Russell Brunson would say...

"The problem is you can't spend enough to acquire a customer,and the way to fix that problem is to fix your sales funnel."

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Brent Stangel

8 years ago

Your offer sucks.

If you were given two boxes one filled with the brand new iphone whatever the latest model may be, the other box is filled with the first Nokia phone. Which one do you think will sell better?

To a group of antique phone collectors...

Present the right offer in the right way to enough of the right people, and you're golden.

The big problem I see is un-targeted or poorly targeted traffic.
i.e. "Everyone wants to make money from home."

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napoleonfirst

8 years ago

You also need the best tools from the best experts such as AKElite from Brad Callen.

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Braznyc

8 years ago

I agree with all those reasons but I think there's another one: you have to generate your own traffic.

Some eCommerce companies manipulate the traffic and the search results, they funnel the sales to somebody they chose or paid to rank better in the search results.

That's why it is important to be present in the social media and have your own blog/website to send people directly to your product.

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FUBSZ

8 years ago

One of the biggest problems I've seen with newcomers is:
They don't give it the effort and time it deserves.

They come in with an idea that if you don't make at least 3 figures a day within the first few months you failed. Which is completely insane! any business including the IM market needs constant effort.

Why would you work 8 hours a day, 5 days a week on a boring job that benefits someone else but not put in that same amount of time into your own business?

People forgot that because its online it doesn't need that amount of work. They expect instant $XXX in their first day.

When you start out, prepare to put in 10 hours of work EVERYDAY for at least a year.

You want something worthwhile? put in the hours. Then....you can reap the rewards.

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Jason Kanigan

8 years ago

You have to KNOW SOMETHING.

Then you have to use that knowledge to SOLVE A PROBLEM of value for others.

A problem they acknowledge exists.

If you're not GETTING IN FRONT OF enough people with that problem, then you're not going to get enough chances to do what you do to get paid.

Figure these things out in writing, on paper, in plain language, BEFORE you go trying to jam some technological solution in there about how to go about accomplishing them.

Biggest mistake people make is running to the tech first. Technology is not a business. It's a means to an end.

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extrememan

8 years ago

No doubt these three will be a factor but I can think of more..

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jogunn

8 years ago

Setting up and branding yourself with social media can provide a great traffic stream. With access to so many people and the ability to find groups within your niche easily, it makes bringing people back to your site, easy. You need to keep your profiles updated and relevant, though, which can be a time suck for some people.

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kimanierick

8 years ago

I agree with those reasons but not 100%. Sometimes we need just a little patience before we start making good money. Your business might be very young so you need to establish it first. Making sales does not come by magic, it is a process, and if you want the business to last long, let it grow by the right process.
but that does not justify you to be lazy. You might not be making money online because you are lazy and not doing enough. just use good SEO and you shall increase traffic to your site and other more strategies as the warriors have said. thank you.

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Asadullah72

8 years ago

100% true..

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Tomas Lodén

8 years ago

Originally Posted by nicholasb

if you aren't making money in your business it is for 1 or all 3 of these reasons.

Doesn't matter if you are an affiliate, product creator, coach, network marketer, teespringer, local marketer... Once you know what the problem is you can fix it, it can also be a combination of all 3

Here they are...

1. Your offer sucks.

If you were given two boxes one filled with the brand new iphone whatever the latest model may be, the other box is filled with the first Nokia phone. Which one do you think will sell better?

Dont fall in love and marry your offer, if it sucks scrap it move on and create or find a better offer.

2. Your System/Funnel sucks

It could just be a matter of how you are presenting your offer to your audience, your copy could suck, you may not have enough email follow ups, or enough compelling reasons for someone to buy now...

3. No traffic

or the wrong kind of traffic, you may have the best offer in the world, the best copy and sales funnel in the world. But if you aren't getting enough fresh new people to your offer and funnel a day you wont make any sales.

These are over simplified steps of course, and each step could be broken down and be talked about for hours and hours, but these are the core basics...

If you aren't making the amount of money you want to in your business, it's becasue if one or all of these 3 things...

Take an honest look at your business, offers, funnels and traffic stats and decide what needs to be fixed.

4. Don´t take action

"The possibilities are numerous once we decide to act and not react."

One of the biggest mistakes I believe people make and i see this every day, especially on this forum when trying to improve their lives is one of the simplest. They just don't take action based what they learn from HQ blogs or programs. If you aren't already taking action and doing so consistently you really need to start now.

And that's no good at all.

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DrForum

8 years ago

The first reason is that you might be lazy. Lazy people never want to engage in something that will tire them mentally and even physically. Such like persons are so concerned about their basic needs and will not go an extra mile to search for more money.
The other reason is that you may have fear and thus avoid taking risks.In this world, if you are that person who cant risk loosing anything, they you will not make money. This is because you will keep on having some fears of trying. I believe that there is always no harm in trying things out.

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BernardR

8 years ago

Hmmm .... what about your attitude or work ethic sucks.

Often people need to get themselves right before their business will work

BERNARD

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FunMakingMoney

8 years ago

Offer, funnel and traffic. They are part of the puzzle. If you can meet with someone who is looking for a product like what you offer and your offer is honest. Bingo! That is making money.

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Theres Only 3 Reasons You're Not Making Money

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