This is an email document that I regularly send to my subscribers so that they remain focused and directed towards making a fortune. Since we all the know that the first step towards making consistent money online is through the following steps:
b) Smart Work (Not Hard Work)
c) Extreme Focus on one aspect of IM.
The Make Money Online Business
There are 1000s of ways in which you can make money online. I could probably not even list them all - but that would over-complicate things.
I like to keep things simple. So broadly, they can be split in two ways:
- affiliate marketing - generating leads for or selling someone else' product or service
- 'e-commerce' - selling your own product or service, often through affiliates
At the end of the day, the way money is made comes down to the same basic formula:
business value = traffic * conversion * life time customer value
You can have the best deal on the planet, but if you dont put it in front of the right customer you will not last long.
Like everything in this business, there are many many different ways in which you can get traffic.
All require some level of investment - either in time or money, but often both.
The most common ways of getting visitors/traffic are:
- Organic traffic from search engines (SEO) by getting your site to rank high for your target keywords
- Viral & referral traffic from social media, video, bookmarking and article marketing sites
- Search engine advertising (like google adwords)
- Social media advertising (like facebook)
- Website advertising networks (like google content network, banner exchanges, etc)
- Adware based advertising (like CPV/PPV)
There isnt a day in the week that I dont find out about a new traffic source.
With CPA, you as an affiliate, you get paid for generating leads.
The company buying the leads from you are prepared to pay an amount because they understand the life time value of their customers and have a good conversion & optin process.
Because the CPA business is very complex and fragmented (lots of individual affiliates, lots of companies looking for leads) CPA networks act as aggregators or brokers.
They basically act as an intermediary between affiliates (know as publishers) and organisations looking for leads (advertisers).
There are 100s of CPA networks.
The key to success in this game is focus and persistence.
There are several approaches you can take:
- Vistor focussed - you understand a certain demographic and acquire customers where ever you can find them. You have deep insight in their wants, needs, desires and fears and can 'sell' a range of products and services to them that offer solutions.
- Traffic source focussed - you are a specialist at a specific traffic source / method (facebook, seo, etc) and know this source inside out. You can acquire the right customers for the lowest cost per lead and have solid understanding of the type of customers that can be targeted with this traffic source.
- Market focussed - you are a specialist at a certain type of market/offer (weight loss, dating). You know the problems this product solves, you have a clear view on the benefits and solutions the customers are looking for.
In reality, most affiliates do a combination of the above.
My recommendation, especially when your starting out, is to choose one traffic source and one market and stick with it until you know everything there is to know.
Know your metrics & monitor your ROI
The last important point to make in this general overview is that as an affiliate marketer you need to closely understand and monitor the link between your investment (time/money) and the return this generates.
The only way to not loose your shirt & create a sustainable business it to continuously monitor, test and optimize new campaigns.
Every single day!
Yes you might get lucky and launch a campaign that is immediately profitable. But it is rare and if your just starting out, it will be pure luck. However, this may not happen drastically if you have a mentor or a good coach.
Over time though, you will start to develop your natural instinct.
This instinct will help you to reduce the number of failed campaigns and increase the speed at which campaigns become profitable.
Please remember this critical fact.
Success in this business is about testing lots of things quickly and then scaling the stuff that works!
To our ever growing success,