14 replies
Hello,
Has anyone ever seen any data that estimates how much the average 'newbie' spends trying to get started in IM? I am looking for the information for a planning product I am creating.

Thanks for your help,
Jim
#newbie #spending
  • Profile picture of the author Michael Mason
    I can't say I know the answer to that, but I bet it varies quite a bit. When I first started out I joined a website $40 and that was enough to teach me to start making money.

    Then there are some people though that just read forums and experiment for free, and don't pay anything to learn how to do internet marketing.

    At the other end of the spectrum, there are people that buy many ebooks and products that claim they show them how to make money, but don't follow through. I know of several people that have spent $1000 or more trying to learn how to do IM effectively.

    Not sure if that helps any, but it does show that beginners often go different routes. Finding the "average newbie starting costs" seems like it would be difficult, but I'm sure there are more experienced people than me that can chip in. Good luck!
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    • Profile picture of the author NavPitt
      Great question-I know I've spent around $200 in a couple of months.
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      • Profile picture of the author Kim Standerline
        NavPitt

        Instead of making useless one line comments to up your post count, why don't you contribute something useful to a thread

        Originally Posted by NavPitt View Post

        Great question-I know I've spent around $200 in a couple of months.
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      • Profile picture of the author Capone
        It is a good question. My first words of advice would be to be careful and frugal. That being said I think it varies. I spent over $1000 (and learned a lot of lessons) before I started making money. I look at it as an investment because it helped to get me where I am today. Not everyone can afford that though...so be wise and ask questions.

        Good Luck,
        Capone
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  • Profile picture of the author aaronlamont
    I would probably estimate that newbie on average would spend around $1000, typically newbies don't take action and then fall into the hype of the next big marketing launch and buy it.
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    • Profile picture of the author jmccarthy1948
      Thanks for your input. I know I spent some thousands over the years. It adds up quick if you are not careful.

      Jim
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      Jim McCarthy, CPC
      The Billion Dollar Consultant
      www.prometheusstrategy.com

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  • Profile picture of the author Loren Woirhaye
    I have observed through interaction and feedback that
    by the time they join my lists many "make money"
    newbies have in fact spent all their money and are
    broke. It's a sad state of things.

    A small number of people will but IM products and take
    action consistently enough to succeed.

    It's a good market ,"newbies" but it's best to attract the
    ones who have some money to start a business and
    the discipline to follow-through. The ones who don't -
    many of them are scrounging around for scraps... and
    when advised to write articles, for example, they don't
    write more than a few before they give up.

    By targeting "newbies" who have some financial traction in
    life, earned through hard work, you can get some good
    customers.
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    • Profile picture of the author MLD1985
      Well being a newbie. I think the reason it varies is because there are so many methods you can use to make money online. Someone might buy a article marketing blueprint, and not want to write, so after that they decide to try another method. The best thing to do is just buy one method and stick to that one till you make some money to buy other methods. I think I bought maybe 6 different ebooks in my first month. As for an average that's a hard guess.
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  • Profile picture of the author Aaron Elliott
    Be careful if you use Pay per click advertising, I spent $137 in one day when I first used google adwords. Make sure you choose your max monthly cost.
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  • Profile picture of the author Bryan Toder
    I don't even what to think about what I have spent. One year... oh, nevermind... it's making me ill.
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    • Profile picture of the author jmccarthy1948
      This has been really great information.

      I have one more quick question. Does anyone have any idea how many products the average newbie buys? Given all that I have purchased, I suspect I am somewhat over the average!

      Thanks Again,
      Jim
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      Jim McCarthy, CPC
      The Billion Dollar Consultant
      www.prometheusstrategy.com

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  • Profile picture of the author vanko007a
    Banned
    [DELETED]
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    • Profile picture of the author ShayB
      When I first got started, I bought 2 WSOs - total spent: $12.90.

      From one of those, I learned enough to make my first $50 online, and I have been in profit ever since.

      The info on this forum alone is really enough for newbies to make money without spending a dime, so if someone really wants to make money, a lack of funds is no excuse, IMHO.

      (Hope that helps with the question in the OP. )
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  • Profile picture of the author Matt Bard
    I think one of the reasons that so many new people spend so much is because of all of the different business models and they really don't know about the many paths.

    As a result, after they buy their first book on "Product Creation" they see another book about Adsense and could think "Gee I didn't read anything about that in the first book I should really get this book too and I'll be covered".

    Of course, before they can figure out that it's two different approaches, they see book number three, free report number five and so on.

    Not until they have spent a few bucks do they realize that they are in the process of becoming a "jack of all trades and master of none" get frustrated at the lack of results come in here and cuss us out then quit.
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  • Profile picture of the author JNFerree
    Perhaps you could/should categorize the investments a newbie makes in his/her IM business based on; PPC marketing, S/W tools, e-Books, Mentoring, outsourcing services, computer equipment, Guru 'garbage' JV deals etc?

    I was hoping my initial $1k investment would bring me 3-4 times the ROI within 120 days, boy was I mistaken. :rolleyes:

    Then again, there are few (if any) other new businesses where you can launch a legit operation for under $1k and compete effectively.
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