Can't Figure Out Why I'm Not Making Money

Actually, lets give kudos where they are deserved and getting a site up and getting 500 visitors a day is no slouch. It sounds like you have everything down but just making one mistake, which is how you are making money off of it. It sounds like you are trying to make it with Google Adsense and I can't remember the last time I clicked on a google Adsense ad on a website.

Your better bet is to provide something that will help them, for example, get over their insomnia. Instead of trying to make it with adsense, why not try promoting a product like this:

Brainwave Entrainment Sleep Audio - Sleep Salon

or this:

Which of these 7 mistakes cause your insomnia? | SleepTracks.com

Every sale that is promoted by you means $15 in your pocket. Even 1 sale out of those 500 day means around $450 a month. Am I correct you have only tried making money with adsense?

This ^^^

There's something else. You aren't sticking with your projects. I suspect that's because you have no vested interest in them other than potential money makers.

I've said it many times, it's wise for people starting out to market something they know and even love. I know the gurus say you need to find hungry buyers and the right keywords and all the rest.

But before you can choose a market solely on profitability you need to know what you're going. And that comes by working a sound plan (as Alexa pointed out) in a market you enjoy.

Otherwise you find yourself getting up every day and promoting stuff you have little or no interest in a drag and a chore and something you loathe. And, just as you have demonstrated in the OP, you give up on it.

In my first online marketing ventures I promoted a couple of products based on profit and did fairly well. But the money wasn't enough because I hated writing about the topic and found all kinds of ways to avoid working. That all changed when I decided to go with stuff I know and love.

Give it a try.

drewfioravanti hit the nail on the head!

Clarity is a HUGE part of IM success. I hope this post brings some clarity. It's so simple when you know it -- and darn difficult when you don't! I owe my mentors a world of thanks for bringing this clarity.

IM is actually pretty simple: you can sell only one of two things:

1. Products
2. Services

That's it!

And selling products or services online happens in the same basic way for everyone, no matter what they're selling:

Traffic > Opt-in page > Autoresponder series (or e-zine) > Sales page

That's it! It's just that simple. (We IMers tend to overcomplicate things.)

But no matter what your niche is, or whether you're selling a product or a service, do you know what your business model is?

A business model is the framework or skeleton of your business. Essentially there are three types of online business models:

1. Membership-based model

A membership-based business model allows you to build a community of people (your members) who are as passionate about your subject as you are. Your membership fees can be monthly or annual, but either way, you're building recurring, passive income.

There are a lot of resources and information out there to help you build a membership-based business if you're interested in doing this.

2. Product-based model

Selling products allows you to maximize your time and effort by selling items over and over again. This can be hard goods or it can be information products. Information marketing is it's own business model under the product-based model. Information marketing allows you to take your brain to the bank by creating a product ONCE based on what you know and selling it over and over again.

Affiliate marketing falls under both models. You can choose to market either products or services as an affiliate.

3. Service-based model

Selling services can be great for 1) generating quick cash (as in the case of article writing or video producing) and 2) establishing your expertise and getting testimonials.

However, in the long run, your goal should be to offer services at a PREMIUM. The biggest advantage of IM is LEVERAGE. You're able to leverage your time, money and expertise exponentially online. We all have just 24 hours each day. Time to get ruthless about what you expect for those hours you spend in IM each day. Expect more of yourself and more from your business friends, clients, partners, etc.

What results are you getting for those hours you spend online each day? Ultimately, your services should be at the bottom of your funnel and cost the most since they involve your time and personal attention. (We all have a limited amount of time each day.)

The fun (and confusion) comes in with all of the endless mix-and-match possibilities of the above models. If you're just starting or still struggling to make money, keep it simple:

Pick just ONE!

1. Pick ONE niche. (Something you're interested in and know something about.)

2. Pick ONE target market for your product or service. (Who will buy what you're offering? The more specific you are, the more you narrow it down, the more successful you'll be.)

3. Pick ONE business model.

Now that you're clear about what business you're in, FOCUS! (And stop buying any info not related to your niche and target market, period!)

F -- Follow
O -- One
C -- Course
U -- Until
S -- Successful

And remember: build a list, Build a List, BUILD A LIST!

In IM, it's easy to put the cart before the horse. Take a deep breath, step back and consider what type of business you REALLY want. Don't worry about getting traffic or buying that expensive traffic product until you know 1) what your business model is, 2) what niche you're in and 3) WHO your target market is!

Successful business people will tell you that MARKETING is more than half the effort that's needed for success anyway. So pick a niche, target market and business model. Then spend most of your time and effort marketing it.

If you DON'T have a solid plan or system, THAT'S when it's hard. A good system will shave YEARS (and save you big $$$) off of your learning curve

That's why I recommend investing in at least one good, comprehensive IM course (or mentor who will give you such a system) instead of jumping from one $37 e-book to the next. A lot of people here complain about not being able to make any money. But neither are they willing to invest in their business. (Buying a random bunch of $37 e-books doesn't count.)

The best thing I ever did was invest in a comprehensive IM course aimed at REAL business owners, not just other IM wannabes. Yes it was $1500. (It's no longer available.) But it was truly some of the best A-Z IM info I ever bought. Everything else I've learned (from the $37 e-books) since has simply been plugged into this system.

My two best recommendations for phenomenal IM training programs are Ali Brown's Elevate program (ElevateBizTraining.com) and Jeff Walker's Product Launch Formula (ProductLaunchFormula.com)

Get a solid plan or system and then work the plan!

Hope this helps!

Michelle

I'd have to disagree. At my websites peak I was reaching 500 visitors a day. You're right that I didn't really have much to sell. I did promote iPad tutorial videos on all my tutorial articles and an app developing course on all the others. Other money came from Adsense and small products I promoted (cases and such).

I'm starting to think a lot of my errors have been with my niche selection. There is simply little money to be made in the niches I worked in previously. I like Nightengale's idea of sticking to one thing only, and it's actually what I've tried doing in the past. I just seem to have a hard time finding a niche that I both enjoy and is profitable. I'm a huge techie so all of my sites in the past have involved tech in some way or another (with the exception of my insomnia site). Maybe I should try narrowing down into this further? (Computer hardware, computer security?) The problem is that it evolves so quickly that I don't know how sustainable it is. Seems like half of things I'd post would be irrelevant after only a few months.

So many things to consider.

This isn't right at all, Danny.

Countless Warriors are making our livings through building profitable lists without ever spending a penny on advertising.

What a bizarre claim: having an opt-in on a page doesn't somehow necessitate using paid traffic rather than any other kind.

I don't know where you get this stuff from, but it's really not helping anyone to reproduce it here.

If you haven't made listbuilding work, for yourself, and you don't want to do it, that's fine, but announcing that it necessarily involves "spending extra for advertising" is frankly weird, completely incorrect, and helps nobody.

I would forget about AdSense unless you have huge traffic volumes and you have many sites up and running.
Try to sell an affiliate product eg ClickBank.

Exactly!

But the OP has a MAJOR problem with that: he has NO CLUE what business he's really in! He has no idea what product or service he's selling and no clearly defined target market.

And if he doesn't have that, I'd bet all the tea in China that he doesn't know how to sell to that list once he gets it.

He's done a really good job of at least building a site and getting some traffic to it, which is more than a lot of Warriors do. So I have to acknowledge that.

But from a "Let's make some money!" standpoint, he's still at square one and hasn't made any progress at all.

You can't make consistent income without a list, but you can't make income without knowing how to talk to that list either.

You must be able to do BOTH equally well.

I just spent a hefty amount of time answering someone else's question on that very topic. If you're interested, you can see it here: http://www.warriorforum.com/main-int...ml#post9230955

Hope that helps!

Michelle

Ok, I'll take a stab at the niches you listed.

Computer hardware and building a computer. Are you intending to sell PC hardware? Personally, I'd stay away from things like electronics (PCs, iPhones, etc.). Technology changes fast, margins are thin and competition is based mainly on price. AND your competitors are the big box stores and every drive-you-into-the-ground low-price competitor.

You REALLY want to stay away from business models which are primarily price-driven.

An information-based business is much better (and easier). It's NOT necessarily driven by price and no inventory is required. Teaching computer building and repair is possibly a good niche.

Same thing for computer security: a VERY good niche. But here, you need to know 1) are you offering PC security info or services and 2) who's your market: consumers or businesses? That important piece of info will determine your pricing structure AND your offerings. They'll be very different depending on what niche you choose.

Dating advice... Well, dating is a HUGE niche and very competitive. But don't let that scare you off. There are lots of different products and CPA offers for this. But you need to match your offers and language to your market. Be sure that you like the market enough to stay with it long enough to make a go of it. I have no idea what your age or experience is. Selling requires an understanding of your market AND empathy with their problems (or perceived problems) Personally, high schoolers would drive me crazy. The immaturity of their thought processes, ESPECIALLY when it comes to dating... Oy vey!

Just be sure you like this market enough to stick with it. You'll be there for a while.

The anxiety for high schoolers could be a good thing, especially if you tie it into taking tests, getting good grades, getting into college. Here, you essentially have TWO markets: 1) driven, ambitious high schoolers and 2) their parents. You'd talk to high schoolers and their parents very differently and position your products/services differently.

This can easily be an information-based business. You can sell e-books, memberships, and programs. And when you tie it into getting into a good college and therefore getting a good job, it becomes very valuable and you can charge premium prices for it.

As for caffeine addiction... How many people are really looking to solve their caffeine addiction? And more importantly, how much will they pay for it? Not much. I'd scrap this idea.

Emetophobia??? I had to look this up. Disgusting! :p

Again, how many people are really looking for this info and how much will they pay? Not much. Worse, you can't build a business on this topic. At best, people are looking for a solution in passing.

When looking for a niche, ask:

1. How many people are really looking for this solution?

Enough to build a business? The caffeine addiction and emetophobia "niches" are great examples of possible individual products, NOT niches on which to build an entire business.

The computer security and anxiety in highschoolers (based around test-taking and getting into college) are VERY good niches in which you can build an entire business with multiple products and services.

The key is "multiple products and services."


2. How much will they pay?

The caffeine addiction and emetophobia "niches" are great examples of "niches" which require a very low-priced solution.

The computer security and anxiety in highschoolers (based around test-taking and getting into college) are VERY good niches in which you can charge premium prices.

3. WHO will you target?

This is KEY in determining your products and services.

For example:

Anxiety in highschoolers....

You're better off targeting parents primarily and THEN the kids. Highschool kids don't have a lot of money and often just want to goof off. Mom and Dad, however, care deeply about Johnny going off into the world and very much want the very best for him.

And they have the money to pay for it.

So target Mom and Dad and then you can charge higher prices.

Don't waste precious time trying to get a beer-guzzling teenager to opt into your list for better test scores.

Who you target will determine your offerings and pricing structure.

Now it's time to do some research. Who are your competitors? What are they offering? At what price point? Who are you selling to? The end consumer or the buyer (Mom and Dad)? How will you be different and better than those competitors?

All successful businesses focus on solving a problem or fulfilling a want. Focus on solving a problem! The more urgent/important it is, the better for you.

Pick a niche you can live with for a while and one that can bring in some money. It must support multiple products and services and at least one "high-priced" product or service. (That's relative to the market, but you get the idea.)

Pick two products or services to sell initially. (You need one as an introductory or basic offer and something to upsell to.)

I always recommend selling your own stuff, but if that feels too overwhelming right now, search for products and services in your chosen niche which you can sell as an affiliate. Then build a list and sell it.

Getting started as an affiliate can be faster since you don't have to create the products/services and it will give you invaluable experience in the market. As you gain experience, you can then sell your own stuff to that list.

But pick a niche and stick with it. Don't just sell random stuff. You'll have to build a list for whatever you'll be selling and it needs to be centered around one topic/need/problem.

Hope that helps!

Michelle

"Every method"??? As in what?

I'm sorry, but this is asinine advice! Trying every marketing method is a COMPLETE waste of time and effort until he has 1) a niche, 2) a business model, and 3) a target market.

Anything else is just beating his head against the wall and sheer stupidity.

Building a business requires reverse engineering:

1. First, pick 1) a niche, 2) a business model, and 3) a target market.

2. Then, craft some good e-mail sequences that actually sell.

3. FINALLY, start building the list, which involves getting traffic and joint venture partners.

True, these are rarely done in a vacuum. They WILL overlap, but that's the general framework.

And BTW, once you've picked a niche and that first product, you can immediately put up a squeeze page to start building the list while you're building out the business (including writing those e-mails, etc.). No website required.

Get an AWeber account and a LeadPages.net account. A single page with an opt-in form, coupled with a good free offer can immediately start building the list. Then, continually survey your list to see what they want.

As you're building out your business, scope out your competitors and get on their lists. You'll gain invaluable insight, including: 1) what they offer and 2) how they talk to their customers. Save all of the e-mails they send out.

Very helpful!

Michelle

Alexa nailed it. When my business was successful it was because of the list I built. And mind you, it wasn't a big one. Only about 6,000 subscribers. But I had some loyal ones and I could always count on X number of sales no matter what I promoted. My problem was when the traffic stopped and people started leaving the list I had no way of adding new people without traffic. So the business eventually died.

Build a list. Seriously. People who come to your site for a one shot will leave and never come back. You'll never make any real money this way.

Build a list, period.

Hey Majora,

From what you wrote, it sounds like you're doing the right thing link-building wise, but, maybe you are not choosing the right keywords. Have you made a thorough research on your keyword(s) to see how much demand there is/ how many monthly searches etc?

Also, do you have a lead magnet? Are you trying to build a list? If you do have a list, do you send them regular updates/tips/promotions? If you don't, then in my opinion you should start by writing or outsourcing a small free report about your niche and offering it as a free gift to people who sign up to your list, then you should keep in touch with them by sending them regular emails to build a rapport and build your audience. Give them tips and advice, with the occasional product promotion, and you will see. It will work. You sound like someone who is wiling to put in the work, you just need to divert your work to a different direction and believe me it will pay off.

Good luck!