There is an ever growing community of both successful and aspiring online entrepreneurs. Many novices are trying their best to make money online and it surely sounds easy enough, with the promised return often beyond their wildest dreams. However, the reality is that not everyone will get the best results that they hope for in their online marketing.
Some will fail from the start and many will get distracted from their goals time and time again, and fall into the trap of chasing bright shiny objects, each promising to be the key to easy online riches. Sadly, almost 80% of new internet marketers will fail in the first 5 years, and despite the rosy picture of ‘1-click riches’ painted by certain less scrupulous marketers in order to convince ‘newbies’ to buy their products, success as an online entrepreneur is not easy, and is a combination of the right mindset and the application of a few basic requirements.
What are the essential requirements needed for someone just starting out to be a successful internet marketer? Well, ponder no more because below is a checklist of everything that you will need to be successful online. Combine these ingredients with the right mindset, and you will surely see success.
1. A good converting Product.
The first ingredient that we find successful internet marketers to have is a good converting product. This is very important because this will underpin your success. If you do not have a product that is of high quality that converts consistently, then you are going to have a difficult time making sales.
It does not have to be your own product, it can be an affiliate product (or products) that you are promoting, but it is equally important for success as an affiliate marketer to have good converting products.
I know of a training program that featured a million dollar plus affiliate marketer, which actually exposes all the products that he had promoted over the course of two years. It was interesting to note that of the list of 200+ products, the only high-performing products were the first few. Most of the other products had either died, or were clearly not making money. This shows that even if you only have a few good converting products, you can become a millionaire by just concentrating on a few high converting products alone.
2. Source of Targeted Traffic
The next thing on my checklist is that you need a source of target traffic that keeps converting for your products. If you can get a consistent traffic source that makes you money than by all means go all out and try to get as much of that traffic as fast as possible.
Regardless of whether it is paid or organic traffic, so long as you are making a profit, you should do your best to scale up the traffic as quickly as possible, and remember not to keep all your eggs in one basket. As our friend Google has taught us, you will never know what will happen in the future, so you should make the most of your traffic sources for as long as they are performing for you.
Don’t make the mistake of being lulled into a false sense of security and be satisfied if you find one good traffic source for your business. Make sure you develop many different traffic sources so that you will be able to survive should one of your main traffic sources die on you.
3. The Trust Factor and Building Your List
When you have a good product and traffic that converts, the next thing you will want to do is to consider the following: Do your customers trust you? Do they love your products? Are you building a long term relationship with them?
The crucial link in the strategy to building a relationship and providing long term value to your customers is to build a list, and the saying “the money is in the list” is still true despite the continuing evolution of Internet marketing.
By building a list, you can follow up with potential customers who have not yet decided to buy from you and ideally convince customers who are still ‘on the fence’ to invest in your offers. By using an autoresponder such as Aweber, the follow up process can be completely automated, eliminating all the hard work. You can now follow up with your customers infinitely and get more sales from your email marketing campaigns.
Not only that, but because of the nature of an autoresponder, you can encourage your customers to return and buy more of your products by using newsletters, promotions and recommendations.
It’s no secret that most successful marketers have a list of their own and they treat their list(s) as if they are the most important element in their business. The great thing is – and this is vital to comprehend if you are at the very start of your career as an online entrepreneur – that if you have a list in any niche that makes you money, you are pretty much in a ‘financial freedom’ status in the sense that all you need to do is to keep your list happy, and they will pump money into your Paypal account with every promotional mailing that you send out!
So, build a list early and build it the right way. Make sure you have good traffic sources, show them your best converting offers, and you will be well on the way to striking online paydirt!