Yep, Internet Marketing is in fact a real business and just like any other businesses, some rise, but the sad truth is, most will fail. This is just how things work in business. So the question you must ask yourself now is…
Are you doing the wrong things now that will destroy your online business?
If you’re new to internet marketing, then you probably don’t know if what you’re doing will help your business grow, or if you’re actually killing it. In fact, most newbies handle their business the wrong way, and they quickly fall into the trap of failure.
It also has a lot to do with your mentality. If all you want is quick cash, then you’re pretty much doomed. If you treat this as a real business like you should, then you’re chances of success are much greater.
Lets go over some of what you could be doing that is killing your business…
Sending Emails Without Permission (Spam)
Sending spam emails is very bad for your business. People hate spam, and any emails sent to someone who has not opt-ed into your list will be marked as spam. There is a very high chance that you’ll get reported for spamming, and when that happens, you can kiss your business good-bye!
You could even get blocked by your ISP and lose your internet connection!
So, whatever you do, do NOT send emails to people that have not requested to be on your list. It is ok to contact other people for genuine purposes but please make sure that you are not sending them offers and trying to sell to strangers. This will get you marked as a spammer faster than you can say “fail”!
Not Properly Identifying With Your Target Market
Another big mistake that many internet marketers make is they tend to jump right into a market without knowing anything about it. Honestly, how can you expect to sell to people you don’t know? How can you understand what the market really wants if you don’t know anything about them?
So make sure you understand the market, before your dive right into it.
Sure you could just jump right into a ‘hot market’ like weight loss, but, if you don’t know anything about the market or the competition, you will find yourself “stuck in a bloodbath where few make it out alive”.
So you need to know more than just the demographics of your market, you need to study your competitors if you want to survive. A good way to stay in the loop is by doing market research. Join in the discussion on forums and signup to your competitors lists in your niche.
Understand their needs, learn their “lingo”, and become one of them. Then, you’ll find it very easy to create excellent products that can last a lifetime. People will love you and your content, and you’ll easily become an expert in your niche.
Another way to learn about your competitors is to search and browse around in Google and analyze what they’re doing. This is a great way to see what’s working. Try it out, maybe you’ll find that all the hassle is actually worth it.
Trying To Market The Wrong Products
A lot of affiliate marketers seem to have this problem. Since affiliate marketing first got started people have always wondered “What should I promote?”. Some people will tell you: “Promote offers in that niche you like”, and a lot of gurus push you to promote their own offers as well. The simple answer is, you should promote offers that convert and are targeted and relevant to your target market.
Not only should the offer convert, but, it should also have a very low refund rate. This often indicates that the product is of very high quality and customers love it. If a product has a bad track record, I would avoid it like the plague.
Sometimes you might be interested in promoting a brand new product on it’s launch, so you won’t be able to check out its track record. Instead, look at the creators previous products, are the conversions high and refunds low? Also, put yourself in the shoes of the customer and read the sales page and decide whether you will buy or not. If your answer is yes then that is a good indication that the offer will convert really well too.
Don’t try to market to everyone. There’s no product on earth that everyone wants, remember that and you’ll do well. Make sure you sell to only your own target market, and you will see tremendous results with your internet marketing business.
Spending Too Much, Or Not Enough
A lot of ‘newbie’ marketers have trouble with either spending too little on traffic, or too much. The key here is proper ad tracking. Without proper tracking, you’ll never know if you’re spending your money on quality traffic or just wasting it. Test out new traffic sources in small chunks at first, and try not to over spend. Remember, that you need enough traffic to get accurate data as well.
I would recommend testing a new traffic source with about 200 or so clicks at first and if you’re not seeing any conversions at all than that is a clear sign to trash that campaign. If you’re seeing some conversions, then go up to 500 or more clicks to see how well it converts. If you’re getting a good ROE, then go all out with that campaign!
By testing and tracking your ad campaigns properly, you’ll find the perfect balance for your paid traffic and you’ll never loose money!
Of course there is a lot more mistakes people make, I’ve just covered a few of them here. Got more to add? Please share your thoughts and comments with all of us. 🙂