Every successful online (Internet) Marketing system comes down to five components:
COMPONENT# 1: Your Market:
Every business serves a target market.Your market forms the foundation of your potential customer base.Therefore it is crucial that you identify your market correctly before you go into business.What are you looking for exactly?you want to chooses a market that satisfies the following criteria: ->HUNGRY FOR SOLUTION> - WILLING TO SPEND DISPOSABLE INCOME ON SOLUTIONS>-EASY TO REACH.
NB:
If you don't target a strong market from the beginning ,you could do everything right and still fail.
In other words, a good market consist of a large number of people with a common need who have enough spending power.
Another way of talking about markets is to ask yourself the question,''What niche do I want to go into?'' Do you want to target golfers,home buyers,musicians,fitness fanatics?These days,the terms ''market'' and ''niche'' are nearly interchangeable in most people's minds You'll hear business owners talk about being ''in the health or wellness market'' or ''in the financial market'' and so on .However ,there is an important distinction between the two that you must note:every market presents a niche,but not every niche represents a viable and profitable market,it is not helpful that you want to target ''golfer'' or fitness fanatics''. This is by far too broad.There is no universal golf market of fitness market.Likewise you cannot create a market were they don't exist.''Cold'' markets always results from improper targeting,whether broad or too narrow.You also risk running into nonexistent market if you launch your solution prior to doing your research.Product marketing is really secondary to market targeting.pay attention to your market above all,and the rest will follow.Target the market first,determine it's need,and then either create or locate a product to address those needs.There is nothing wrong with brainstorming ides but market selection should be governed by real research and hard data .
COMPONENT #2 YOUR OFFER:
Many business owners believe that their products is synonymous with their offer.While this is true on the surface,it is far too simplistic and shortsighted an idea to hold if you want to generate a serious income from your business.You will be years ahead if you memorize this one concept : people do not by products - they buy solutions.Shift your focus away from the details and features of your product.Look instead for the problems it can solve.The solution you offer.This is true whether you are selling downloadable information or physical goods.Think about this for a moment : a good pair of roller skates can save a child's boredom problem as well as his parents frustration problem.A strong offer consists of more than just a primary solution.It also includes intangible benefits and focus on presenting the solution to the costumer as '' the right solution at the right time and the right place' No matter which market you go into , you must position your product as a solution,and you must market it as a solution.I hope this makes clear just how much robust and complex your offer to your market can(and should )' be.
COMPONENT #3 :TRAFFIC:
Driving traffic to your website or shop or warehouse (e.t.c.) is much like luring potential customers into a brick -and-mortar storefront.If no one shops in your store,you go out of business.If no one visits your website,you go out of business.
Let's extend this metaphor a bit.Everyone who visits your site has an agenda.A certain percentage of your visitors arrive knowing exactly want they want,and they'll purchase it right away.A larger percent of your visitors require more time and persuasion to make buying decision.They need the equivalent of sales associate to assist them .Finally,the remaining percentage of traffic walks back out the door when they realize they're in a wrong place.
Now, while you cannot control your visitors' ultimate agendas,you can control the percentage of visitors coming to your site who are open to your efforts at turning them into potential customers.In order words you can improve your sales by generating targeted traffic so you minimize the amount of window -shoppers coming to your site,while boosting the number of immediate costumers and prospective customers.You should know before you get involved in internet business that the majority of your traffic .no matter how well targeted it is ,will consists of prospects -potential customers.You can celebrate those visitors who purchase from you during their first visit,but just keep in mind that this is rarity.The core of your revenue is going to come from the targeted prospects you've collected onto an opt-in mailing list and converted into repeat customers.
So,what is targeted traffic?A visitor is considered targeted when he can be identified as a member of your target market. In order to generate and direct targeted traffic from your market to your Website,then you must be able to locate sources of market-specific traffic..Targeted traffic plays just as large role in the conversion process of your offer and your sales copy.Why? Because it is just as important to get your offer in front of the right people as it is to make the right offer to them. If you are selling tennis rackets, you obviously don't want any visitors who are searching for baseball bats.
You must discover the specific segment of your market that will be interested in your offer,then generate traffic by advertising to that segment of that market..Proper market research will reveal to you who to target and where.
COMPONENT # 4 : BACKEND:
''Backend'' is a strange term isn't it?At least, I always thought so until I learned what this bit of marketing lingo actually means.The backend refers to the offers you make as follow-ups after an initial sale.In case you were wondering,marketers also use the terms ''front-end'' and ''mid- level'' when discussing the different points along a sales funnel (the plan or actual achievement of converting prospects into sales.)
The front-end refers to the lead offer or lead product.Your lead offer is when you advertise or promote your market from your Web site - the offer initially draws them to your site and onto your opt -in list.
The mid-level is another way of referring to the classic up-sell -trying to persuade the customer to buy a more expensive product or related additional product at a discount.Midlevel offers are presented to customer prior to completing the front-sale.For now you need to focus on the front -end and back-end. The majority of your income is going to be generated by backend offers.
COMPONENT #5: DUPLICATION:
Many people's systems end at component #4,but this should not be the case.The final step ,always,is to duplicate your existing business model/system into other markets or into horizontal product lines within the same market.Once you've established yourself successfully with your current business (and put the business on autopilot ), you can hunt down new opportunities and repeat these same steps.
FIND MARKETS-># CREATE AN OFFER ->#DRIVE TRAFFIC TO THE OFFER->#PRESENT BACKEND OFFERS.
# MARKET+OFFER+TRAFFIC+BACK-END+DUPLICATION#
COMPONENT# 1: Your Market:
Every business serves a target market.Your market forms the foundation of your potential customer base.Therefore it is crucial that you identify your market correctly before you go into business.What are you looking for exactly?you want to chooses a market that satisfies the following criteria: ->HUNGRY FOR SOLUTION> - WILLING TO SPEND DISPOSABLE INCOME ON SOLUTIONS>-EASY TO REACH.
NB:
If you don't target a strong market from the beginning ,you could do everything right and still fail.
In other words, a good market consist of a large number of people with a common need who have enough spending power.
Another way of talking about markets is to ask yourself the question,''What niche do I want to go into?'' Do you want to target golfers,home buyers,musicians,fitness fanatics?These days,the terms ''market'' and ''niche'' are nearly interchangeable in most people's minds You'll hear business owners talk about being ''in the health or wellness market'' or ''in the financial market'' and so on .However ,there is an important distinction between the two that you must note:every market presents a niche,but not every niche represents a viable and profitable market,it is not helpful that you want to target ''golfer'' or fitness fanatics''. This is by far too broad.There is no universal golf market of fitness market.Likewise you cannot create a market were they don't exist.''Cold'' markets always results from improper targeting,whether broad or too narrow.You also risk running into nonexistent market if you launch your solution prior to doing your research.Product marketing is really secondary to market targeting.pay attention to your market above all,and the rest will follow.Target the market first,determine it's need,and then either create or locate a product to address those needs.There is nothing wrong with brainstorming ides but market selection should be governed by real research and hard data .
COMPONENT #2 YOUR OFFER:
Many business owners believe that their products is synonymous with their offer.While this is true on the surface,it is far too simplistic and shortsighted an idea to hold if you want to generate a serious income from your business.You will be years ahead if you memorize this one concept : people do not by products - they buy solutions.Shift your focus away from the details and features of your product.Look instead for the problems it can solve.The solution you offer.This is true whether you are selling downloadable information or physical goods.Think about this for a moment : a good pair of roller skates can save a child's boredom problem as well as his parents frustration problem.A strong offer consists of more than just a primary solution.It also includes intangible benefits and focus on presenting the solution to the costumer as '' the right solution at the right time and the right place' No matter which market you go into , you must position your product as a solution,and you must market it as a solution.I hope this makes clear just how much robust and complex your offer to your market can(and should )' be.
COMPONENT #3 :TRAFFIC:
Driving traffic to your website or shop or warehouse (e.t.c.) is much like luring potential customers into a brick -and-mortar storefront.If no one shops in your store,you go out of business.If no one visits your website,you go out of business.
Let's extend this metaphor a bit.Everyone who visits your site has an agenda.A certain percentage of your visitors arrive knowing exactly want they want,and they'll purchase it right away.A larger percent of your visitors require more time and persuasion to make buying decision.They need the equivalent of sales associate to assist them .Finally,the remaining percentage of traffic walks back out the door when they realize they're in a wrong place.
Now, while you cannot control your visitors' ultimate agendas,you can control the percentage of visitors coming to your site who are open to your efforts at turning them into potential customers.In order words you can improve your sales by generating targeted traffic so you minimize the amount of window -shoppers coming to your site,while boosting the number of immediate costumers and prospective customers.You should know before you get involved in internet business that the majority of your traffic .no matter how well targeted it is ,will consists of prospects -potential customers.You can celebrate those visitors who purchase from you during their first visit,but just keep in mind that this is rarity.The core of your revenue is going to come from the targeted prospects you've collected onto an opt-in mailing list and converted into repeat customers.
So,what is targeted traffic?A visitor is considered targeted when he can be identified as a member of your target market. In order to generate and direct targeted traffic from your market to your Website,then you must be able to locate sources of market-specific traffic..Targeted traffic plays just as large role in the conversion process of your offer and your sales copy.Why? Because it is just as important to get your offer in front of the right people as it is to make the right offer to them. If you are selling tennis rackets, you obviously don't want any visitors who are searching for baseball bats.
You must discover the specific segment of your market that will be interested in your offer,then generate traffic by advertising to that segment of that market..Proper market research will reveal to you who to target and where.
COMPONENT # 4 : BACKEND:
''Backend'' is a strange term isn't it?At least, I always thought so until I learned what this bit of marketing lingo actually means.The backend refers to the offers you make as follow-ups after an initial sale.In case you were wondering,marketers also use the terms ''front-end'' and ''mid- level'' when discussing the different points along a sales funnel (the plan or actual achievement of converting prospects into sales.)
The front-end refers to the lead offer or lead product.Your lead offer is when you advertise or promote your market from your Web site - the offer initially draws them to your site and onto your opt -in list.
The mid-level is another way of referring to the classic up-sell -trying to persuade the customer to buy a more expensive product or related additional product at a discount.Midlevel offers are presented to customer prior to completing the front-sale.For now you need to focus on the front -end and back-end. The majority of your income is going to be generated by backend offers.
COMPONENT #5: DUPLICATION:
Many people's systems end at component #4,but this should not be the case.The final step ,always,is to duplicate your existing business model/system into other markets or into horizontal product lines within the same market.Once you've established yourself successfully with your current business (and put the business on autopilot ), you can hunt down new opportunities and repeat these same steps.
FIND MARKETS-># CREATE AN OFFER ->#DRIVE TRAFFIC TO THE OFFER->#PRESENT BACKEND OFFERS.
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