November 26, 2019

Starting An Internet Marketing Business Online

Posted in Internet Marketing tagged , , at 6:20 pm by Randall Magwood

Are you looking to start an internet marketing business online? If so, you need to know exactly what you’re getting yourself into. Don’t think you can just enter into this industry and expect to start making millions of dollars within the next 6 months. I get requests from people all the time telling me that they want to be making $5,000 per month within 3 months. And these are people who have never sold a thing online!

One thing that you need to know is that when starting an internet marketing business online, you “kind of” have the world at your feet. There’s plenty of places to advertise, there’s plenty of ways to get free traffic to your site, there’s plenty of business owners looking to learn how to do effective marketing online, and etc. So you can be kind of spoiled once you get your hands on some training materials.

But understand that you are operating in a HIGH competition arena. A smart thing that you could do is to offer internet marketing services to local small businesses in your area. Most offline small business owners don’t have a clue about how to market their business online. But in the online world, people have training thrown at them all the time.

So I guess the best question to ask yourself is: “How am I different?” Right?? You don’t want to be a “me-too” person when marketing your products and services online. This applies if you choose to be a coach, consultant, or sell products such as books, CD’s, DVD’s, or even magazines. So how are you different? How will you separate yourself from the pack and differentiate yourself from everyone else online who are making the same claims as you?

It’s something you need to think about when launching your own internet marketing business online. Where most people get tripped up at is when, they read someone’s free ebook about internet marketing, and then go and buy a large resell rights package that is ALL ABOUT internet marketing.

Each product in the package contains something about internet marketing. More often than not, the resell rights bundle may contain products about:

  • Email marketing
  • Forum marketing
  • Youtube marketing
  • General internet marketing
  • Consumer buying behavior
  • Copywriting
  • Etc (the list goes on and on)

And most of these people spend YEARS trying to figure out a way to sell these products – if not sell them as a bundle. OR if not resell the same offer that they bought to receive these items. After years of failure, they usually leave feeling depressed, broke, and convinced that making money online is impossible… if not a scam. And this is just not true.

All of these kinds of products are supposed to teach people about niche marketing. Especially a general product about internet marketing. The real pros who sell internet marketing products successfully sell them primarily for a good reason: THEY SELL THEM FOR VERY HIGH PRICES.

They sell one course about internet marketing at $200. Then they backend sell you for another similar course at $500. Then they sell you another similar course with huge bonuses for $1000. Then they sell their 3-day seminar and invite you to attend… for the price of $2000. THEN they convince you to sign up for their monthly newsletter or membership website, and charge you $50/month to join.

How rich do you think you would be if you were to successfully get people to buy your products at these price ranges?

Meanwhile, you’re being convinced that selling $19 ebooks will save you from your day job. This is just not the case. To make $100,000 by selling $19 ebooks, you would have to sell 5000 ebooks per year. That comes out to 416 ebooks per month. Which means you would have to sell 104 ebooks per week. Which thus means you would have to sell 14 ebooks per day.

How are you going to sell 13 ebooks per day and you’re struggling to make even a dime of profit selling a $5 ebook on Ebay? You have to learn alot about internet marketing if you want to make alot of money in this business. ESPECIALLY if you’re selling information about “internet marketing”. If you’re not a guru and have been selling other niche products successfully online, don’t enter into this broad arena.

The gurus who are selling “internet marketing” products successfully have a plan that have worked well for them over the years. EVEN IF they lose money on the first sale of getting that first customer, they know how to recoup their lost, and then still profit on the next sale that they make from that customer.

They know their numbers. They know their sales conversion rate, their cost per lead, cost per sale, and their average long term value of a customer. Let me ask you a question:

If you knew that for every 1 customer you acquired, that you were going to make an average of $5000 over the lifetime of that customer spending money with you… would you care if you lost $5 just to acquire them in the first place? Of course you wouldn’t care.

But I’m sure you would care if you were spending $5 to acquire them, and then not selling to them again to recoup your profits. That would mean that for every customer you get, you would be losing $5 per sale… forever. You have to market to these customers over and over again to recoup a frontend loss. This is called “backend marketing”.

If you want to get started online in the internet marketing business, you have to bring your A-game and have a mathematical plan of how you’re going to make money. There’s alot to learn, but once you gain an understanding of how marketing online works (and how marketing in general works)… you’ll be well on your way to success in your business.

If you’re going to buy a resell rights bundle package, at least READ the information in the products you acquired so that you can know how to sell them successfully. Don’t be a hopeless cause.

If you need help with your internet marketing, simply visit below to see how I can help you personally boost your sales and profits:

Randall Magwood’s 1-Hour Internet Marketing Consulting

Randall Magwood
randall@randall-magwood.com
http://www.randall-magwood.com

Internet Marketing Consultant Randall Magwood

2 Comments »

  1. Very interesting insight… Thank you very much

  2. Nice points Randall… To be successful you must know exactly what you are doing. Unless you will be loosing money…


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