|Ðð©'§ Internet Marketing Information Library|
Marketing should be treated like a science. If you are serious about making money on the Internet, it is absolutely crucial that you spend some time testing your results and refining your approach.
Let me drive this point home. Say for example you have a website that gives you a visit to sale ratio of about 200 to 1. Not really bad as far as web sites go. Most do far worse.
Now, assume that you get 5,000 visits per month. Do the math. That's 25 sales per month. If your profit from each sale is $50, you are making $1250 per month profit from your website.
Now, what would happen, if by changing one small thing on your website, you could improve that ratio to say 150 to 1. It may not seem significant, but let's see how it works on paper.
Now, instead of 25 sales per month, you are doing 33. Multiply that by $50 and you are now making $1650 per month. That's a difference of $400. It's not like you're having to work any harder for that additional $400. Your website is always there.
Now, the example I have shown you here is quite mild to some of the drastic improvements I have seen as a result of market testing. All my life I've heard people say "don't work hard ? work smart!"
This is excellent advice. Working smart means getting more from less effort.
Well, testing is a systematic way of helping you to work smart. It's just like the scientific method, really. You may remember it from school. There are many versions of the scientific method for different disciplines and many scientists will
argue about which approach is best. For our purposes, let's take a very bare-boned and simple version. It's really all we need:
a. Generate a hypothesis.
b. Test your hypothesis by performing an experiment and recording the results.
c. Perform calculations and draw conclusions.
d. Confirm or refine your original hypothesis.
For example, let's say in the above example, we hypothesize that by adding a money back guarantee, we will get a better visit to sale ratio. This is our hypothesis. To test this, we make the change on our websites and record our results. That's our experiment. After a few weeks (or any period of time we determine to be sufficient) we conclude the experiment and perform calculation on our data. We then discover that the visit to sale ratio did, indeed, improve during the course of our test run. We can then draw a conclusion that our original hypothesis is correct. Seems pretty simple, right? Well, actually no -
* Controls and Statistical Significance*
In the preceding example, we did a pretty straightforward and simple test. However, the results we have drawn may not be valid.
For example, what if the majority of visitors we received before the test run came as the result of a banner ad campaign we were running? Then, without us knowing it, sometime during the campaign a company favorably reviews our product and drives people to our site. It could be the case that people who read that review were more likely to buy the product.
It could also be the case that they were much more likely to buy and that adding the guarantee lessened the effectiveness of the site. Or, it could even be the case that the guarantee did increase the effectiveness of the site, but not as much as we thought.
The problem is, we just don't know. To address this issue and to improve the reliability of our tests, we need to establish "controls". A control is a measure that allows us to isolate the factors which are causing the effects we record.
For example, a better way to run this test would have been to run two websites at the same time. Both of them identical in every way (promoted the same way, designed the same way - everything) except for the one element we think will make a difference. The site without the change is called the control site. The site with the change is the test subject.
This same principle can be applied to any other type of marketing. If you want to test the effectiveness of a banner ad, run two banner ads on the same site for the same period of time. If you run one banner ad on one site and the other on yet a different site, you can't be sure that your results are valid.
Using strict control techniques improves the chances that your findings will be valid.
* Statistical Significance*
Even if we use good controls, we can still never be sure of our results. There may be something affecting the test we haven't thought of. That's why we also need to resolve ourselves to the fact that the results of one single test should not be accepted as conclusive.
Rather, we need to perform a great many tests and look at the over all trends. Only after we have compiled a considerable amount of information can we safely draw any conclusions.
Just how much testing is enough is up to you. You should test until you are satisfied, but be honest with yourself. Don't just stop testing out of laziness!
* Turning tests into profits*
The idea here is to test as many different methods as possible, discover the most effective method, and crank up the volume on your best method. When you get into serious volume and your business is really doing well, even minor differences in results will have a major impact on the amount of money you take home. And sometimes very subtle and minor changes to a website will make huge differences in your results.
If you could find out which of your advertising campaigns was bringing in the most money for you, wouldn't it make sense to put more effort into that campaign? Or do more of that type of campaign? Wouldn't you be crazy not to?
... we'll show you exactly how to track and monitor the results of all of your Internet marketing efforts. After we show you the logic behind each method of testing, we'll show you the physical tools and techniques you need to employ to track your success.
Tracking is just recording the results of one campaign or another.
Testing is the systematic monitoring of these campaigns to discover what is working and what is not using the scientific method.
Article by Mark Joyner, of 1,001 Killer Internet Marketing Tactics. Mark is also the CEO of Aesop Marketing Corporation. 1001 KIMT is an absolute *must have* for anyone serious about Internet marketing. It will dramatically boost the results of any campaign in a very real and measurable way. They are offering a special right now where it comes with a bonus database of over 6,000 media contacts (including email and FAX numbers). This could genuinely be the ...
Article by Mark Joyner, of 1,001 Killer Internet Marketing Tactics. Mark is also the CEO of Aesop Marketing Corporation. 1001 KIMT is an absolute *must have* for anyone serious about Internet marketing. It will dramatically boost the results of any campaign in a very real and measurable way. They are offering a special right now where it comes with a bonus database of over 6,000 media contacts (including email and FAX numbers). Get the ultimate marketing seminar by Mark Joyner now - http://www.markjoynerseminarvideos.official.ws
Physical and Mental Fitness for Internet Marketers
As you may have already read in our article "Health effects of internet marketing", internet marketers are particularly prone to a number of negative health effects due to the long hours and significant effort necessary to develop and maintain an online business. Those who choose to do so at the end of an already long working day are perhaps more at risk than most and could therefore benefit most from an improvement in both their routine and their environment.
Marketing Maxims for Todays Challenging Times
These are turbulent times for all businesses - necessitating streamlined marketing processes that are finely honed to mesh with today's sputtering global economy.
Seven Tips For A Successful Internet Marketing Campaign
Often there can seem to be very little difference between two marketing campaigns. However the difference between average marketing and profitable marketing is immense. Here are my 7 tips for ensuring success from your marketing campaign.
Online Sales: 10 Incredible Online Sales Tactics To Make Your Sales Soar
Are you interested in making your online sales soar like an eagle?
How Can You Can Go From Zero To Hero Overnight? Viral Marketing!
Everyone has heard about viral marketing but what is it and how long will it survive?
Internet Marketing - The Two Faces of FREE
'FREE' is the reason people are successful, and make a fortune marketing on the internet, yet 'FREE' is also the reason 90% of people fail miserably!
Creating Information Products For Money, Image And Success
There has never been a more exciting and profitable time to create your own online product. Recent breakthroughs in the costs of software, broadband, online hosting, and teleconferencing combined with the explosion of internet sales, makes it easier than ever before for any coach to create their own products. Even better, with the advent of automation, it's never been easier to automate the entire sales and distribution of your product, providing you with a passive stream of income while you sleep. An information product can be delivered in many different formats; as an e-book, e-course, special report, manual, tutorial, home study course, tele-class, intensive program, etc. Audio and video can even be added to any of these formats, simply and easily from home, something that wasn't possible even just a few years ago. Why is it important to have your own product on the internet? Positions you as an expert - Perception is everything on the internet and the creation of your own product results in positioning you as an expert and is a critical step in generating new business. Builds your brand identity - Your product represents you and your business in the marketplace, and making it available on the Web is the first step toward getting your product into more hands, heads, and homes. Reaches a global marketplace - Having a product available on the Web means that you've expanded your geographic marketplace to the entire world via your website and your affiliate's websites. Creates a 24/7, passive revenue, profit machine - The Web never sleeps which means that you can literally turn your computer and website into a cash register around the clock, and many, if not all, of the processes can be automated. Instantly increases the effectiveness of yours sales cycle - This is especially critical for coaches. Often a consumer will opt to purchase a product as a trial before deciding to purchase your service. Having a quality product available on the Web allows them to get to know a bit more about you and what you have to offer. In addition to the great benefits listed above, there are several more which apply specifically to information products and make them an even more attractive choice. They are remarkably cost-effective - Since traditional production and distribution is unnecessary, your costs are significantly reduced and your margin for profit is significantly increased. Increase your speed to market - While it might take months or years to get a hardbound book written, edited, published, produced, and distributed to book stores, you can deliver the same content in the format of an e-book and bring it into the world in a matter of days or weeks instead. Content can be leveraged in several formats - The same content can be presented in several different formats; as an e-book, an e-course, a tele-class, a home study course, and the list goes on and on. My Book Yourself Solid product line is a perfect example. See how I've created a full product line at www.BookYourselfSolid.com. Opportunity for bold self-expression and learning - The Web allows you to get your message to millions simultaneously while at the same time offering you the opportunity to learn in action as you challenge yourself to create something totally unique. Now is the time to get into action. Product creation does not have to be that difficult. To learn more, visit http://www.90dayproduct.com. Before you know it you'll be hearing the beautiful, melodic, 'ka-ching, ka-ching' sound of your website turned cash register, as the orders come rolling in.
Online Marketing Law! Whats Happening?
You read that right. There's a new law in California for online marketing. This law is thanks to the California's Online Privacy Protection Act.
A Hitchhikers Guide to the Internet
"Where do you work?"
Its a Community Thing!
You have this great website, you have sent out e-mails regarding your services, printed out hundreds of brochures which you have given to friends and relatives, but what you really need is to get people talking about what you offer. You know that if you can do that, people will recommend you to others and your client base will begin to grow. Sounds great, doesn't it? But how on earth do you get people talking?
How To Identify Ideal Money Making Web Opportunities
I was winding my way up the levels of a very crowded parking garage the other day. The line of cars desperately seeking a spot ahead of me kept turning to the right.
Never Underestimate the Value of Giving Things Away
"Never underestimate the value of giving things away." I remember as kid hearing these words on a regular basis. In fact this philosophy was re-enforced so much by my parents in my younger years that it has become a part of who I am today. But, I'm also a businessperson who enjoys earning a living, and in business, our primary goal is to maximize profits. So we have what appears to be an obvious conflict here. How does one remain profitable, let alone increase profit levels if they're giving things away?
Sex and the Gods of Internet Marketing
Whenever I mention my occupation to a non-wired person, it seems to generate the same response:
Targeted Traffic is More Important than Ever!
In the early days of web development, business owners had learned the very expensive lesson that a Web site with no visitors is of little value. Once the business owner learned that methods could be utilized to increase their visibility through search engine optimization, it then became apparent that the traffic that really benefited them, was "targeted traffic." It only made sense that if you were selling a solution, the person who will buy the solution are the ones experiencing a problem or challenge. It also became obvious that the best products and services to sell online were niche or specialized markets. Large volumes of "general visitors" (general volume traffic) may have looked nice on a statistics report but only the truly "targeted visitors" (target traffic) were usually the visitors making purchases or doing business at the Web site.
Is that Niche Really Going to Make You Money?
Find a niche; pick a niche, niche markets will make you rich
How to Market Your Web Site with Ethical Linking
Your web site's search engine rankings are determined in part by the popularity of your site. This link popularity is a function of the quality and number of other web sites that link to your site. Generally speaking the more quality inbound links to your site, the higher your site will appear in the SE results for relevant search phrases.
Raising Your Rates Can *Increase* Your Business
How many times have I heard literal horror stories from Internet business startups? Too many times to count! I get emails from those who just simply can't seem to make a living online. They've tried everything (according to them) and are still struggling to make ends meet.
Online Advertising Sinks into the Abyss!
Back in the ancient days of 1994 when Mark Andreesen and his band of hardy programmers were inventing a ground-breaking product/application/way of life called a browser, a dedicated group of entrepreneurs started publishing Netsurfer Digest a modern day "Hitchhikers Guide to the Galaxy" for the web. I subscribed to this wonderful newsletter and reference guide back in those heady days of yesteryear and have been a loyal subscriber and advocate since then. Sadly on this past Sunday I received notice that Netsurfer was moving to a paid subscription only model and would no longer be able to continue publishing their three primary newsletters by utilizing inserted ads as their sole source of revenue.
Big Advertising Mistake - Dont Do This and It Will Save Your Advertising Budget!
Advertising plays an important role in your business (every business, actually!). But, there is one BIG mistake advertisers frequently do and this mistake could cost you a bundle!
8 Must Know Tips I Wish I Had Known a Year Ago, About Internet Marketing Online
Are you considering working from home. I have been self-teaching myself what it takes for over 5 years. Learn from my mistakes so you don't have to make them yourself. Tips include, web marketing online, customer service, balancing time, family and more.
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