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Internet Marketing Success Requires a Business Plan (Part II)
Formal business planning is a process that takes that "great idea" and subjects it to rigorous scrutiny. It either validates your premise or else shows you where the idea falls apart. Business planning forces you to identify costs and develop a sensible marketing strategy before you start spending money. Having a solid business plan will also help you to acquire funding, if necessary.
So what should an Internet marketing business plan address? At minimum, it should be a written document that covers:
Expected Return on Investment
If your "great idea" still makes sense after going through this sobering process, then by all means proceed. You are way ahead of someone who just jumps on the Internet with no knowledge of where they are headed. Unlike those unfortunate souls, you will know your target, what you are doing (and why), and have a barometer against which to gauge your progress. Bon Voyage!
About the Author
Al Kernek is an Internet marketing consultant and the author of "Put Your Business Online," a step-by-step guide for successfully creating and promoting a low-cost Website.
Viral Marketing:10 High-Impact, Viral Marketing Strategies,To Explode Your Sales
Hello, do you have any website that is not bringing in a lot of sales?
Seven Strategies To Make Money On The Net Regularly
You can attract 1,000's of prospects to you. You only need to be equipped with your own web site and an unlimited product or service to sell.
How To Create An Automated Income Producer
One of my favorite net marketing tasks is creating a FREE report or e-course and watching it fill with subscribers on an autoresponder.
How Internet Marketeres Can Create Their Own Powerful Niche... Even In an Over-Crowded Industry!
For some reason, people who look to the internet to make more money or start their own online business are drawn to the internet marketing or home business industries. Ironically, these marketers (and I was one of them!) become affiliates for "make money from home" products, or buy reprint rights for the same, and thus try to sell something they have no experience in.
Scared Of Creating Your Own Info Product?
Don't be scare off when you hear about product creation or the term 'product'. Basically a product can be almost anything you put together that pass on quality information, and contrary to what you may think, it can be created very easily once you know how.
Making Money from Websites - Common Pitfalls of Beginners and How to Avoid Them
Making money online is really easy to do because the entire world is becoming Internet savvy with a preference for shopping online. Because of this fact, you need to make sure you are doing your best to meet the needs of individuals online and increasing the internet traffic coming to your website.
When is Spying on Your Competition a Complete Waste of Time?
Your brain screams "Gimme Fast", "Gimme Easy", "Do it for me automatically"! So when you see the headline that reads...
Autoresponders Are the Key to Freedom from the Burden of Emails
In today's business world emails are essential to the success of any business. As your business grows so will the number of emails you will receive. The bad news is that people expect prompt replies to their email inquiries. Unless you can figure out how to work continual twenty-four hour shifts, or hire enough people to constantly monitor incoming emails (while they're eating up your revenue), you have a problem. Before you reach the point of exhaustion trying to keep up with answering the mountain of emails that threatens to bury you alive every single day, you need to learn about autoresponders.
Building An Effective Banner Campaign
Banner advertising can dramatically help you increase traffic to your web site. Banner advertising can be a very cost effective marketing solution and can help you to gain access to millions of internet users. It can also prove to be a huge waste of time, even creating a net loss rather than increasing your bottom line. So we'll try to guide you onto the path to true results and a very successful Internet Marketing campaign using banner ads. First things first: What's it going to cost you? Assuming you're going to design and building your own banners, you can still loose money on the cost of advertising if you're not careful. Work out the estimated cost of each banner advertising campaign: Cost-per-Visitor: If you pay $10 per thousand impressions ($10/CPM), and you get a 2.0% click-through (20 visitors), your cost-per-visitor is $.50 ($10 per 20 visitors). Cost-per-Sale: Now you know about what you're going to pay per visitor. So what does that amount to per sale? Well, if 1 in every 20 visitors buys your product, your cost per sale is $10.00. Total Sale Amount : $9.95 USD Paypal's Fee Amount : -$0.59 USD Net Profit Amount : $9.36 USD So if each sale of your product produces a gross profit of $9.36, then your net profit per-sale will be -$.64 ($9.36 gross profit - $10 cost-per-sale). This campaign is not profitable! As you can see, something has to change in order to make a profit. That's why it's important to track and calculate every campaign. So what went wrong with this example? -Paying too much for the banner space? -Need a better click-through rate? -Need to charge more for your product? The truth is that only you have the information required to decide but at least at this point you're in a better position to make a qualified decision. Return on Investment Ratios: Your return-on-investment (ROI), before non-marketing expenses, is 0.0% ($0.00 total net profits with a $10 investment). Experiment by advertising on multiple sites or using different banners if your budget will allow it. Find the perfect campaigns that yield the highest ROI. A few terms to know: » CPM - Cost Per Impressions (The "M" comes from the Roman numeral for 1,000). So $20 CPM represents $20 per 1,000 displays of a banner). An Impressions is simply each time your banner is shown. » CPC - Cost Per Click. You pay an agreed amount for each click-through to your site. » Click-Through (CT) - A click on an ad which takes the viewer to another site. » Click-Through Rate (CTR) - This is the number of people who click on an ad (banner or text link) divided by the number of displays of the ad, represented in percentages. Example: 500 people click on an ad that has been shown 10,000 times, which works out at: 500/10,000 X 100% = 5%. » Run Of Site (ROS) - This means your banner will be displayed on all or most pages of the site. Buying or Creating your own banners: You can find a graphic designer to create your banner or you can simply learn to design and build you own. We have done both on this site and our research shows almost equal results when using identical conditions. We're not going to give tutorials on banner design but we will offer a few tips to help get you started. If you decide to purchase your banners: Do your research. There are many so called ' graphic designers' that have very little training or experience with any type of graphics much less internet marketing or banner advertising. Get any promises or guarantees in writing. Keep in mind that anyone can setup shop online and many have no idea what they're doing to say the least. Do it yourself banners: There are several options when it comes to creating your own banners. Again, we're not here to teach you how to design and build your own, just to guide you in the right direction. Here are a few things to consider: » Think through your design. » Decide on a format. » Flash or Animated. » Image or HTML. » The best banner size. » Image load times. Image or HTML? Well, most of the banners we see are image based, whether .gif, .jpg of flash. But there is another very simple alternative. The HTML banner. You can even combine images and HTML to create incredible banners. A couple benefits of using a HTML banner are: » HTML banner will normally load faster. » On a HTML banner, you can promote many links. Banners sizes: 468 x 60.....Full banner 234 x 60.....Half banner 392 x 72.....Full banner with vertical navigation bar 120 x 240...Vertical banner 125 x 125...Square button 120 x 90.....Button #1 120 x 60.....Button #2 88 x 31.......Micro button A few tips: Use attractive and attention grabbing images. Keep your text short and simple. Use proven key words like "free" and "now". "Free" is a very powerful incentive for the viewer to click on the button. Even the words "Click Here" can increase your click-through rate. Use a large font size for your message text. Create different versions of the banner. Test different banners to improve your click-through rate. Animate your banner, but use as few frames as possible to keep the file size to a quick loading minimum. Test new banners with a Pay Per Click network, before you use them in Pay Per Impression campaigns. Many sites display two different banners on each page, while others display the same banner at the top "top fold" and bottom "bottom fold" of each page. When given a choice, it's usually best to choose the top fold of page because the viewer is more likely to see your banner. You can expect to pay a lot less for "bottom fold" of page banner spaces. Brian Hawkins - Entrepreneur, Internet Marketer, Online business consultant, Author. Site owner and administrator of several sites including: http://www.extremesitepromotions.com/ and http://www.csc4u.com/
What Businesses are Succeeding on the Net?
The most basic question any Internet business owner will have to answer at one point or another?"what should I sell?".
The New Marketing Landscape
Many of us in the marketing services and/or agency business are starting to see some real tangible marketing patterns emerging that businesses need to be aware of if they want to leverage their marketing dollars in this "post .com implosion economy."
When Internet Marketing Gurus Sell Their Souls
If you're just getting started in Internet Marketing, you may be awed by the amount of "Internet Gurus" out there, each one making millions of dollars (or so they claim) and for some reason seem more than willing, for a fee, to teach you their biggest, most intimate secrets.
Things I Learned from Corey Rudl
On Wednesday, the first day of June, I received the following email from Corey;
7 Simple Steps To Web Wealth
A lot of people and companies have websites. They also have products and services they want people to know about. Unfortunately, most of these people and companies waste most of their time on things that don't help them to make money. Here are 7 areas to focus on that will help you make more money:
Internet Marketing Strategy:The Advertising Co-op
The advertising co-op is an Internet marketing strategy that should bring sustained financial success.
To All Internet Marketers - How To Get My Business
More and more people are realizing that the Internet offers great potential to set up a healthy business for pennies on the dollar. This is good news for internet marketers - but it also means that they need to lift their game.
Sales Training: How To Succeed Online By Networking Your Business
The backbone of business success is communication.
Online AD Tracking ? An Ongoing Process
Without tracking, your online advertising is just a shot in the dark. Many new and seasoned marketing individuals spend significant dollars on Pay-per-click (PPC) banner advertisements, ezline ads, and other online media but do not know which ads have brought them the greatest success.
Making Money in the Online Dating Gold Rush of 2004
Have you noticed the explosion of Websites related to love, sex, matchmaking, relationships, etc.? They're popping up all over the place. Why the sudden popularity you ask? Well, the reason for this "gold rush" towards Online Dating & Relationship Oriented Websites is really quite simple: people are making a lot of money with them!
10 Ways To Make Your Sales Soaring
1. Maximize the effectiveness of your banner ads. Don't just use the same ad on every banner, use a variety to attract the greatest number of clickers. Use a banner system, which changes the banners at you website.See: http://www.domainregistry.de
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