Affiliate Marketing Explained for Beginners

The introduction of affiliate marketing may be very overwhelming for beginners.

If you are just beginning you may be easily distracted by all the different strategies available for marketing.

However, if you plan your actions and focus on this, you will make a difference. But first, you need to realize that affiliate marketing takes a lot of time and effort to build your affiliate business, and you need to focus on this; otherwise, you will end up frustrated.

Membership marketing for beginners can be confusing, but when you develop an action plan and focus on this time, it will become easier. So here are things you need to have:

Affiliate Marketing
Stay focused

Thousands of affiliate programs will attract you to join them, and promise to obtain huge profits with very low investment. If you participate in fierce competition, please expect to spend precious time around fictitious profit margins.

 

You must learn the correct method of internet marketing to get actual profits. Internet novices have a major advantage: they can buy off-the-shelf products that can be sold to generate cash immediately. With this method, you can now earn about $10,000 per month.

 

Find a good mentor before entering affiliate marketing.

 

There are hundreds of sites and thousands of online marketing opportunities. Search engines provide a way to attract traffic or buyers interested in products. If the buyer does not see the page you want to advertise, it does not mean that the buyer does not get what they want.

 

You can be sure that other websites are selling at your cost, just make the web-page appear in front of the seller at the exact time when the seller is looking for the product. This is only one example of how member products are marketed.

 

 

Online marketing is a scientific process that constantly changes as technology advances. Unless your business plan clarifies the entire marketing blueprint and you have a sufficient understanding of the processes and changes to be implemented, you will likely compete for high positions in search engines.

 

Ideally, you should look for an excellent mentor to teach you the basics in an easy-to-understand and implementable way without the technical knowledge required to sell products.

 

If you want to learn about member marketing for beginners, please follow the success stories and recommendations published on marketing forums, review sites, and rank based on the published member sales revenue. The good news is that if you follow the instructions provided, you can use several genuine programs that can bring you a lot of benefits.

 

Treat affiliate marketing as a serious business.

 

You may have heard that only 5% of affiliate marketers actually made money. The reason is simple. If you are not suitable to run a business and complete the processes required for profit, then you will not make money.

 

So, is online marketing effective? The Internet is a rapidly developing and vibrant atmosphere. The membership plan you join must provide technical expertise, back-end support, and must keep pace with the times. For example, e-books on product marketing must provide up-to-date information to help users follow the ethical process used to promote products.

 

As long as you find the right program, are willing to learn, and find the right mentor, membership marketing is very easy for beginners.

Purpose and Focus
Affiliate Marketing Staying focused

Promote something

 

The purpose of becoming a member is to promote others’ products, so you need to decide what you want to promote. When deciding on the product to promote, please take some time to understand the product, get as much information about the product as possible, and understand the product. In this way, it can improve your credibility, your readers can feel your sincerity, and people will know if you are talking about something.

 

Promote your product somewhere

 

Member marketing for beginners involves many aspects, including building a web page, a website, any form of the login page, squeeze page, or just a blog. Many times, affiliates are at this stage because they are afraid of the process involved in building a web page. However, if you think about it, the construction site these days has become very easy to use, and if I can add, the price is lower. Not to mention the ease of creating a website. To make it easier for you, you can simply create a simple blog using free resources.

 

Build traffic to your web-page/blog or website.

 

Don’t just let nature follow its course. You need to do something to help  people find your website and attract attention. Member marketing for beginners now involves different marketing types that have recently emerged, so there is no reason to keep your website free of traffic. Compared to previous types of advertising, you need to pay per click so that you can advertise your website, and now you can use other free resources to generate a lot of traffic for your website. This is what they call backlinks. The popularity of a website now depends on the number of backlinks a website has.

 

How to find good products to promote

 

One of the most important components of affiliate marketing is to choose the right products for promotion. The fact is that even if your offers are flooded in, you won’t see many sales if the products you choose to promote are not worth a dime. In a worse case, you may even damage your reputation in the niche market by recommending poor products.

 

So, how to find good products to promote? Before deciding on a product, the following four factors need to be considered:

 

1) Demand-Is there a demand for products?

 

In the afternoon, many products were put together, and there was not much research done at all. If the demand for the product is insufficient, please discard it. Looking for products that many people want and need. These can take the form of tutorials, memberships, user guides, videos, etc.

 

2) What is the commission-commission structure?

 

What is your bottom line commission? It’s best to check the final amount you will get, not just the percentage provided. I believe you will agree that a 30% commission for 100 USD is better than a 75% commission for a 10 USD product. In addition, you may want to consider whether the product is a regular payment or a one-time payment. Sometimes, it’s worth promoting a regular $10 commission instead of a one-time $50 commission.

 

3) Conversion-Is the sales letter of the product convincing?

 

Is the order button visible? Also, check the bonus provided by the product owner. Whether these bonuses are tempting, or just a pile of useless materials makes it likely that no one will care. If the sales letter is not convincing, you will have difficulty converting visitors into buyers.

 

4) Tools- Have any tools been created for members?

 

Although I don’t recommend you to use the “canned” ads that come with the affiliate tool, good graphics, testimonials, backstory, etc. are very useful for your marketing. Having a range of membership tools can also be a good indicator of how important product owners are in supporting their members.

 

Affiliates introduce or sell company products in exchange for commissions. You need to understand this basic concept. This is very similar to selling products offline, the difference is that the sales process becomes faster and has a wider reach, just because millions of Internet users are using their computers or laptops every day to find online product.

 

Types of affiliate marketing

 

Today, affiliate marketing programs are becoming more and more popular for making money online. There are many reasons for this situation, the most common reason is that the business has great potential, can obtain profits at a very low cost, and is very simple to start the company. Member marketing now plays a vital role in the internet marketing world. Alliance members can choose different types of programs and start making money online.

 

Pay-per-click

 

Pay-per – click is the most common affiliate marketing model for members of small websites, and can be the fastest way to make money. It is a practice for members to position product ties on retailer websites on their websites. Whenever someone visits the merchant’s website by clicking a link on the member’s website, the member receives a certain commission. The Commission shall be paid on the basis of the number of visits to the Member’s website. Normally, the company doesn’t make a lot of money for participants, so the reward sum is very low.

Pay-per-view

 

PPS is the most common model in member marketing programs today. In this model, advertisers pay commissions for the sale of their products. In this type of model, website owners place advertisements on their websites, and if any visitor clicks on an advertisement and purchases a product, the website will receive a sales commission.

 

Pay-for-performance

 

Pay-for-performance is another popular membership model in the industry, it is the highest salary model for members. In this model, merchants only pay affiliate members when their recommendation is turned into action (that is, the recommended visitor actually purchases products from the merchant’s website or when the visitor becomes a potential customer). This means that merchants make a lot of money.

 

Paying by potential customers

 

The membership model of paying by potential customers is often used by financial and insurance companies engaged in the development of potential customers of the company. In this model, the visitor, through the efforts of the member, pays the member when the visitor fills out the registration form or similar documents or provides any type of personal information on the merchant’s website.

 

 

Pay per link

 

Members place links to merchant products on their websites. The owner pays based on the number of links you put and the amount of traffic generated.

 

 

Pay per registration

 

After redirecting from your website, the number of people who will register at the merchant’s site or quote for their offer is considered “registered.” For each registration provided by your website, you will get paid

If you want to make money through affiliate marketing, you must study it carefully and consider whether you are willing to spend time making it work. In addition, please carefully study the types of products you want to sell. Check various providers and compare the commissions provided by each provider for each sale.

This has been a lot of information to take in all at once.

In the coming weeks I plan to break it down.

Will you start your own membership site?

Will you Create your own digital product?

Or will you study other Creators Valuable Products?

 

 

 

7 Easy Steps to Start an Online Business

Starting An Online Internet Business

7 Tips To Make It Easier

For several years I did research online to find the real internet “gurus” to learn how to start an online business. Everything that I saw I had to learn about. The problem was, I was trying to learn too many things at once.

 

Quick note: The more I tried to learn the more confusing it all seemed. I had to slow down to make any progress at all.

There are many ways to earn money online. Among the most popular are online stores, affiliate marketing, internet auctions and selling information products or e-books. I have subscribed to newsletters, read e-books and even listened to tele-seminars to learn about all of these and more. In the process of learning, guess what happened? I was reading about the success of others and becoming very frustrated with my lack of success. I have learned some lessons along the way. Here are some tips, I hope you will find helpful:

1. Start a Blog. A blog is a necessary tool in starting your online business. Your blog is your business home. Blogs help you to brand yourself and when you get the skills to sell your products or if you choose to sell affiliate products your customers will know you.

  • When you have a blog you are seen as a person with authority.
  • Customers get to know and trust you.

You do need your own word press blog. Don’t use a Free Blog as it limits what you can do with it and it could be shut down.

2. Create a business around something you are passionate about.

What are your Interests?

  • Health and Wellness
  • Pets
  • Personal development
  • Ebay
  • Selling info products
  • Travel

3. Set realistic goals that are well defined. Keep it simple, especially if you are just starting out. For example, you could set a goal of seven days.

  • Purchase a Domain Name that Brands you
  • Set up a Blog
  • Do your First Blog Post
  • Develop your Products (what do you want to sell)

I had so many broad, complicated goals that  I could not reach them.  I may as well have had no goals at all.

You must Clearly define what you want to accomplish in this business of yours

4. Decide on a budget for your business…There is no such thing a get rich quick.

You must treat business as a business and you have to know how you will drive traffic to your business Hub (Your Blog)

Here is a Great Place to Start


What Tools will you need?

  • Blogging Platform
  • Autoresponder

How will you learn the skills needed to build a sucessful business?

  • Purchase Courses
  • Hire a coach

How will you promote your Business?

  • Social Media (Twitter, Instagram, Facebook)
  • Paid Advertising (Google, Bing, Facebook ads)

5. How will you follow up with your customers?

Content Marketing is a Great way to attract and continue building relationships.

The definition of Content Marketing straight from The Content Marketing Institute describes perfectly what we are looking to accomplish in our business.

Content marketing is used throughout the whole selling process.

  • Attract new visitors to Blog
  • Engage the Audience
  • Generate leads
  • Convert leads into Customers
  • The Upsell (sell additional products to existing customers.

6. Have a positive mindset! If you think you are going to fail, most likely you will. Avoid listening to others who tell you that you can’t do it.  Talk with others about your business who are positive.  Believe me, it really helps!

Instead of speaking negative thoughts like I am overwhelmed why not say I am learning something new and this Feels Great.

Learn New things Daily and then practice and show others.

Surround yourself with a group of successful people.

7. Take action! One of the biggest mistakes that I made was doing so much research, that is all I was doing.

Bring out the child in yourself. Make it a game.

The funny thing is, most of the information I read told me to take action but I didn’t listen. I had a million reasons why I couldn’t just go ahead and start making money online. I didn’t know enough yet or I had not saved enough money. I learned the most by actually doing what I had only been dreaming about before.

By following these tips, I know you will find success online even if you just want to earn some extra money. If you make some mistakes, and you probably will, learn from them and use it as a tool to become more successful.

How to Build your Business Part Time When Life gets in the Way.

If you are Building your online Business part-time  It can be tough.

There may be times when hours in your day to day Job that pays the bills demands more of your time.

On those days you may only have 15-20 minutes to work your business.

 

Just know it happens to everyone and the important thing to remember is you will get another 24hour tomorrow.

Pace yourself and realize you are unique and should go at the pace you desire.

You should be working on your goals daily and stretching yourself but don’t let it stress you so much that you let your relationships suffer.

Find Balance and include your family in what you are doing.

When your daily goals aren’t achievable for one day don’t beat yourself up.

Check on them weekly and as long as you are moving forward congratulate yourself and re-adjust.

You may find you can prepare for next week during some downtime.

I find my less hectic days come in spurts and that is the time I use to get a little more work done.

When you find bigger chunks of Time you can devote to your business work on writing some emails, blog post or video concepts for the upcoming week.

Record keeping
Plan to Win

I found this helps reduce the Stress when trying to work a full time job  and  get tasks done in your home business.

 

Always Stay Positive and joyfully continue on your Journey.

 

That’s it for today.

Thank you for stopping by.

 

P.S.  You can Work Less and Live More.  And remember… you’re dream lifestyle is always just 30 minutes away!

 

Get Your Freedom Escape Plan

 

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Day 7 Stacking Your Efforts in your Business Planning

We’re coming to the end of our seven-day Business Plan Challenge.

Business planning helps create an explosive way to develop traffic, customers, and most importantly income.

 

Much of what we’ve reviewed so far has been actionable tasks:

  1. Listing your objectives and business Goals
  2. Developing a winning attitude
  3. Take on new Tasks. Get Out of your Comfort Zone.

Let’s Review some Marketing Strategies:

  • Blogging about niche topics
  • Budget money for advertising
  • Use Social Media to Drive Traffic to your Blog
  • Explore new marketing strategies out of Your Comfort Zone
  • Set up a Youtube Channel

 

Change is a Choice

Video is fast becoming the main source for getting your Brand Known

On day 3 when we discussed increasing website traffic, subscribers, as well as clients to add to our profits.

Today we broaden on this whole concept.

Continue with Social Media, Blogging and include Video into your Marketing Plan.

The idea is to make progress on your goals and stack them in a manner that offers you greater success.

Below’s an example.

Set a goal which is to grow your current part-time income by $1,500 a month so you can quit your day job.

Meet business objective by expanding your web traffic to build your community.

If Reaching your $1,500 your goal allows you to leave a job.

Set more enthusiastic goals and include one more strategy to increase your profit to $6,000.

Using some of the profits it is time to Scale your business.

  1. Take a percentage per month to play around with Facebook ads.
  2. Time to outsource some task contracting out several of the continuous tasks that hold you back.

 

Hire a Virtual Assistant to help with tasks and now you’re truly making progress.

 

Contact entrepreneurs in your specific niche and collaborate with each other.

Do you see how this works?

One goal improves on the other as well as stacking objectives to generate crazy growth.

Of course, this is just the beginning.

Always be stretching yourself pushing for Bigger Goals

My point is this …

If you start to think strategically keeping one eye on your next few objectives, you can start to stack your efforts.

Plan for that explosive growth in a lot less time than you may think.

Try it!

We’re coming to the end of our seven-day tips to making use of a well thought out business plan.

Let’s increase customers, as well as most notably a growing income.

To Recap:

One goal will build on the next and they all work with each other to create rapid growth.

My point is this …

  • Believe in yourself
  • Have Written Goals
  • Review your Goals often
  • Track your Progress Daily
  • Have a Daily Method of Operation
  • Get out of your Comfort Zone
  • Try new things.
  • If doing Video Scares you. It is time to do it.
  • Work on developing your Marketing Skills (The Home Business Academy)

Follow these steps consistently. Doing this will create explosive growth for your business.

Day 6 Real Growth Requires You To Step Out Of Your Comfort Zone

 

Can you think back on a time of real life-changing Growth, be it in-home business, in your individual life, or anywhere else? Did you need to get out of your comfort zone?

More than likely, you had to step out of a place where you are comfortable for that growth to occur.

Yes, we can make progress by doing what we have actually always done.

danger zone

It will be slow as well as much more notably, by staying within your comfort zone, you are limiting your possible development.

It’s when we step out of that area, try something new, take a little bit of danger, and allow for personal and skills growth that we start to see big changes for the better.

Let’s say your goal is to grow your reach and also increase your target audience.

What you’ve done so far and what really feels comfy is creating a blog post a week and afterwards sharing it on social networks.

Yes, some readers will certainly discover you.

Yes, if you increase workload, publishing even more blog posts per week as well as sharing regularly across all your social media accounts, you will see some increased growth in your business.

However, you’re remaining in your comfort zone.

 

What if instead of increasing the same types of tasks you switched it up a bit.

Why not explore writing as a guest blogger on another blog for more exposure?

How about finally facing your fears and start a YouTube, Channel?

Youtube is a perfect way to repurpose some old blog post.

Once you produce your video on the Blog topic you can embed it on your blog post to give new life to your Blog.

Including Video in the mix of your weekly workload increases your chances of being found and building your community.

Recording a series of video clips provides you with the opportunity to get to a totally different part of your target market.

There are lots of people who would rather view video web content to typed out articles on a Blog.

There are people that spend hrs daily on YouTube who would never come across you and your blog otherwise.

Investing money on paid ads can sound like a terrifying idea but once you find something that works, convert well and you if you have a budget it may be time to scale with advertising.

Note this should not be done without knowing what your conversions are.

If you decide to put your money into paid ads make sure are tracking your results

I would like to mention everyone feels awkward when starting something new.

Remember your first Blog post?

How long did it take you to finally hit the publish button?

When you start anything it may seem hard or awkward but with consistent work, it does get easier.

So jump out of your comfort zone.

If you need to set up a Youtube do it today!

Then do your first video.

Good luck.

 

Day 5 Write Your Business Goals Down. Why is this important

 

In this short little series on setting Business goals, I have discussed the importance of recording goals by writing them down.

This is not just an exercise, there’s a whole lot more to it. There have been studies that suggest this is a very important step.

In this post I share my ideas on this and also with any luck influence you to jot down your very own objectives going forward.

By the way, this benefits any kind of goal, not just business ones.

The basic act of writing your goals down helps to give Clarity and, doubles your chances of success.

Why Business Planning Is The Secret To Success For The Coming Year

 

Record keeping

That’s a pretty big bargain by itself, isn’t it?

If you take it a step further and have those goals recorded on computer or phone and review them often, you’re 10 times more likely to have success.

Check out that last line once again, please. That’s right … you can increase your possibilities of making it by 1,000%.

That’s astonishing.
There are a few different mental and psychological processes going on below that start to give us a glimpse into why it is so crucial and efficient to jot our objectives down.

The first is that it is better to keep in mind something that we’ve written down.

You have actually experienced this with your grocery store list.

When you make a mental list of 10 or 15 items, you’re likely to forget fifty per cent of them when you reach the store.

If you write out the grocery list on the on a piece of paper, and after that end up neglecting it on the counter, you will remember the huge majority of the products you needed.

This is explained through the fact that information has to be moved from one location of the mind to one more to transform it from ideas right into created words on paper.

A process called encoding is part of the equation. This helps you retain and store the details much better.

It’s the reason we’re asked to make a note or keep in mind throughout lectures in college.

Last but not least, when you list your goals, you have something you can evaluate regularly.

This includes an additional layer of cognitive handling as well as raises your opportunities of success.

Sadly, only an extremely small percentage of people make the time to routinely examine business goals and objectives.

The ones that do review business goals on a regular basis are the most effective at meeting the goals they set,

Success leaves clues so if successful business owners are writing down goals should we follow their lead.

To recap, start by setting smart goals.

Write them down in as much detail as possible.

Our objectives should be routinely reviewed to keep on track.

This can be once a week, twice a week or even daily.

Use this goal setting and reviewing goals routine for this coming quarter.

Record an objective. Make the goal as clear as possible. This might be something like ultimately producing that very first paid product or adding a specific dollar amount to your bottom line.

Choose a definite date when you’ll reach your goal and also how you plan to get there.

Write everything down and also commit to reviewing it daily.

This will bring clarity to the business goal and keep you on track.

Reviewing Goals regularly will give you clarity and will provide focus to progress forward in having a successful Business Plan.

Check out The Home Business Academy for premier leadership, sales & marketing Education for today’s heart centered home business entrepreneur…

 

Day 4 How To Work Backwards To Set Your Business Goals

Today I wish to share my thinking procedure for establishing smart business goals with you.

 

 

I like to function backwards from a monetary goal to everyday order of business.

Below’s just how that works.

It starts with a cash objective. It helps if that goal has a significance monthly dollar amount.

Let’s say that I want to buy a brand-new automobile.

The repayment is around $400  monthly. To represent other variables like tax obligations and also simply to be risk-free, I’ll bump the objective as much as $600.

Simply put, I decide to include all variables bump up the money needed to $600 (or even more … more is always much better) to my regular monthly bottom line.

When that’s done I know what I need to have coming in to cover the cost before purchasing my new Automobille.

Once I know how much money I need to make, I can start to think of different ways to do just that.

I could increase my traffic to get more clients to my site and convert a percentage of them into buying customers.

If I have a $10 eBook, I would have to make an added 60 sales per month. From there I can function backwards. If I recognize that usually, one out of 10 e-mail subscribers acquire the book within the first month of registering,

I would have to add 600 brand-new subscribers to my subscriber’s list, which subsequently takes 4,000 brand-new site visitors to my website. If that’s my plan, I understand that my daily to-do list needs to include a lot of activity steps to ramp up my web traffic by an extra 4,000 people monthly.

Certainly that’s not my only choice.

I can also produce some additional affiliate offers and market it to both my existing as well as new customers.

I could produce a higher-valued thing so I require to make a whole lot less month-to-month sales to reach my $600 goal. As an example, if I create a wonderful $100 product, it would just take 6 sales monthly to pay for the auto.

Because the car repayment will certainly be a recurring thing, it also makes good sense to check into repeating repayments.

This could be my very own subscription, or I can check out affiliate product with monthly compensations.

Depending on your market, there’s a lot out there that you can advertise.

For me, one alternative might be to develop some content around web content advertising and marketing a Membership site like The Home Business Academy.

The Home Business Academy has Great Training and affiliate payments of 80 per cent monthly recurring payments of $100 in commissions each month.

Let’s say it’s $100 to keep the math simple. I only require 6 active monthly customers to pay for my car.

Once I reach that number, I only need to include the periodic brand-new member to cover cancellations. Getting one or two more members in each month going forward ought to more than cover that.

Now I have a concrete goal to focus on which is persuading 6 individuals to register for the subscription.

My daily jobs will certainly consist of things like developing material that includes an offer to the low-end subscription.

This could be a brief report about making use of the training to construct targeted sub checklists of individuals thinking about utilizing The Home Business Academy training.

I start driving website traffic to the material as well as the opt-in offer on how to start a Home Business and offer The Home Business Academy membership.

I may also craft a brief autoresponder sequence to develop an evergreen funnel.

That’s just the tip of the iceberg. I could offer free valuable content showcasing the training in HBA’s Membership site.

Knowing the number of sales needed to safely cover my new automobile purchase and increasing my bottom line those extra $600 each month is the motivation to grow a profitable business.

Adding New Opportunities are great helping to overshoot the objective by many additional sales as well as it’s something I can continue to expand month after month.

Day 3 Increasing Traffic, Subscribers & Customers To Boost Your Bottom Line

 

 

Traffic is needed to grow your revenue.

That subsequently implies you require even more people to register for your list.

Where do these new clients come from? You obtain them by boosting the web traffic to your site.

Here are some things you will need to do as well as staying focused on your goals.

 

Step one:

Obtain more traffic from numerous different sources.

This ought to always be a priority as well as something you review frequently.

Track your development as you move along as well as watch out for fresh new ideas to enhance your traffic.

Step Two:

Your following emphasis must be getting more subscribers.

As you start to get even more traffic, your email/subscribers list will certainly begin to expand but don’t get too comfortable.

Continue toTweak your opt in-forms to raise conversion. Create a brand-new lead magnet to get the attention of various sub-group of your target market.

Set up a few committed opt-in web pages and also begin driving web traffic to them.

Do what you can to continually grow your community and gain ground while doing so.

Step Three:

The 3rd piece of the problem and where things get exciting is turning those clients into customers.

You desire them to invest cash with you either by purchasing your products and services or via your affiliate links.

You may offer more products. Increase your costs.

Provide more appealing content by reviewing tools and course you may want to promote as an affiliate. Work with your funnels.

There’s a great deal you can do to grow your profits once you have web traffic and also customers identified.

The actual power of this technique becomes apparent when you begin to look at just how these three things operate in harmony.

By obtaining even more and higher quality web traffic, while improving your opt-in prices, as well as producing greater value with sales funnels that convert well.

You can easily make a substantial distinction in your bottom line.

Each of these components alone will certainly aid, but by incorporating them, you will begin to see rapid development.

 

Know your number

Let me highlight this with an example. What if with 100 brand-new site visitors each day. 10 per cent of them enrol in your newsletter, which means 10 new subscribers every day. Out of your 10  subscribers, one chooses to purchase your product at $10.

Now let’s say you increase your web traffic. With nothing else but scaling your web traffic, you go from making $10 per day to $20. What if you can likewise improve your opt-in with a Free Ebook and this increases your conversions to 20%.

You additionally develop a couple of even more items and each of your customers ends up spending 3 times as much as in the past.

When we add all that up you go from making $10 daily to 40 new clients every day which means 4 brand-new customers.

If each of them invests $30 buying your products or affiliate offer you are showing them, you wind up making $120.

That’s a quite huge bump from $10 while still just requiring you to increase your web traffic. Pretty outstanding, isn’t it?

You obtain them by increasing the website traffic to your site. Get extra web traffic from various different sources.

As you begin to get more traffic, your checklist will start to grow, however, don’t stop there. There’s a whole lot you can do to expand your baseline once you have web traffic and customers figured out.

By getting even more targeted traffic while creating consistent valuable content, as well as creating and offering higher costs products with sales funnels that consistently grow your community you can have a significant increase to your profit margin.

 

Day 2 Know your Numbers before Starting your Business Plan

 

Getting your Business Plan for 2020!

Are you getting ready to take your online business to the next level and watch some massive growth unfold over the coming months? That is Great.

Before you start to develop and plan what you want to do to make that happen, it’s important to stop and figure out where you’re at right now.

Developing a Business plan for future success is all about data.

You can function most successfully and spend your time and money most effectively if you know exactly where you are starting from. By recording information, you can start to see what’s working, what isn’t, and what trends are starting to play out. And it all starts with knowing where you’re at right now.

 

Record keeping

So let’s take a look at some of the information you want to record.

First, decide how you want to record this information.  There are several ways to record including handwriting this information in a notebook,  using a word document to do it digitally or use a spreadsheet.

I prefer a spreadsheet because I have the option to have multiple columns for additional information like weekly and monthly averages and even map it all out in dates to help me get a clearer picture.

Some key information needed to go forward with a successful business plan is the following.

Trafic is needed to grow your reach and build your community.

That means getting more traffic but also involving the people that come to your site by encouraging them to click around and get more. information.

Important things to keep track of:  Total overall visitors, unique visitors, bounce rate, and of course it is important to know where the traffic is coming from.

Once you get traffic to site your next goal is always to get these visitors on your list.

Here you want to track total number of subscribers, conversion rates for each of your opt-in forms and pages, open rates for your emails, and also unsubscribes. As you begin to gather and review this information regularly, you’ll get a much better picture of your subscribers.

Subscribers are great, but customers are better.

Start by monitoring how many total clients you have and how many purchases daily, weekly, and monthly.

Some other important numbers to look at are the total lifetime value of your average customer, repeat purchases, and refund rates.

Finally, let’s take a look at your profits. This is your typical accounting data. You want to keep track of your expenses as well as your income.

With those two sets of numbers, you can easily calculate your overall profit. I find it helpful to look at income for the month, but track profits on a daily basis.

Yes, you can take a look at most of this data in various different places like your shopping cart, google analytics and your autoresponder service for example, but it’s important to have it all this data in one place. This makes it a lot easier to connect the dots and see the relationships between the various sets of numbers.

Once you have your initial information collection set up, make it a new routine to update the numbers regularly so you can see what’s working, what isn’t, and just how much you’re growing as you move through the next, weeks, months and years.