Internet Marketing Business: Factors To Guard Against Business Failure

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Success in Internet Marketing Business requires a solid and well written plan that is consistently followed with focus and commitment. In this article we look at the critical factors that contribute to internet business failures either by their absence or misuse.

1. Failure to use the proper tools

In order to succeed in internet marketing Business, you need to take your business seriously, project a professional image and invest in the marketing tools that make your life easier. These tools include among others a proper domain name,web hosting and an autoresponder. The perception of credibility is crucial when it comes to what influences your customers buying decisions.

Having your own domain name and web hosting provides you with the much needed flexibility to make any desired changes to your own website which you can not do on free replicated websites. An autoresponder assists you in capturing the contact information of your visitors, otherwise you will be wasting traffic and potential sales.

2. Failure to target the right market:

Improper market targeting is usually a case of choosing a market that is too broad. In a broad market, conversion rates are too low. You may be driving a lot of traffic but making very little sales. You need to look very closely at your product and the key words you use to describe your market. It is not just about targeting a market but about targeting the product to the market. Proper targeting requires narrowing down your market to a laser-targeted submarket, or niche.

3. Driving the wrong kind of traffic

Most new internet marketers are faced with a lack of knowledge about how to drive targeted traffic to their websites. This is often compounded by the numerous traffic scams on the internet that promise delivery of million of visitors at the cost of peanuts. These types of schemes should be avoided at all costs. One should concentrate his focus on time tested and proven traffic generating Methods that include:-

-pay-per-click advertising

-Article marketing

-Social networking

-Market-specific blogs, forum and groups

-website directories submission

-Traffic exchanges

There is more to traffic than just paying for clicks. Your strategy should include use of multiple traffic-generating tactics and methods that focus on targeted traffic.

4. The absence of a proven sales system:

In order to make sales online you need to have a step-by-step plan for driving traffic to your site and then converting that traffic into paying customers. This can be achieved by the use of a squeeze page or an affiliate product review page .The latter displays a full-length product review with an opt-in form below it. Visitors read the review, and if they like the information given, they opt-in to your list,where you follow up with them using more mini reviews through autoresponders. This way you position your self as a helpful expert rather than a salesman.

5. Ineffective {or NO} Follow-up.

For affiliate marketing success one needs to be strategic in his follow up . Some of the common follow up mistakes that affiliates make include:-

-Using the solo affiliate e-mails written for you by a product owner without editing them or changing them up.

-Too much emphasis on hype and hard sales pitches.

-Failing to educate or presell prospects.

Your customers need solid information about the product and how it will address their concerns. You should also attempt to build a solid relationship with your customers.

6. Failure to monetize through additional channels:

In any successful affiliate marketing business, big profit come from having multiple revenue streams. There are two main channels of monetization as explained below:-

a) Multi-product affiliate marketing.

This simply involves collecting a group of products for a target market and promoting them from one central location rather than setting up different websites with different squeeze pages. This way you provide a variety of product option to your subscribers.

b) Content monetization through blogging.

Creating a blog is actually an extension of building the relationship with your list .Your list is a ready made source of traffic you can send directly to your blog. In your blog you can insert additional profit opportunities for yourself Such as Google adsense and other merchant’s product banners with your affiliate link.

Monetization through these two channels ensures having multiple streams of revenue which is vital for your business success.

In conclusion the above six factors contribute greatly to the failure of majority of internet marketing business. One should always be on the lookout to avoid their occurrence or mitigate the incidence of their effects. Only then will your internet business experience a natural growth curve.

 

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