Just yesterday I decided to buy a book recommended by a friend called ‘The Art of Strategy’ by R I Wing. It is a modern interpretation of Sun Tzu’s The Art of War. I was drinking a cup of coffee and managed to buy it on my mobile with one hand while drinking coffee with my other hand! It occurred to me that that simple action would have been impossible only a few years ago. That is how far technology has moved on in the last 10 years. I found the item, clicked through to the checkout page and bought it with my card details which were already on the account.
I remember buying a book from the same online store years ago from my computer. Back them I had a dial up connection which kept cutting out. I had to enter my details and open an account and upload my debit/credit card details. The whole process must have taken the best part of an hour to do from start to finish. Yesterday it took less than 5 minutes to order the book to be delivered straight to my house at a fraction of the cost that it would be from a physical shop.
If the internet makes buying faster, more convenient and cheaper than going to the shops, surely this is going to catch on!!!
“Despite online growth of non-food items having increased at its lowest rate since July 2013, the proportion of online sales keeps increasing,” said Helen Dickinson, director general at the British Retail Consortium. “This is due to the enhanced online shopping experience which retailers have worked hard to provide for their customers. Retailers’ sophisticated multichannel propositions are especially convenient for shoppers who do not want to brave busy stores during the summer sale season. This means people can browse leisurely for goods online, through their mobiles, desktops or tablets, in the comfort of their own home or on the move.”
The trend in online shopping is leading business owners to diversify their portfolio to at least include an internet based side to their businesses. In terms of having a shop online it is becoming almost a necessity in order for traditional businesses to stay afloat. So what does this mean for online marketers?
The online business model of an affiliate marketer is to simply send customers to these kinds of shops, of which there is a growing number. If you own a website of any kind, chances are that there is an appropriate product which you can promote from your website simply by adding a banner or link of some kind directing would-be consumers to a related product in your niche. What this means is that you can earn a passive income from your stand alone website without actually touching a product or dealing with a customer. In addition, the online business model allows you to build many of these ’24/7 automated shops’ to your portfolio, allowing you to create hands off income trickles which can work day and night for years to come.
The ability to create a ‘hands off’ business which works whether you do or not far out performs, in the long run, the traditional business model of charging for your time. In a traditional business model if you fail to turn up for work, you don’t earn any money, and soon you will lose your job if you keep it up for long enough! Or if you are the owner you will soon be out of customers. You trade your time for money and so there is a strict limit on how much you can earn.
In the internet model you can use the power of the internet to create leverage in your business. You set up your ‘virtual shop’ and create multiple income streams from each one. Sales are made on autopilot from the work you have done previously. You are no longer trading your time for money. As you create more income streams on an ongoing basis, you can eventually scale up your business with advertising and ultimately free up more of your time while your income continues to grow.
Not only can you scale up your business efforts with an internet business through the power of advertising, marketing and by building a list of subscribers, but your business model works the same for one customer as it does for one thousands customers – or one hundred thousand.
In a traditional business you can only deal with one customer at a time. You need to be present to deliver your service and therefore there is a limited number of people you can reach at any one time. As you scale your business you need to employ more people to provide a larger customer base and to serve each one. With an internet based business model you can provide an automated service to thousands of customers at the same time without even being there! The system in place on the internet takes the money, processes the order and delivers the product/s all on autopilot. Your only job as an internet marketer once the system is in place is to direct customers towards your ‘virtual shop’ or product. The rest is automated. Provided you can do this at a lower cost than you make with your commission, you can simply scale up by increasing your advertising budget once you have proved a profitable business model.
Another great feature of an internet business is that you have a completely portable office! You can work from anywhere in the world providing you have a laptop computer and an internet connection.
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