Over the last two articles I have written I have discussed My Top 10 Methods For Making Money Online and 10 Ways To Increase Traffic To Your Website so what I’d like to discuss as a follow on from those ideas is the fastest way to grow your online business. Given you have a product to sell and a website to sell it from, you could spend the next 10 years following some of the methods laid out in 10 ways to increase traffic to your website, and still have a mediocre business – especially if you only use the free methods of advertising. Yes, the key to accelerating your business growth is of course advertising. Without customers you don’t have a business – just a flashy looking website.
Paid Advertising VS. Free Advertising
Free advertising sounds all well and good – after all, it’s free! However there are limitations to it. For starters, to gear your articles and videos to be found on the search engines you need a little know-how. SEO – or search engine optimization is a skill which was revered to be the ‘golden goose’ of internet marketing. However it still really only plays a small part in the successful businesses which thrive online based on their advertising expenditure. Their success isn’t based on SEO, it’s paid advertising and more specifically: paying less in advertising than they earn in revenue from that advertising. Even courses which claim to teach SEO aren’t getting all their sales from SEO – it’s paid advertising which brings in the bulk of their customers – quite ironically!
Gearing your advertising spend
Gearing your advertising so that you make twice that which you spend is the ‘magic bullet’ of many successful online marketers. This can take time and money but once you have found the formula to doubling your money you can scale up by increasing your advertising budget. You simply can’t do this with SEO. SEO relies on content which takes time and effort to create. After that content gets through to Google or YouTube, people trickle in. Some may buy and some may not. Once you have found something that works you can’t duplicate the content! You can’t scale up! You can only create more unique content which may or may not have equal success to that of your previous content! Google won’t rank duplicate content and your initial content may even be penalized if you attempt it!
This is the power of paid advertising. Taking something which works and simply increasing your daily budget.
Before scaling up, however there is a lot of work to do. You need to create adverts which direct visitors to a landing page and which gets them to subscribe to whatever it is you are offering. You can do this by offering them something of value – such as a downloadable product, an e-book, or a video series. Check out my landing page here and access the video series.
Once you have a landing page which converts, you can target your advertisements carefully to your ideal customer.
Your Ideal Customer
Whatever it is you are selling, you have an idea customer. Finding out where your ideal customer lives, what they do, their age range, likes and dislikes and various other demographics allows you to target your market much more effectively. Rather than simply sending our random adverts to anyone and everyone, you can get very specific about who you are talking to. By getting to know your target audience you can narrow down your search to include only those people who are much more likely to buy your specific product.
This will save you a tonne of time and money.
Once you have done this you can gear your advertising to target only those people. This can be done either by using Facebook demographic targeting or Adwords keyword targeting. You can also use a bunch of other methods such as banner adverts and solo adverts to target websites in your niche or mailing lists which contain your target market.
By creating adverts which specifically talk to those people individually, you only pay for the people who click on your adverts. This means you can ‘tweek’ your advertising spend to target only those who respond to your advert.
Don’t send them to your website. Do send them to a landing page with an offer on it. The reason for this is that a website has many choices, a landing page has only two – leave the page or enter your email. If you are paying for the visitor, wouldn’t it be better to be able to talk to them again and again – rather than to have only one chance at selling them your product? This is the reason for building a list of subscribers. By building a list you can build relationships with many people using an automated system which provides them with a constant steam of valuable emails.
By creating multiple adverts and tracking the responses from them, you can get an idea of how many people will subscribe for any given advert and how those subscribers behave. Getting quality subscribers is the key to building a successful online business. By ‘quality’ I mean well targeted to be interested in what you are offering. If no-one buys a product after you have tested 100-1000 people through the ‘sales funnel’, it’s back to the drawing board. If, on the other hand you have made a few sales, it’s time to decide whether it’s worth increasing your budget on that particular campaign.
Once you have a campaign which is proving itself, time and time again, you can slowly increase your advertising spend – scaling your business up using a proven method.
Advertising can be expensive and it is worth persevering at a single method before moving on to another one. Start with a small budget and try several different adverts.
High Ticket Products
If you have only small value products to sell, spending on advertising can often be too expensive to make a profit. The key is to have a high value product to sell and to target those who are looking for those kind of products. Higher value affiliate products will justify a larger advertising budget. It is often not worth paying for advertising for small value affiliate products simply because you won’t make your money back when you sell them. If you don’t have a high ticket product take a look at this one.
The fastest way to grow your online business
If money is the lifeblood of a small business, advertising is its heartbeat. Growing a small business, whether an online or an offline business, is done by advertising. Start by taking small steps and learning some new skills.
Vision and your business
Expand your vision for your business. If your vision for your business is unclear, you need to think big! Thinking small will not empower you to grow your business. Remember you can’t grow beyond your self image. Look at how you see yourself. Small businesses are often run by only one person – especially internet businesses. Are you continually growing and improving yourself? Where is the limitation in your business? It is YOU! Only by growing your self can you also grow your business.
Learn the tools and skills needed to empower yourself, grow your business and exceed your limitations. Get access to the video series here.