Internet is a good platform to make money online and create wealth. To start an online business almost instantly, you can just sign up an internet marketing course which usually takes 2 to 3 solid days to complete and costs you a few thousand dollars. After the completion of the course, you are on your own to run your internet business.
However, the success rate with this approach is very low. Out of 10 participants only 5 will take action. Out of 10 participants who really take action only 1 can survive for a year. Out of 10 internet marketers who can survive for a year only 1 can really earn good money and hit 5 figure income.
The main reason is because many internet marketers are making three common mistakes again and again unknowingly. The common mistakes are as follow:
Internet Marketing is just a good plan.
You may think that you have done a perfect plan. Thus you just need to execute your plan once and you can hit the jackpot button easily.
It could only be true if you are lucky enough to have it happen. Or you know the market so well that you know exactly what the market wants. However, most of the time it sounds too good to be true.
In real internet business there is no such thing as perfect plan. You will never know the market too well as the demand of the market changes rapidly in this fast pace virtual world.
You have to keep testing the market and do proper changes to suit the market’s need. To do the testing, you have to monitor your traffic, engage your audience, ask them questions and observe the current trend to keep your website updated.
Usually, after you run your plan one time you may get some sales but it won’t be luxury. If you are unlucky, you may get zero sales as well.
This is the critical point because it is the moment where most internet marketing course graduates who take actions give up. When they see no sales is made they believe that the product is not profitable.
Focus on more than one Product at a time:
When a new internet marketer tastes the success of making some sales, he will be too eager to try another product. There is always a better product to be marketed and if he does the same thing again he will taste another glory of making some sales.
The reality is, if you want to get a 5 figure income from the internet, you do not have to sell many products at a time. In fact, you should not do that because you will definitely fail.
Most of the successful internet marketers do not start with many products. A lot of them hit their 5 figure income just selling 1 product.
This is also the main reason most of the internet marketers who survive for 1 year fail after that. If you have made some profit in a product, don’t be too excited to try to promote another product. In fact, you should focus on how to improve your sales by driving more targeting traffic and thus develop a better conversion rate.
Do Not Have Mindset for innovation:
At this stage, you probably have a stable traffic visiting your website. There are consistent sales coming in. Now, is it the right time to try new product?
Yes, you can do it. But why not you think of how to innovate your existing business to bring it up to the next level?
It is much easier to improve your existing business than try another new business. This is because you know the market very well, you know what the market wants, and you know the trend of the business.
You can think of what extra value you can offer to your existing market. Since you have built up trust on your existing customers, it is much easier to promote relevant products to your existing customers and thus increase the sales.
Internet is a great platform to build your wealth. However, like other business platforms, you will only be successful if you do it in a proper way. You will always make a lot of mistakes in the journey of internet marketing but most important thing is you must learn from there and improve from it. If you can’t, then you should at least avoid the mistakes.
Mistakes are inevitable when you are doing internet marketing. Sometimes, you will not aware of it and repeat them again and again. The internet marketing solution is you need a real successful internet marketer to coach you step by step