You are reading this because you are most likely looking for a way to exit your current job. The first thing to know about making money online is not everyone becomes a millionaire. Realistically speaking most people never reach the million-dollar mark or it takes them years to do it. I tell everyone you have to reach step one which is becoming your own boss. Think about how much you make at your current employment or have a number in mind of what you need to make every year. Most people have a goal of making $100k a year, the thing I came across is that number changes when you talk about being your own boss. A lot of people have this idea if you aren’t making hundreds of thousands or millions of dollars a year being your own boss isn’t worth it. I am here to tell you if your top priority isn’t freedom then you should reevaluate if being your own boss is for you. It is not that hard to make $40k a year online especially if it is your full-time. I would argue once you get everything set in place $100k a year is well within reach, and it takes minimal work to keep it going. There are 3 things you need to focus on to make money online:
1. Product
2. Traffic
3. Audience
4. Resources
PRODUCT
The product is obviously the star of whatever business you have online however it does not have to be earth shattering. The ideal situation would be to have a product that no one else is selling but, most successful people online are selling different variations of the same product. When choosing your product, you just need to make sure the product is something people want and need. There are many ways to do this. There are really 3 different types of products you can sell. There are physical, digital, and service products. Once you identify the right type if product to sell, you need to pick the best platform to host your product. Some platforms are better than others when it comes to physical, digital, or service based. Here is a video on how to pick your platform.
TRAFFIC
Traffic is the hardest part to selling anything online. A lot of people change the products or quit because they aren’t getting sales but what they do not realize is the amount of traffic it takes to generate a sale. A good conversion rate for an online store is around 2.5-3%. If you are just starting out, you can’t expect to have a good conversion rate. Initially you are going to need to generate a large amount of traffic before you can expect to have consistent sales. The two most popular ways to generate page traffic are paid ads and SEO (Search Engine Optimization). A popular way of doing paid advertising is through google. Google is an effective way to drive large amounts of traffic to your site. Paid Google ads can send thousands of potential customers to your site every month. You can also use Microsoft ads as well. Google is highly competitive, because of this the cost can be a lot more. Microsoft shopping ads have a 45% higher click through rate. The average cost per click is 30% lower as well. There can be many benefits to both so evaluate which one to use but if you are just starting out Microsoft Ads can be more cost effective. Search engine Optimization is a free way to generate traffic. Ranking high in any search engine can be more valuable than any paid ad. It creates a lifetime of traffic that is hard to duplicate. SEO is the easiest way to set your site on auto pilot. This is however the hardest way. You can outsource your SEO but if you want to do it on your own, I suggest you get some type of guide to help you. Once you have traffic you need to maximize your audience.
AUDIENCE = EMAIL LIST
The audience is the most important piece of your success. Your audience is your most engaged visitors. Being able to directly contact people who are interested in your products or services creates a much high conversion rate. Converting you traffic to audience will be crucial to limiting your overhead and creating consistent sales. Get use to identifying your audience by your email list. If the someone has not at least given you their email whether it was through subscription or purchase than they are not truly a part of your audience. I can not tell you how important it is to be able to get in contact with your audience directly and not through a platform. Having an email list is a true way to build an online business.
RESOURCES
For you scale and automate your business you will need resources. You will need an analytics tool such as google analytics or even semrush.com. Some places have analytics built into their platform, but I would say use a 3rd party. You will also need some type of automated funnel system such as Mailchimp or Aweber to name two. You can also rely heavily on Fiverr.com. It can be costly, but it will save you time if you outsource. I would suggest learning how to do things on your own that way you can get a better gauge on the pricing as well as the quality of work. When I first started, I was so amazed at some of the work I paid for on Fiverr but then I realized I could create the same thing in less than 20 minutes. The downside about Fiverr is that it gives the illusion that you can buy your way to success.
BEFORE YOU START HANDING OUT YOUR MONEY, I AM GOING TO TELL YOU THAT YOU WILL NOT BUY YOUR WAY TO A SUCCESSFUL ONLINE BUSINESS!!!
If you want to be successful selling online, I suggest you read and watch videos. I will also tell you that content you must pay for a lot of the time is worth the money. You will spend hours online going down the search engine rabbit hole, when you can pay $15 and save yourself days.
Enjoy this short video on how to sell online and don’t forget to subscribe!!!
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