7 Warnings for Novice Internet Marketers
First off, my fans might be probably wondering if I have abandon this site. Not at all! My wife had “two consecutive very difficult” pregnancies – one was born prematurely and is now 7 months old(pictures on my Facebook account). The other was a miscarriage (on the 2nd month) about a month ago. I barely had time to write since I have to take care both of my family and business. Anyway, all is well and I’m back again. I thank the Lord for His grace!
As a side note, I’m comfortable sharing my personal life in this site. I’m trying to share not just my business but my life as well. Life is not all business.
Anyway, here are some warnings for novice internet marketers:
1. Don’t get scammed! There are many scam artists out there. How do you know who? Pretty simple! If people promise you to get rich overnight then its absolutely a scam. Internet business takes a lot of work and time initially. It is a simple business but not an easy business. Many will try to tell you if you will buy their program then you will have a six-figure income in less than a week! Baloney! Absurd! Run away from them!
2. Never promote any product or service that you haven’t tried. Most novice internet marketers will start by joining a lot of affiliate programs since they don’t have their own products yet. This is fine and there are some who are successful doing this. However, doing it the wrong way will hurt you! If you have promoted a product/service and haven’t tested it and it turned out that its a bad one then you are in big trouble. I hope you haven’t promoted a scam artist. Yikes!
3. Maintain your integrity with your list. In connection with #2, don’t try to make money from your list by promoting products/services which you can’t vouch for. It is your duty as an internet marketer to give “good and credible” information to your list. You might make a lot of money – short term! But, it will hurt you long term since people will start to question your business ethics as you recommend bad products/services. If you have promoted a bad product, ask for an apology! People commit mistakes and people forgive who commit mistakes. It is more absurd if you will try to ignore your mistake and get away with it. No! Ask for apology and I’m sure people will forgive you. Are there people who won’t? Of course! But, only a few! Again, apologize and don’t do it again.
(Note: Many people have asks me to promote their product in this site. That’s not how it works. They should have let me review it first. Just make sure the product works or else you’ll get a bad review from this site)
4. Don’t lower your prices to get more customers! Think of value and not price. If your product will result to an additional revenue of $1,000 to your customers then you won’t be shy selling your product at $99! Even if its just a 7-page ebook! If your ebook will help them save $20,000 from their mortgages then you can charge them up to $1,999! Again, think of value and not price. My mentor’s rule of thumb is your product price will be 10% of what the customer will gain or save from buying your product.
5. Don’t give away your inventory! A big part of my inventory is my brain power – knowledge! People pay me to get valuable information. A big portion of my income came from coaching and consultation. One of the main reason from not being able to write for this site is I was busy working with coaching clients. They pay me to help them with their businesses. I give them priority because they are paying me than writing for this site which everybody reads for free.
Now, don’t get wrong. You have to give free information like what I’m doing in this site so people will know if you have the expertise in your field. However, if people need individualized help then let them pay you!
6. Don’t maintain one big site! Don’t spend all your money in one big site. Rather, setup a number of smaller sites. I rather receive $100 for each 7 sites than $700 for just one site. In this way, when one site is not making enough money I still have money flowing in from other sites.
(Note: Try to target a number of niche markets. In business, sales are unstable throughout the year. One niche market might not have sales in a given month but other niche markets have skyrocket sales! Try to vary your markets that you have consistent cash flow the whole year)
7.Consistency is better than speed. Most novice internet marketers are very quick to start but easily lose the fire. Internet marketing is sometimes overwhelming. Don’t try to setup 7 websites in a month. Though you can do that its better to setup one or two websites per month.
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Cheers and God bless you!