Passive income is real, but you have to give it time and be patient.
Passive income is a form of income that you can earn without having to work and work for it. Rather than continuously working in order to keep the income stream consistent, when you generate passive income, you do the work once and then earn money from that work without having to do anything else.
However, some people are a little dubious when it comes to passive income, and question whether it really exists. It’s easy not to have much trust in passive income when you don’t know of the ways it can be generated.
There are many so-called gurus who will claim that email marketing for your business is dead. But, the fact is that it’s not dead and it’s not over. Email is still the most effective online marketing method that ever existed. It still offers a 122% return on investment by average according to research conducted by the Direct Marketing Association.
As a marketer, you should use real data to determine what will work best for you with your type of business and your business niche. Don’t rely on gurus to tell you what works and doesn’t work without checking the stats and the data. Then use data to make wise marketing decisions for all your marketing, including email marketing.
Here are 10 reasons why email marketing for your business shouldn’t be ignored.
Quality clients will listen if you understand a few facts about your business, your clients, and yourself.
An essential component of running a successful long-term business is the ability to attract high-value customers. Your customers are the most important part of your business because without customers you don’t have a business. Your job is to create value for your customers, and the best way to be able to do that is to choose the right customers.
Developing your business to attract high value customers is going to make a huge difference to your business. For one thing, they generally have more funds to spend on your products and services than low end customers.
No matter how interesting running your own business is, and how enthusiastic you are about all the great opportunities it offers, there will be some days when you struggle to stay motivated in your own business. You just don’t want to sit at that desk another minute and answer yet another email, write another blog post or tweet another message.
If your “get up and go” has got up and gone, here are a few suggestions to help you get your mojo back.
What’s Stopping You Building A Brand For Your Business?
One misstep can take years to undo and can even ruin an entire business.
Building a brand is the process of creating a unique name, message and image in a consumer’s mind. The goal is to differentiate yourself from others in the market and to attract and retain customers. The importance of branding your business can’t be underestimated.
A business with ‘good branding’ will be able to experience customers and potential customers holding a very positive opinion of it. And this is important as people buy from brands they, know, like and trust.
A business with poor branding means that people will generally avoid it and don’t want to be associated with it. You can probably think of at least one organization which you would not want to be associated with. Obviously, you don’t want your prospects or customers think about your business and brand in this way.
Build Online Relationships With Facebook Live Video
On the Facebook live video platform, live videos receive 1,000% more comments than recorded videos.
Building stronger online relationships with your prospects and customers is always a good thing. People buy from people that they know, like and trust. And the online business world can be a little impersonal. It’s easy to hide behind a website and never have any direct contact with your customers.
But when you build a relationship with your online customers, you’ll discover that your sales conversions will increase. A simple, and free, tool like Facebook live video is a great way of allowing your audience to learn more about you, trust you quicker and stay more engaged.
8 Ways Your Competitors Affect Your Business For The Better
There are benefits of competition in business.
Some people think that competitors affect your business in a bad way. But the truth is, if you don’t have any competition you may not actually even have any customers. The thing to remember is that if there is competition, someone else has already proven the niche works to earn money.
Your competition helps you define yourself. When you know your competition and what they’re all about, you’ll know better what you identify with – especially to your audience.
By watching what others are doing (or in some case, not doing), you learn much about what to do next in your own business. But, best of all, you learn where the gaps are in your niche, or where others are failing your audience and you become the go to person for that topic.
Marketing Your Business In Online Discussion Groups And Forums
Being part of any group or forum is like being part of a club.
If you’ve spent any time in online discussion groups or forums, you’ll have seen a lot of people come in and do “drive-by” posts to market their business. Many have good intentions and some may have unethical intentions.
But either way, good intentions or not, this isn’t the way to market your business in online forum sites or social media groups.
Building a community using forums and groups is a very important way to create many raving fans and brand advocates. It works for helping your affiliates make more sales, it works for showing your expertise, and it works for building your email list. It’s an important marketing component to add to your marketing strategy.
You can never create your best course until you create your first course.
When you create an online course and sell it online, it can be a great way to earn revenue. You create the course once and you can sell it over and over again. If you have something to teach the world and you have a website on which you can showcase it, then developing online training modules is definitely something that’s worth doing.
When you create online courses it promotes yourself and your expertise, it can make you money, and can also help to build a base of loyal users.
But, just like any other online venture, there are some pitfalls to avoid when you create an online course.
Things To Consider When Building An eCommerce Website
When building an eCommerce website, there are some things that you need to ensure that you do correctly. If you want to make online sales, it’s imperative that you build a site that attracts your audience, loads quickly, and presents your products in a way that makes your audience feel as if they really need them.
Your website is essentially your storefront, business card and most significant marketing piece all rolled into one. How it affects your visitors and customers is essential to your success. Provide a memorable experience and customers are sure to return time and time again. Make mistakes like the ones listed below and your prospective customer may never come back.
Whether you own a small internet business, a blog or some other web-based business, you’ll know that your business can’t stand still. Amongst the day to day tasks of running a business you still need to think about ways to improve business efficiency so that your business can grow from strength to strength.
Minimizing the number of things you have to do each day, each week and each month as a business owner is also important. This means streamlining your activities and creating business systems and processes to help you generate leads, build your email list, create sales and improve your profit margins. There are 3 key efficient business practices that every entrepreneur can easily learn and implement.
Memberships are part of our everyday life even when we don’t realize it. It’s a business model most people are comfortable with. You can join memberships for sports clubs, chiropractor care, medical practices, gyms and more. Members pay a regular fee, normally every month, and as long as they feel that they are getting good value, they continue to pay.
A membership website means that the public is blocked from the content. It’s only available only members who pay a fee to access the membership area. It’s an effective business model for the website owner because it generates a healthy passive income stream.
However, to make money with membership websites you do have to continuously ‘wow’ your audience to keep them interested, plus devote a fair amount of time to marketing the membership. So, how does the membership site business model really work and why?
The Online Business Mistakes You Can’t Afford To Ignore
When it comes to running an online business, everyone starts off thinking they know how to do it. But, the truth is, there are several online business mistakes that are made by both new and experienced entrepreneurs.
Regardless of whether your business is online, offline or both, the basic rules of business still apply. You need to know who your audience is, what your product or service is and know how to explain to your audience why it will solve their problems and why you are the one to buy it from.
The primary focus for all online businesses should be to continually improve customer retention. Unfortunately, many online marketers overlook this important activity in an endless quest for more traffic and new customers.
But the importance of customer retention can’t be ignored. The truth is that an existing customer is more likely to be your best buyer. In fact, studies have shown that 80% of your sales will come from 20% of your customers. So how do you retain those happy 20% and make them feel valued? The answer is by speaking their language – that is, understanding their needs in relation to your niche or industry so that they feel understood, not just talked at or to.
If you have a product or service to sell, then it’s time to get serious about reducing buyer fear so that you can close the sale and boost your conversions. After all, closing the sale is the point because if you don’t do that, no one will experience your amazing product or service that solves their problems.
Reducing buyer fear is an important aspect of marketing online and even offline. People won’t buy if there is something that is worrying them about your product or service. People only buy from those they feel as if they know, like and trust. You included. You know you’re trustworthy so show it by proving it.
Factors To Consider When Starting An Online Business
Starting an online business is an exciting time for a new entrepreneur. You can sell products or services on your blog or website to customers from all over the world. You can either create the products yourself or sell ones that were created by others and earn commissions via affiliate marketing.
But you can’t just throw up a blog or website, sit back and think the orders will just start flooding in! When first starting out, the road can be filled with dangerous curves. Around every corner a new challenge crops up that was unexpected yet must be dealt with. Here are 5 important steps to starting an online business. Continue reading →
The online buying process is different to the offline buying process. As an online business owner you rarely, if at all, have any direct face-to-face contact with your customer. A prospect finds your products online and then decides whether to purchase or not.
It’s important to understand a typical buying process and sales cycle, so you can move your prospective customer from first encountering you or a particular product, all the way through to buying your product.
There are basically 5 steps to the typical online buying process.
Before you start spending time, effort and money on any type of marketing or advertising, you should be able to clearly identify your target market. These are the people that will have a genuine interest and need for your products and services. Any extra information that you have about them will help to make your advertising strategies more effective.
Regardless of how good your products or services might be, they won’t appeal to everyone. If you try to get your messages to wide, undefined audience, you’ll spend money that you don’t really need to spend, and you won’t even get much back from it either. Here are 4 of the things you should know when marketing to a specific audience. Without this information, you’ll struggle to really appeal to the audience that you’re trying to target and sell your items to.
Social media has become fundamental to so many aspects of life, including business. By now, every smart business owner should have a social media marketing strategy. The real secret to success is in being able to monetize your social media following.
After all, you’re in business to make money, not just publish content for free all the time. Here are 10 suggestions as to how to turn your posts into paydays.
When you’re running a business, whether large or small, one of the things that can be make or break to your success is getting your branding and voice right.
If you’re competing in a market that’s very competitive, it’s important that you know how to make your brand stand out and what you can do in order to get the most from your advertising, customers and business in general.
Here are 8 tips for helping your brand stand out in the busy crowd.
As an online business owner, growth and expansion are necessary for your business to survive. If that growth and expansion doesn’t happen then the business will probably fade away. A business can’t begin, grow to a certain point and then simply remain at that point and continue to thrive.
A small internet based company doesn’t have to grow and expand until it becomes a giant multi-national company in order to survive. But as an owner or manager of an internet business you do have to grow your audience so you can build your brand, grow an email marketing list, and make more sales. There are several ways to accomplish this. Let’s look at some of the main ones.
How To Attract Local Customers To Your Online Store
Even if you have an online store, don’t underestimate the results you can get when you attract local customers to buy from you too. Since your business home is local, many people who want to shop online will shop with your store because they feel as if they’re still shopping locally with small businesses. And they are, even though they don’t have to leave their house.
Never underestimate the power of focusing your marketing locally. Your area may have 25,000 or more people who will be excited to order from you as a local business.
As you build your online business, one of the ways to stop an inconsistent income flow from getting in the way of your success is to start a continuity plan. A great way to get monthly continuity income is to build a membership website. A membership website means that the public is blocked from the content available only to members who pay a fee to access the membership area.
When you build a membership site, you’ll need some sort of software to not only create the member’s area of your site, but to manage subscriptions, send emails (if not using a third-party autoresponder), collect payments and deliver purchased content.
How can you automate elements of your online business?
Many entrepreneurs have different opinions whether you should automate your online business. On the one hand it works great, but on the other, it can get in the way of engagement.
However, if you want to build your passive income stream you’re going to need to implement automation. If you do it right, all you have to do is get people on your list, assuming they were well targeted, and then you can start earning.
First, let’s define passive revenue. This is income that you earn today (and tomorrow) through the efforts you put in yesterday and today. No one denies that earning passive income is work up front and not at all passive. But, if you build your systems correctly, you’ll be able to take breaks and do less work while your income continues to rise on autopilot.