I-Marketer Blog and Newsletter

I don’t like the title of this article.  It sounds boring.  It doesn’t do the topic justice.  Here’s why:

You are about to discover the most powerful single concept in making your business profitable.  This one key—if applied—will produce more and higher profits for you than any other single piece of information.

Let’s dig in.

Having a profitable business online or off is really about getting prospects, showing them your products in enticing ways, filling their orders and providing customer service.

Before the internet this was all done via mail and telephone.  Now it is done, often automatically, using simple, cheap online tools.

Most online businesses have some sort of list management service or program they use to manage the email addresses and names of prospects and customers.  These are called a variety of names.  Often these services are referred to as “autoresponders” since they typically can send out a series of pre-written messages when someone signs up.  But they are much more than a simple autoresponder.

Today’s services and programs can accomplish all sorts of tasks:

·        Send a “broadcast” message at a pre-determined time and date

·        Allow multiple lists to be managed through one account

·        Send a message to all those who haven’t purchased a particular product

·        Send a message to all those who HAVE purchased a particular product

·        Automatically generate personalized thank you and download messages

And the best thing about these services is they cost almost nothing.

Here is how to set up your own list management to maximize profits and make customer service a snap.

First, sign up for a complete list management service.

You may be tempted to buy a program and do this yourself because it’s cheaper.  Don’t.  The fast and ever changing world of bulk email means you will either have to spend way too much time trying to make sure your email gets through or a significant portion of your emails won’t get through.

Keeping up with email deliverability is a full-time job.  Let an expert handle it.

While there are several services you can sign up for, here is the one I recommend:

http://www.All-In-One-Business.com/list

It’s cheap, and it’s the best in the business.

Now once you get signed up, decide what lists you want to have.  You can have a list that people subscribe to when they first visit your site to tell them about your product(s), you can have a list that serves as your newsletter, you can have a list for people who purchase your products.

Here is what I would recommend:

1 List for Your Newsletter

1 List for Each Product’s Pre-Sell Messages

1 List for Each Product’s Customers

So if you have just one product, you would have three lists.

Go ahead and set up each of the lists.  You want to include some automation as well (this can be done on the list server I recommend above.)  You want to:

·        Add the Subscriber to Your Newsletter when they Subscribe to the Pre-Sell Messages

·        Remove the Subscribe from Your Pre-Sell Messages when they are Added to the Customer List

Now, let’s add a little “flair” that will help you with customer service and follow-up.

Most people simply save a person’s name and email address in their list manager.  We want to do more than that.  We want to save as much info as possible.

Think about it this way:  When a person buys a product from you they are giving you a ton of information about themselves—name, physical address, phone number as well as a unique product code.  The more of that information you save, the better you can market to that person in the future.

So, make a list of all the data you want to (eventually) collect from your prospects and customers.  A sample list might be:

First Name

Last Name

Address

City

State or Province

Country

Postal Code

Phone

Fax

Order ID

Etc.

Once you have this list, go back to your lists and add these fields as “custom fields.”  When someone buys your products, you automatically add the data from their order form into your customer data fields.  (If you don’t know how to create a form to do this, ask your webmaster.)

Now let’s look at this in action…

Let’s say someone buys your product but doesn’t get the download.  They send you an email.  You simply go to your list management panel and type in their email address.  In a few moments you not only have a list of every one of the products they have purchased from you, you also have all of their contact information in case you need to call or send them something via postal mail.

Or let’s look at it another way.  Someone writes asking for a refund.  In our case we need to find an order ID to process a refund.  Using this same method we can just type in the email address or name and instantly have a list of all the unique order numbers associated with that customer.

Having all this information at your finger tips makes customer service a breeze.

But what about your marketing?

Setting up your lists as I recommend allows you to pin-point target your marketing.

Let’s say you want to promote one of your products to only those who have not already purchased it—you simply send the promo to your newsletter list and exclude the customer list for that product.

Or let’s say you want to offer a special discount only to people who have already purchased a particular product.  You can send the offer to that customer list only, not your entire list.

Let’s say you want to send a holiday card to each of your customers.  Simply download their postal addresses and use Excel to create mailing labels.  Ditto for a special offer via a post card or direct mail campaign.

Not only does organizing your data in this fashion save you time, it will make you money.

How much does it cost to start an Internet business?

I get this question, or variations on the same theme, every week. Today I wanted to give you just a quick run-down of what it costs to start a SUCCESSFUL online business, while giving you a HEADS UP about the BIGGEST but often HIDDEN cost.

Now, before we go any further, I need to define what I mean when I say a “successful online business”. A successful online business is one that makes a profit for the LONG HAUL, not just a few bucks this week. There is a huge difference between the two. You will not make any real long-term income by putting up the latest self-replicating site, or hawking the newest “business opportunity”. The kind of business I am talking about is one which will support your lifestyle for years to come.

 In order to start an online business, you first need access to a computer and the Internet. That doesn’t mean that you need to own a computer, just that you have access to one. That may cost you nothing–especially if you already have a computer and are already paying for access.

A word to the wise: You DO NOT need to have the latest, Pentium 8, running at 6 gigs, in order to start a business. In fact, many people who go this route spend so much on their computer equipment that their businesses grow slowly for lack of capitol.

Next, you need to have a web page. That means a couple of different costs:

You need to have a way to create web pages. By using web templates and Notepad for an editor, this may cost you nothing. But if that is beyond your ability, then you can download a free WYSIWYG editor or you can purchase one to use.

If you choose to hire someone to build your site for you, the rates vary considerably. Shop around for the best price and always check their references to make sure they can deliver you a quality, functional site in a timely fashion.

You need to have a web host. I know that there are still a number of free hosts out there, but sites that are going to be profitable are rarely able to be sustained on a free server. Plan to spend between $10 and $75 for your hosting, depending on the type of site, features and traffic.

http://www.All-In-One-Business.com/hosting

You need to have autoresponders. This is the one thing most beginning sites overlook. This is your first line of customer follow-up and one of the best ways to close sales for those who don’t buy on the first visit.

Autoresponders are available either through your host or separately. I choose to use a service that provides me with more features than I would get through a hosting company alone. If you do not get autoresponders through your hosting company, plan to pay from $10 to $30 per month for this service.

http://www.All-In-One-Business.com/list

You need to have advertising.

Before I go any further, I want to dispel a myth. Ready? Here it is: A slick looking site with all the bells and whistles does NOT sell products.

Did you catch that?

People tell me all the time that they have a great site. Usually, they are right. The only problem with putting all that effort (and often money) into a site is that they often have NO MONEY LEFT to get traffic to their site. A MEDIOCRE SITE WITH LOTS OF TRAFFIC WILL ALWAYS OUTSELL THE PERFECT ONE WITH NO TRAFFIC.

So, how much do you have to pay for advertising your product or service? Here is a rule of thumb: For every product you sell, plan on putting 45-50% of the gross profit into advertising.

So, if you want to sell 100 units this month, and your gross profit per unit is $30, plan to put around $1500 into ads THIS MONTH.

Can you do free advertising? Yes, and you might want to start that way if you are strapped for cash. Just know that your business will grow more slowly. In the long run make sure to set aside 50% of your gross profits for NEXT MONTH’S advertising. You will be glad you made the choice.

Now, that about covers it. There are certainly more things you can spend money on, but most of them won’t make you very much and can cost you plenty.

But, there is one cost that I haven’t yet covered. Here it is:

To start your own business will cost you more emotional strength than almost anything else you will ever attempt. Most people will never have the emotional strength to make it through those first hard weeks and months. Most people will give up just on the verge of success.
Only the strongest of us will make it, and that’s the real cost to weigh.

Starting a business is hard work.