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The 3 Key Principles To Make Money Online…
By Terrance Charles |
If you want to make money online and have a successful business, there are 3 key principles that you must follow in order to succeed, regardless of what type of business you have. These are some of the most underlooked principles to making money online, but if you don’t master them, you won’t make any real money at all…
What are the 3 principles to make money online?…
It’s a 3 step formula, it may sound basic to you, but it’s the most important formula you will come across on how to make money online. The problem is, there is a lot of marketers that are using these principles backwards and that is the reason they are not making the kind of money they want to. This formula is responsible for the most successful businesses in the world, what is it?
#1 – Hungry Crowd (HC) – This is the MOST important peice of the formula, without this you don’t have a successful product. The problem is, it’s being taught the other way. You learn to find a product or service and find a way to market it, but if no one has any real interest in it, you end up wasting your time and money.
Finding a hungry crowd is the key to your success. If you know that there is 1 million people searching for a particular product or service, don’t you think you can create a profitable business? Ofcourse. Most of the time, you learn to find a niche, and although that’s a great approach, it’s not the real money maker.
Just because they are less people in a particular niche doesn’t mean that it will be a successful business. Actually that can be a sure way for failure in that niche because that proves that not too many people are interested in it. The market is never over saturated as you hear all the time, that’s giving you a heads up that what you have to offer is very popular and there is a hungry crowd for it, you just have to find a way to market it to them better than your competition.
#2 – Find/Create Product – The second most important peice of the formula. Once you find a hungry crowd, then you either do 2 things, find or create a product that your target market is looking for. If you do this, then you’ll notice it’s almost like it’s selling itself because you have met demand and supply. It’s not supply and demand like we were taught, it’s always demand first then supply.
If you can create a REAL value product or service, you won’t have a problem finding customers and getting return customers. Create your product or service with your target market in mind, something that is made to solve a problem that they are having as quickly and easily as possible. That’s a failproof way to success, find a problem, then create a solution better than the competition.
You don’t have to create it yourself, you can outsource and have someone else create it for you, which is the way most successful marketers choose because it saves more time and money. Although outsourcing is beneficial, I personally prefer to do it myself because it’s much more personal.
#3 - Testing/Marketing – The third most important peice of the formula. Once you identify your hungry crowd, create a product/service, then it’s all about marketing and testing to see how much of a impact you have on your target market and to track your growth. Without testing there is no way to know what is bringing results and what isn’t, and that’s a big problem many marketers face.
Because there is competition with other related products or services, you want to make sure you seperate your product from the others. There’s a ton of ways to do this, but the most important ways to do this is to either sell it cheaper than the competition, or make it better than the competition, anything that the competition isn’t doing such as, longer money back guarantees, faster shipping, extra bonuses, more testimonials, free trials etc.
The best way to get your product out to your target market is to create buzz, curiosity, interest, desire, shock, or humor. Utilize the power of viral marketing, one of the most effective methods there is. You can do this through videos, tell a friend scripts, blogging, free reports etc. With the latest web 2.0 trends, video has been proven to be one of the best ways to get your message out there, it’s a simple way to drive thousands to millions of visitors to your website.
Following these 3 key principles to making money online will create real growth in your business resulting in more long term sales, signups and subscribers. There is ONLY 1 formula that successful marketers use, and that’s to find a hungry crowd, find or create a product for that crowd, then market the product or service better than the competition.
YOU Are a Succes,
Terrance Charles
TerranceCharles.com
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Topics: Affiliate Internet Marketing, Blog Marketing / Web 2.0, Internet Marketing Tips, Make Money Tips, Web Traffic Generation | 1 Comment »
1:14 am on November 15th, 2007
Hey Terrance, that was a very informative post. I like the way you layed out the 3 steps and that’s a formula that i feel is important to making money.
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