The three biggest mistakes in your internet marketing business plan
Are you making one of these mistakes in your internet marketing business plan?
Let me explain with three examples.
Network marketers (the Sales reps/team leaders)
Even if they operate their business on the internet, network marketers tend to act like sales reps, dedicated and loyal to one company and one product line and building a team who do what they do.
A network marketing business is designed to be duplicable, coherent and consistent, but as marketers these sales reps are rarely unique – one of thousands or millions of distributors with the same offer, all competing for the same customers.
Some of the very top producers have built a brand around their team and developed systems, earning affiilate commissions by renting these out to their downline. Essentially, they add value by creating a top internet marketing business plan around their network marketing company and their own support services.
Affiliate marketers (the Sales reps)
On the other hand, affiliates are rarely aligned with one company or marketing a single product line. Their internet marketing business plan involves signing up for a whole host of affiliate programs they can grab links for, shove up flashing banners all over their website. They bombard their lists with an assortment of offers hoping something will stick and some people will buy.
In both cases, these marketers don’t have any strategy behind what products and services they mix and match or how to bring them into closer alignment. Usually, they offer low ticket items and have to attract thousands of visitors to make hundreds of sales to earn an average income.
There are a few affiliate marketing gurus who have really taken this to the next level through two tier affilite programs or by developing their own product. They add value to the concept and attact other affiiliate marketers to sell for them, thus expanding their team of sales reps.
Franchise marketers (the Managers)
Franchise businesses inherently have the same mistakes built into their internet marketing business plan as network marketing and affiliate marketing. They have a fixed brand and product line that you market and sell. You’re simply the manager.
The most successful franchise marketers have learned how to take their duplicatable business model and add value to their customers. They get the repeat visitors by making it a high quality and pleasant experience.
Now for traditional, physical franchises (like restaurants or cleaning agencies) that is simply about customer service, because the company dictates the design and delivery of the product. But online, it’s a completely different story.
So here’s the best internet marketing business plan you can develop:
#1. Decide what your business is all about – what’s your passion as its founder/CEO, what do you value and believe in, what’s your mission and how will people benefit as a result of doing business with you (as a customer or a team associate).
#2. Build a brand around #1 and only market products and services that fit with your mission and your brand. Set up your internet site as a hub for your primary business but provide both low ticket and high ticket offers.
#3. Set out a “value ladder” of offers. For example, you may start off with a free ebook, or time limited trial, as a taster of a book, training guide or tool. From there, the next rung of your ladder might be a video or audio version, next rungs could be a home study course, a live seminar or event, one-on-one coaching, done-for-you services, inner circle.
People will pay more money for the same content packaging in different ways – see Russell Brunson’s Local Marketing Myths. In fact, you can often create a generic business guide and “re-niche” the front end for different target markets for maximum results.
(That fact alone is gold for developing top internet franchise businesses.)
A successful internet marketing business plan creates the perfect storm.
Having a free, trial or low ticket offer on the front end can make buying from you or getting started with you a feasible option.
If your visitors/customers experience some of the value you give – so you do need a decent quality front end product or service – they will become repeat buyers and move up your value ladder to your top tier back end product where some really big commissions are possible.
A buyer is a buyer is a buyer, as they say. Keep your buyer lists separate and market around the next rung on the ladder for them.
Having all three key elements in place in your sales & marketing funnel – your internet shop – is the reason are why this strategy is so powerful.
The combination of top tier product line and low cost offers within a clear and coherent business or personal brand provides the ‘slippery slide’ that marketing legend Joe Sugarman talks about.
This is a top internet marketing business plan since this strategy borrows the best from of these different business and marketing models and overcomes the mistakes that most marketers make on the internet.
This is my own business strategy and why our team is beating the competition hands down in the network marketing and internet business industry. Review how you can join my Success Coaching group.
Free 60 minute video training: Instant access
Peek behind the curtain of how to bring together mindset, meaning and money to build a legitimate, profitable internet marketing business plan for yourself with our training, coaching & support.
More articles on this topic ...
Tagged with: internet marketing business plan • internet marketing business strategies • internet network marketing • legitimate internet business • legitimate internet marketing business • network marketing business plan • network marketing internet business • online marketing business plan • online marketing strategies • profitable internet business plan • profitable internet marketing business plan
Like this post? Subscribe to my RSS feed and get loads more!