Internet Marketing
Is it Profitable?
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Every year since Internet marketing began the amount of money being spent has increased. The number of new Internet users has continued to multiply and it doesn't look like this trend will change anytime soon. I can't honestly say how profitable because there is a lot of competition for that additional money. If you can find a few good niches (with money and are willing to send it) and YOU DELIVER what those targeted markets want you will make a profit. |
I read somewhere, that by 2008, the amount of money spent on the Internet will be around $38,000,000; the time to get started is now. The only way to get apiece of the pie is to get in and get your feet wet.
Internet marketing is still a viable market by most indications. People are still signing up on the internet by the thousands. By most indications more money is being spent on internet marketing each year. Internet marketing is kind of a funny proposition; it is a market by itself, but you also have to market any product whether it is Internet marketing related or not. This site was created for educating and saving subscribers money and time related to their individual marketing needs. Any product sold on the Internet requires internet marketing; this site for instance has to compete within the Intenet marketing market group. It is highly competitive and difficult to break into and make a profit because of the competition.
In recent months, I have noticed, that many in the internet marketing markets have begun to branch out into many other areas. Niche marketing was really promoted at the end of last year. Now, I am seeing a lot of joint venture brokering offers with higher product costs and commissions. Firesales by guru's, that are indicating they are moving to things other than ebook sales. Audio/Video seems to be catching on and being promoted a lot these days. Some of the big name guru's have started selling coaching at some pretty high prices. PLR, or private label rights are big right now. Many have started working at social networking and are learning the ins and outs of Web 2.0.
What is going on here, is this area collapsing on itself? I do know there are a lot of new comers in the internet marketing market; and some of those are making pretty big bucks. It appears that the Internet marketing arena is being sliced into smaller and smaller areas that are much more specific niches. Tutorials are being produced for new products using audio and video showing how to use the new products being developed. Change is constant and it appears necessary to increase market share. The online marketing seems to follow a similar pattern to the offline market; everyone is looking for more convenience and quicker, easier ways of accomplishing tasks and hoping to attain more profit.
It seems to be possible to sell high dollar items; if you are well branded, and highly visible on the Internet. I have noticed that the prices of many ebooks sold by GURU's are higher today than in the last few years. I don't see much difference in what the product teaches, many just create package deals pertaining to the same old data. Today, the increase in cost depends on whether the product has just re-sale rights, or master re-sale rights and in the formats available (printed material, digital material, CD's, Video tutorials) are seen as perceived value and can increase the price. Many are using price structures depending on the format you want to receive. Just recently, there have been dime sales and $7 sales. I think this happened to fill an empty spot in the Internet marketing area.
The big boys moved on to more expensive products purcahsed by the successful marketers. They are looking for ways to automate their systems and have the money to accomplish it. This left an area for the smaller people to get in with lower priced products, it just requires more sales to become profitable. Most of these lower priced products are filling the start up marketers needs at a price they can afford. Most offer more new products on a weekly basis and if they sell 4 - $7 products a month that amounts to $28 a month less expences. The trick is repeat sales and a large group of successful affiliates that have large lists.
I'm not sure whether better sales copy is responsible by creating perceived value. Maybe, some of the earlier ebooks stating you could make money quicker selling at higher price than selling cheap is a factor. The fact that people sign up to the internet everyday probably enters into the numbers as well. Supply and demand is the first thing you learn about in marketing courses. I'm sure it enters into Internet marketing as well, many marketers are limiting the amount of product being sold creating demand, allowing them to receive higher prices. It must be working, I see a lot of coaching offers up in the thousands of dollars. They usually limit the number of participants to 40 or 50 and set a specific time limit for the coaching.
One thing is certain, it doesn't make any difference what part of the market you are in; you still have to market a product if you expect to make sales. Learning what works is a continual process as customers grow weary of a particular marketing ploys. This is what keeps people coming back to internet marketing market; they need to find new methods, and it seems someone always finds them. Another thing, the older well branded and highly visible guru's are moving to more profitable areas; it should offer the less well known marketers an opportunity to get into the market and turn a profit.
Don't be afraid to be different, that is what will make you more recognizable in the market. A trick the better affiliate marketers are using to increase sales is not using the promotional tools offered with a particular product; you probably won't get the responce you are looking for. Rewrite the promotions add your own thoughts; if you have tried and liked the product, say so. You have probably heard this many times before but from our experience, it is true.
Credibility in the market is probably the biggest selling point of all; you need to be recognized if you want to be successful. Getting this recognition usually takes some time and work but it is worth every second spent. Don't think that you can make a fortune overnight, or you will be in for a rude awakening. It still comes down to giving people more of than they expect. This is probably the largest determining factor in whether you will make a profit and be successful.
As long as there are products to be marketed; Internet marketing will stay as one of the leading markets, for those that can figure out new twists on old marketing techniques. Look at what has worked well in offline marketing modify and adapt it to online marketing and you will look like an expert. Timing enters into the profitability figures; certain things have to fall in place sometimes before you become successful.
Good and new tactics will usually work for a while but manyy are just fads; and run their course in a short time. There are several tried and true methods used by some very successful marketers that always seem to work well, at least for them. Most succeful campaigns have been designed and created over a period of time and usually have done enough pre-selling to create a large market audience. Many times, they create step by step lists for accomplishing some specific task and create a give away campaign for the information.
Who can refuse free information, especially from a GURU?
You are or will be given enough time to try the process and determine all the work required to successfully complete the process. Then you will receive more information describing this painful process in more detail and a few more tips will be given on improving the process. These usually come in weekly increments with the audience just waiting for the new tip to reach them. This is the captive or targeted audience they were looking for to begin with and now the sales page comes out. They have a product that will accomplish all the time consuming processes using automation. You know the process worked but no one wanted to spend the time to accomplish the task. Now, here is a way to do this without any work.
Isn't that what were all looking for?
Don't get me wrong, the product is a time saver and does accomplish the task at hand and is probably worth the price being asked. The thing to remember is that this was a well planned marketing product that led the buyers by the hand through a long and usually hard way of getting some valuable information. In fact, the marketer probably had been using the step by step process to create products to make money for some time. Probably, realized that more money could be made if the process were automated and then paid to have it done.
Why continue to do a tedious job if it can be automated at a reasonable cost?
This would allow time for improving the marketing process even more and probably making contact with other marketers (affiliates) that could benefit from such a product by selling it to their subscribers. Most times the affiliates are GURU's in their own right and are being offered a new time saving product for coming on board and promoting a product they know to be valuable.
Isn't everyone looking for good and valuable products to promote?
This didn't just happen, it was a well though out and planned process. Realizing what was useful and not available was a very good attribute. Usually, neccesity is a good predecessor to developing a good and useful product. Time requirements are usually the driving force to bring new products into being. A good product will usually sell itself; if presented to the proper audience. Especially, if the benefits and features have already been provided and believed.
Is Internet marketing profitable?
For those that can adapt, change and implement a good marketing plan it can and probably will be. Statistics recently published indicates that in the near future there is going to be greater amounts of money available for Internet marketing. Some will be at the right place at the right time and find the best profit margins and gain there wealth and dreams.
