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May4
Internet Marketing Tips – The Cost of Marketing
No CommentsEverybody talks about the cost of marketing or doing business. But do you REALLY get it? It’s not only about dollars and cents. Sure, that’s a big part of it, but to the savvy Internet marketer, it goes way beyond just nickels and dimes. This article is going to take a brief look at this issue. I have no doubt that it will open up your eyes to many possibilities you may have not considered.
It’s easy to look at things in black and white. For example, a pay per click keyword says it’s going to cost you 10 cents every time somebody clicks on your ad for that keyword. Okay, great. So you get out your little calculator and figure out how much it’s going to cost you for 100 clicks, then figure out your conversion percentage on the product you’re selling and finally come up with a dollar amount for advertising, gross sales and net profit. From all this, you decide if it’s worth promoting the product or not via this method.
Believe it or not, it’s not all the cut and dried. For example, let’s for argument sake say that your cost for 100 clicks is $30 and your product only brings you in $27 on the front end and it converts at 1%. You would say that you’re losing $3 on every sale…but…what if the sale came with a new subscriber to your list? And what if for every 100 sales you sold two coaching courses at $997? Suddenly, it makes a lot of sense to pay that $3 loss up front to get the money on the back end.
Okay, that’s one kind of cost and how it can be misleading if you only look at part of the picture. But there’s another kind of cost…the cost of YOUR time. A lot of people who don’t have a lot of money say things like, “Well, my time doesn’t cost me anything so I’m going to use free methods to generate traffic where I have to do a lot of manual labor.” Well, fine. If you’re time really does mean nothing to you, far be it for me to try to change your way of thinking. But my time DOES mean something to me. I’d rather be spending it with my family or in the recording studio than slaving over manual work all day. This has come from many stupid years of doing just that. I missed out on a lot of parties.
Point is, there is a cost to everything you do, whether it be directly out of pocket or in the hours you spend writing articles or whatever. So the next time you sit down to figure out the cost of your marketing, remember, it’s not always just about dollars and cents.
To YOUR Success,
Steven Wagenheim
Want to make money TODAY without spending a DIME? Check out my site at http://www.hottrendsdaily.com/ and find out how.
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