Does the "M" Stage Make You Feel Uncomfortable? May 30, 2011 | Posted in Monetization | Leave a Comment

Monetization

The art of business is for the marketer and the customer to gladly make a profit off each other. Your customer happily parts with time or money in return for whatever you are offering.

Selling something does not put you in the "used car salesman" slot unless you do it badly, meaning that your customer does not make a profit off of what you offer.

Many online business owners don't want to be seen as "money-grabbing." Push past that growth-limiting attitude and evolve. You must decide to make money or have a hobby site.

Pointers for Sourcing Product April 22, 2011 | Posted in Monetization | Leave a Comment

Monetization

Do you want to sell hard goods online? Are you considering an online store as one of your income streams? Either you make the products yourself to sell or you find third party "makers" and sell their goods. The hunt for the latter is known as "sourcing product."

Start your search close by. You may know people who create their own products (artist, designer, pewter maker, sculptor, welder, wood carver, writer, etc.). Do their products fit with your site's theme? Yes? Contact them, and set up a sales agreement. You market and distribute their products, and they pay you an acceptable percentage. This way, no out-of-pocket expenses are required to stock inventory on your part.

When you are sourcing product, all it takes is a little creative "outside the box" thinking to locate an opportunity that "fits" with your e-business. Instead of being a "creator of product" become an "aggregator of products."

Lots of Traffic? Sell Ad Space! April 18, 2011 | Posted in Monetization | Leave a Comment

Monetization

Are you planning to sell advertising space on your well-established website? Advertising rates vary widely among niches. A site about finance or investing can demand a higher ad fee than a site about novelty gifts.

If there's no "set standard," how do you calculate the value of an ad on your site? Here are some suggestions...

1) Over and above your niche consideration, take into account factors such as...

• PageRank of page (when linking out)

• Your site's Alexa traffic rank

• Traffic numbers for the page where the link will be located

• Keyword value (both the keywords the advertiser wants to use in the ad and keyword value of the page where the ad will be located)

• Age of your site (a well established site vs. a new and not as virally connected site).

2) Use the Google Adwords Keyword Tool to find out what advertisers are paying for each of your important keywords.

3) Do a search for advertising rate sheets available from other sites. You will get a good idea of what your competition is charging for ads.

Once you finalize your rate structure, move on to the next step...

Why Are Testimonials Like Potato Chips? March 19, 2011 | Posted in Digital & Hard Goods, Monetization | Leave a Comment

Digital & Hard Goods

What’s the biggest single factor your visitor will look for if she decides your product is just what she wants?

Your credibility.

Overcome any fears and doubts convincingly by telling her what your present customers have experienced.

Testimonials are incredibly persuasive. If you can get your visitor to read a testimonial, you have jumped quite a bit ahead in your sales effort. And testimonials are like potato chips... once you eat one, you want another and another and another.

The keys to an effective testimonial are...