The First Thing You Need to Know About Internet Marketing OR What IS Internet Marketing?

by Houston Vetter - DocResults on June 2,

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By Pat O’Bryan

Last night I realized that I was in a privileged position. No, I’m not talking about the cars, guitars or money. I’m talking about my coaching students.

Some of my coaching students are probably more knowledgeable than I am. They’re definitely into different aspects of internet marketing than I am, and know more about those than I do. That’s one of the ways I’m privileged. On our weekly coaching webinars I learn as much as they do.

But the ones I want to focus on today are the absolute beginners. Last night, there were several on the webinar, and a few of them asked amazing questions. Those questions were gold. And, they were timely reminders that when you first start on your Internet Marketing journey, things look kinda weird.

We were talking about affiliate marketing, which is something I’ve only recently started playing at. Of course, through the years I’ve promoted products for friends and coaching students. For the last month, I’ve been buying affiliate marketing classes and products and have been testing different niches and sales page styles. I’ve learned some surprising things about my list, and just about doubled my income.

We were talking about EPC (Earning Per Click), CPC (Cost per Click), and different methods of driving traffic when the questions started coming in- and I realized that the new students had no frickin’ clue what we were talking about.

So, let’s explore what you need to know before you get to the basics.

What, exactly, is Internet Marketing?

Well, it’s a little bit like the music business, in that you can be in it for years before you realize that it’s a business. (Flash back: A bar musician wins the lottery. It’s millions. A reporter asks, “what are you going to do with the money?” The musician replies, “probably just play gigs till it’s gone.”)

One of the hardest things to get across to my new students is that if you aren’t making money, your Internet Marketing “business” is a hobby. Yes, I want to help others. I want to save the world. I know you do, too. But, if you’re not making a living from your Internet Marketing business, then you’re back at your day job, or in my case, playing bars. You can’t help anybody until you’ve helped yourself.

(Flash back 2: In my twenties, I read E.F. Schumacher’s books, “Small is Beautiful,” and “Good Work.” Schumacher wrote about “Economics as if People Mattered.” I still practice that. But, if you’re not part of the solution, you’re part of the problem (bonus quote), and if you’re not making enough money to take care of your own needs, you’re part of the problem.)

As a coach, I get to watch my students learn and grow. And there is a definite epiphany moment when a student gets this. There is a psychological hurdle to get over- to most people there’s something a little bit nasty (and not in a good way) about selling. However, like other things that appear a little bit nasty at first, selling is a fact of life. In a Capitalistic society, like the one we live in, nobody gets paid until somebody sells something. And, (this may sound familiar) after you’ve done it a few times, you realize that it feels good, and you start enjoying it. Welcome to the adult Internet Marketing world.

So, let’s just stipulate here that a primary function of your new Internet Marketing business is to make money. Enough money so that you’ve got the freedom to love, think, feel, travel, study, play… and that exact number is going to vary depending on you. Oddly, scientific research shows that once you surpass about $36,000 a year, adding income won’t make you happier. I disagree. The more you make, the more you can help others. There’s happiness in that. But, for most beginning Internet Marketers, three grand a month is a LOT of money. Make that your first target.

Here’s a basic truth. If you’re an Internet Marketer, it’s ok to market. It’s part of our name, for gosh sakes. Keep your eye on that- at some point, you’re going to have to ask somebody to spend some money.

If you’re doing it right, when they do spend money, you’ll get some of it.

Let’s look at how to do that.

To keep things simple so that I can deal with them, let’s divide Internet Marketing into two camps: 1) relationship marketing and 2) metrics marketing.

What I do is Relationship Marketing. The Portable Empire System (I’ve written a few books on that. If you haven’t read them, start with Money From Anywhere. It’s Free.) is based on serving others.

1.    Find a group of people with a common problem. Confirm that they’ll pay for a solution to that problem.
2.    Solve the problem.
3.    Sell them the solution.
4.    Keep the dialog going. Solving problems, if you’re clever, leads to the next problem which also calls for a solution. Solve that one and sell the solution.
5.    Rinse and repeat.

You’ve heard it said that “the money’s in the list.” This is bullshit. The Los Angeles phone book is a list, and unless you need a phone number and have never heard of Google, it’s worthless.

The money is in the RELATIONSHIP with the human beings on your targeted list.

One of my coaching students made six figures a year with a list of about 600. You don’t necessarily need a big list. (Go read Connie Regan “RayGun” Green’s book, “Huge Profits with a Tiny List” for details.)

To build this list of human beings who are going to be on your list, I recommend that you give something away for free in exchange for their email address. This is called a squeeze page (unless you’re in my coaching program, in which case this is called “class project #1.”) You can see an example at http://moneyfromanywhere.com and here is another one http://yourincomeanswers.com

Here’s how it works. Some friends and I wrote the book, Money From Anywhere. It’s a very valuable introduction to Internet Marketing. When you get your copy, you’ll be asked to exchange your email address for it. When you do that, you’re telling me some very valuable stuff.

1.    You’re interested in making money online.
2.    You’re willing to a give up your email address in exchange for this valuable information.
3.    You might possibly be interested enough to buy more information.

Congratulations, you’re a human being on my list.  Let’s get to know each other.

At this point, the marketer’s job is to build a relationship. I want to know what you think. I want to know what you need. I want to know what questions are keeping you up at night. I want to help you.

People who email me at pat@patobryan.com are often surprised when I email them back. I LOVE emails from you. I especially love emails with questions. Those are solid gold. Of course I write back. I don’t understand why some marketers don’t.
I recommend that you cherish every email you get from your subscribers. Find out what their problems are- and then sell them the solutions. You’ll make them happy. They’ll make you rich.

As a marketer, your list is your most valuable asset. Especially if you’ve taken the time to get to know the people on that list. And most importantly, especially if those people have gotten to know you.

As an Internet Marketer, it’s accepted that you’ll occasionally do some marketing. Your list is who you market to. And, as long as you bring your list opportunities that help them- solve their problems- your list will be your business. They’ll buy things from you. And whether it’s your product, or a cool product that you’re an affiliate for, if you’re doing this right you’ll get some of the money. (if it’s your product, you’ll probably get ALL the money, minus paypal, clickbank, and merchant account fees. If you’re an affiliate, you’ll probably get 50% to 75% of the money.)

It’s a win/win. I sometimes spend ten hours a day and hundreds of my dollars buying, consuming and using other people’s products. Some of them are dog-poo. You’ll never hear about those from me. Some are brilliant. Those are the ones you send to your list. You save your readers a lot of time, money and effort, and the price is the same whether they buy from your affiliate link or not. And everything you offer your list should (this is not optional) have a money-back guarantee so that in case you’re wrong, and it’s not perfect for them, they can get their money back.

The game is fun only as long as nobody gets hurt.

You’ll hear Internet Marketers talk about traffic. Traffic means people who go to a website. You need traffic. You can’t make sales without it. If you’re a relationship marketer, your list is your traffic- and it’s the best traffic you can get, because they already know, like and trust you. Your job is to earn and keep that trust.

Metrics Marketing

Another way to do it is what I call “metrics marketing.”

It’s pretty much the same, except without the list.

Metrics marketers, in my opinion, have the harder job. They’re selling to strangers. They don’t rely on their list, because, in many cases, they don’t have one.

However, don’t discount metrics marketing. Huge fortunes have been made playing this game.

To play it well, you have to solve the traffic problem. Metrics marketers use SEO (Search Engine Optimization), PPC (Pay Per Click), Banner ads, the ad network (which places ads on other people’s sites,” and Google AdWords (the big daddy of all ad networks.) If you’re a math geek, you’ll probably do well at metrics marketing. It involves a lot of testing, tracking, and, well, math.

The theory is the same. They use the above methods to send people to affiliate sales pages, and make a percentage from every sale. The technical stuff: each click costs something. That’s your “Cost Per Click,” (CPC). You want this number to be very low. At the end of the day, you add up all the money you made and divide it by the number of clicks you sent. That’s your “Earnings Per Click.” (EPC)
As long as your CPC is lower than your EPC, you’re making money. The wider that variance is, the more money you’ve made.

That’s the basics. Of course, there’s more.

But, if you don’t understand the basics, the rest is just going to confuse you.

My advice? Start playing the game.  Get your copy of Money From Anywhere and DO it, don’t just read it.

When people ask me, “what the first (or next) thing I should do?” I always answer, “what you WILL do.” If you’re a people-person, or math challenged (like me), you’ll probably enjoy relationship marketing. If you’ve got a rain-man fascination with numbers and their behavior, you’ll probably do better at metrics marketing. It’s perfectly OK to mix and match.

Now, go do something.

Pat said to go get something and this is one of the top programs he recommends for people just starting out, it is relationship marketing and it shows you everything, so click http://yourincomeanswers.com It shows you the inside “how to” of Internet Marketing. And to get your FREE 9 videos ($97 value) go to http://yourincomeanswers.com

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