Flawless Marketing Ideas for Auto-Generating Cash Into Your Online Business
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Now you’ve launched your business tick – you know your target market – tick, now it’s time to get the word out and let everyone know that you’re open and ready for business. This part of the startup journey is key to the success or failure of your business. Your business model is set up and you have a great product and a great landing page that will help to sell it. This should maximize your conversions and that means that all that is left to do is actually send people to your page. That’s where marketing comes in.
Where is the best place to start? Not to worry in our latest article form our Marketing Tool Box we share some ways to help you get started successfully.
Your Buyer Persona
Good marketing means knowing exactly who you are marketing to which is why choosing the niche is so important. You want to go much further than simply identifying your ideal target audience though… you also want to profile them! Psychology is so important when it comes to selling and this is what will allow you to avoid working hard by working smart.
Your buyer persona is a personality outline of the people you are selling to. This will look at where they spend time, how much disposable income they have and even what their hobbies and interests are. This in turn will allow you to get inside their head and sell to them in an even better manner.
It also pays to understand some of the natural driving forces behind all of us. For example, keep in mind that people often buy products as a form of self-expression. That is to say that we love to express ourselves and often we buy things because they say something about us.
Think about it: you probably have a ton of old DVDs and many of them you only bought because they resonated with you and you wanted to show them off in your collection to illustrate that fact. This is how you can sell your products too – by making things that are specifically aimed at one person.
If you’re selling a t-shirt with a joke on it, make it a joke that will really resonate with a particular type of person or let them show off some aspect of their personality. This is what will make them want it and it also works because it’s what will allow a product you sell to be a ‘perfect gift’ for someone. You want people to look at it and go ‘that is soooo John!.
Understanding the psychology of your buyer and tapping into the driving forces that makes them buy is the single most important way to make a passive income model work.
A Fool-Proof Ads Strategy
With your target demographic identified you can then set-up and advertising strategy to send people to your site where they can buy your product. We are choosing PPC advertising because it is a form of advertising that will allow you to set everything up and then lean back to let the cash roll in. When it comes to PPC advertising options, there are two big players. One is Google AdWords and the other is Facebook Ads.
Google AdWords allows you to pay for your ads to appear on SERPs (Search Engine Results Pages) for particular terms. That means you can make sure that your foldable weights bench comes up for the term ‘foldable weights bench’ or ‘workout without space’. Whatever the case, this works well because it allows you to target people who are actively looking for products like yours.
You’re getting people who want your product and who are in the process of looking to buy it! For our completely passive form of income though, we’re going to look at Facebook Ads in particular. Why? Because these allow for much more precision when targeting specific people. Facebook Ads will allow you to target your ads to people who fall into very specific demographics based on the information they added to the site.
That means you can target people by their age, their sex, their location, their relationship status, their likelihood of owning property (Facebook also deduces a lot of information), their weight, their hobbies and interests and more. And you can also filter your ads to exclude certain people. So if you’re selling a folding weights bench for students through Amazon or a dropshipper, you can now sell that weights bench to: male students who don’t own property, who are interested in fitness, who are single and who don’t weight very much.
Could there be a better demographic for your bench? And because you know they’re single, you can choose to market your product in a way that really emphasizes the sex appeal that a big, strong chest gives you! Or how about selling a t-shirt with a funny joke about being self-employed to people who are self-employed?
It’s so easy this way to match your product directly with your target audience. Or how about if you are selling wedding decorations, selling them to women who are engaged and have shown an interest in the style of décor that your items fit into (such as shabby chic). You can infer someone’s likelihood of enjoying shabby chic by looking at their favourite bands and books even!
Perfecting Your ROI
Better yet is the fact that you can also set the budget perfectly to avoid spending more than you are earning.
Remember, with any PPC advertising set-up, be it Facebook Ads or Google AdWords, you are only going to pay when someone actually clicks on your ad. So if your ad isn’t working and isn’t attracting clicks, you don’t lose anything.
And because you are only showing your ads to people likely to want your product and you are going to use a very upfront explanation of what the product is in your ad you can thereby ensure that people won’t click on the ad unless they’re likely to want to buy from you. And that way, you can enjoy a VERY positive conversion rate for that audience.
Better yet, you can also calculate your budget and your spend perfectly to ensure this. You choose what your maximum bid for ad clicks is going to be and that means you can choose how much you’re willing to pay for your visitors. That means you can look at how many visitors you get in a month and how many sales you make in a month.
Then you divide the profit by the number of visitors to work out the average value that each of your visitors is worth to you. So if you have 100 visitors a day and make one sale of a $100 profit product, that means your average visitor is worth £1 to you. And by doing this, you can now make sure you are paying less than $1 for each click and means you should make measurable, predictable profit from every single click.
Facebook even allows you to go further by using CPA advertising, where you only pay if someone actually redeems a special offer. This is fool proof passive income and the worst case scenario is that you spend no money and earn no money. In which case, you simply tweak and hone the various factors until you find the sweet spot.