Different Challenges But Some Are Common
How are you doing so far this week? Good I hope pushing on in a small or big way to move your online business in the direction you want.
Do you face any challenges in whatever you do for your business? Personally, I do and not ashamed or afraid to admit it. I’m going to enhance and optimize my email list building.
Next, I need a decent or rather good sales funnel to promote. Of course this will bring the money you dream of or hope to make.
Everyone is saying “the money is in the list” and I heard this like more than seven years ago! It still hold true in fact it is more the “relationship you have with your list that brings you the money”
I will tell you more in a month or two, let me get certain stuff in place and share more with you.
Challenge 1 – Traffic And Lead Generation
In general, unless you are an experienced online marketer, you are more likely going to struggle with traffic. The issue of traffic is usually linked to lead generation. It’s a twin problem that most newbies will face in their online marketing journey.
Just two questions, you need to ask yourself online marketers!
Now are you producing valuable content that actually, your audiences are willing to pay for it? This is serious, are your entire content worthy to be monetise?
Next, are you delivering content your audience or leads are looking for?
I’ll be the first to admit, many times, I fall short of that.
A recent survey by HubSpot Research found 43% of audiences prefer videos from us online marketers, while only 29% like to see blog post. Do you get the hint my fellow marketers?
VIDEO is the name of the game moving forward. So go out there and start your video marketing.
Personally, I’ll be the first to tell you mine is not there yet.
Next, when you start creating content that can monetise, traffic will be your concern. You want to get notice by your audience to attract traffic.
Remember, today your audiences don’t need any search engine to look for content. They are fed by news feed and emails they have subscribed to. In short, they are very well fed with information.
Challenge 2 – Your Return On Investment in Lead Generation
You want to build an email list (Lead Generation) and you should as an online marketer.
The free method could take you some time (investment of time). Results will be slow and constant refinement on your lead generation campaign is needed.
Now a faster way to kick start your lead generation campaign is to buy traffic. This paid method will see you build your list at a faster pace. Take note, money spent on paid traffic equating to the number of leads that opt-in to your list. This whole process is your lead generation campaign.
Your Return On Investment (ROI) is the cost of obtaining these opt-ins.
Let’s take a scenario to further explain this ROI challenge.
Clicks Bought: 500
Cost of 500 Clicks: $350
Opt-ins / Sign Ups: 150
In Percentage: 150 / 300 = 30%
Cost Per Opt-ins / Sign Up: $350 / 150 = $2.33
You should have email follow-ups after leads opt-in for as long as 14 days. In between those 14 days, you sent them to a Cost Per Action (CPA) programme. Now we take a CPA programme that pays you $3 per sign up.
CPA Sign-Up: 45
In Percentage: 45 / 150(opt-ins) = 30%
Per CPA Sign-up $3: 45 (CPA Sign-up) X 3 = $135
Your initial traffic outlay was $350 (500 clicks); you have recovered only $135 leaving a deficit of $215. In ROI terms, it’s a negative 61.4%.
In order to break-even on $350 you need at least 116-7 CPA sign-ups out of the 150 opt-ins you have. This works out to about 77% of your opt-ins. Now that’s a very tall order, perhaps over-time you might be able to break-even.
This is basically how you look at your ROI.
Challenge 3 – Your Blog Site
Your blog site is the next challenge you are likely to faced. In my past blog post I have mentioned your blog is a platform of know, like and trust.
After you hit the trust factor, what do you want next? You want to sell your services or programme. Your blog needs to perform all these functions round the clock.
So you need content, blog design and some form of optimisation. As a newbie, all these are very challenging don’t you think so?
Alternatively, you may have friends or networks that possessed such skill-sets to help you out.
Now what if I don’t have anyone who can help.
You may like to consider www.fiverr.com browse and go through this platform where free-lancers market their various skills with a certain price tag. As the name suggest, its $5 but depending on type of services sought, it may go over the $5 mark.
Work within your budget and stick to your limits. Do your research and ask questions till you are satisfied before committing yourself to a vendor.
As a newbie, the start is always very challenging. I fully agreed to that. Be it traffic or lead generation or Return On Investment or your blog site; remember it’s a business you are setting up.
End of the day, when you see your first sign up to your email list and the first purchase, you will feel accomplish. Not only will feel that way, but feeling of self-motivation to spur you on further to achieve more.
Do leave me some feedbacks and comments.
Till than I wish all of you a great week ahead, keep on working and take care!