How To Create A 6 Figure Business Online In 5 Easy Steps
6 figure business online - 5 step plan
Hey what's up guys, it's Nathan here. In this video I talk about how to create a 6 figure business online in 5 easy steps.
Before we dive in...
I just want to state that there are many ways to create an income online. You've got: MLM, affiliate marketing, creating your own products, drop shipping and selling on Ebay just to mention a few.
What I want to tell you is that these 5 steps can apply to create a 6 figure business online no matter what business model you choose, or niche you choose for that matter.
With that being said, let's jump into the 5 steps...
Step 1. Create/Choose A High Converting Offer
It's very important that right upfront you understand how crucial it is that you pick an offer that people actually want. Not only that, but if you're brand new and thinking of creating your own product because you have this super cool idea... I'd advise you to start with affiliate marketing.
Affiliate marketing allows you to start marketing someone else's products, which is great because you'll know if they convert or not and you didn't have to go through the headache of creating a product yourself. Now, later in your marketing career, definitely think about creating your own product, but if you haven't been marketing online for at least a few years, start with affiliate marketing.
You also need to consider the lifetime value of a customer. Basically, you need a high converting, low-ticket front-end offer, and have high-ticket backend offers to ensure you get the best ROI with each customer.
Step 2. Two-Fold - Drive Targeted Traffic & Capture Leads
Now that you've picked a high converting offer in step one, it's time to drive traffic to that offer, but not just any traffic, targeted traffic. You want people who are interested in what you have to offer coming through your virtual store. It doesn't make sense to market to people to don't want anything to do with your products or services.
I've seen a lot of marketers think that the only reason they're failing in their business is because of lack of traffic, and then when they do get traffic...crickets... It's because they sent cheap, untargeted traffic to their offers. That's why this is so important to keep in mind when creating content. Remember who your ideal customer is and create content for that person.
You cannot leave this part out equation. This is a common missed practice in the network marketing industry. I see a lot of marketers sending traffic directly to their companies replicated website where they aren't capturing leads. If you capture leads (name, email) you can than follow-up with your leads and prospects through an automated system called an email autoresponder.
Step 3. Follow-Up With Leads/Prospects
Now that you've captured leads in your autoresponder you can send a series of emails throughout days, weeks or even months to your leads and email subscribers. This is one of the best and most lucrative ways of marketing online. Some marketers will tell you that email marketing is out-dated. That's because they don't have a list of thousands of people to tell about their new product at the push of a button.
Once you start building a list, it's important that you stay in communication with that list. This will build trust. You also get to sell whatever you want to your subscribers. That's the beauty of having a list in the first place.
Step 4. Scale Up With Paid Ads
Once you start building your business and growing your list organically through social media marketing, over time you will begin to produce revenue. If you really want to speed up the growth of your business, reinvest your earnings into paid advertising. This will allow you to acquire new customers and make more money.
This is where we take a look back to what we discussed in step one - The lifetime value of a customer. We must know what the lifetime value of a customer is before we get started with paid ads. If we don't know this number, it's like throwing crap at the wall and hoping it sticks.
Once do know this number, then we only spend up to that amount to acquire a new customer. This is a break even point. Anything beyond this would be a loss, however, if you implement high ticket offers, it's possible to make this up in just a couple sales.
Ultimately, you want to stick to the law of averages, and that is... know the average lifetime value of each customer and only spend up to that amount in ads to acquire each new customer. If you go over, you need to re-work and tweak your ads to make them perform better.
Step 5. Personal Development
Internet marketing and all that comes with it can be a very fun journey, but it also takes extreme dedication and commitment. There are literally thousands of internet marketing success stories, but there are hundreds of thousands of internet marketing failures. Why? Because most people aren't willing to actually do what it takes to become successful.
If you really want to create a 6 figure business online, I'll tell you right now, IT'S POSSIBLE, BUT, you must be committed to the process and stay the course. Don't quit and keep pushing and eventually you will shine through in all your glory riding into the sun on a white horse in shiny armor with sword held high....ok ok Maybe not all that, but you can definitely do it.
FREE EBOOK: SOCIAL MEDIA MASTERY
Step by step guide to building a 6-figure business online by leveraging the power of social media