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As the Rich Sage I investigate how to make money online, how to keep costs down and the best programs to promote. With 12 years of full-time online experience, I have a vast knowledge about what works and what does not. Additionally, I inform all of my readers from richsage dot com, along with a free membership that delves deeper into monetizing online. I also spend a lot of time reading about making money online and I find often on marketing forums that online Entrepreneurs make these primary mistakes getting started: KEEPING COSTS DOWN Often the cost to getting started online is about $10.00 There is no cost to setup some of the major affiliate programs, write a lot of articles and drive traffic to the sales pages or traffic forwarding system that sends the visitor to the affiliate site. Where else can you get started in a business with expenses of less then $10 per month? The expenses in this case are for hosting and a domain name. The next major mistake that Entrepreneurs make is SPENDING MONEY ON TRAFFIC: Buying traffic from reputable places like Google’s Adwords, Yahoo or even MSN and a host of other services are very expensive. That is not the way to test if an affiliate program is successful. The best way to test the success of an affiliate program is to write articles, drive that traffic to the affiliate program (while using a tracking script like Google Analytics) and measuring the results. Find out what your conversions are per visitor –for every 100 visitors, how many sales are you making? When you know that ratio, you can start advertising and paying for traffic, mostly via pay-per-click means. For example, let’s say that for every 100 visitors you make 5 sales of a product that earns you $25 per sale. That means for every 100 visitors you earn $125.00 or you’re earning $1.25 per visitor. Now you go to a pay-per-click search engine like Google and use their Adwords program to drive traffic. What are you paying for that traffic? You want to stay around $0.20 to $0.25 cents per visitor to as high as $0.50 per visitor. Then measure and watch this carefully, as this is where you can easily start losing money. You’ll want to keep the visitor cost as low as possible while earning about a 100% return on your advertising costs. Then your success formula is to keep maximizing that return you establish for your key words on pay per click search engine. Make sure to keep the results of paid and free traffic apart so that you have a clear cost of your sales campaign. PATICIATING and HELPING CLIENTS Make sure to use autoresponders, bonuses and forums to keep adding more and more value to the customer that purchases from you. Often Entrepreneurs end the relationship with their customer after the sale of a product. That should be the START of YOUR RELATIONSHIP! Use the sale to promote more of your follow up products and services. • Work with the new customer to meet their needs with a forum or an autoresponder series to help them further. • Add value to the purchase by offering a free ebook with more help, answers, etc. • Lastly, consider running a mailing list that offers more support with a weekly mailing. By making small adjustments and watching how you handle the sales and post sales, you’ll find that making money online can be very lucrative. If you need more sound advice, you can always rely on the Rich Sage for wisdom that works.
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