As an internet marketer, blogger and membership site owner, my job is to provide the content, training and tools they need, and recommend the good products that will help my members further their internet marketing career
I thought it would be a good idea to ask my members and find out what stage they were at, what they were missing - and more importantly what I would need to do to help them.
The results were quite interesting and a real eye opener for me. So much so that it inspired me to write this book. A book with a step by step system that is very much designed to help the "average survey taker" get into some of the more, shall we say, profitable pastimes
I've included the survey question, results and my comments here - and there are a few reasons for that:
1. It's an interesting read and you can learn something about the market place we operate in, by seeing the numbers and contemplating on my comments.
2. The survey was originally done on a 25,000 member list and got a 10% response rate. That means that it's statistically valid, chances are that the average would also apply to any list you have within the internet marketing niche. In other words you can use the results and knowledge in your own marketing.
3. As I said the survey and results was the foundation for the ebook you are about to read. Going through the survey first will give you a better understanding of the system I'm about to reveal to you.
So let's jump right into the survey...
Question 1: How long have you been involved with internet marketing?
6 Months or Less = 22. 30%
6 Months to 1 Year = 22. 30%
1 to 2 Years = 22. 30%
2 to 5 Years = 21. 19%
5 Years or More = 12. 27%
No real surprise here, the numbers are pretty evenly spread out, and I have seen similar results before.
If anything, it shows us that internet marketing is still in its infancy and thousands of new people are joining our ranks each day... I have heard a lot people say that marketing to the "internet marketing niche" is hard, the market is saturated etc. I completely disagree. I think this is the easiest niche to master, especially if you are relatively new to the game.
Question 2: Are you working full time online?
Yes I'm full time and I make a "full time income" = 7.43%
I'm full time online, but I don't make a "full time income" = 34. 57%
No, I have a job so I'm part time online = 57.99%
Not surprising either, when you consider the stats above - after all you don't just waltz in an create a full time income overnight. It did however surprise me to see the high number of full time marketers, not making a full time income.
I have thought about this, and my guess is that the number includes a lot of "stay at home" moms and dads.
They may not desperately need to create another full time income for the household, but they would like to.
Question 3: What is your income goal - why are you in internet marketing?
To make a bit of extra cash to help make ends meet = 10.78%
I want to create an extra stream of income (but keep my job) = 7.43%
I want to create an income that will let me quit my job = 54. 28%
I want to be filthy rich = 27.51%
This did surprise me... a lot! I thought (and have been told) that most people who get involved in internet marketing are just interesting in making a bit of extra cash, thus falling in one of the first two categories.
As it turns out the vast majority want to quit their JOB, go full time online and be filthy rich (yeah, I know we all want that).
So, that's what people want... But what are they actually making?
Question 4: What is your monthly income from internet marketing?
Zero, zilch, nada, nothing = 50.19%
Less than $500 = 38.66%
$1,001 - $2,500 = 2. 60%
$2,501 - $5,000 = 0.37%
$5,001 - $10,000 = 0.37%
Over $10,000 = 1. 49%
Can't say that the numbers surprise me, but they sure do scare me... Over 50% of those polled not making a single cent.
The number is too high to fend off with a "it's all the newbies" comment, so there must be something else at play.
And this is interesting... if you correlate the numbers with the "full time" question; you will see that quite a few people consider $500-$1000 a month a full time income.
Guess it could be depending on where you live and what your ambition is. It definitely wouldn't be considered a full time income here in Denmark.
That was a bit about what people are earning and what they would like to earn. Now let's look at some of the probable causes.
Question 5: Do you have your own website or blog?
Yes = 71. 00%
No = 29.00%
This used to be the "Holy Grail" of internet marketing, in order to make money you need to have your own website and domain.
While I can't argue that it's still important to have your own site, the numbers clearly show that it's not enough. We need something else and I think the two next questions will give us the answer.
Question 6: Are you building your own email list?
Yes = 58.36%
No = 41. 64%
Now we're on to something (not that it surprises me at all). There is a definite correlation between building a list and making an income online, and it becomes crystal clear when you look at this...
Question 7: How many subscribers do you have on your email list?
I'm not building a list = 29.74%
Less than 500 = 52. 04%
500 - 1,000 = 4. 83%
1,001 - 2,500 = 6.69%
2,501 - 5,000 = 1. 86%
5,001 - 10,000 = 1. 86%
More than 10,000 = 2. 97%
Hmmm... first of all the number of people "not building a list" does not match the previous question. My best guess is that a lot of people have tried building a list but gave up because they did not see immediate results, and thus they fall into the less than 500 subscriber's category.
Other than that the numbers are fairly conclusive. I would bet my entire business that almost all the people not making money online fall into the 0-500 subscriber's bracket.
The "high" earners (or maybe I should just say earners) correspond well to the lists sizes - however it does look like a few people with larger lists are failing to monetize them to their full potential.
Question 8: Do you own/sell your own products or programs?
No, I'm only promoting products as an affiliate = 65. 43%
No, but I plan to create a product of my own soon = 18.22%
Yes, I sell my own products and services = 16.36%
While interesting, I don't think this question offers any conclusive data. You don't have to create your own products/programs to make money online, there are a lot of people making a killing just with affiliate marketing
But (yes you guessed it) these people are building a list.
However, having your own products does make it a lot easier to take your internet marketing income to the next level. It also gives you leverage to utilize JVs, affiliates, integrated marketing etc.
But if you look at the numbers there are a lot of people with their own products, who aren't making any significant income - I'll just jump on my soap box again and say, probably because they haven't been building a list.
Question 9: What are your favourite traffic generation methods?
This was very evenly spread out, no clear winner, and a lot of different ways to drive traffic to your site. If anything, we can conclude that it doesn't matter much where the traffic is coming from
what matters is what you do with that traffic, and to be more specific how you adapt your marketing funnel to the traffic source in question.
It was also very encouraging to see that most people don't put all their eggs in one basket.
However, there was a slight tendency for traffic exchanges and safelists to rank high for most people. Doesn't surprise me when you look at some of the other numbers they are free to low cost traffic generation methods, readily available to the newbie.
If you have an affiliate program, don't underestimate this... Provide affiliate tools optimized for safelists and traffic exchanges. It's what a large % of your affiliates use, and if you don't you are missing out on sales.
Question 10: Which affiliate network do you prefer?
I tossed this last question in out of idle interest, but the numbers where pretty conclusive - most people prefer Clickbank, probably because it's so easy to use (both as affiliate and vendor).
JVzoo came in as a strong #2, with a lot of smaller and independent networks duking it out for 3rd place.
Now on to the short explanation of the results...
Your average subscriber is!
If you are in the internet marketing niche, your average subscriber (and/or website visitor) is:
1. Fairly new to the game (less than a year's experience)
2. Working a full time JOB and doing IM part time
3. Looking to replace the JOB with a full time IM income
4. Not building a list
5. And thus failing to make any money from IM
So it would be a very safe bet to focus your product/newsletter on teaching newbies (from scratch), how to create that "job quitting" full time income online - And you need to do it by showing them how to build a list and how to monetize said list. There are a lot of fads and buzz words in this industry, but that is really what it all boils down to.
Also, if you have your own products and affiliate programs - helping your users to get that first sale, get the ball rolling on the list building etc will very likely generate some very loyal customers, and affiliates who are happy to promote you.
Keep in mind that your affiliate toolbox can give them the best emails in the world and tell people to mail them to their list. It doesn't really matter, because most of your affiliates can't use them - you need to provide tools and services that will help the 97% who aren't making any sales.
The cynical voice will say: "If you help them build a list, they will be better affiliates anyway".
If you were one of the 97% in this survey then you need the advanced IM Success Formula.
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