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Monetization and List Building – Getting Started Online – Part 5

In the fifth part of this series on getting started in an online business, it’s time to look at how you are going to earn money from your brilliant idea!

In other words… “monetization” (or monetisation depending on what part of the world you are from).

As you would expect, there are ALSO countless ways you can monetise an Internet business… but the very FIRST THING you should have… in WHATEVER monetization strategy you are developing is…

Build A List!

list buildingSeriously… I can’t emphasise this enough! Building a list is essential to the survival… no… success of your online business.

Maybe you’ve heard it all before… but there are huge numbers of prospective Internet marketers who have, and STILL have done nothing about it!

Building a double opt-in list of potential customers who you can develop a long-term relationship with, should be THE main monetization strategy you employ in practically everything you do online!

Yes… even on a sales letter! I’ve seen a few of those lately using this tactic quite effectively, both in the body of the letter, and in exit popups.

ASK your visitors for their name and email address at EVERY conceivable opportunity.

I’ll got into more detail in future posts on the actual step-by-step processes you need to implement to actually “do” this. That detail can take up volumes by itself… too much for just this post.

But for now…

Please acknowledge that YOUR number one method for making money online MUST BE list building! It MUST be included in your planning, no matter what type of online business you are running!

Don’t use any excuses like “People won’t like me if I send them emails” or “They’ll think I’m spamming them” etc… because they won’t, or “I don’t know what I can send them….”

As long as you carefully plan and structure what you are going to “do” with your “list” of people… as long as you understand the processes involved, and your prospect’s possible reactions… and not just indiscriminately send out one worthless promo after another…

As long as you do that, you actually won’t have too many problems!

And as far as getting the auto-responder and list management software you need to implement this – please DON’T get it – yet!

Don’t get it until you have everything ELSE in place, otherwise you’ll be wasting effort by concentrating on the wrong thing at the wrong time!

Why all this really strong emphasis on building a list? How many reasons would you like πŸ™‚ Well how about just one…

Once you have the name and email of people interested in what you have to offer, you can work on developing an ongoing, long-term business relationship with them. You have the opportunity (remember, you ARE in business) to make money every time you send an email!

Provided… well, we’ll get to that soon πŸ™‚

It’s NO good working your butt off to build traffic to your web site, if you have NO method of signing them up to your list…

The hundreds of people who come to your site WILL simply check out your site and then leave… never to return! What a wasted opportunity.

For example, on this site you’ll notice that after each post is a link asking you to subscribe to the email alerts feature.

Feedburner manages this β€œlist”, and subscribers only get sent a daily email of the latest posts made on the site (if any were made that day). So before you subscribe, you’ll already have a great idea of the type of content you’ll get – the same type of stuff that’s already here!

I am also implementing two other “lists” as well:

  1. A notification list for people who want to find out about the OMF Members area which is under development, and
  2. A more “traditional” newsletter subscription (which is not quite ready to go at this stage).

Finally… anyone who purchases any product advertised on this site, I’ll ensure I get his or her name and address as well!

Important Note To Self Here…

I am NOT trying to build one “mega” list of people all lumped together with some vague interest in the subject of Internet Marketing.

How many different “lists” am I building there?

Not one. Not two… But FOUR lists!

Four different groups of people who have slightly different expectations, even though they are all interested in the same niche.

And you can’t manage four lists (or more) unless you have a detailed plan about what you are going to do with them!

More Please!

There are (obviously) more ways of monetizing your online business, but I wanted to dedicate this first post on the topic to list building!

One sensible recommendation you’ll hear repeated often is to include at least THREE different monetization methods on your web site.

So that’s the first method introduced to you!

#1 The List Building/Opt-in Form
(with FOUR different variations).

More monetization methods coming next time…


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