Business Plan Email
Developing an Internet Marketing Business Plan
The first key to having success online is a business plan. A business plan is a set of goals that are attainable. Regardless of whether or not you are dealing with a physical location or a virtual location, ask yourself the following five questions:
- WHO is my target audience?
- WHAT am I offering my target audience?
- WHEN will I be ready to offer to my target audience?
- WHERE will I get the financing to buy the product or program to sell to my target audience?
- HOW will reach my target audience to let them know what I am selling?
Who is my target audience? To determine your target audience, you have to decide which regions you want target. This could be a city, a state, a regional section of a country, an entire country, selected countries, or the whole world. You must decide the best option for your Internet marketing venture.
What am I offering my target audience? Next, you need to determine what you want to offer to your targeted audience. Unless you develop a new product or program, the new Internet marketer usually buys the resell rights to software and membership programs. In essence, they are affiliate marketers. As you continue your Internet marketing venture, you will gain the knowledge to develop your product or program. You will learn over time to identify wants and needs of your target audience in the development of your product or program.
When will I be ready to offer to my target audience? After you determine your audience and what you are going to offer, you need to have a timetable to get the product or program out to your audience. In the Internet world, opportunities to sell to your target audience diminish quickly the longer you wait to offer the product. Especially in affiliate marketing, time waits for no one. If you are fortunate enough to develop your own product, you have bought a little time. Work fast, but more important, work smart.
Where will I get the financing to buy the product or program to sell to my target audience? When I talk about where the financing will come from, most new Internet marketers get nervous. Most new marketers will use their personal savings to:
- buy resell rights to programs or software
- buy access to mailing lists
- buy adverting such as pay-per-click or banner ads
- buy access to autoresponders when people sign up
The point I am trying to make here is that you will have to spend money to make money. Several new Internet marketers usually stop at this point because they are unaware of the actual cost to operate an online business.
How will I reach my target audience to let them know what I am selling? How you reach your target audience to let them know what you are offering is done through advertising. Advertising comes in different forms. These forms are:
- free advertising
- pay-per-click advertising
- Article marketing
- You Tube marketing
- Advertising through blogs
- Opt-in and Safelist emails
- Solo email ads
- Banner advertisements
- Newspaper and magazine classifieds
Each of these forms of advertising does very well. Free advertising, pay-per-click advertising, and opt-in safelists are what I use most often.
Once you have the answers to your five questions, you will be able to put together a business plan. The key in any successful business plan will be how realistic you are in your answers to each question.
About the Author
Ronnie George is an Internet Marketer that has degrees in Business Administration and Business Education from Middle Tennessee State University. He is also the author of the upcoming eBook “The Training Guide for New Internet Marketers,” released December 2009.
2010 Business Plan Competition at the Paul Merage School of Business
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