If you want to bake a cake and have it come out of the oven nice and tasty then you must follow a strict recipe…
… if you miss one ingredient, that’s it… It’s ruined.
And building a successful online business is no different. Thankfully there are many people who have cut though and paved the way before us and figured out the proven recipe. But just like baking the cake, if you miss one ingredient you will fail.
So let’s get into it…
Here are the 7 core components that you must have to build a successful online business.
1. High Quality Lead Magnet
This can be an eBook/report, audio, video, software or simply a promise/hook to what you are offering. Your lead magnet must be something that your market place wants and solves a problem for them.
Years ago marketing genius Eben Pagan coined a term ‘Push the free-line’ and what it means is that instead of given something of low quality away for free, push the free-line and give away your best stuff or something of high value that says to your prospect ‘Wow if they are giving this away for free then the product they are selling must be incredible’.
2. High Converting Capture Page
This is the page where you give away your quality lead magnet in exchange for an email address. You should always be testing and tweaking your capture pages to increase the optin rate. If you don’t know how to do testing and tracking then read this free guide and tutorials
3. High Converting/Quality Offer
The best advice I was told regarding what to sell online was, sell what people are already buying, that way you just need to get it in front of them.
Saying that, you still need to test offers and choose offers that are quality not only for sales conversion but I believe you should only promote what is good for the customer and the world in general.
There are a lot of problems in the world and you can either be part of the problems or part of the solutions and promoting offers that are high converting but not quality for the customer then I recommend you do not promote it.
4. Proven Email Follow Up
I have spoken a lot about the importance of email marketing and daily follow up.
The email marketing strategy that has been working best for me is – once someone subscribes and claims my lead magnet that person is than put on a list that has usually a 7 to 10 day daily Soap Opera email series, If someone purchases then that lead is moved to a ‘Buyer list’ and if that do not purchase then once the Soap Opera series is over the lead is then moved to a ‘Bulk’ email list where I send daily (often twice) emails.
This way I can build rapport with my leads at the beginning and then once you have developed trust you can then offer them other related affiliate offers once they are on the ‘Bulk’ list increasing your profits.
5. High Converting And Profitable Funnel
This goes back to point 3 having a high converting/quality offer, you want to make sure the offer you are promoting has a backend sales funnel ideally and ascension style sales funnels that offers additional high converting/quality offers.
This will increase the average commission per customer and allow you to run profitable campaigns to grow your business
6. High Ticket Backend Commissions (If you know Bevis & Butthead you just laughed didn’t you?)
In order to scale and really grow your business into 6 figures and beyond then you need to have a funnel that also offers high ticket products that pay high commissions into the thousands and tens of thousands. This will provide the cash windfalls to really grow your business.
7. High Quality Traffic
Once you have all previous 6 components in place it is time to get your capture page with your lead magnet and backend sales funnel in front of high quality targeted traffic. If you have all the 6 components correctly in place getting traffic should be a non-issue, simply choose one traffic source to start with, like solo ads, Facebook or Google Ads until you are profitable with that traffic source then scale to more.
As I mentioned at the beginning this is just like baking a cake, if you miss an ingredient it will taste like cardboard and this is the same for your online business, if you miss just 1 component then it won’t work and you will not be as successful.
So there you have it, the 7 core components you need to build a successful online business.
To get step-by-step training on how to implements all these 7 core components even as an affiliate marketer so you can drastically boost your profits then read this free 48 page report.
My goal is simple: To help you achieve personal freedom and financial prosperity using the power of internet marketing.
On this blog I share my experience, strategies and case studies of what is working and whats not. If you are serious about building an online business I also have dedicated coaches ready to help you with your online business. With the assistance of a personal 1 on 1 coach you will accurate your results be having someone help you understand all the training, stay focused on what works and ultimately help you achieve your goals faster. Click here to find out more