In economic terms, a cost of opportunity is the best alternative foregone. In internet marketing, the cost of opportunity foregone includes the real or perceived benefits proposed in sales letters, the fees associated with starting up the program, and the back end up-sells coming thereafter as recommendations to buy more expensive product bundles or enter more affiliate programs with unspecified costs after the original sale.
Although not a clear-cut bait and switch technique, internet marketers frequently rely on up-sells of products, usually a higher ticket item, to steer customers away from low-profit items once a customer demonstrates interest. Understandably, business relies on its ability to offset the sunk costs of loss leaders with profits from other sources. The opportunities of cpa marketing will be wide and broad with increase sale of the products. The ability of the person will be increased with use of the technology. The sale and purchase of the products will be effective from online sites. The marketing will be effective for the businessperson for increasing the profit.
The acquisition and sale of products and services are an important part of all business transactions, but the tools for differentiation before sale on the internet are hard come by. The main recourse offered to customers is usually a money-back guarantee.
Promotional offers are abundant, some wildly exaggerated, some negate or ignore useful and expensive options or conditions, and may rely on select feature and benefit theory disconnected from the reality of actual practice until the customer can find out for themselves to tell the difference.
While internet marketing is an essential function of doing business on the web, there is no reason why business opportunities cannot be more transparent especially when customers want to do the same thing as the marketer. Interestingly enough, a few marketers do disclose the approximate time it took them to get up and running to the point where they could make the claims used to induce a customer to buy.
Yes, trial and error is a rite of passage, but that is no reason to be unclear or vague about other essential aspects of business building and how the different parts fit together into the whole picture. Unfortunately, the growth of internet marketing has also induced competition between marketers that leaves in their wake a disproportionate amount of once burned, twice shy skepticism.
New recruits disillusioned by the actual work attached to free and easy, no-brainer, trigger words, in part may account for some of the dropout rates. They are confronted with the reality of learning and practicing skills that are difficult to translate into being in business for yourself. Alternatively there may be a perception of pimping yourself to the highest bidding, fast tracking, empty promises of opportunists that pit you against the hundreds or thousands of like minded competitors.
Aggressive and ruthless marketing, directed to the sole purpose of internet marketing, and calling it a business, can be differentiated by knowing that the same techniques can also be used to develop and service a niche customer base. However, the addition of transparent operating procedures consistent with traditional features of building a business are essential to making a difference in how long a business will last.
Everyone, even the best marketers, started somewhere, and those who persist in the business that suits their character will eventually succeed. Key to this idea are the words persist, and eventual, because it takes determination, practice, and time to shape the brand of your business and the knowledge it takes to market it.
The benefit of slow and steady growth over time is a significant indicator that differentiates a long-term business commitment as opposed to a fly-by-night marketing carpetbagger.
One business battle cry carried over from the 20th century is “Niche or be niched”. It has to do with differentiation, or the differences that make your product better than your competitors’ and thus stand out especially in a crowed market.
Although internet marketing carpetbaggers appear as tough competition given their outstanding sales approaches, a dedicated business person can start to set their business apart by budgeting to operate a web site and writing niche related articles for a few years at least while researching, testing and deploying the variety of marketing and sales techniques available.
Cost of doing business can be limited during startup while your skill sets needed in the internet market can be discovered and modified to your product and niche. Here is a short list of considerations that help to govern the cost of opportunity foregone.
- Set a budget for up to three years of operation to include basic internet services needed to operate a business like a computer, high-speed connection, and internet service provider. All the software needed to produce professional quality communications is now available as well developed, well-supported, open source products at no cost. Here’s a link to my favorites. http://www.h4h.biz/bbr-blog/software
- After you subscribe to marketer’s lists you can expect regular emails announcing products, business opportunities, and training as they come available. However, beware of the time-limited squeeze. All products have a life cycle and the time limit squeeze in some cases creates artificial scarcity. New, improved, better etc. is always on the tail of what has gone before. So bide your time and choose wisely. For the most part the information is useful if treated with the respect it deserves.
- So, what deserves respect? Skepticism is only as good as the tests used to determine whether or not the product or service fits your business needs. As your needs change, and your tests for content become more refined, subscriptions will also change so expect to drop some in favor of others – in other words opportunity foregone is a cost of doing business.
- Free, bonus, over-delivery, and other inducements to buy do come with a cost and that is your time. It takes time to survey and read for content and test for function. Furthermore, the content of some bundles are not connected. Your time is far more valuable than products, services or money, so like money, put time in its place and choose to spend it wisely.
- The Rule of Four is identifying a product nobody has, everybody needs, is priced for profit and is priced for sale. This measure is helpful in the selection of markets to work and products to sell. Keywords then become the end and the beginning of internet marketing. They are used as guides to identify supply and demand, market and niche, to sell or compete, and choose between the costs of internet marketing opportunity foregone.