Last week I told you about bug fixes announced by Android as part of its May security bulletin. Well, over the weekend Samsung began releasing fixes for 27 vulnerabilities. Twenty-one of those are labeled as high severity. Handsets affected are the S9, Note 8 and S8 phones. Make sure you get them installed. Those of […]
Make Money Online
This isn’t going to be an article about how to make money online. I think my website trevorweir.com has hundreds of those types of articles on it already. So if you’re aim here is that you really want the truth about how this is done, check out the last paragraph on this page. Yes, that’s right, I whole heartedly give you permission to skip the entire story and just get to the making money online part.
But to be fair, you would be missing the best parts because this article is totally NOT about the make money online genre.It’s primarily about a young man named Gauher Chaudry and his two day closed room presentation at the Holiday Inn airport hotel in Toronto, two weeks ago.The topic was not make money online, but it should have been. The actual topic was about optimization of the sales funnel used in either Cost Per Action or Direct Sales online.Prior to attending the two day seminar, I would have considered myself an expert on the sales funnel optimization process simply because I have helped a number of companies to bring their cost of customer acquisition down from amounts of over a hundred dollars to more reasonably amounts like 28-35 dollars.
How to Shake the money Tree – Make Money Online
Business.ca was one such company. In a rare move, I was even able to get clients for a limousine company, enchantedlimo at the pretty ridiculously cheap price of 2.13 per lead from Google itself ( who if you are in the business of buying direct traffic from Google, tends to be quite expensive ) However, after Gauher, got into the nitty gritty of the seminar it became obvious that my knowledge while foundationally sound, was only 85% of the big picture. And if there is anything that I have learned about this make money online business is that 85 or even 90% doesn’t cut it in competitive areas.
Offline success not always translating online – Make Money Online
I have friends who are making a killing ( 5-6 million pounds annually ) selling a particular widget, but every time they attempt to take that same set of well known widgets into the online format they get to the 85th percentile and due to internal issues simply are unable to get to the 95th percentile where one is firmly in the money. So, it was with quite some interest that I listened as Gauher first went over the well known calculations that almost all make money online marketers understand. These calculations – for the uninitiated – are
- Traffic divided by Signup numbers = pre-Conversion rate
- Pre-Conversion numbers divided by Double optin Rate = Lead Generation Numbers
- Lead Generation Numbers given 100 messages across a 365 day span should convert to 1-3 USD per email value.
So, there is nothing too new to the make money online crowd in that formula. In fact, if I used acrynyms familiar to this genre such as CTR, EPM, CPM etc. the formula could be described far more succinctly. So, as I said, nothing too new in this at all.
Traffic Formula – Make Money Online
The reality of the aforementioned situation is that you spend approximately $100 for lets say 10 cent traffic and get 1000 people to your front door. Perhaps 10% of them convert to your
email list and you lose another 2% to the double optin mechanism. So, now you have a $100 spend and 8% of the 1000 visitors actually get on your email list. You now have 80 people to market to and you hope that sometime in the next year several of them will find your products or affiliate products interesting enough to make you back the $100 that you just spent on them. But if you are an online marketer using google adwords, you know that whats wrong with what I just wrote above is that you are NOT typically going to get 10 cent traffic from Google in the make money online area. The clicks from Google for this market segment are typically 1-9 dollars, not 10 cents. Even though Yahoo advertising ( now Bing ) is cheaper than Google, you will still not typically get 10 cent traffic clicks from any of these 3 search engine giants. But those of us at Gauher’s seminar in the make money online genre or who have taken Gauher’s pay per click or pay per view courses in the past, do know how to get qualified 3-5 cent clicks, so you should have been there. It wouldn’t be fair for people to spend $2-3000 flying in from all over the world to learn all that and have me spill the beans for absolutely nothing in a public blog.
Shock us Twice Over – Make Money Online
It was what Gauher said next that had even experienced big name online marketers in the crowd sitting up straight and paying significant attention. Gauher said, “What if I could show you all how to actually make money while building your list?”
Yes, Gauher said, while building the list, not waiting for several weeks or months afterwards as many of us had been doing. In truth, since I was looking elsewhere at the time this was said, the full import of it was somewhat lost on my poor brain for a few minutes.
The power of the autoresponder – make money online
Gauher, then pointed to Jonathon Von Clute, author of LPGEN2, and asked him to verify if he hadn’t in fact done something similar quite recently. Jonathon took the physical mic and took a few minutes to explain to many of us in the make money online niche, as to how he had done that. In Jonathon’s example, it appeared as if he was actually making more immediate money building the list than he was in paying for the traffic for that created the list.
That’s quite a sweet position to be in since it means that if you can get paid weekly for sales generated on 30% margins you can turn over the initial funds almost 5 times in a month.
Just to be sure that you understand this – Turning over a $1,000 traffic investment at 130% each week for 4 weeks gives you 1000*1.3*1.3*1.3*1.3 or a very healthy $2856 the first month and by month 3, the number is not far from 18,000. Lots of people in our little meeting were turning over more than triple this 18,000 on a monthly basis in the make money online genre.
Between Gauher and Jonathon, they went on to describe a truly virtuous circle where immediate cash to fuel further traffic acquisitions could be recycled. I was there with Craig, ceo of jungle-media. Craig had flown in from england and was enjoying a bit of very nippy Toronto weather, but even his eyes went quite round as Gauher began to explain the tools necessary and the business math behind the madness in this make money online niche.
Universal applicability – Make Money Online
Many of the concepts explained could have been applied to about 90% of the businesses online. A few of them bordered on being either gray hat or something that ninnies would consider to be slightly intrusive, but the results speak for themselves. Long time marketers in the make money online genre have to their intense surprise driven their sales up to 300% higher by using just one of the major technologies explained by Gauher at the seminar.
Several additional concepts were explained in detail and as a hint I can tell you that several of them involved exactly what one did or how one handled the first sets of messages in the autoresponder series. The autoresponder series is the marketing engine and some would say the lifeblood of a “make money online” methodology.
Relationship Building Thru Autoresponders – Make Money Online
For those that dont know what an autoresponder series is, it is a series of email messages that automatically go out to a user who gets on the list. Most of us quickly burn out our lists by attempting to sell to the list prior to building a relationship and there are two very contrasting thoughts about this which I won’t go into here.
I would prefer to give value and build relationships with my list prior to letting them know about the latest set of tools to aid them on their way. If a marketer in the make money online genre comes off as being pushy or simply looking out for their own interests on an ongoing basis, then subscribers slowly drop off the list or stop answering the email. See part II in this series make money online for what next happened at the TLC seminar.
Google Adwords or Yahoo Search Marketing which is better? The result may surprise you.
Overture is Yahoo’s equivalent AD display and back end management system.
In truth, Overture is now called Yahoo Search Marketing and originally was a search engine in of itself at one time. Some users may still remember it as go.com
Amongst online marketers ad agencies and others, there is this oft repeated question, “which is better ?…”
Google’s Adword or Yahoo’s Overture ad management system.
Well there is no doubt that at the moment, Google’s management system is significantly better despite Yahoo having had just as much time to get their system up and sparkling.
Significantly better… but what does this mean and if i said, significantly better, I would expect a few of you out there to say, significantly better for what and for whom.
Ahh, now we are getting down to the crux of the matter.
For straight up analysis and backend reporting, I doubt that i will get flamed ( much…) for repeating what many technical adcopy and ad agencies already know. The Google backend system is tops. In the sincerest form of flattery, it is the de facto standard and everyone and their brother who runs a search engine and is selling traffic is either attempting to emulate, reverse engineer it or using it as their benchmark in terms of the feature set and analytical tools.
So, does this mean its very, very good – this backend management system?
Well that’s an opinion and not easy to answer definitively. Google’s adwords management has benefited from an incredible amount of usage and finetuning. Google’s internal usability testing also appears to be significantly better than that of most other fortune 50 web companies. So the ad management backend has become the system to beat as a benchmark and has stayed that way for quite some time.
Many long time users who are pay per click specialists could give you a quarter dozen very valid ways of improving the Google Adword system, so it’s not perfect by any stretch of the imagination. However, it is well thought out and quite the formidable 600 pound gorilla in this arena
I digress here, but if your company sells an instant gratification product and you knew for a fact, that you rarely if ever received sales between 3pm and 7:30pm on the third Wednesday of every month, perhaps you might turn off your advertising during that time or at the least tune it down significantly. Why, then is it that Google only recently allowed you to see this, and why is it that you still need to do a highly customized report to even easily see this type of trend.
Ahhh, well, some might say, its because the search engines really did not want you to know this level of detail …
All this “shadow confusion” did, was to give room to 3rd party groups like Atlas to build a better mousetrap, ha ha.
But, does the fact, that the google adword system in general have the upper hand over Yahoo’s overture system mean that Acme’s widgets should use this in preference to Yahoo?
Most Pay per click specialists would wisely tell you as a customer.
Test them both, because experience has shown us that its a different set of customers ( demographically ) who use google vs. yahoo.
I have visited this topic once before in this blog and my results then showed that some decision makers appear to inhabit the Overture spectrum and thus several of my customers who were B2B ( Business to business ) had conversion rates on Yahoo that were more than 250% better than Google.
In contrast, a particular customer who ran limousine services seem to do so well from google that there was no persuading this guy to spend one single penny on Yahoo.
In truth, unbeknown to this customer, I tried just to see what might happen and it flopped. Overture would not convert well for this type of business.
So, the answer to this question, is still not black and white.
So, today, you’re about to say, hey buddy since you haven’t given us any really new information why bother waste our time.
Well, I am here to tell you that from November 2007 thru to June 2008, many of my Overture Results have outgunned, outrun, outmanned, outmaneuvered my google adwords by a factor of 1-300%.
After scratching my head for a while and digging around in my campaigns to find out what had gone ( wrong ) or right, i came to the conclusion that a significant number of advertisers bidding on the overture terms had simply gone away, leaving bidding at an all-time low for many of these terms.
So, where had my bidding buddies gone? Well, over to Google of course – i think, hey well i didnt go over there and really check… but what i know is that they are simply NOT in overture!
Check out the Google vs. Yahoo financials over the last quarter and see if that doesn’t bear out my theory.
Google has done such a fine job of branding that every Tom, Dick & Harry ( Apologies to Tom and Dick and Harry ) thinks that they absolutely have to be on Google.
Well, my boss says we have to be on those google ad thingies to get the first position so that’s why i am gonna do…
Well, it could also be that too many of us are tired of using the rather anemic yahoo ad management interface… and it could also be that if any of you were running ads last year this time, you would know that ads promoting retail products did extremely well while b2b business offers going into the XMas season did quite pathetically for many of us.
It could be all of these reasons, a combination or perhaps none at all, but if you are currently running overture ads and google ads, go and check your own results. Depending on the industry that you are in, you may be in for a pleasant surprise.
As of February 2008, I would certainly review moving a significant portion of my B2B advertising back to Overture simply because it appears as if the sheep have done the opposite.
And for the uninitiated, you never want to get into a bidding war with the sheep. So, the less bidders ( sheep or otherwise ) the better the chance of getting a reasonable or outright low bid for your very valuable keywords.
Btw, sheep always think that they need to be in the number position. Or sometimes its the sheep’s BOSS who thinks so, but in any case, you never want to get into a bidding war with the sheep, it just too rarely ever pays.
So, Overture/Yahoo has finally put a better management system into place and things are hopefully… looking a little better for both Yahoo and their ad customers.
As an update it appears that after Yahoo and Microsoft fell out of love, Yahoo has made a deal with Google that will give Yahoo another 450 Million annually in advertising Revenue and hands Google 80% of the ad market online.
Update on the update Nov 2009
Don’t you just love Mergers and Acquisitions ?
The deal ( Yahoo/Google ) fell through, probably due to intense lobbying pressure from not only Microsoft but any other US Senator whose own people might feel job insecurity due to the proposed Google/Yahoo deal. That’s the way the real world works and personally, I would prefer as an online marketer to have more choices.
Since the users of both systems will not necessarily migrate from one system to the other, what I wrote above still holds true.
Update on the update on the update Feb 18 2010.
Last week Yahoo sent out a **confidential* message to yahoo ad buyers informing them that yahoo and Microsoft have now got back together again – at least for search. So keep your fingers crossed, keep testing both adwords and yahoo search. Some markets still respond better to one than to the other.
And while we are on this topic. The hottest area for purcashing traffic is now either PPV ( Pay Per View ), Facebook or PlentyOfFish.
These alternatives may be considerably cheaper than either google or yahoo.
Comments on Google vs Yahoo on Flash and seo.
I saw the following in my email, and thought that the writer below had some good thoughts on pay per click advertising. But on reading further it was obvious that some parts of what was being discussed was misleading and fairly opinionated ( read non-factual ) . The author was saying that Google’s search bot has no ability to read or decipher a site made entirely in flash. Thus concluding that one should never build sites with flash. While there was some truth in that statement before, it is not true at all, and one needs to be careful about saying never, especially when it comes to Google and technology.
Using flash judiciously along with rich text formatting is in truth the methodology best suited to building sites that will be appealing to both search engines and users.
The part of the post that i take great exception to is where our friend attempts to categorize Google and Yahoo. He says that Google is business to business while Yahoo is mostly for consumers. My own adwords and Overture campaigns campaigns say that this **fact** depends on the sector being discussed.
In general, I have said before that Google’s popularity can work against it.
People use Google to research everything. Those researchers who have very little intention to buy or subscribe to products will click on the paid ads at the top and the right side of the screen. This click action is particularly prevalent for the number 1 thru 3 pay for click listings.
So, Click, click, Click – Kaching in the Google bank account. Even competitors will occasionally click, click, click to research what their market sector is doing and to intentionally run up the bill, particularly when the click is a 3-10 dollar click as the first position in a highly competitive area can be.
So, lets look at Yahoo. How does the googling help your Yahoo ad results.
Well, it stands to reason that if more research is done on google, that less research is done on Yahoo, right? Perhaps, but that statement neither defines nor truly aids in the resolution of the problem.
Studies ( yep with real stats ) using real money on the same ads in both google and yahoo have shown that people interested in the same market segments, when using both engines, appeared to respond differently when searching for the same item. For B2B ( Business to business ) we frequently saw less research and more action occurring in our yahoo ads resulting in consistent $35 conversions in Yahoo vs $54 in Google after all the tuning could be done – 2007. Note this was before Yahoo’s latest set of changes which allow even more tuning.
So, our opinions, on this, differ strongly from that of the author who wrote the text below ( More pointers for a good search engine listing ).
While none of us may be entirely correct, ad campaigns run on both search engines do seem to consistently show that the sectors that do well on Yahoo or Google consistently outperform on the particular search engine platform that they do well on. Demographics of the searching audience, increased competition on Google driving the adword pricing up? Perhaps a combination of these and more.
So for limousines and taxi services my Google ads outgun Overture consistently while many of my business to business ad-campaigns on Overture outperformed my similar Google ads by a margin which has to be seen to be believed.
Below is the email that i received a little while back.
More pointers for a good search engine listing
Worse, website designers are still building sites with Flash. Flash is great. Flash is startling. It looks terrific as all those images come cascading in a blizzard of light, shade and colour. The only problem is – guess what? – the robots can’t figure it out. They are puzzled, bemused, unable to grasp what is going on. The result is that they go somewhere else, probably to a site where the designer has laid everything out on a simple plate for them.
Until the search engine programmers figure out a way to write algorithms that understand Flash presentations, the simple, no-nonsense, text-based sites will continue to win hands down. And by that I mean they will continue to win good listings. Which is the object of the exercise.
To be fair, however, the great majority of web designers have no abiding interest in search engine optimization. They figure that their job is to build a site that is both attractive and interesting. It is therefore up to the site owner to lay down a few rules when commissioning a build – no Frames, no animated gifs and, above all no Flash.
Is Google really the greatest?
And finally, folks, a word about the search engines themselves.
Everybody wants to get a good listing on Google. To them, Google is the be all and end all and that there really is nowhere else to be. What they tend to overlook is that the so-called lesser engines are equally good at pulling business if they are fed properly.
I have a client who receives 80% of his Internet business (which is substantial) via Yahoo, on which he is No 1 for all four of his search terms. Google does very little for him. Why should that be? It’s because, when you get down to it, Yahoo is a consumer-oriented engine and Google is predominantly a commercial or business-to-business engine. And his business is geared to the consumer market.
I know that many seo elitists will take issue with me about the efficacy of this statement. So be it. But I will get my retaliation in first by saying that (a) their argument will have to be damn good to convince me and (b), I don’t really care what they say.
My own comment on this is that, its very difficult for the average user to discern what is real and not real when there are so many passionate half correct seo consultants publishing information that appears correct.
For the longest time a desperate customer could get an unethical seo person to literally spam (via blackhat techniques ) yahoo and get away with it. Though yahoo might disagree with me, at this time 2008, I think its still possible to spam yahoo and msn and to a large degree, get away with it. Doing the same with Google requires more work. Enough work that, one might as well just do it the right way.