Copyright (c) 2010 Suzan Schmitt
A business model is a plan for how you want your business to run. What type of services and products do you want to offer? What different revenue streams do you want? What type of hours do you want to put in? Do you want to do affiliate marketing? Will you have an affiliate program? When you map out all of these decisions then you have a business model.
There are several business models that are common for businesses that are using the Internet for marketing. You can and should use some combinations of the following marketing methods in your business. Pick three that you are most comfortable with and start with that. You may choose to add others as your progress on the Internet.
Affiliate Marketing is the easiest way to get started marketing on the internet. In the old days this type of marketing was called referral marketing. Find products or services that relate to your target niche and try them. If you find some products that you really like then promote those products by writing articles about the subject that relates to the product. Put an affiliate link in the resource box of the article and you will make affiliate sales. You can also write blog posts related to the product and put links in the body of your blog post. You can do teleseminars, interviews, radio shows and many other things to promote affiliate product. The beauty of affiliate marketing is that you don’t have to have your own product to begin. You can market other people’s products and get paid a handsome affiliate commission.
Information Product Marketing is when you begin to create your own products. Product creation of scares many people but there is no reason it should be scary. If you can write an article and talk then you can create an information product. Just write several articles that are on related topics and create transitions to move from one topic to the next and you have an eBook. If you read and record the articles then you will have teleclasses or mp3 audio recordings. Add a study guide or a workbook and you have a very nice product.
Membership or Recurring Income Marketing is a wonderful way to create a base income each month. You can earn recurring income several different ways like being an affiliate for someone else’s recurring program. Just become an affiliate of someone who has a membership site that you like and you will earn recurring income every time someone joins that site from your link.
You can also create your own membership site. A membership site does not have to be a fat membership site stuffed with years’ worth of content. It can be as simple as a series of auto responders that are sent out on a regular basis for a fee.
These are just a few of the possibilities for your business model. The point is you must think about how you want to generate income and make a plan for how you will employ strategies and tactics to do it.
This is the type of information I share every week with the members of my Mentoring/Membership group Zee Inner Circle. If you would like to get more information on weekly mentoring check out http://www.zeeinnercircle.com also get my free ecourse at http://www.thecoachmarketer.com
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