Income Producing Activities (High Value & Impact Tasks) for Online Business Owners
No time? No Problem!
If you're looking for a Cheat Sheet of the Revenue Producing Activities and High Impact Tasks, simply
The Income Producing Tasks Cheat Sheet (PDF) is included!
We don’t want to waste any time, so the question is:
What actions really put money into your pockets as online business owners and affiliate marketers? What tasks drive revenue and truly add to our bottom line?
First, let’s put things into perspective:
How Does Any Business Generate Revenue?
Simple: By making sales.
Any business has to sell products and/or services to people in order to generate revenue.
Nothing happens until someone sells something.
So the question becomes:
How To Generate Sales With An Online Business?
It’s a simple two step process:
- Getting the attention of a potential customer.
- Selling him/her your products or services.
I go into way more detail into both core concepts in my Online Business Blueprint (PDF). You can download it for free here.
In online marketing lingo we say traffic and conversion.
It Comes Down To: Making This Simple Process Economically Work
What’s the simple process again?
- Getting eyeballs on your content (the traffic / “getting the attention”-part)
- Building respect, trust and rapport with the potential prospect by providing lots of value and expert positioning
- Making the sale (the conversion / “making the sale”-part)
What does it mean to make this economically work?
It simply means: Making a profit.
Or in different words: You pay less for the client attraction (getting the attention) than you make back from those people. (customer lifetime value / LTV)
The Most Common Newbie Mistake
Most beginning entrepreneurs make the mistake of trying to be profitable after the first sale. (front-end product)
But we want to build a true business here, not some short-lived gimmick, right?
Turn Pro: Build Honest And Valuable Relationships
If you focus on developing a great relationship with your clients (plus having a powerful back-end product/service line in your funnel, that actually produces results for your clients), you can spend significantly more money on the client attraction part and still be profitable. (long-term/back-end approach of doing business)
So let’s focus on providing value and building true relationships.
Building Rapport With Potential Clients
The “building trust and rapport”-part is often referred to as KLT or RTR:
KLT: The potential customer has to Know, Like and Trust you.
RTR: You have to work on creating Respect, Trust and Rapport with him.
As an affiliate marketer, you don’t really make the sale but instead prepare it. You prepare the sale by providing value first, educating your potential client, position yourself as the expert authority in your chosen niche and then making an honest recommendation.
That’s why above statements (KLT/RTR) remain highly important, because in order to successfully make a recommendation for a product or service, the potential client has to know, like and trust you first.
If you try to force things too much, you come across as a sleazy salesperson; think used-car salesman. You might make an occasional sale, but it’s neither fun nor very efficient…
So What Can We Specifically Do? What Actions Truly Add To Our Bottom Line?
Now that we know we have to make and prepare sales, we know we have to work on:
- Getting more people to get to know us and see what we have to offer (generating more traffic)
- Building a stronger, more trustworthy relationship with them by providing more value so more interested poeple buy from us (conversion rate optimization)
- Offering higher value, higher quality and ultimately better results producing offers in front of them (increasing client’s LTV)
First, we have to learn these activities and acquire the necessary skills to be able to perform these, then we have to consistently apply them to constantly add to our bottom line.
Please read the last sentence again, it’s the key.
Simple as that. Let’s look at these activities in more detail:
How Can We Generate More Traffic?
Here’s two ways to look at this:
First, you can figure out where your audience / ideal clients hang around and spend time online.
This could be social media networks, forums, FB groups, YouTube or performing searches on search engines, but it could also be something entirely different and not mentioned here.
Second, you could take a look at the most visited locations online and try to get your message in front of the right people there.To give you an idea, check out the top 500 sites on the web according to Alexa.
Traffic Generating Activities
- Paid Traffic / Media Buying / Advertising
- PPC Campaigns (Google / Bing / FB / …)
- Coming up with new angles
- Adding Ad Groups
- Adding Keywords
- Adding Ad Creatives
- Testing and Optimizing
- Display / Banner Ads
- Native Ads
- Sponsoring Posts / Advertorials
- Social Media Marketing
- Joint Venture Projects (JVs)
- “Free” Traffic Generation / Organic Traffic / SEO
- Building websites
- Keyword research
- Adding content (Coming up with new angles / categories / infographics / videos / …)
- Revamping old content
- Content Marketing on 3rd Party Platforms
- Video marketing on YouTube
- Publishing articles on Medium or LinkedIn
- Guest posting on blogs, magazines, …
- Providing value on discussion boards, forums, facebook groups, reddit, answering questions on quora, participating in highly-targeted, niche-related websites, …
Conversion Optimization Tasks
- Email Marketing
- Creating new, high quality but easy to consume lead magnets
- Adding new, dedicated opt-ins / squeeze pages
- Providing more value by adding new emails
- Testing and optimizing (working on subject lines, optimizing open- and click rates)
- Working on Your Offers
- Creating new offers, finding new and better ways of solving problems for your clients
- Working on your USP
- Improving and completing existing offers
- Finding or developing new, excellent products / services (ebooks, courses, training programs, membership sites, saas products, …)
- Improving the Copy on your website and documents
- Generally speaking: Coming up with new and better ways to help improve the lives of your target market and getting RESULTS for your clients
I hope you find this resource helpful.
Bookmark this site and get back to it anytime you’re stuck or run out of ideas of how to improve your online business.
Thanks for reading and stay awesome,
Your Online Business Dude
PS: Oh, and make sure to download my free Online Business Blueprint (PDF).