My Vision of Multiple Streams of Income, Part 2
by Peter Dobler
Published on this site: June 29th, 2005 - See
more articles from this month...
A while back I wrote a little article called My Vision of
Multiple Streams of Income. After receiving several emails
asking for a sequel and sharing more real life experience I decided
to give an update on my journey with SFI and Stone Evans PIPS
system.
As I mentioned in my last article I went off a good start with
this system and I honestly can attest it really works. The only
negative thing is, if you want to call it this way, that I put a
lot of effort into this project. The system is designed to run on
autopilot, thats great. But until youve reached a certain
level of visibility, you need run your promotions around the clock.
Im almost there.
As an example: I run several Google AdWords campaigns to promote
my website and SFI. The reason for this is simple. This is a highly
competitive market and achieving high rankings with the major search
engines takes a long time and due to the rough competition you wont
be able to reach the top without a few backdoor tricks.
So I took the route of actually spending some advertising money
and in return I have a wide spread exposure. Remember the baseball
movie with Kevin Kostner Field of Dreams with the famous
remark If you build it they will come? Unfortunately
this is no longer true for the internet.
Back to the topic of controlling the advertising cost with Google
AdWords. I closely track my expenses and I keep a lit on it if it
gets too high.
The tricky part is to decide when it is too high. I dont
have an answer for this. For me it means whatever Im comfortable
with. Because youre building residual income and youre
not aiming for a single sale. This is hard to gauge. Conversion
rates are useless, although my conversion rate so far is over 20%.
That is pretty good from what I read about this topic. What this
number means in subsequent income has to be determined.
I also tapped into the extensive library of SFIs partner
IAHBE. At first I just joined this organization because it guarantees
my position in the SFI network. But after researching their services
and utilizing their benefits like free mail leads, I have to say
that this is a great institution. Its worth every penny of your monthly fees.
Speaking about value-added services and benefits. The one thing
Im truly impressed with is the quality and consistency of
the marketing material offered by SFI. The wealth of online and
offline marketing material can be overwhelming, but if you use it
appropriate it is a very effective tool. Of course SFI also offers quality products and services,
which makes it easy to sell.
By using Stone Evans PIPS (Plugin Profit Site) system I could
maximize these efforts. Im selling all sorts of products and
I already received several commission checks through my affiliate
program with Clickbank. This is a huge affiliate provider for electronic
books and software. My job is to attract customers to the products
and then the manufacturer or author of the product does all the
selling and credit card processing. As soon as the credit card is
processed I receive a commission, which varies between products.
After about 3 months of running this business I would say that
Im still a little bit negative with my finances, but this
is due to my extensive Google AdWords campaigns. By not counting
this, Im actually making some money. Nothing to brag about,
but maybe in another 3 months my tune might change.
Please send me an email if you like to hear an update more often.
Peter Dobler is a 20+ year veteran in the IT business. He
is an active Real Estate Investor and a successful Internet business
owner.
http://www.mypluginhomebiz.com
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