A quick question to start: If you put $1 into a machine and get $1 out, how much will you put in?
For a long time as I learn from school, parents, TV…. $1 in and $1 out it is not a good investment, because you don’t gain any profit.
But now days with internet it is an million dollar situation!
The Profit
If we going to do an investment, an business… mostly we would like to have a profit can take. Back with the question, how much would you put in?
For me I would put in as long as it remain or higher than $1 outcome. In the online marketing world.
This question has a bit tricky, but I would like to share with you it is an million dollar situation with this question. First if this saturation happened in different area, I am not sure is it still a good deal. But in online marketing it is.
Because the key point is the outcome(profit).
It can really depend on what is the outcome and how we can leverage it, to determent it is worth it. Without internet or many local shop still doing this thing like, input $1 for marketing, trying to have more customer to the shop and looking a greater result on the revenue. (The finally outcome they want)
But here I would like ask a question: what is the actual money for a business/ shop?
Internet Marketing
(I don’t have a better word to describe it but I wish I could). The biggest actual money for a business/ shop is customer. More accurate is potential customer that business can convert into buying customer.
So the main outcome a business looking for should be target customer(in online marketing we call it lead).
Maybe you agree this, but still don’t get why it is million dollar saturation.
Here is the breakthrough point.
For $1 marketing fee most business want it turn to a paying customer. It is a one time conversion. But what if that $1 turn into some customer that business can connect for a life time?
How many time of conversion it could be?
The Million Situation
Here let me break it down how can it work, why it is the million situation.
For that $1 to turn into a life time connectable customer, so it mean you can sell/ resell the same over and over many times. Means if you don’t have this, you will need to keep paying to get a customer to connect with.
It is every business should have, a list.
The list
Having a list could let you able to connect customer without spending extra marketing cost. To build the list of target customer, on the internet mostly we do is use lead magnet.
Something customer would like to have and the feel valuable to exchange their contact, mostly email address.
Also it mostly is some kind of information, because the cost can be low to zero for business.
Once business have the list of email address(contact), from this point forward. Basically it is pure profit.
Because business can connect, promote, resell, upsell… for free. No more marketing cost and the list is related/ interest with the product of the business, it is more an easy sell.
Now you should know why it is a million dollar situation.
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I wish this information can give you some value, all this kind of ways, skill and the method to implement. I learn it through different online resources.
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Welcome to connect if you have any question.
Original Blog From Adam Shum
