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My_Vision_of_Multiple_Streams_of_Income_Part_2
| My Vision of Multiple Streams of Income, Part 2
Copyright 2005 Peter Dobler
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, that’s great. But until you’ve reached a certain
level of visibility, you need run your promotions around the
clock. I’m 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 won’t 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 don’t have
an answer for this. For me it means whatever I’m comfortable
with. Because you’re building residual income and you’re 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 SFI’s 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. It’s worth every
penny of your monthly fees.
Speaking about value-added services and benefits. The one thing
I’m 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. I’m 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
I’m still a little bit negative with my finances, but this is
due to my extensive Google AdWords campaigns. By not counting
this, I’m 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.
About the author:
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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