3 C’s of Online Cash

What does someone have to do to give you money through your online business?  I know this seems simple, but I end up in many meetings and consulting calls talking about why this did or didn’t work… “How come we’re making money today but not yesterday?”  ”Why were sales down?”  What do we have to do to change?

It always comes back to the math.

Think about it, what must someone do before they can give you money?

#1: Click (we could add, call or come in)

#2: Convert: the have to decide to buy

#3: Cart: how much do they decide to buy? What happens as they check out?

 

So we have a fairly simple formula.

 

1- Clicks/Calls

2- Conversions

3- Cart / Check out

 

If you’ll think constantly about those three areas, and work on improving them, your business will always get better.

Gmail ads stocking you?

Evidence that it’s all going to be about behavioral targeting

 

The web is getting smarter…

Every day we go online, shop, open emails, check our facebook status, and do anything at all online we are moving the way the internet functions. It’s becoming, and already is a living breathing thing, and if you don’t start to make the shift from a dynamic responsive environment to a static push – pull environment, then you’ll probably be left behind.

The video above is just one more evidence of that.

There’s plenty of time WE just generally suck at using it…

Why you can’t work at work… I know I may sound like a 37Signals groupie for posting this but they do such a great job at distilling so many things that make so much sense and actually work, I can’t resist.

But before I roll the video, Jacob Paulsen called me up to call me out about the last post.

He said he didn’t believe for a minute that the next post would be funny, or entertaining… So here it goes, if you need something to laugh about watch this, then go be productive and makes something awesome.

(P.S. I actually think the most productive thing about having people work with you is to take breaks together, I’m guessing that if we spent more time watching you tube videos, taking quick breaks to play ping pong or go get something to eat, and then getting back to work and letting each other work on their own, that we’d be more productive.  It’s just a hunch though.)

Now for the comedy of the week:

Now for the seriousness… Why You Can’t Work At Work…

I’m an “Attention Capitalist”

Deep in brain storm and looking at strategic vision with my business this morning, it finally hit me.

The single phrase that distills what I am doing and building into a single simple idea, “attention capitalist.”

I already own the domain www.AttentionCapitalist.com, as well as a few others that are related.

Here’s the basic concept.

I haven’t shared this formula for free with very many people, so to post it publically is new.

The world has gone through several different economic ages, eras or revolutions.  Call them what you will, but each age had a distinct comodity that defined the power and the players of its time. The game we play in life and economics always has been and always will be a game of power, trust, and control.  However, never before in the history of man kind has a society actually lived, operated, and worked looking directly at the actual end goal as the core comodity of it’s time.

We went from the renaissance, to the agricultural era, to the industrial era, in each phase the commodity was different.  In the agricultural era for example, if you wanted to be wealthy you had to get land, and farm it.  In the industrial era, you had to get a factory, and make stuff.  In each era, there was a core commodity and a few players who understood it’s power and how to control it.  Andrew Carnegie controlled the steel in the industrial era and he became wealthy beyond all imagination because it was at the heart of production power at the time.

That comodity today, in the “information age” is attention.

I would argue that we live in the “attention era.”  More than ever before, the number of eye balls you have access to and what those eyeballs are capable of, and how much they trust you determines you wealth, your power, influnce, etc.

The amazing thing about an attention based economy is that it is both dynamic, and decentralized.

Meaning, you’ll never be able to control all of it, or have a complete monopoly, politicians, kings, and rulers have tried for centuries and they alwasy fail.  That an attention economy is dynamic means that it is fluid and ever changing.  Yes there are big players who get it, Google, Facebook, and you tube come to mind, but they are not solely in charge, they are just a part of the puzzle.

This may or may not make sense to you and that’s ok.  If it provokes some thought and you have real interest, I’m very interested in talking to you about it.

Just understand this, never before has the entire value distribution line been so compressed to the point that any product or service’s value is directly tied to the attention it can generate, and the attention it costs to sell it.

I could ramble for a long time about this, but let me share the secret formula.  This may open some ideas for you and make things more real.

This is based on the premise that attention is the core comodity of our time that determines basically everything in the game of value control and value creation. Upon that premise I suppose that an attention asset or an even better way of looking at it is an influence asset, is the core asset class of our time.  The more of these you have, and the more valuable they are will determine your overall wealth, power and ability to create and exchange value in today’s world.

Just like real estate value varies based on many dimensions like location, zoning, quality and size.  There is a simple formula that can be applied to any attention asset that you might acquire or create. Here it is.

V = A (T +Mv)

Value = Attention X (Trust + Monetary value)

And, I’ll just leave it at that.  If that get’s your brain boiling, I want to talk to you.

I promise the next post will be more funny or inspirational, or light, or just a simple way for you to make more money.  But I had to get this one out.

Internet Traffic Assets:

A traffic asset is the ultimate key to an internet business. As a marketer, you ultimately have to stop looking at your self as a marketer, an advertiser, or anything else like that at all. You have to look at your self ultimately as a publisher or broker or controller of internet traffic.

You buy it, and own it or control it at $X, and you sell it or monetize it at $Y.

The longer I’m in this business and the more I watch how things really work the more I realize what it really is that runs the attention economy (which is what our entire world runs on).

Attention is the ultimate comodity of the information age. Controlling it, having it, using it is what makes people rich, give them power, influence and ultimately control.

In the marketing and advertising realm the idea of a traffic asset is pretty simple.

A traffic asset is anything that allows you to control a predictable amount of traffic, AND gives you the ability to change it’s direct as you want to.

Here’s a few of the best and most basic examples:

1- An email list: if you have an email list of 100,000 people who have opted in to receive email from you. At any given moment you can load up an email and hit send, automatically generating clicks, and hopefully monetizing those clicks.

2- This is my most favorite and least talked about or understood traffic asset idea.

A Hyper Tracker URL.

When you have a tracking URL that allows you to direct traffic that is redirected from it to anywhere you want, this is an awesome traffic asset.

When you pair that URL with proven ads, on proven networks, that get proven click through rates, and proven costs per click, you basically have the ability to control traffic. Those redirecting URLs, wether they are linked straight to an ad or to some kind of a landing page, are one of the best traffic assets there are. It’s also one of the easiest to acquire and create.

I know this may have been super jargon heavy and ultra complex sounding but it really doesn’t have to be…. and I wanted to write about it and explain it so I myself could remember it.

Get Out Of The Affiliate Business

Get Out Of The Affiliate Business, the product business and get into the publisher business.

If you’re not ultimately working on the profit per impression, attention economy you’re not working on something that’s yours, something real

If you start measuring and obsessing over eyeball economics, you’ll change your business.

Just sayin..

2 Things You Must Have For Success

The interesting thing about success is, anyone can have it. It depends how you define it, but generally I’d call it a blend of getting your outcomes and achieving stuff, and…

The perception of “being successful,” from the outside in. Which doesn’t really matter, except that it does influence wether or not you think you are successful, and that changes your results, drastically.

THE 2 THINGS:

1- Systems
2- Skills

Systems are everything really. Your habits are systems you install in your subconscious. From more of a tangible business perspective as an entrepreneur in both your business and your personal life your systems will largely determine your success.

Skills:

I think it’s obvious but the critical things that make your life or your business go… that make it succeed, is largely determined by your skills. And skills are learnable.

The first person to teach me that was Brian Tracy, and it was one of the simplest, yet most empowering and important insights I’ve ever been given.

Skills like learning how to make a sale, how to generate a lead, how to write a headline, how to find out what people want, which types of questions to ask in an interview.

The list goes on and on. I’ll make this promise. Everyone you see that has a lot of success, has both of these things in place. They have systems, they are always working on improving, and they’re always acquiring and improving their skills and the skills of the people all around them.

The Secret To Online Advertising Profits

The more I watch myself and other marketers spend more money on marketing in more markets, and see more and more data, the more I see a very distinct and important difference between success and failure. Profits, and losses.

The big difference is what you focus on:

1- Most people focus on figuring out how to get more people to buy
2- The most profitable focus on figuring out how NOT to talk to the people who don’t buy.

One of the best things you can do to increase conversion, is to figure out which categories of people just don’t ever convert, and get rid of them. Don’t spend time, money or effort to reach them.

If you can figure out which people naturally will convert, will naturally buy from you, opt in, etc… and only show ads to them you’ll make a lot more money with a lot less effort.

We’ll be covering more of this in my soon to be released course: www.silentsideofsocialmedia.com

Social Media Networks: Businesses New 3rd Party Ambassador

There’s a constant talk about social media, how it affects business etc. This is going to be a quick rant, or thought blurb about how I see these networks developing in the future.

Today, I was looking a little deeper into Four Square.

If you haven’t heard of it yet, Four Square is an entirely mobile and location driven social network. The funny thing is Foursquare is really built around businesses and places people go to, so it’s becoming a perfect marriage for business.

Anyway, I’m reading their blog and they say: “Thanks American Eagle, Four Square does Times Square.”

And then there were photos of american eagle’s ads featuring the fact that they were “on four square” just like everyone seems to be spending massive amounts of money to tell us, they’re “on twitter” or “we’re on facebook.”

Here’s the deal.

The new paradigm I see with social media in general is as it relates to business (which is the ultimate concern if it will survive) is as the space for objective 3rd party review.

Social is fast becoming the ambassador for businesses by becoming a space to promote the business, but in a way that is just “real” enough that we can trust it.

If you want to start a social network, I am finally seeing the process.

1. Create something intriguing that gives users value, but simultaneously let’s businesses interact with customers and potential customers.

2. Get big brands with big budgets to tell everyone that they are “on _____network.”

3. Figure out how to sell ads and data.

Talk soon,
Andrew

By the way, if you’re interested I’ll soon be releasing a program for business owners called: The Silent Side Of Social Media.

It’s all about the “untalked about” secret profit centers for social, and what you should really be focusing your time and efforts on in the social space today.

If you want updates about it when it comes out, go to: www.SilentSideOfSocialMedia.com

New “Gmail Priority Inbox” Changes Email Marketing Forever…

Before you read or watch anything on this page, I want you to watch google’s new video about their “priority inbox.”

Alright right off the bat you can look at this in many ways. (My personal opinion is that it will be awesome… but only if you are awesome too.

Let’s just make a few observations about this, then I’ll give you a little video showing you how to exploit it…

  • People hate SPAM, and google also hate’s SPAM… (I’m not sure if you noticed, but in the video there’s a message titled “special offer” that is right next to spam)
  • Like I always say and will continue to say, behavioral targeting technology is going to influence almost everything you see online for the indefinite future…
  • Google’s undying obsession (and our demand for it as users) with “user experience” is going to change what you have to do to make email marketing work… if people on your list have gmail.
  • It’s all about from fields and subject lines… watch the video for tips on what to do with it and how to be better…

By the way… This Is All The More Reason To Check Out One Of These Email Courses. They Will Both Help You To Increase Your Open Rates, So More People Read, Click On And Buy From Your Emails… I Have and highly recommend both:

#1: Street Smart Email by Ben Settle: Here’s my link (sometimes there’s a $200 discount using it) www.StreetSmartEmail.com/james

#2: 13 Sneaky Little Email Tricks By Perry Belcher & Ryan Deiss Click Here To Get It Through My Link

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