Academics- before selecting any college we used to read the prospectus and learn about the college, career prospects etc.
JOB – before joining any company we research about the company’s history, vision etc.
Similarly, it is always wise to do a thorough research while establishing an Internet Marketing business too. If taken seriously Internet Marketing has the potential to earn millions for people. A lot of people around the world are living a rich dot com lifestyle already.
When we are just starting out or if we are still struggling and have not been able to decide yet what course should we follow, it is better to accumulate all the knowledge, analyse it and then start with a plan in mind.
SWOT analysis is a better way to analyse the pros and cons of a course of action. It helps to form the plan after accumulating the information with respect to every angle.
For the purpose of analysis, an Internet Marketing business is broadly categorised in
- Affiliate Marketing
- Network Marketing
- CPA offers
- Creation and selling of own products
There are other ways to earn through Internet as well like doing freelancing jobs, Pay per clicks etc. However, I have considered the long term aspect (establishing a business), earn substantial amount of money and building a Passive Income (which I believe is the best way to live life) while creating this report.
I have also included some tips and suggestions which could help you to take decisions.
So let’s read it and check if this information helps us in having a long term perspective of the course of action we are currently following.
SWOT analysis – Affiliate marketing
Tips you can use if you are going for Affiliate marketing
- It is logical to select several affiliate offers instead of depending only on single affiliate Income source. This way, if one offer does not turn out to be in your favor, for whatever reason, you have other offers to earn from.
- You should also do a thorough research about the company before getting associated – about quality & value of product, payplan, reputation etc. A cautious selection could save a lot of troubles in future.
The one from few for which I do affiliate promotions is Adzbuzz (affiliate link). It is a company registered in London, England. It has many platforms including a social network. A number of platforms means tonnes of things a person could be interested in. It also has a global affiliate program which means if you get a referral for one of the platform, they will be your referral for all of the platforms and more importantly for life.
SWOT analysis – Network marketing
Tips you can use if you are going for Network marketing
- If you act a little witty, selection of a consumable product/service instead of products which are occasionally purchased, is an appropriate choice as it creates repeat orders, hence you get a continuous inflow of money. This will create Passive stream of income.
- In Network Marketing, it is important that team earns for you to earn. Hence, you would be at better position if you adopt the practice of advertising your team members’ links and teaching the same to the team. When team members earn they stay and work with full force, increasing your income all the way.
SWOT analysis – Blogging
Tips you can use if you are going for Blogging
- Earning money from the blog requires tactically monetising the website. Follow top bloggers to learn how they are monetising, what offers they are promoting, what places they are using. It’s a good step to learn from their experience.
- If you are one of those people who lack ideas to run a blog, one tip is to analyse the needs of people and try to solve those problems with your articles. Plus provide something unique and valuable in your contents, this is something people value.
- I frequently emphasise at several places in my work, to give equal importance to designing your website (design forms an important element in building a brand name). Use professional themes and appropriate plugins. For me designing and content share a 1:1 ratio.
- Keep a check on your websites load time and performance. Evaluate your hosting company and your hosting plan for convenience of your visitors. When your visitors are happy, they will make you happy.
SWOT analysis – Own Products
Tips you can use if you are going for dealing in Own Products
Spend some time in the industry gaining understanding and increasing the knowledge before creating your own product. Build your list first, build relations with them and build your credibility which will make it easy to market your own product. That would multiply the speed of success in selling own products / services.
SWOT analysis – CPA offers
Tips you can use if you are going for CPA Offers
Refer reviews of the particular CPA network before proceeding. Additionally, if you are really interested in CPA marketing you may find this article useful.
Internet Marketing is a business and it requires few basic traits like in any other business, to succeed. These traits include among other things
- Judicious investment of time and money
- Consistency in efforts
- Change in plan in accordance with the market conditions
- Future perspective, a vision
The last one (future perspective) is very important as there is hardly any business that pays overnight. Keeping in mind this trait, SWOT analysis is important because if you are on right track from the start, the struggling period minimises and you achieve your targets sooner.
So, how to use this report?
Take one category at a time. Read its SWOT analysis, multiple times then judge what suits you. Whether you’re OK with its weakness / threats, whether you can make use of its strength / opportunities. If you need more information do make use of search engines and make notes, contact other marketers. It’s important to stay on one course until you start seeing results rather than jumping from one opportunity to another and for that to happen you need to have sufficient knowledge, especially at the start.
I hope this extensive research along with your own experience helps you take a proper and better decision. This research is by no means exhaustive and so there may be other factors too which can influence your decision. However, this research does help to take a decision which could prove profitable and life changing in due time.
If you have any other points in mind that you think I should cover in my report, do tell me. If you have any feedback for me, you are welcome to provide in the comment section.
Wish you luck!