Here are some common lies that are being promoted on the internet. Do you believe this internal dialogue?
“The best marketing plan for my business is one that gets me lots of followers on Facebook”
“The best marketing plan for my business is one that brings me traffic.”
Okay. That’s a good start. Let’s go on.
“The Best Marketing plan for my business is one that actually makes me sales, already!!
…you’re getting warm…
“The Best Marketing plan for my business is one the makes me Money, for crying out loud!
Partially true…read on…
The Best Marketing plan for my business is the one that actually makes me a profit…
…you’re almost there…
If you get lots of people who:
- like your product,
- follow you on Facebook, Twitter Instagram…everything
- and who visit your website
and who even buy from you
what you spend in:
and other expenses—-if those expenses are deducted, and they actually DO bring you a profit, then you still have some math to do…because…
it really isn’t profit if your time isn’t paid for.
So. Let’s say that you make 25,000 a year in PURE PROFIT.
Let me ask you something….is the time you invested in making that money worth more than minimum wage? Because, if it is, then you didn’t even make that.
See, a lot of marketers are very good at bookkeeping, but they live in this carrot-on-the stick fantasy world.
They may not measure their success (like so many marketers do) in terms of social media activity, traffic or even sales, because they have been around the block, so to speak, and they have learned that it isn’t what you make, it’s what you keep (after buying leads, paying for ads, etceters.)
But one thing that almost every marketer struggles with is putting value on their time.
A lot of marketers are retired, on disablility, or just self-employed. So they don’t figure in the value of their time, because they just think, I’m not doing anything else with my time right now.
But time always has value, no matter how much of it you think that you have.
We would never hear of someone underselling their product because they have too much money on their hands. Yet marketers consistently undersell their product because they don’t factor in the value of their time, when they go to price their product.
You need to see the value of your time the way that a physical shop owner would price his “overhead”. You may not have the mortgage, lights and gas to pay on a separate building, you may not have inventory to account for, but you can be sure, if you are an internet marketer, you spend plenty time on your business each week.
And what a lot of marketers fail to do is to track the time they actually spend on their business, not taking into account basic things like creating a post, checking their stats, ect. All of these tasks are YOUR TIME that you are INVESTING in your business. You need to account for that when you figure out your profit margin.