Erich Stauffer

Tag: Internet Marketing

  • My Media Heroes

    I’d like to share who some of my heroes and inspirations in the publishing business (bloggers, media moguls, and Internet marketers) have been and are:

    • Nick Denton: President and founder of Gawker Media, an online publishing group which puts out titles such as Gawker, Gizmodo and Lifehacker. Nick has been involved in internet media since 1996, first writing on the subject for the Financial Times of London, and then founding two companies in the late 1990s. First Tuesday, an internet-era events business with branches in 80 cities, was sold in 2000. Moreover Technologies, which is headquartered in London, provides news search technology to Fortune 500 companies and portals such as MSN. After graduating from Oxford University, Nick began his career as a foreign correspondent for the FT during the revolutions in eastern Europe. Later, while investment banking correspondent, he co-authored All That Glitters, the definitive account of the collapse of Barings Bank.
    • J. Michael Arrington: Founder and co-editor of TechCrunch, a blog covering the Silicon Valley technology start-up communities and the wider technology field in USA and elsewhere. Magazines such as Wired and Forbes have named Arrington one of the most powerful people on the Internet. In 2008, he was selected by TIME Magazine as one of the most influential people in the world. Wired magazine also included him in a flowchart of “internet blowhards” citing his obsession with “Web 2.0”.
    • Walt Disney: During a 43-year Hollywood career, which spanned the development of the motion picture medium as a modern American art, Walter Elias Disney, a modern Aesop, established himself and his product as a genuine part of Americana. David Low, the late British political cartoonist, called Disney “the most significant figure in graphic arts since Leonardo DaVinci.” A pioneer and innovator, and the possessor of one of the most fertile imaginations the world has ever known, Walt Disney, along with members of his staff, received more than 950 honors and citations from every nation in the world, including 48 Academy Awards and 7 Emmys in his lifetime. Walt Disney’s personal awards included honorary degrees from Harvard, Yale, the University of Southern California and UCLA; the Presidential Medal of Freedom; France’s Legion of Honor and Officer d’Academie decorations; Thailand’s Order of the Crown; Brazil’s Order of the Southern Cross; Mexico’s Order of the Aztec Eagle; and the Showman of the World Award from the National Association of Theatre Owners.
    • Rupert Murdoch: An Australian-born American media magnate and the founder, chairman, and chief executive officer of News Corporation, often called News Corp. Beginning with one newspaper in Adelaide, Murdoch acquired and started other publications in his native Australia before expanding News Corp. into the United Kingdom, United States and Asian media markets. Although it was in Australia in the late 1950s that he first dabbled in television, he later sold these assets, and News Corp.’s Australian current media interests (still mainly in print) are restricted by cross-media ownership rules. Murdoch’s first permanent foray into TV was in the UK, where he created Sky Television in 1989. In the 2000s, he became a leading investor in satellite television, the film industry and the Internet.  Murdoch and News Corp now own MySpace, Fox, and the Wall Street Journal.
    • Alan Webber: An award-winning, nationally-recognized editor, author and columnist, he launched Fast Company, the fastest growing, most successful business magazine in history and winner of two national magazine awards, one for excellence and one for design. He was named Adweek’s Editor of the Year in 1999, along with co-founding editor William Taylor. Webber understands the important characteristics of a “fast company”: the ongoing competition for the best people, for great ideas, and for the right way to think about leadership.
    • Biz Stone: Co-founder, Twitter Inc. Stone helped found things besides Twitter: Xanga, Blogger and Odeo. He worked for Google with Blogger. He once won a debate at Oxford Union.
    • Mark Elliot Zuckerberg: An American entrepreneur best-known for co-founding the popular social networking site Facebook with fellow Harvard classmates, Dustin Moskovitz, Eduardo Saverin, and Chris Hughes where Zuckerburg is now CEO. He is currently one of the youngest billionaires in the world with personal wealth of US$4 billion in 2010 due to his 24% share of Facebook.
    • Matt Mullenweg: The founding developer of WordPress, the blogging software that runs much of this site and millions of other sites around the world. He wrote the foreword to WordPress for Dummies and the French WordPress book. Matt worked at CNET Networks, but left in 2005 to found Automattic, which is the company behind WordPress.com, Akismet, Gravatar, bbPress, IntenseDebate, and BuddyPress. Matt is or has been an adviser to Sphere, WeGame, Rescuetime, and Foodzie.

  • Traffic + Conversion = $

    I’d like to propose an equation that I believe is a new way forward: Traffic + Conversion = $

    If you’re still interested, keep reading.  I have written this guide based on things that I have learned over the last couple of months.

    Using proven, repeatable techniques there is little risk and great rewards involved in marketing products for profit.  Much work has already been done for us in the form of processes and software tools.

    There are two key phases to this process:

    Research and Analysis – Identify a micro-niche inside a penetrable market that has profitable products that people are already selling.
    Marketing and Testing – Promote the products and test the results.  If the traffic and/or conversions do not meet thresholds in a given time, start over.

    The rate of success with this method is anywhere between 1 in 6 to 1 in 10 and marketing and testing can take anywhere from 1 to 30 days.  Success is defined as more money coming in than is going out each month and that includes all opportunity costs (time that could have been spent making money in other activities).  Tracking is critical not only with the data of the results, but with the finances and time spent.  If you are comfortable with this, keep reading.

    Metrics and Rules of Phase ! – Research and Analysis

    Micro-niches are identified as the #1 keyword receiving at least 80 clicks per day and websites containing that keyword being less than 30,000 globally.

    At least 3 keywords other keywords within the micro-niche with similar criteria must also be identified, if not, start over.

    Top-10 competition for the top 4 keywords has to be penetrable within the time allowed.  Metrics to consider are:

    • Domain age
    • # of back-links to domain
    • # of back-links to page mentioning the keyword
    • # of back-links from .gov or .edu domains
    • Exists in Yahoo! Directory?
    • Exists in BOTW (Best of the Web) Directory?
    • Exists in DMOZ (ODP) Directory?
    If the competition has a young domain age, a low number of back-links, and does not exist in any of these directories, then the market is penetrable.  If the opposite is true, stop and start over.

    Check to see that related products are both available to be sold and are being sold by others.  If either is not true, stop and start over.

    If both of those tests pass, then make sure the products are giving a referral amount that you deem acceptable.  If not, stop and start over.

    (All of the above can be done using the Market Samurai tool semi-automatically, but can also be done manually.)

    You now have products in a penetrable micro-niche that are profitable to sell.  Move on to Phase II – Marketing and Testing.

    Phase II – Marketing and Testing

    Begin by setting up a place to place your products.  This is where your marketing efforts will point back to.  It can be a Squidoo page, a Blogspot Blog, or WordPress running on your own domain.

    If you are using Blogspot or WordPress, install Google Analytics to track traffic.  If using Squidoo, there are tracking mechanisms built into the site.

    Once you have a place to put your products, begin writing copy for the site.  You will need to write the following:

    • About Us page – use keywords and talk about the product
    • Ad copy for the products – if using Market Samurai, there are built-in features for helping with this, but you can do it manually too
    • Create posts about the keyword subject matter within the micro-niche

    Next, begin to create back-links to your site by placing links to the domain, the blog posts, and the the product pages on social bookmarking, social media, and in blog comments in your related market.  Be sure to add links from .edu and .gov domains. You can search Google specifically for blogs on those domains manually, but you can do this semi-automatically with Market Samurai too.
    Track the incoming page hits.  Testing for viability can begin only after your product’s page is receiving at least 200 hits per day.  If you are not getting 200 hits per day, then try these things first:

    • Increase the number of blog posts on and off the site using other services like hubpages and squidoo – then promote all of the new posts again
    • Make sure you are promoting on at least 30 different sites for each post – you can use services like ping.fm or trafficbug to assist with this task
    • Pay to have your site listed in the Yahoo! Directory
    • Pay for Google Adwords or Bing (Microsoft) AdCenter
    • Add pictures with descriptive text to get hits from search engine’s image searches
    • Add video to Youtube with links and comment on other videos in your micro-niche
    • Make sure you are posting to Twitter and Facebook regularly and engaging in conversation, not just promoting

    If after 30 days or at your own set threshold, you are still not receiving 200 hits or more per day, your product is not viable.  Quit and start over.  You have just found one of your 6 to 10 failures.
    If you do have over 200 hits per day, but are not getting conversions, first try changing out your ad copy, images of the products, and/or placement of the two on the page.  Refer to Dan Kennedy’s sales letter technique.
    If after changing all three of these variables and still your conversion rate (revenue) is below your expenses, then start over.  If not, you have a profitable business.  Consider selling it for ten times it’s worth and starting over.

    References:

    The Thirty Day Challenge
    http://www.thirtydaychallenge.com/

    The Immediate Edge
    http://www.immediateedge.com/

    The Back of the Napkin: Solving Problems and Selling Ideas with Pictures
    http://www.amazon.com/Back-Napkin-Solving-Problems-Pictures/dp/1591841992

    Turn $150 into $15,000 in 30 Days
    http://www.15kchallenge.com/blog/

    How to Make Money From Your Blog (61 page PDF printout attached)
    http://www.stevepavlina.com/blog/2006/05/how-to-make-money-from-your-blog/

    Insiders Circle
    http://dankennedy.com/

  • Strengths and Streams: Part II

    Identifying Strengths and Revenue Streams: Part II

    This is part II of the post Identifying Strengths and Revenue Streams.

    How you can brainstorm to find your “strengths and streams.”

    “Strengths” are the opposite of weaknesses.  Weaknesses make you feel weak, whereas strengths make you feel strong.  “Streams” refers to revenue streams, which is any and all the ways in which you can or have made money in the past.  Brainstorming is the act of recording as many different ideas as possible in a short time without criticizing them as you go.  Save the criticizing (analysis) for after the brainstorming session.  Sometimes bad ideas can help you think of good ideas, so write down any idea that comes to you during this time.  Ready? Here we go. Answer the following questions in order to help you identify your “strengths and streams”:

    Strengths Test – 10 Questions

    1. What makes you feel strong?
    2. What makes you feel weak?
    3. What activities are you not just good at, but also feel good doing?
    4. What revenue streams do you have, no matter how large or small?
    5. What are some ways you have made money in the past, which you no longer do?
    6. What are some areas or ideas of things you have thought of doing, but for one reason or another never got around to doing?
    7. Have you noticed any changes in technology lately that would make something easier for someone to do something?
    8. Have you noticed a change in the demographics around where you live that might open a possibility for a new product or service?
    9. Have you noticed any “cuckoos in the nest” where something that wasn’t supposed to happen did, or something was an unexpected success?
    10. Have you noticed any examples of something that was supposed to succeed, but didn’t? What could you do to adapt to this new reality?

    When I was young I used to collect aluminum cans to recycle for money.  As I got older I collected antiques to resell.  Later on I bought books to resell online or through local book dealers.  These were all retail activities which involved both labor and a product.  Eventually I started trading labor for revenue, which is called service.  I began doing computer repair and web design.  Eventually people began paying me for my advice and I became a business analyst.  Internet marketing is a mix of product and service because you are using your labor to help sell a product that you yourself do not deliver.  The service is in the promotion, marketing, and advertising of the product.  Anyone can do this using the free tools like the Thirty Day Challenge and other websites like Managing Actions which teach you how to be more effective by first changing how you think, in order to change how you act.

    Limiting Factors

    In order to be successful, you’ll need to overcome obstacles.  The first obstacle you’ll face is your own limiting thoughts so you’ll need to know how to deal with those right away.  An example of a negative thought is, “I can’t raise $8,000 to $10,000 in 2 to 4 weeks.  That’s impossible.” The first step is to realize that you are having a limiting thought, acknowledge it, then let it go.  Just because your brain creates a thought, doesn’t make it true.  Learn to manage your thoughts in order to manage your actions.

    The second factor is the people you associate with.  In the same way that you have a greater chance of smoking if you live or hang around smokers or that you have a greater chance of gaining weight if the person or people you live with or work around are already overweight, if the people you hang around or not successful, are not following their dreams, or do not have multiple streams of income, then they are a limiting factor.  If you want to change, then you’ll need to spend less time with these people.

    Next Steps

    Every meeting should have two things: minutes and action items.  We have just had a meeting here.  This article is our minutes.  The action items are as follows:

    Erich: use all available tools and resources to build and promote the identified websites in order to profit from Internet Marketing.

    You: take some time to define the problems you are having, where you want to go, and what you want to accomplish, this will become your goal.

    Erich: measure the success or failure of the Internet Marketing campaign, determined by the metric, revenue per man-hour.

    You: brainstorm to identify your “strengths and streams” – find what makes you strong and what makes you weak, then write down all forms of income past and present.

    Erich: update the personal finance measurements with increased net worth, revenue, profit, and savings from the Internet Marketing campaign.

    You: manage your thoughts in order to better manage your actions. Notice when you are having a limiting thought, acknowledge it, then let it go.

    Summary


    This is not a get rich quick scheme.  This is about how to set a goal, make a plan, and execute (ready, aim, fire).  There is no “thing” that can make you rich, if that is your goal.  There is only you.  Mitch Hedberg said it best when he joked, “I bought a jump rope — but man, that thing’s just a rope. You have to do the jump part yourself.” [Thanks, Johnny] No blog, no self-help book, and no business can help you succeed more than a determination and drive within yourself.  If that is missing, everything else is just a rope.

  • Analyzing Actions

    youtube-diggI decided to do a little research on how this blog was doing.  I went to Google Analytics, which records data on what keywords visitors use to find this site and exported the data into Microsoft Excel.  Data has a funny way of changing your realities from what your gut thinks to actual reality.  What we intended this blog to be about can be summed up in one sentence:

    Thoughts lead to actions and actions lead to results, so to change your results, you must first change your thoughts.

    This meant that Zac and I wrote mostly about thoughts, actions, analyzing the way you feel and think – basically changing the insides in order to affect the outsides, the results, in order to achieve success.  What the analysis told me is that even though we are writing about all that, most visitors only care about one of two things, “How to Delete a Digg Submission,” and “Youtube Query String Parameters.”

    Both of these subjects, or posts, are in the “Programming” category, which, out of all the categories (Actions, Economics, Entrepreneurship, Job Hunting, Life, LOST, Management, Marketing, Pop Culture, Small Business, Startups, Success, and Technology), Technology is probably the only one that is remotely close to being like it.  All the others, besides LOST, are mostly homogeneous.  So what we really have here is a kind of identity crises.  It’s a question of who we are.  It’s also an opportunity to innovate and make some changes.

    Blog Analysis

    Most popular posts and keywords are just one metric of the success or current state of a blog.  For each keyword there are, “Pages per Visit, Average Time on Site, Percent New Visits, and Bounce Rate.”  For example, the keyword which resulted in the most page views was, “youtube embed querystring parameters,” at 17 pages, whereas the keyword resulting in the lowest bounce rate, “creative avoidance,”at 42% also had 3 more page views per visit.  This tells me that out of all Managing Actions blog posts, the most popular post that also captures the essence of this blog, “manage your thoughts in order to manage your actions”, is “Creative Avoidance,” by Zac.

    I recommend breaking the “Programming” category off into its own blog and focusing on “Creative Avoidance“-type subjects along with the other popular trends in this category, “Purpose,” “Actions,” and “Confidence.” [Update: I have since started blogging about query string parameters (1,2) and how to stay alert. 9/15/2009]

    If you would like an analysis done on your blog or help with Internet marketing, please use the comment box below to leave your name and email address and we will contact you shortly.  Thank you for visiting Managing Actions – and may your thoughts lead to action!

  • 10 Ways Twitter Will Change American Small Business Forever

    1. Ultra-Local Marketing – direct communication between business owners and their local markets allows for business large and small to add a personal touch and an heir of transparency to give them a human edge in an increasingly no-touch technology world awash with noise.
    2. Networking Old-World Advertising – the still-successful outdoor advertising and television commercials are now being used in conjunction with Twitter to give businesses more ROI and feedback on ad placements and their effectiveness. Even without tie-ins, searches for responses on Twitter can sometimes be just as revealing.
    3. Uprooting Wall Street – think of the “Mad Money Effect” on steroids.  When people start talking about a stock and that it should be bought, it gets bought, and conversely, talk about selling leads to selling.  This is a kind of self-fulfilling prophecy, but nevertheless is an effect of Twitter on business stocks.
    4. Making Blogs Relevant – blogs entered the scene in a huge way a few years back, but have since become mainstream and a bit of a victim of their own success.  Because of the ease of making blogs, their overall saturation is high and readership has suffered.  Enter Twitter: hyper-focused followings with links to blog posts of interests have made blogs more powerful than ever before.  Call it the SEO effect or not – Twitter is shaping how blogs are viewed as a resource around the world.
    5. New Ways to Gather Data – never before has there been a literal tap into the stream of consciousness as there is on Twitter.  A quick search on Twitter’s real-time search engine at http://search.twitter.com reveals whatever anyone was last thinking.  Businesses have an amazingly powerful research tool like never before.
    6. Helps TV, Radio, and Print Interact – when you see CNN co-anchoring Twitter side-by-side with the host of the show, you know Twitter has hit mainstream.  Twitter allows live television shows,  radio stations, and magazines get feedback on what they are doing, know what people think, and how they feel.
    7. Channeling Micropayments – Twitpay and services like it facilitate small loans or payments to companies or between individuals  and will extend the reach of operations like eBay’s (EBAY) PayPal. eBay, Amazon (AMZN) and other e-commerce companies will get a financial benefit from real-time micropayments.
    8. Changing Telecommunications – Telecom companies have chosen to manage user behavior by forcing customers to transfer voice, video and data on platforms that they can track. Twitter will force telecoms into a position similar to the one cable companies find themselves in.
    9. Government Interaction – Large government agencies will quickly realize that Twitter may be one of the single best ways to communicate with the public and may even mandate that Twitter participate in some programs to distribute emergency notices to citizens quickly like with the Emergency Broadcast System that was used to reach the public over radio and TV starting in 1963.
    10. Enhancing Charity – The Internet and the major products set up to use it are changing at a remarkable speed, permanently altering the way we live. Twitter could have as large a role in this transformation as Google and Facebook have had in the past decade.

  • How to Delete a Digg Submission

    The short answer is, you can’t.  According to Digg.com:

    We are able to edit submission titles, categories & descriptions. Contact us from the email address associated with your username and include the Digg.com URL of the submission as well as the changes you’d like to make.

    However, as stated in the section 6 of the Terms of Use, we don’t delete content unless it is in violation of our Terms of Use. Please note that un-Digging a story removes it from your profile, but not from Digg.com. Additionally, we can’t switch a submission’s thumbnail for you, but we can remove it if you’d like.

    So what are your options?

    1. Undigg it. This is irreversible. You can’t redigg something you’ve undug. This is the weakest option.
    2. Bury it. This pushes it down, but it can be promoted by someone else’s digg. Again, nothing permanent.
    3. Narc it. Turn it in for violating something in their Terms of Use.  That should be easy enough as it has many, many rules.

    Note that everything you post becomes public domain under the Creative Commons license.  This means it is not your own, other than you being one member of the public.  So, when you post things to Digg, just be aware of the long-term implications.  Post wisely!

    More > Learn what query string parameters mean.