What could be more thrilling than the prospect of earning a steady and good income from the comforts of one’s home! And like the many proponents of internet marketing say “to be your own boss”. No wonder, nowadays people seem to be jumping on to the internet marketing bandwagon faster than they could be accommodated. A typical search query in Google with the keyphrase “how to earn money from home” yields hundreds of pages throwing light on the ways to monetise our online activities by blogging or starting an e-commerce venture.
Just as many people are entering this low-entry barrier market today, the failure rate of this seemingly simple business is also on the rise. In fact, they say only 5% of all start-ups succeed and this statistic is not so reassuring. Some myths are commonly associated with internet marketing, and it’s time we examine the inherent flaws behind these popular myths.
#1: There’s no start-up capital needed
This is one myth that makes internet marketing so alluring to many aspiring entrepreneurs. Internet marketing does not require a sizeable capital investment for start-up unlike a regular brick-and-mortar business, but still it does need some expenditure. You need to make some capital investment so that your business has the foundation it needs during the period of latency before the take-off. Domain name registration, website hosting, website development (if you plan to get it created by professional designers), e-commerce platform, marketing/advertising all require money. There’s no such thing as a free lunch. Even though many “free” services are available on the internet that include free domain registration and website hosting, most of these come with a common rider to deal with – upgrade to the paid version for full features and benefits.
#2: Internet marketing is easy
Probably the biggest myth, and exploited to the hilt by scammers to dupe gullible people on the get-rich-overnight schemes, the idea that internet marketing is easy cannot be further from the truth. Internet marketing takes time to learn and is not entirely a zero-investment venture. Sure, internet marketing is relatively easy compared to the traditional brick-and-mortar business but a lot of effort goes into making it successful. Creating a website is simple but making it user-friendly, writing engaging posts, getting pages ranked, driving traffic, creating business leads, making conversions and keeping the content relevant all the time are all challenging in their own ways.
#3: You become successful if you have the passion
We are always told by the experts and the internet gurus that having a passion in any niche is enough for success. Well, absolutely not. True, passion in a particular area of interest is the fountainhead for success in most internet businesses but it needs to be backed up by good business strategies and sound tactics. However, in the beginning, the common keywords or operative words like profit, revenue, passive income are nicer to hear than the unattractive words like business strategies or systems. But the fact of the matter is: only having a passion is not enough to be successful. Your passion should be in sync with your business goals, vision, and strategies.
#4: You can work part-time and earn full-time income
Another myth that is deliberately perpetuated by fly-by-night scammers. Yes, towards the beginning one can juggle time between internet marketing as a part-time work and another paying job that is full-time. But like all offline businesses, internet marketing needs our full dedication and energy to be really successful. Anybody selling the idea that you can earn good revenue with internet marketing working part-time is not telling you the entire story. The top successful internet marketers are all working full-time on their websites. Yes, one can definitely keep a paying job and work only part-time in internet marketing and earn a “second income” but if one is looking towards success, then the work has to be full-time. This, of course, does not mean that one should quit the full-time job and start working full-time immediately on internet marketing. In fact, it would be better if we start only on a part-time basis and let our conventional job keep us secure. After all, we’ll be needing the money from it to finance our internet marketing.
#5: Social media advertising is free
This is not entirely true. One can create business pages on Facebook for free and do advertisements there. But if we want our website to reach many people, then we have to put ads. We cannot leverage our friends, relatives into our customers. Putting advertisements on different social media platforms require money.
#6: You need not be a good writer for blogging
One mostly hears that you only need to be a good communicator to be successful with blogging. But the fact remains that this good communication is written and not through the verbal route in case of online business. To be able to create engaging content, one needs to be eloquent with the written words. The writing need not be of the literary kind but it has to have an ability to immediately connect with the audience. How does one “write the way one talks” as advised by most internet marketing gurus? Simple, you have to have some writing skills to be able to do that.
#7: Internet marketing can be self-taught
This has to be a myth because the scope of internet marketing is so varied that it cannot be covered by self-teaching alone. Learning solo will not be easy and it will take a long time to see some success happening. Here, community learning scores better as one will get all the support from peers and more experienced people so that mistakes are minimised. Further, learning online marketing in a community means one can share a wealth of knowledge and experiences among the members.
#8: Creating a website is enough
Never make the mistake of thinking that creating a website is enough to succeed in online business. Your website needs to offer a variety of content such as articles, video, product reviews, instructions, lists and more. It also needs to remain fresh and give valuable and accurate information all the time.
#9: You need huge traffic to derive profit
More than heavy traffic to your website, you need the “right” kind of traffic that leads to business conversions. Of course, good traffic to your blog is useful since the probability of making sales increases but it is targeted traffic for your target audience (niche) that will lead to conversions.
#10: Create a beautiful website and your job is done
A good-looking website does not necessarily lead to good profits. If you think your business will go into the auto-run mode once you get some traffic, then you are mistaken. An internet business is an ongoing effort and one needs to continuously update the website with new posts that provide the latest information that people are looking for. The content needs to remain fresh in the eyes of the audience. Left alone, a website degenerates and undergoes a slow death.
Internet marketing is a reality and is an opportunity available to everyone for generating good revenue. One can truly manage to earn a sizeable profit from the comforts of home. But before one can do that, it is important to acknowledge the many myths associated with internet marketing.