June 2015 - Page 2 of 3 - Vertū Marketing

Why You Should Be Using Affiliate Marketing

June 15, 2015 by tylie eaves

Your business is going well, you have a core group of returning customers, your sales are strong and your website is receiving adequate traffic. These things may sound great, but those who are truly searching to build wealth through online ventures might not be pleased. Being a business owner certainly has its perks, but it does require hard work and creative thinking.

The creative and adventurous entrepreneur is almost always on the lookout for a new opportunity on which to capitalize, and affiliate marketing is an excellent opportunity. Not sure what affiliate marketing is?

Affiliate marketing [v. uh-fil-ee-it mahr-ki-ting] – a form of performance-based marketing in which a website receives a commission from every paying customer it sends to another website.

Affiliate marketing is actually a really simple and fairly easy way to grow wealth. After building a website (typically, affiliate websites focus on blogs and reviews of various products), owners are able to create affiliate accounts with various other businesses. Once these accounts are created, the owner of the website inserts his or her affiliate link somewhere and encourages readers to click on it through a product review, entertaining blog post or various other means.

The idea of sending a customer to a different business can feel counterintuitive, but affiliate marketing websites are beneficial to both parties involved. The owner of the affiliate website can create a helpful tool for consumers who are in search of honest reviews or entertainment. If a consumer uses the affiliate link to visit the second company, and he or she goes on to make some kind of purchase, the business that is selling the product benefits, and the affiliate owner gets a commission from the sale.

Pros

Affiliate websites typically take less startup funds to get rolling. Websites should still be professional and presentable. With engaging content and a bit of networking, getting the ball rolling on a successful affiliate marketing website is quite easy.

Cons

Although easy enough to start with the potential to grow a significant amount of wealth, affiliate marketing websites do not really offer the ability to expand and grow with new products and services like a traditional online business.

Ultimately, affiliate marketing offers hardworking entrepreneurs and out-of-the-box thinkers a quick and valid way of using the Internet to grow their wealth.

Business Stagnant? Look to the Growth Strategy

June 7, 2015 by tylie eaves

Frustrated by stagnant growth quarter after quarter? Is it becoming impossible to push your profits up any higher? Many small business owners experience a slump or less than desirable periods of growth at some point, and it can be understandably disheartening. If a growth strategy has not been implemented for a business, now, not tomorrow, is the time to do so.

A growth strategy doesn’t have to be overly complex. It simply needs to outline plans for future growth and what requirements need to be met in order to achieve the end goal. Factors that a suitable growth strategy may address include:

New products or services
Estimated growth of customer base
Projections for demand over X amount of years

For business owners who tend to be focused on the here and now, a growth strategy forces them to turn their attention to the future. Unfortunately, one aspect of the growth strategy that owners struggle with is coming up with the extra finances.

Even if some corners can be cut without effecting the quality of a final product or service, finding the necessary funds within a business’s reservoir is not always feasible. This is where investing can play a significant role. Most entrepreneurs meet with investors early in the days of their start-up, and there is no reason to shy away from investors when seeking new capital for growth. Initial investors who were impressed with how a business began might be happy to invest in new growth.

Those who are set on finding more internal sources of revenue without reducing quality of service may also want to consider adjusting price points. Other options include introducing new products or services that do not require a significant financial contribution but will fill a need or desire of the already existing customer base.

How MyYearbook’s Founders Ditched the Conventional Yearbook

June 7, 2015 by tylie eaves

Catherine Cook was only 14 years old when she came up with the idea for her popular social networking website, myYearbook. After moving just before starting high school, Catherine and her brother Dave decided to look through the school’s previous yearbooks to see if they could scope out potential new friends, but what they found was mostly empty and useless information. Realizing that the yearbook experience was seriously behind modern times, the two decided to create a website where high school students could gather.

The brother-sister duo followed the footsteps of their eldest sibling, Geoff, who, in 2002, sold off two different websites that he had founded while attending Harvard University. When Geoff learned about their start-up website, he stepped in as CEO and invested $250,000 of his own money.

The original website was basic in its structure, but, with some clever advertising and engaging content, they signed up 400 people in the first week. The siblings quickly began to introduce new and better features, thanks to an easy “in” they had with the users — namely, Catherine. She remained active and engaged on the website and listened to what the users wanted or thought needed to be improved, and, as a high school student herself, she had her own unique perspective of the website.

When Facebook began to rule the social networking world, myYearbook did not back away. Instead, it reinvented its message and focused on helping users make new friends, not connect with the ones that they already had. Recently, myYearbook merged with another social media site in a whopping $100 million deal.

It is clear that the Cook siblings have more than just a knack for the entrepreneurial mindset, and even with competition from Facebook and Twitter, myYearbook is still listed in the top 25 websites that receive the most traffic in the United States.

How to Turn Your Freelancing Gig into a Successful Business

June 7, 2015 by tylie eaves

Look just about anywhere on the Internet and you will likely find someone offering services as a freelance worker. While some freelancers are content to continue at the same level of success, others are not as satisfied with this path. There are actually many former freelancers who understood how to up their game and transform their small, freelancing service into a growing and thriving online business.

The gap between freelancers and entrepreneurs might seem too wide to bridge, but, for those dedicated to succeeding in online business, the distance is not far at all. By following a few relatively easy steps and adding in a big helping of hard work, a freelancer can transform his or her service into a successful business.

1. Consider the market

Has there been an increase in demand for work lately? Are there more clients than you are able to handle? The time might be right to expand.

2. Take care of the legalities

Most people can start freelancing without having to sign or register legal documentation, but if you plan to start hiring people, you will need to have the legal ability to do so. Consider consulting with other start-up owners or a knowledgeable attorney when completing this step.

3. Find your funding

Contact investors who are interested in individuals who have already built successful freelancing services and pitch your business. Make sure you already have your business plan and finance estimates prepared and ready to go.

4. Hire your team

You will still be wearing most of the hats around the virtual office, but having a few extra hands on deck can leave customers with a more satisfying experience.

5. Get the word out

Let your former freelance customers know that your services have expanded through a new business and consider offering one-time discounts for “returning” customers. Also, do not forget how important social media can be for advertising.

While it is certainly okay for freelancers to feel happy and comfortable with the freelance career that they have built for themselves, there is nothing standing in the way of those who desire more.

Think You Have What It Takes to Start a Start-Up?

June 7, 2015 by tylie eaves

Everyone is different, sure, but there are still some generalizations that are fairly safe to make. Gymnasts tend to be athletic, writers generally have a knack for words and CEOs typically have outstanding leadership skills.

Entrepreneurs are no exception.

Many entrepreneurs are fiercely determined and passionate, but it takes more than that to successfully build an online start-up. Do you have any of these common entrepreneurial traits?

Organized: Some entrepreneurs are innately organized while others are not. Both types of people can be equally successful when the latter understands the importance of good organization skills and makes an effort to change, which leads to our next point…

Adaptable: Having your business plan in order, a carefully organized calendar and your desk neatly arranged is no doubt hugely beneficial during the often hectic start-up time, but there is something to be said for the ability to deviate from the plan. An entrepreneur understands that there are times to stick to the plan and times to deviate from it.

Persistent: When first starting a business there are bound to be plenty of “NOs” and closed doors, but an entrepreneur does not abandon his or her idea that easily. The going may be tough, but entrepreneurs are tough and they keep going.

Realistic: Entrepreneurs often have to wear many different hats in the early stages of a start-up, but they also understand their own limitations. Whether they struggle with time commitments or handling finances, entrepreneurs know when to take on the burden themselves and when to ask for help.

Building a business from scratch is not for the lighthearted, and there is no ignoring or denying the amount of commitment that it takes, but most entrepreneurs have another thing in common — they are not afraid of a challenge.

Your Annual Budget Could Be the Key to Success

June 2, 2015 by tylie eaves

Even with all of the drive and motivation in the world, a business cannot continue to function without one very basic thing — money. While your budget should be able to accommodate various events by either slightly stretching or shrinking when necessary, it should otherwise remain on point.

The first step you should take when developing an effective budget is establishing your expenses. Make sure that you distinguish between weekly, monthly, quarterly and annual expenses. How much will it cost to set up an office or maintain a website? What do the outgoing bills look like? If this is your second, third or even fourth year in business, and you still find that you struggle with these types of figures, go back and review previous expenses to get a better idea of these costs.

Sales estimates and projections are another important consideration in your budget. Keep in mind that an estimated income from sales is more than just a guess. This figure is usually a carefully calculated total that takes a variety of factors into account, including seasonal fluctuations.

Once you have the basic cash in, cash out aspects of your budget handled, you may be discouraged to find that your expenses outweigh your income. This is where successful and innovative entrepreneurs really have the chance to shine. Part of running a successful online business is having ingenuity. When a budget is unbalanced, you will need to find areas to make up this loss. Two examples of this include reviewing expenses for unnecessary costs and finding innovative ways to bring in a little extra cash from other products or services.

If your business is struggling to stay afloat in the online world, consider revisiting your budget to set things back on track.

Turning Your Purpose Into Profit

June 2, 2015 by tylie eaves

Most people know someone who is a veritable wealth of knowledge on at least one subject. If none of your friends fit that bill, then that fountain of knowledge just could be you.

From tips for keeping a marriage happy to fashion tricks that can keep you up-to-date on fashion trends for half the cost, some people simply find joy in learning the latest secrets for success and then sharing them with others. While those types of individuals might have vital information across a wide array of subjects, they may not realize that there is an actual market for their knowledge.

Information marketing can combine your purpose for keeping up with the latest tips and tricks with a bit of hard work and effort to create a steady and meaningful

paycheck. A large number of people who log online do so in search of some kind of helpful information; however, without someone there to supply those answers, their searches can end up fruitless. Articles addressing specific types of needs are in high demand, and people who have the passion and drive to learn and share with others are an invaluable aspect of the entire process.

Whether Internet users are searching for “Tips for building a shed” or for “How long meat is good in the fridge,” they need help. Could you be the one to provide those answers?

Muzio’s Founder Utilizes Love of Travel for Business Success

June 2, 2015 by tylie eaves

Muzio — an app development company — thrives by remaining open to new and innovative ideas for the mobile platform. CEO and founder Reshma Chattaram Chamberlin helps foster that company-wide attitude from her own love of traveling, which often places her in the midst of new and exciting cultures. Prior to starting Muzio, Chamberlin spent time as both an app developer and manager for large groups of web developers, positions that took her all over the world.

Perhaps, one of the most remarkable aspects of Muzio’s start-up was that Chamberlin and her partner were able to fund the project entirely by themselves. Without any commitments to investors, she was able to exercise her best-judgment and skills to design Muzio and its very first app — Muzio app — in such a way that allows for

continual improvement and innovation as the company faces different challenges or new ideas arise.

Chamberlin acknowledges that others may be quick to dole out advice or opinions to entrepreneurs who are ready to strike out on their own, something she is quick to caution other entrepreneurs about. Chamberlin believes that prospective entrepreneurs can gain much more by paying careful attention to their own instincts and experiences. Her success is due in part to realizing that no one person has all the answers, and she has built an extremely successful career out of primarily relying on her own skills.