Archive for March, 2007

Why is it that most people never make money online?

But I bet if I ask these people that dont make
money to tell me if they know the 3 basic elements of
making money, most of them (if not all) will say

“I knew that”…

(Of course they would say that, after I tell them the
3 elements)

The question here is, since they know, why is it
that they fail to generate money from their online business?

It is because they dont really understand how these
elements work together. 

As I promised on Monday, I put together a short report
that talks about these 3 elements and you can download
it for FREE from here:

http://SocratesBlog.com/files/3-elements.php

Remember to come back here, and post your comments.
Posting your comment today, will increase your chances of
winning the “mystery gift” this sunday.

Go ahead, Download the report now and come back to post
your comment

http://SocratesBlog.com/files/3-elements.php

Stay tuned for friday for the “evaporating swimming pool”
cocept.

On friday you will clearly understand how traffic
generation works and how it is easy to make a lot of money
when you know the “evaporating swimming pool” model.

Partner to Your Success,
-Socrates Socratous

P.S. Dont forget to come back and post your comment about
the report. Posting your comment today will increase your chances
of winning the “secret gift” on sunday.

http://SocratesBlog.com/files/3-elements.php

Posted by: Socrates Socratous

Is it actually possible to actually make money with PPC?

Maybe you are one of the people that got burned
with PPC and Adwords and you “gambled away” your
mortgage money “betting” on keywords

Maybe you are one of the people that did not get
burned, neither made any money. Just plain ol’
wasting precious time

You are not alone. The internet is full of horror
stories about people FAILING with Adwords.

There is also a smaller percentage of people showing
PROOF where they make thousands of dollars every
week with it.

Question is, Who do you want to be?

In real world more than 90% of the people live
paycheck to paycheck, struggling to get along.

But you chose not to be one of those. You want to
be the small percentage that makes the difference.

That is why you are reading my message right now…

So I will assume that you want to be part of the
smaller percentage that makes the money without excuses.

In December 2006, I decided to do a TEST.

I decided to enter a market I never had experience with
I decided I was not going to use my real name
and I decided I was going to make 10K a month in 3
months in this market alone.

My Plan was to do it with Google Adwords alone.

Beginning december I started working on my plan.

I did my research
I found an affiliate product
I created my adwords campaigns
and begun getting traffic…
Fast forward 3 months later…
(DEC 06, JAN 07, FEB 07)

Here are my results:
(Clicking on the images will open full graph in new window)

2006. Starting on the 47th week of 06 (Beginning December)
2006 Sales Graph Partial
The numbers accross the bottom indicate the number of the week in the year
the numbers in the boxes indicate sales value for that week.
As you can see above, by the last week of Dec, I made $2031 in a single
week.  (The very last week was a 1 day week in December and that is why it
only shows $170)

Beginning 2007. The graph shows up to March 3rd
2007 Sales Graph Partial
As you can see from this graph, by the last week of the testing
period I manage to make more than my goal of $10,000 in a single month.
$11,813 to be exact.

Considering my Adwords cost was only 35% of that,  65% of
that amount is pure profit.

In addition to that, I had a few other income streams tied into
the test which made an extra $2000 that doesnt show in my
Clickbank stats above.

(The graphs are created with CBAccountant. An excellent tool
that will download and analyze the data from ALL my
clickbank accounts automatically. It literally saved me
hours every day.)

Considering that
I had NO experience in that market
I had no JV partners
I was a total unknown
I started from zero

My success and system are replicable.

I dont care if you never used PPC before
I dont care if you got burned and lost your mortgage money

You are probably wondering why I used the word “betting”
instead of “bidding” on keywords at the beginning of this letter.

Because if you bid on keywords, you will make money
if you bet on keywords, you are most likely to lose

What do you want to do?

Bid or Bet?? You decide…

Biding requires some research, work and measures.
Betting doesnt require anything. Just head on to google’s
website and bet away money.
Coming up on wendnesday:
“The 3 most basic elements to making money”
-Without one of these 3 elements, you will not make a penny”

Please post your Comments below.

I will randomly choose a person that comments on any
article I post from today until Sunday March 25, and
award him/her with a surprise gift.

Till Next time,

Partner to Your Success,
-Socrates Socratous
P.S. Please comment below and have a chance of winning
a surprise gift on Sunday.

Posted by: Socrates Socratous

(For part 1 of this post, go here)

Wow!

What a diverse response… 

Indeed Ad #1 has a higher ROI (return on Investment).
That is true since I pay $6.84 to make $27
which is less than what I pay for ad 2 to make the
same money.

The real question here not which AD yieds the most
ROI, but which AD is going to bring more PROFIT for
the LIFE of the campaign.

Lets take a deeper look.

When it comes to PPC advertising, we usually look
into 2 important conversion rates.

a) the CTR (conversion rate of impressions to clicks)
b) the Conversion Rate of a click to action (sale, lead, etc)

However, most people take the “conversion rate to action”
thinking that the higher it is, the more money they make.

For example-
you may hear, “I get a 5% conversion rate”, I am so proud 🙂

But then, how much of that same traffic can you get,
and how fast. If I can supply you with 100 of the same
quality people every day, you will consistently make 5%
but you will only make 5 sales a day. no more.

If I can supply you with 300 less targeted people every day,
and you only convert at 3%, you can make 9 sales a day.

Even if you paid more for #2, it may make you more money.
You just have to look at the numbers.

Back to our PPC example.
usually to get better targetted people, you will have to
prequalify them with your ad copy which usually leads to
less CTR.

CTR can control how fast you are getting people to your site.
An ad with 2% CTR compared with an ad that has 1% CTR gets 2 times
the traffic for the same time, or in other words for the
same number of impressions.

That is why you have to take both conversions into
consideration when you are estimating your profit.

In other words, you want the conversion rate of IMPRESSIONS
into ACTIONS and to try and better that number.

The following formula will tell you the Conversion Rate
of Impressions NOT clicks.

Conversion Rate * CTR / 100

so if you have 2% CTR and a 2% conv rate,
the above formula will give:

2 * 2 /100 = 0.04%

So to see how much profit you make per impression
you do this:

0.04% * (Sale price – Cost Per Conversion)

This will generally give a very small number and you may
have trouble doing it with your calculator, so if you
multiply it by 1000 you will get the profit per 1000 impressions
which will be easier to work with.
Now that we know the theory, lets get back to our problem
to see which ad is better in terms of profits.

Ad A:
Conversion Rate = 0.8%
CTR= 1.59%
0.8 * 1.59 / 100 = 0.01272%
Profit per 1000 Impressions:
0.0001272 * ($27 – $6.84) * 1000 = $2.5643

Ad B:
Conversion Rate = 0.6%
CTR = 2.34%
0.6 * 2.34 / 100=  0.01404%
Profit per 1000 Impressions:
0.0001404 * ($27- $8.58) * 1000= $2.5861

Now this shows that AD #2 is slightly better than #1.

There is also another issue with google. When dealing
with conversion rates, google rounds the numbers so
sometimes they are not as accurate.

Here is a more accurate formula:

(Sale price – Cost Per Conversion)*(Sales/Impressions)*1000
will tell you the profit per 1000 impressions

and to get the number of sales do this (if cost per conversion is >0):

COST/(cost per Conversion)
With this formula you will get:

Ad A:
$2.4659 profit per 1000 impressions
Ad B:
$2.6332 profit per 1000 impressions

Ad 2 will profit 17.73 cents more than Ad 1 every 1000 impressions

In our example the difference is not much. But keeping in mind
this, can show you hidden money in your ventures.

Also, Ad 2 will get you more customers than ad 1. More customers
means more future profits etc.

Considering this, Ad 2 is a winner to me.

I have a reason I let both ads running. I also have a 3rd ad
running alongside these ads. (that is why %served doesnt add up to
100)

I will get into that at a later post.

I know the numbers can be taunting to some, so if you have
any questions please post a comment, and I will be happy to
assist you.

Till next time,

Partner to Your Success,
-Socrates Socratous

Posted by: Socrates Socratous

I have a little money problem for you today 🙂

Below you will see a screenshot from 2 of my google ads
(This was taken from a live campaign a few minutes ago)

Here is the problem:

I am “split testing” 2 ads. In other words, I am running 2 ads
at the same time. Half of the traffic goes to AD 1 and the other
half goes to AD 2. This way I can pick the best ad and drop the
other one (to generalize)

I want to keep the Best performing ad and drop the other one.
The best performing ad, is the one that will make me the most
money during the life of the campaign.

The question is: Which of the 2 ads below should I keep?

Some more info and explanation of terms:
Product sells for $27 dollars.
Conv Rate: How many sales per 100 clicks (i.e. 0.8% means
0.8 sales per 100 clicks
Cost: How much money the ad cost me so far
Cost/Conv.: How much does it cost me to make a sale.
CTR: Click Through Rate (how many clicks per 100 impressions)
Impr. Number of Impressions (How many times my ad showed
on Google.

Please leave a comment with your answer and an explanation
why do you think the ad you chose was the Best Performing Ad.

CLICK THE IMAGE BELOW TO OPEN FULL SIZE IN NEW WINDOW

google_ad_problem1.gif

This is going to be an interesting experiment and it will help you
understand a lot about your online business. Please make an effort
to answer the question (you can use a nickname if you wish to stay
anonymous).

I will post my comments and my explanation later this week.

Stay Tuned 🙂

Partner to Your Success,
Socrates Socratous
P.S. Post a comment explaining which ad performs the best and why.

Posted by: Socrates Socratous

Hi everyone!

I know it’s been a while since I last posted on my blog.

I have been quite busy lately with my projects and my traveling.
I promise I will start posting more regularly.

There are so many things I want to write about…

I am so  upset seeing all the misleading information
being sold everywhere on the internet nowdays
costing people like you money and valuable time
(Is it just me or did you also realize that there is
an ever-increasing number of internet marketing “experts”
going around selling false promises nowdays?)

Anyway, I will get to that later, Now let me share some
pictures from my latest trip to New York where I attended
Mike Filsaime’s and Tom Beal’s 2007 Figure Business Seminar.

Honestly, it was one of the best seminars I ever been to.
The content was shockingly eyeopening and I couldnt
believe the amount of sensitive, money making information
being shared.

Also the number of top notch internet marketing experts
attending was also shocking. I got the chance to meet and
network with quite a few very well known marketers.

Enough with my writing. Here are the pictures:

(Let me know what you think)

 

 

 

 

Socrates Socratous and Mike Filsaime
Here is me with Mike Filsaime

Socrates Socratous and Tom Beal
Tom Beal and I

Socrates Socratous and Michael Cheney
Michael Cheney and myself

Socrates Socratous and Henry Gold
This is the “rarely photographed” Henry Gold.

Socrates Socratous and Jacob Stein
Jacob Stein and Me

Socrates Socratous and Willie Crawford

Willie Crawford and Socrates.

Socrates Socratous and Jeff Walker
Jeff Walker. The man responsible for all these product launches you see almost daily lately.

 

Socrates Socratous in NY
Oh, yes, I forgot to mention that it was freezing cold and was snowing heavily.
Here is me at Times Square

Socrates Socratous in New York
As I said “Heavy Snow” (How is my pose?)

 

Word of Advice:
When you plan to take pictures (Especially to publish) make sure
you dont wear black and white striped shirt or you will look like
me in the pictures above…

…or a Zebra (see the resemblance?)
zebra

[rate 5]

 

Partner to Your Success,
-Socrates Socratous
P.S. Please leave me your comment, to know that you are reading this ok.
(and let me know what you think about the pictures)

Posted by: Socrates Socratous

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