18
Setting Goals Targets is the First Step to Success.
Filed Under (General) by nathan on 18-06-2010
In the world of online earning, the first thing you need to do is work out what you need to be able to call yourself a problogger. Once you have done this, the next thing you need to do is to work out what traffic figures, with a realistic conversion rate to earn you X amount per month. Now as you start out you will not be able to charge £1000′s to a company for a marketing campaign, and depending on your niche you are going to be looking at less than 50p per click initially, meaning each user is worth a percentage of the 50p per click, this is known as CPM in the adwords interface (Cost per Mille – Mille is Latin for 1000). This is in effect a calculation based upon the revenue earned for x numer of clicks multiplied by your CTR (Click Through Rate).
My Goal for this blog is a modest one if you was to believe what you read. I want to earn £1800 Per month (Equivilent to a £30,000 per annum job). Now please note all of my targets are based upon profit, as far as I can forsee you will not see me making bold claims of this blog is making £40,000 a month turnover – As Turnover is Vanity – and Profit is Sanity!
Now this is where I see things a lot differently to a lot of online marketers, who always talk about there blogs earning them x days a week wage, earning 2 days a week wage is all well and good (And equates to about 8 days a month) – however this is just breaking your target down into achievable results. Now you have set the Goal
Your First Target Must Always Be To Maximise Earnings From Every Visitor.
If you do not work on this successfully, then you will never reach your goal. if you convert 1 in 100 visitors to a click on google Adsense – that is a 1% click through rate. Assuming a click value of 50p for easy figures, I would need 3000 clicks, meaning 300,000 visitors per month would be needed to achieve the goal above. Now if we improve that CTR to 2%, the same 3000 clicks are still required – but we halve the amount of visitors we require to 150,000 per month to hit the target.
Now this is being very shortsighted, basing the fact the only way I am going to earn from my visitors is through Adsense. You have to consider the fact this is only one method of earning online, there are earnings to be made from reccomending products with affiliate earnings, where you either get a percentage of the sale fee or a lead value. certain affiliate programs offer reoccuring income – this is great for someone to hit there goal as whilst you may expect a reasonable amount of drop off, as the total earnings increase month on month:
| Month 1 | Month 2 | Month 3 | Month 4 | |
| Person A Signs Up | £1.00 | £1.00 | £1.00 | £1.00 |
| Person B Signs Up | £1.00 | £1.00 | £1.00 | |
| Person C Signs Up | £1.00 | £1.00 | ||
| Person D Signs Up | £1.00 | |||
| Total Monthly Income | £1.00 | £2.00 | £3.00 | £4.00 |
As you can see – If you can select the correct affiliate programs, your income for exactly the same conversion rate can increase month on month. However that is for a future article.
So to recap:
The Goal: This is to make £1,800 profit per calender month.
The Target: To Maximise earnings for every single visitor.
