Finally, after 6 months of an SEO campaign, I got my commercial keywords ranked for another project, got in 2 paying clients, and 3 students in my SEO course. I made more than I’ve ever made in a month in my entire life from entrepreneurship, and my financial career.
How do you get from zero, to your first couple of paying clients? What is the trajectory?
First of all, deciding and commiting to being an entrepreneur is hard. Starting a website is hard. Educating yourself on search engine optimization is harder. Selling and monetizing your website is the hardest.
There are the psychological fears that you and I have when it comes to actually selling, providing services on our website.
How to Monetize your Website – The Psychology Behind
The clients paid and I found myself thinking: Was it just luck? Can I repeat this success?
That was my invisible script: I thought the clients weren’t real.
This is why fixing your psychology on how to monetize your website is more important than worrying about slashing prices in order to repeat your success and other non essential details.
There’s a lot written about making money, however, there’s little written about the psychology behind making money, and I intend to do so in this article.
Principle 1: People Value What They Pay For
You may find yourself asking: am I charging too much? Should I decrease prices the next month just to make a sale? Okay halt right there. There’s research that goes to show that people don’t value what they don’t pay for.
This is true for any product or service.
I once taught two people, a good friend and a family member, $7000 worth of advanced SEO material for free. Guess what happened? They never took action. They never purchased their website. They never built anything. This was despite me stressing on the fact that it took my years of knowledge and effort to build and construct the course.
If you’re in the coaching and services nice, you’ll need to reframe how you charge your services: You’re in fact doing a profound service for the people who actually want to take action and better their businesses.
This was a HUGE mistake I made during my freelancing days. In order to close a deal fast, I’ll give my customers a slight discount, and by doing that, that signaled to them that my work and services wasn’t THAT valuable. I didn’t teach them to revere my work. I didn’t educate them on why MY digital marketing services were different, better, than the majority of my competitors, and took years and years of knowledge to accumulate.
I haven’t coached for free or given any discounts ever since, and I’m sticking to that.
Principle 2: Focus on Customers, Not Critics
It’s common to get critics when you’re starting out your business. Your friends may criticize you and your family members may criticize you. When I made my first $5000 in revenue from my projects, I barely got a congratulation or a pat on the back from anyone close to me. In fact, some of them took this opportunity to poke at my other areas of my life.
‘Marcus, you’re not being spiritual by focusing on money.’
Sure buddy, sure.
‘Marcus, you can’t even finish University.’
Did I mention that I choose consciously NOT to finish it?
I got all heated up and told myself: I’ll prove them wrong. I decided to laser focus on my business.
However, what’s an even better reframe?
Here’s a better reframe: Ignore the critics, and focus on your clients and customers. The ones that are actually paying you and valuing your services. Who do I want to pay attention to, my clients that paid good money to hire me as an SEO consultant, or these critics who are giving me shit for attempting to improve my financial life?
Which brings me to my final point.
Principle 3: Create Great Products and Services
When I first got into entrepreneurship, I got into it to earn money, travel the world, live the 4 hour work week. That was how I got into some shady affiliate marketing models. However, as I matured, I didn’t want to be remembered for that, I slowly turned to digital marketing. I wanted to acquire real skillsets, skillsets such as persuasive copywriting, search engine optimization and positioning.
When you’re creating products and services, you should aim to create GREAT product and services. That’s how you’ll stand out from the rest of the market, compared to those who are looking to earn a quick buck.
Here’s a comparison:
- Cheap Indian SEO firms versus proper SEO consultants with Google-able portfolios
I never charged my SEO services for $500 a month. NEVER. I never had, and I never will. Even when I was a freelancer, my minimum rate was $1200 a month for 6 months. I also never promised Google rankings. However, I did deliver results and built my portfolio, customer testimonials over time.
- Cheap life coaches versus behavioral change specialists with a background in psychology
I hate the word: life coach. I also hate most of these ‘life coaches and gurus’.
The majority of these life coaches don’t know anything about psychology and true human behavioral change. They market stuff like: ‘You just have to follow your dreams and passions.’ ‘You just got to be yourself.’ ‘You just got to be confident.’
What the hell do these statements actually mean?
- ‘Forex gurus’ versus a fund manager with audited track records
The majority of these wealth educators are merely promising you extraordinary returns in their courses to get you to purchase they course. They can’t back it up. Compare the run of the mill ‘Forex trainer’ to a registered fund manager, with audit track records. Which one has a better product or service?
When you create products and services that last the test of time, you can keep those products and services FOREVER. There’s no need to scramble after one magical tactic or gimmicky sales strategies month after month. Firstly, you create life long customers. You gain their trust. You’re also free to raise prices later when you actually create something that is OF value.
These are just some simple examples that I identified in my own life, observing how different course providers and business owners run their business.
How about you? How can you use these three principles to help you better monetize your website by creating high quality products and focusing on the right audience?