When you engage in something that is totally new, it can be exhilarating, fun and even down right frustrating and confusing. The same thing can be said about internet marketing, because it pertains to your internet business which can either make or break you if you do not fully understand the very basics of internet marketing.

What makes it even more frustrating is that you spend all that time and effort trying to get your internet business going and the next thing you know it, your business is going no way because you did not fully understand of what internet marketing is and how it can greatly influence your income.

Before you proceed to the next portion of this article, you need to ask yourself these 3 questions on how you can better understand what internet marketing is ad they are:

A. What is The Definition of Internet Marketing?

B. How much will it Cost Me?

C. How Will Going Into Internet Marketing Benefit Me?

What is The Definition of Internet Marketing?

If you look how a business is run, you will see how marketing plays an important role in the success of a company. The main definition of marketing is that starts out as a simple idea, item or organization. When you take a look at the bigger picture, it covers everything from advertising, market researching (which is very critical because a company must need to know who to market to or else they would be throwing away a lot of money), customer service (gaining and retaining) and putting out more products that will benefit the customer.

Virtual internet marketing runs on the same ideas, but in a different format. Marketing in this sense pertains to writing articles, banner advertisement, e-mail marketing, posting unique content on a website, SEO’s, affiliate marketing, list building and auto-responders and other e-commerce stuff.

How Much Will It Cost Me?

It all depends on the methods of promotions to choose from, paid or free. This is where setting up a budget and a well-defined business plan, with long and short-term goals, will come into play.

There are many options that are now available to the new affiliate marketer so that they can start building websites or create a blog for free. Starting an internet business can be run with little or no money invested from your own pockets, but there are times in which you will have to pay for advertising so that you can get your business to the media. The way that I have found out is to start small and work your way up the financial ladder. Once the money starts pouring in from affiliate commissions and then you can start paying for internet tools and programs that will help your business even further.

How Will Going into Internet Marketing Benefit Me and My Business?

Being a stay at home has its benefits as I am able to be with my children more and help them out with their homework and just simply spend more time with them. For you, the reader, you probably have other things in mind.

Your business will also benefit from internet marketing in a way that you have never thought of before. Here is a word that I want you to become familiar with; it is called auto-pilot. Here are some ways that you can set your website(s) or blog(s) on automatic:

1. Article marketing

2. Newsletters

3. Banners

4. Adding text links on your website

5. E-mail Marketing

There are probably many more that you can think of, but these 5 ideas that I have listed are critical in your marketing efforts. You will gain the trust of your customers as they will see that their desires are fulfilled. This what article marketing can do for you and your internet business.

You are ready to begin you internet marketing career now that you have the results to these 3 questions and gain success with your business venture.

Estimating your assets value:

Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.

Compensation and Expenses:

Is the company you are considering working for you or against you? The agreement you decide may determine this.

A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.

In a straight commission structure, the company is paid an agreed upon percentage of the total sale.

In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.

In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.

In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.

What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.

Auction Expenses:

In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.

All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.

Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.

Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.

Buyer’s Premium:

What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.

The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.

It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.

Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.

Pre-Sales:

We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.

As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.

Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.

A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.

It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.

When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.

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