Starting an online business is really difficult especially if you are a newbie. There are so many things to understand and know. Most of the time there is so much information and it becomes so confusing – one is learning new online business concepts to tons of other technical things.
Despite all this, we all know there is money to be made with online business. In fact, it is my opinion that any traditional business big or small has to have a successful online business aspect to it otherwise the business is missing a big part of its potential market.
So the issue is how to have a successful online business. We want to know how to create one and then make money. Bottom line, any online business that does not make money is not a real business – it is just a waste of time.
Let’s use fishbone planning for a successful online business and understand the elements of the online business. The online business success – the big fish bone has 4 bones which you must understand.
• Bone 1: You must have a product. Whether you develop it or represent someone’s (affiliate). But before you start to pick or develop your product, you have to do some market research about the product’s marketability. There are some gurus who believe that you have to be in the market where there is a demand rather than what you are good or interested in. Some online business professional believe otherwise. You must pick a product where you have passion, so that you can and will continue to develop it. I believe you have to have both. Otherwise, your business is just a fad and not a long term real online business.
• Bone 2: Now you have a product to sell online. If you were marketing in a traditional sense, you would find a location and then do up your store to sell the product. It is the same concept but now your store is virtual. There are a lot of similarities between a virtual store and physical store. Here is a comparison and its terminology.
Physical store = Web Site (storefront)
Salesperson to present product = Sales Letter
Name card bowl= Opt in list
Samples & Giveaways = Part of the product as teaser
Free gifts with purchase = Bonuses
The similarity between the physical store and virtual store ends here. In a virtual store, it is more difficult to sell because there is no physical being answering, clarifying and selling the benefits proactively to the prospect. So the sales page, in particular, the copywriting is extremely important to catch the attention of the reader. The visitor to your web page is extremely intolerant. If the first few lines or words do not catch the reader’s interest, the reader will move away. It is said that if you do not catch the attention of the reader in the first 3 seconds with your first line, the reader will lose interest in your store and product.
• Bone 3: Some say the most important thing is the marketing of your store not your product. Interesting isn’t it? It is not your product that you promote but your storefront! You drive traffic to your storefront (website) and hopefully your visitors will be intrigued with the first few words you present and continue to read the rest of the storefront. Eventually, if your website presents an irresistible offer, the visitor will become your customer.
The main aim of marketing is to generate traffic to your website. There are numerous ways. Some of these ways, although not all-encompassing include:
• Search Engine Optimization. This has to do in making your website very search-engine friendly and making them like your site. If the search engine likes your site, you will rank very high when someone searches for the products you sell. With high rankings, the exposure of your site to customers will be high as well.
• Creating many links to your website also increases the visibility of your website. Search Engine loves sites with many links. This is done via a number of ways.
o Article writing like this one which will eventually promote a website. You can expect I will put a link at the bottom. Please do check my website out.
o Blogging. Every blog you write will have a link back to your website
o Videos. Similar effect as blogs and videos, and these attract a lot of visitors.
o Press releases
•Paid methods
o Traditional Advertising
o Pay per click advertising
o Sponsorship
• Bone 4: Customer service. When someone has opted into your list or bought something from you – they are your interested party. They are your priced jewel and the potential cash cow. So you have to treat them with respect and dedication and you can tap into the list for advice and feedback. A majority of them will become repeat customers because you have built a relationship with them. Some techniques to keep your list responsive are to engage them on a personal level.
a. Wish them during holidays. Do not market anything
b. Occasionally, give them great free content. Create value for them. Some of them will be appreciative.
I have touched on the surface of each of these bones of successful online business. Ewen Chia’s Instant Bestseller TeleCoaching Program is a comprehensive successful online business telecoaching program that expounds these concepts in very great detail. Please check it out at my byline.
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