In today’s digital world, the internet has created immense competition. No longer can companies rely on old techniques and strategies to get ahead. If you want to gain more marketshare in your industry, it is vital that you use the right tools and techniques. If you don’t, you could miss out on major opportunities to grow your brand or incur unnecessary expenses. So whether you offer a product, service, or information, follow the tips below to create a thriving online business at your own price.
Market Research
Business experts will tell you that it is much better to start with a target market and create a product for it than the other way around. If you try to create a product first, you could end up aiming completely the wrong way. The end result is spending countless hours, money, and energy on the wrong angle.
To avoid this mishap, carefully conduct market research by using a variety of free tools like Google Keyword Planner or even Amazon to get a sense of what products and topics are popular and selling the most wares. Also take into consideration the amount of funding you have to compete.
As a general rule, the more specific your niche is, the less you will have to spend to reach your target market. Once you have decided on your niche, you can start iterating on your product and build a website to direct visitors to.
Validation
With your ideal market in mind, you are ready to start validating your business. Luckily, you don’t need to spend a lot to do this. With a simple system of ads and a website, you can be in business in no time.
The key here is to validate your idea before you spend more money on it. The quickest and easiest way to do this is to create a website that offers your product. Describe in detail what you offer, how it is different, and how prospects can acquire it. However, don’t invest in heavy overhead like inventory or hiring just yet. See how many sales you actually get, then fulfill it on the back end of your business system.
If you don’t reach your target sales number to make your idea profitable, simply refund the customers and send them an apology email. However, if you do get the sales you hoped for, invest further in the making of your product, service, or software now that you have proven, validated interest.
Hosting
One of the keys to keeping your costs down when building a business is your hosting provider. This is the company that actually serves up your website when a customer types in your URL into the address bar. Don’t just go with the first company you see. Instead, use the many resources available to compare and contrast hosting sites and make your decision as to which fits your company goals the best.
The better hosts out there will serve up your site faster. This means that customers won’t be frustrated as much by waiting around for the page to load. The direct effect of this is better engagement and ultimately more sales for your business.
Traffic
You can’t simply build a site and expect customer to find it. You need traffic, as it is ultimately a numbers game when it comes to converting customers online. You have multiple options when it comes to traffic.
The most popular traffic sources are Google AdWords, Facebook Ads, or SEO. AdWords are the paid ads that appear when you type searches into Google. This can be expensive, but often worth the price if you learn the platform well enough.
Facebook Ads are becoming more popular because you can search very specifically for demographics that fit your ideal customer. Thirdly, there is SEO. This stands for Search Engine Optimization. It is the art of including keywords and keyphrases on your website that people in your market are likely to be searching for.
Google will then rank you for certain searches containing these keywords. However, keep in mind that SEO is free but it isn’t as fast as the paid ad methods. If you have more time than money, however, it could be the best option for you.
Landing Page
Throughout your online business career, you will constantly be directing potential customers, readers, and clients to your company’s website. This main page is called the landing page. The landing page is one of the most important aspects of your site says Phil Singleton CEO of Kansas City Web Design. To be effective, your landing page needs to quickly motivate customers and direct them to buying your product.
Attention
First of all, it must grab attention right off the bat. In today’s busy world, your customers are distracted with social media, apps, and everything in between. Include an eye-catching headline that mentions a major benefit of your product or service at the very top of your page. It is the beginning of your sales funnel and without a great headline your prospect will never read the rest of your offer.
Interest
Your job is not over once you have captured their attention. You also need to use empathy and understanding of your customers to speak directly to them and engage their interest.
Start talking about the problems or voids they are experiencing right away. This way, your visitor will feel like you really understand their needs. As you maintain their interest, you open the door to more sales in your business because you are priming your visitors for a crucial step: desire.
Desire
Once you have captured attention and built up interest, you must instill a strong desire in your market. Your online business depends on people having enough of an emotional investment in your offering to go with your company over the competitors.
To build desire, drill down on the main problems your market is experiencing. Also paint the bright side of the results you can achieve for them. For instance, if you have a business that solves back pain issues, point out the consequences of continuing with back pain and not solving it. If you sell red basketball shoes, describe the positive features and how great your customers will feel when owning them. Remember that desire is all about emotion, so use appropriate images that capture the attitude of your brand as well.
Action
No online business can survive without getting action. Action is the heart of sales, subscriptions, seminar attendance, and everything inbetween. To invoke action, always end your landing page with a direct demand such as “buy now” or “click here.” You don’t need to reinvent the wheel, rather you need to be clear about exactly what you want your online visitor to do so they don’t hesitate. Hesitation equals lost sales.
Testing
To truly achieve success in business online, you must constantly test. With so many free resources and strategies, there is no excuse to shoot blind in the dark. Constantly see which headlines, offers, pictures, and products will perform best. That way, your business will get you the results you truly deserve.
When it comes to creating an online business, it is vital to use the right strategy. Without it, you could end up going in circles and spending more than you have budgeted for. To avoid this pitfall, use the proven and time-tested techniques above. Then, sit back and enjoy a profitable and scalable digital business now and into the future.