The
eight-fold path
to building and
maintaining an
online business
is simple and short.
By
Kevin Taylor, MBA
CEO and President, KT Graphics LLC.
1. Demand
and supply.
A common
mistake most agents
make in the marketing
business is trying
to sell a product
for which the demand
barely exists. The
idea behind marketing
is to first find
the market for
a product before
starting its supply. People
only search online
for products they
actually want,
and selling something
online that the
average customer
is not searching
for is as good
as not making a
sale at all. Thus,
to begin with,
one needs to find
a group of individuals
with a dilemma
they need to make
sense of and resolve
it for them.
Fortunately, market
research is made
a whole lot easier
with the existence
of the Internet. All
one needs to do
therefore is, when
visiting online
forums, to see
what kind of questions
people ask and
what issues they
need to solve,
to try and analyze
the ‘keywords’ they
use when they search
sites and visit
potential competitors’ websites
making a note of
what they do to
supply this demand.
On figuring this
basic factor out,
one would have
thus effectively
used the knowledge
learned to create
a product for an
already existent
market and supply
it better than
existing web businesses
do.
2. Sales
copies sell.
Selling on a website is done,
not through actually human contact or telephones,
but instead through the sales copy on it
that will take site visitors through the
whole sale process the minute they click
online.
To keep things
simple,
- Make sure the
website has a
catchy and appealing
caption
- Outline the
problems the
product can resolve.
- Include testimonials
from customers
who have used
and appreciate
the product.
- Explain the
use of the product
and how it is
beneficial to
the user.
- Ensure that
there exists
an offer or a
guarantee.
- Create a sense
of urgency regarding
the need for
the product.
- Ask for the
actual sale.
Lastly, no product
is better sold
unless one puts
himself in the
customer’s
shoes, thinks of
reasons why anybody
would want this
product, and makes
sure the website
details how this
product is unique
and its service
is able to solve
people's problems
or make things
better.
3. Web
design and layout.
After
steps 1 and 2
have been completed,
one would now
have the ideal
market and product,
and with the
basic selling
process marked
out, all one
would need to
do is build a
website.
With the website
being the online
equivalent of a
store window, make
sure it is simple,
brief and customer
friendly. Websites
tend to have 1/6th
of a minute within
which to grab the
attention of a
visitor before
the visitor moves
on.
The following few
pointers should
help with a more
user-friendly website:
- Font should
be normal, plain,
sans-serif font,
like Arial, on
a basic white
background.
- Navigation
bars on the website
should be clear
and easy, staying
consistent throughout
the website.
- Space should
be optimized,
using graphics
or audio or
video only
when necessary
and only if
they augment
the message
on the website.
- Adding an opt-in
offer so to collect
e-mail addresses
is always a plus.
4. Targeting
buyers through
search engines.
The only
way to increase
traffic to a new
website is through
pay-per-click advertising
Traffic to the
website automatically
increases, but
in addition one
can figure out
the keywords that
work best on search
engines, and use
them throughout
the copy and code
of the website
to help its natural
search results
ranking.
5. Authorized
reputations and
increased web traffic.
While an average individual uses
the Internet for information, the more information
one’s website provides for other sites
to use (including a link returning to one’s
original site), the greater the increase
in number of hits to the website and improved
search engine rankings. Easy ways to
ascertaining one’s reputation, as an
expert, would be
- Handing out
freebies, anything
from articles
and videos
to other information;
presenting
that content
on online article
directories
and social
media sites
more often
than not leads
to increased
traffic on
one’s
website.
- Adding links
to “send
to a friend” on
the website's
valuable content.
- Taking an
active part
in industry
forums and
social networking
sites where
one’s
original target
market tends
to focus.
While the number
of new visitors
would certainly
increase, linking
one’s website
from sites with
relevant content
or sites that use
content from the
original website,
automatically helps
increase search
engine rankings.
6. Email
marketing and
potential customers.
One of
the most valuable
assets online businesses
bring is, with
the existence of
an opt-in list,
the authorization
to send website
visitors emails
regarding products
and newsletters. The
main reasons marketing
via emails is so
important are:
- Emails give
future buyers
information on
something they
have queried
about.
- Longstanding
relationships
with individuals
who are part
of the target
market can be
formed.
- Response to
emails is always
measurable.
- Emails are
much more effective
than television,
radio or print
advertising for
the simple reason
that they are
cheaper and target
a select audience
who are actually
interested in
its content.
- The whole emailing
system to individuals
in the target
market can be
almost completely
automated.
Leads can be built
up with any single
visitor to the
website who opts
into the site list,
and these leads
thus effectively
followed with a
simple email to
that visitor.
7. Existing
customers and
upselling.
While
statistics say
that at least 36%
of customers who
have purchased
once will probably
buy from the same
seller again if
there has been
follow up.. The
most difficult,
and also costly,
task would therefore
be to close that
first sale with
a customer. A
few effortless
methods to ensure
back-end sales
are:
- Ensure that
products being
offered to existing
customers augment
their original
purchase.
- Enable giving
out electronic
loyalty coupons
that buyers can
redeem on their
next visit to
the website.
- Enumerate
related products
to the one
already bought
on the "thank
you" page.
Always remember
that rewarding
customers for loyalty
ensures that they
will stay loyal
and constantly
return.
8. Affiliates
and revenue.
With
the online business
now running,
one can officially
launch an associate
program. These
affiliates would
promote one’s
products on their
website for a
cut of the selling
price, where
every buyer from
their website
would ensure
that one would
have to pay the
affiliate a commission.
Affiliate programs
are easy low-maintenance
ways of expanding
one’s business. Upon
getting the program
set up, the only
thing left to do
is to share marketing
material with the
affiliates and
ensure that payments
are sent out when
sales are made. This
would save all
the money spent
on marketing and
advertising, where
the affiliate would
do all the advertising,
and payment would
only need to be
made when there
has been a sale.
With the Internet
changing at ever
so fast a pace,
the ideology behind
a successful online
business has essentially
remained the same. When
beginning a new
online business,
follow the eight-fold
path of the online
business guide
with a quick review
every once in a
while to make sure
no steps have been
ignored, and success
will be just around
the corner with
the right fundamentals
in place.
|
