You know what really makes all the difference in your online business?
To make it a success, I mean a real PROFITABLE success, you’ve got to make a serious commitment.
Now, I’m not talking just about putting in time and effort and trying hard over the long run. I’m talking about a commitment of knowledge, planning, and execution.
Many view the Internet as a place to score BIG profits without having to put into effect the same kind of practices necessary in traditional business.
The excitement over Internet marketing is about quick profits and big returns, NOT about marketing plans, research, and customer service, right?
Well, maybe so, but the most successful online entrepreneurs aren’t skipping those and other necessary functions. They are making use of good business procedures, just as any offline business has to do, and they are coming out farther ahead.
In other words, they are operating a business, not indulging in a hobby.
With that in mind, let’s briefly review each of the segments you need to focus on in order to position yourself to succeed.
IDENTIFY YOUR CUSTOMERS
Traditional Internet hype would have you believe anyone and everyone online is a potential customer. Well, potentially maybe, but realistically, no.
You need to identify those with the right kind of interest, status, and capability for purchasing your product. For example, while everyone may want to own a luxury car, targeting those in a $20-25,000 income bracket would be useless. While you’re promotions may get them to dreaming, they won’t have the capability of buying so you won’t be making sales.
Identifying your customers is the first step to improving the return on your advertising dollars. Target those not only with an interest in your product, but with the real capability for purchasing it.
PROMOTIONAL SPENDING
You’ve got to advertise, sure everyone knows that. However, it takes effort, planning, and tracking to learn which promotional methods are the best for you.
Your promotional efforts need to multiply their results. In other words, you won’t get ahead spending a dollar to make a dollar. Your ad campaigns need to bring in more than they cost. Obvious statement, I know, but what’s not so obvious is how to pull that off.
It takes a little research. As mentioned above, start by targeting the right prospects. From there, remember to specialize your advertising to lead potential clients in the direction you want them to go right from the first contact.
For example, if you set people up to retrieve free information from your site, most likely that’s what they’ll do since that’s what you’ve got them looking for. If you want them to buy information, instead, head them toward that end from the beginning.
Tracking your advertising is critical as well. You need solid results that tell you where to spend future promotional dollars. DON’T skip this step. Not ever.
COPYWRITING
At some point, whether in an email, on a site, or even just in a classified ad, you’re going to have to do some copywriting. Not spending time learning how to do it well is about as smart as entering a shooting match with bullets that don’t fit your gun.
The words in your ads, emails, and on your sales site ARE your direct link to your customers. In only makes sense to make those words work well for you.
RESEARCH
There’s always more to be learned. Research your customers. Find out what makes them buy or not buy your product. Track results of your advertising. Identify your mistakes and learn to capitalize on your success. Look for new markets, ways to increase sales or reduce expenses, and tactics that can give you a better advantage.
Don’t fall for the hype that suggests there’s nothing to running an Internet business. Little effort equals little results in any aspect of life.
FREE PUBLICITY
Besides paid advertising, any business can learn to take advantage of free publicity. Word of mouth from satisfied customers can lead to powerful promotion for your business. However, it won’t benefit you as much on it’s own as it can if you learn how to encourage it and best take advantage of it.
Simply providing your customers an easy opportunity to refer their friends is one method. Creating an affiliate program is another.
Other methods include providing the media something of interest to report on your business and thereby creating exposure for yourself through their coverage.
CUSTOMER SERVICE
Solid customer service is crucial to creating repeat customers and inspiring those customers to refer others to you. This is NOT an area to slack off in if you want your business to continue to be successful in the long term.
STAY ON THE LEADING EDGE
Things change, and on the Internet they can change quickly. It’s important to always be looking to the future and making plans for it.
Staying on the leading edge means keeping on top of all aspects of business mentioned above and integrating them in the best way possible. Sure, much of an online business can be automated, However that doesn’t mean things can’t be improved for the future or updated regularly to keep repeat customers interested.
There’s a LOT more to running an online business than the typical Internet hype suggests.
Don’t make the same mistake so many have and treat your online business like a hobby project unless that’s all you want out of it in the first place.
All businesses require constant attention in order to grow. Remember, the one thing every business needs is continued exposure to NEW potential customers.
The areas mentioned above are key to finding those new customers. Not just one of them, not just a couple, but ALL of them.
Your business may never experience the growth you wish it to, or just plain fail, if you ignore any of these necessary functions. Conversely, further developing those you’ve not previously focused on is a great way to experience sudden growth and profits.
Don’t play the Internet hype game and wait for big profits to come from little investment.
It’s time to do more.
Written by Joe Bingham of the NetPlay Marketer
Joe has written many articles, both informational and humorous,
with the intent of helping others gain a better understanding of
Internet marketing concepts. His ‘tell it like it is’ approach has
many offering the NetPlay Marketer as one of their most favorite
ezines. See for yourself at: http://www.netplaynewsletters.com/
