Why is planning so important? Just take a look at those dot.com failures in year 2000. Many of them failed because of poor planning! Some of the factors contributing to their failures included not knowing the market, the competition, and the environment of the business. These could be avoided with proper planning. It is essential in today’s world of internet marketing that detailed planning be conducted.
The following steps are useful to your planning:
Research is the first key step in the process. It is necessary for you to know your product, your competitors, your target market, and what each of them provides to its consumers. In this planning phase, list the benefits and the potential disadvantages of the product that you are selling. In this way, you actually foresee the potential problems and you can develop corrective measures to handle such issues.
Next, you need to decide what type of campaign you will run for your business. You need to consider your budget, your staffing needs, the time-frame for the marketing campaign, just to name a few. There are other questions that you may need to ask yourself depending on your situation. From the questions and answers, you can determine any limitations and any tough issues that you need to overcome in order to effectively launch and carry out your marketing campaign.
After you launch your campaign, you can’t just sit back and relax. You need to monitor its impact. There are various methods for monitoring the effectiveness of a marketing campaign. But there is none more critical than the results of your first sales and customer feedback. These provide meaningful data that you can use to fine-tune your business strategy.
What’s next when the campaign ended? It’s time for a post-campaign review of the entire process. Remember, your review must be as complete as possible. Look at the areas of excellence – you can make use of them in the next campaign. Do not overlook the areas where there are signs of trouble – you need to work out preventive measures for the next campaign. Well, marketing is a learning process. You can learn from the wrongs (i.e., the mistakes) and enhance on the rights (i.e. areas of excellence). In this way, you will be more comfortable and confident in your next marketing campaign. And most importantly, you will get your focus right!
This article is a very compact overview of the planning process. At each step of the process, bear in mind the strengths and weaknesses of your business, your resources, your product and your target market. This understanding and awareness will help you devise an effective plan, a plan that will see you succeed in internet marketing.
For more detailed information on a successful online business strategy, follow this link to discover the mentors I used for my online success.
Creating and running an effective online business is realistically comprised of several hundred, rather than 6, but this will serve as a guide for the direction of your efforts. Contrary to what you may hear rampantly on the Internet, there is no cookie-cutter, get-rich quick scheme on the web. Not only is every online business different, what works for one person or in one month may not work for another person or in the next month.
The Internet is constantly changing, and the online market is inherently different this year than it was last year. New technological improvements occur monthly, and impact the online business environment. What works for one individual when he is the first to sell a certain product a certain way may not work just six months later when he has sold his idea to 40,000 other marketers, and they all begin to promote it. Traffic generation tactics are significantly different than they were just a year ago, and hardly resemble profitable strategies three years ago.
These 6 Steps are simply the bare-bones skeleton of what has to happen for your online business to be successful. They are foundational, and although the implementation strategies are different today than several years ago, the basic steps remain the same.
1. Develop or discover a product. You must find a product that meets today’s needs. A 5 year old product whose resell rights you can buy for a dollar or get for free probably won’t meet the needs of today’s consumers. You must be willing to pay for the rights to sell a current , useful product, or become an affiliate marketer, where you promote a popular product, and in exchange are paid a percentage of the income from the sale.
2. Determine how the potential customers can view your product and see a sales presentation. If you develop your own product or purchase the rights to sell someone else’s, you will need a website. A few tips here: Rather than accept free web hosting, purchase your own domain name and pay to have your domain name and web site hosted by a professional web hosting company with a reputable history. If your free web hosting company goes bankrupt, they generally take your fledgling business with them.
3. Once you have your web site up and running, unless you are using an affiliate program that supplies a sales page, you must develop a sales script and web copy. Aside from your web hosting decision, this is probably the most important thing you can do. You may be tempted at first to write a sales pitch on your own, but unless you already have a lot of experience in the offline market writing effective sales letters, you need to, absolutely must, invest in a few courses on web copywriting. Be willing to spend some money upfront on learning this skill. Too many marketers try to wing it in this area and after a few months of losing money online, finally break down and purchase the knowledge to write a good sales pitch. Do it the other way around—buy the knowledge first, and start making sales from the beginning. Customers will not buy just because you have a web site—they buy from the web site that does the best job of convincing them it has the best product for their need.
4. You must develop a traffic source that works. When you first begin, you may be on a shoestring, and that is OK. Assuming you have been willing to spend some money on sales letter writing and a decent web host, you may be able to skimp in the traffic arena for awhile, if you have plenty of time. If you do not have money to advertise, nor time to seek out low cost advertising, you probably shouldn’t be attempting an online business. If you do choose to go the low-cost route—know two things up front—the returns are really low and you will spend vast amounts of time on traffic generation. Once you begin to make sales, you must invest your income in paid forms of traffic generation. If you do not, you will run out of enthusiasm for generating the free traffic, and without reinvesting the income from your first sales into advertising, you are sure to fail. Good sources of low-cost, but time consuming traffic are: writing articles and posting them to article directories, low cost classified ads, and ezine ads. You may see hyped-up ads for thousands or visitors for a low cost or millions of banner ads for another reasonable price—both of these methods may have worked 2 years ago, but they are a sure waste today.
5. Once you begin to get traffic to your online business site, you must keep detailed records of where the traffic comes from, and what percentage of visitors from each source are purchasing your product. If you have visitors that cost you $50 per hundred to come to your web site, but on average they only purchase $25 per hundred visitors, the income may feel good, but you are not profitable, and are losing money. By tracking your expenses on each type of visitor and by tracking your revenue on the same sources of visitors, you can determine which campaigns need changes or need to be eliminated and which need to be increased in intensity.
6. By following this pattern of steps, and by keeping diligent records (there is plenty of good web site tracking software on the market that can help you do that), you can develop a profitable online business. Again, it will not happen overnight, and you will not get rich quick. However, if you build a solid online business with a solid foundation, and are willing to spend some money learning how to do it right, you really can become successful in business online.
If you want to discover even more steps to improve your online business success then follow this link to discover the mentors I used for my online business success.
A characteristic of many successful businesses (both online and off-line) is that they have a vision for their business. They know what they are working towards, and they are creating a business that will be like their vision of the future. It is always a good idea to stop every so often and reconsider what your vision is for your business.
So how do you create a vision for your online business? The first step is to ask yourself what you really want to create with your business. Imagine the ideal business that you want to own. Do not be distracted by what is or is not possible and do not evaluate whether it will work. Just consider the possibilities and how aiming for what you want will be unique to you. No one else will be able to copy it because it will be yours.
Some people will be inspired by a desire to create something new and different. Others will want to create a second income. Some will want to create a new shopping experience for their customers while others will want to create new products or services that better meet the needs of people today. Others may just want to get rich.
Once you have imagined your ideal and have a vision of what you want, spend some time considering how you will make a difference. Will you be setting a standard of customer service that will be the envy of other businesses? Will your product or service meet a need so fully that your customers will tell their friends and generate business for you? Will you be an inspiration to all those who come in contact with you so that they will want to stay in contact and follow your recommendations? The list of how you can make a difference is endless.
Write a short statement setting out your vision for your business and how you will make a difference. If your vision is based on assumptions, spend some time testing those assumptions to make sure they are valid. Keep the vision before you so that it guides your decisions and plans for your online business.
Make sure you breathe life into your written vision statement. Use powerful language that is strong on stories, or metaphors or examples. Ensure that you speak from the heart and work to make the intangible tangible. Use symbols, themes, slogans, etc., to make it come to life and be real for you, your employees and your customers.
As you move towards your vision, ensure that you listen first and often. Your customers and your employees will be able to provide you with ways to achieve your vision through their feedback. Listening in a non-defensive and uncritical way can be very enlightening which will enable you to be better able to define the needs of your customers and to satisfy those needs.
Over time, you will need to adjust some of your actions and tactics as they will not be taking you closer to your vision. Through listening to the feedback you have received, and monitoring the results you have achieved, you will know which actions or tactics need modification or change. By way of a simple example, the results of an ad may improve with one headline but not with another. Change to the one that is providing better results.
Some businesses have experienced tremendous success through having large audacious goals. Remember that large goals can take a long time to achieve. However, if your vision is driving you strongly, you will thrive on taking the actions required to achieve your vision over a long period of time. Also, some visions are so powerful that they rewrite the industry rules and create a new competitive space.
Make the time to develop your vision for your future online business success. Know what you want to achieve and ensure that all your actions are taking you in that direction. Listen to the feedback you receive and monitor the results you are achieving so that you can change tack if necessary as you move closer to your vision. Dare to be different and to make a difference with your online business.
If you are ready to take your business to the next level then follow this link to discover the mentors I used for my online success.
The Internet is a vast sea of online business opportunities, and if you get lost on that expansive ocean, then you’re going to be adrift in the middle without direction and will eventually drown. In online business, as well as any other business, really, focus is your compass.
If you know who and what you’re targeting, you’ll be able to head straight for it, without getting distracted by the other ‘ports’ that won’t buy what you’ve got on-board. Here are a few things that you should really focus on in your online business so you won’t be set adrift.
FOCUS YOUR ONLINE BUSINESS ON A TARGET AUDIENCE
Before you can start marketing your online business, you really need to know who is going to utilize your business. If you’re selling something, make sure you know who will want to buy it. If you’re operating a blog, make sure you know who is going to read it. Once you know your online business’s target audience, you can begin to market to them. When you’re marketing, make sure that you are marketing to your target audience.
Everyone isn’t going to want your product. That’s an unfortunate truth that many business owners refuse to acknowledge, and they eventually sink. If you know who does want your product, then you won’t waste time or money marketing to the people who don’t. Focusing on a specific, targeted audience can be the difference between success and failure in an online business.
FOCUS ON CONTENT COHESION IN YOUR ONLINE BUSINESS
Make sure that your online business does not stray away from itself. For example, if you have a site that sells nature photography, don’t start selling heavy metal CDs at random. If you feel that heavy metal complements your nature photography well, great. By all means, sell them together. But you have to change both your online business and your marketing strategy so that the nature photography and heavy metal are cohesive and sell together naturally. You have to show, or make clear somehow, the link between the two so that your target audience understands.
Likewise, if you’re running a more information based online business, like a blog, make sure that your content stays cohesive. If your blog is about fiction writing, then keep it about fiction writing; if it is about music, keep it about music. Again, you can introduce other topics to the blog that you feel complement fiction writing or music, but make sure that the links between subjects are clear. A confused consumer is a hesitant consumer, and hesitation is the first step towards not buying something.
FOCUS ON SPECIFIC GOALS FOR YOUR ONLINE BUSINESS
An online business is often the result of a big dream for the future. Without these big dreams, an online business is like a novel without any themes. It may be neat to read, but it has no meaning. Without dreams and big ideas, your online business will fail. But failure is also certain if you get so caught up in that dream that you forget about the day-to-day work that goes with any business.
Make specific goals that you want to reach in your online business every day, every week, every month, and focus on meeting those, not on achieving your overall dream. Goals can be met. Focusing on goals gives your online business overall focus. The time to consider your dream is when you’re making goals. Absolutely make sure that each goal will lead to the fulfillment of your dream, but focus on the completion of your goals.
The concept of focus was drummed into me during my mentor-ship training which helped me ensure that my new online business was on the road to success and by following the strategies I was taught, I was able to launch and grow my success online. The Six Figure Mentors not only provided training but, I was also a part of a community of like-minded successful entrepreneurs who were an amazing support structure throughout my online journey.
Every day more and more people realize their job is not their passion as it keeps them in the just over broke mindset. Time to find your MOJO (My Own Job Online).
The world is now becoming web-based, and almost everything is on the World Wide Web. The Internet is now the way of the world. Are you on the right track? Are you ready for an Online Business?
Everything is now on the Internet. Banks are now e-banking, and more people are finding ways to earn money online. The world of marketing and commerce is not one to be left behind. With the Internet rising as the “information superhighway”, marketing and commerce have now transformed into e-marketing and e-commerce. If you have a business, then you should definitely be in with the trend. It’s the only way for your business to survive, especially in the future, as we expect the Internet to become even more powerful. It’s time to turn your business into an online business.
There is no need to consider this option long and hard. There are plenty of benefits you will get from an online business. The Internet will account for faster and hassle-free transactions, especially with e-banking. More than that, since the Internet crosses boundaries, your online business will be everywhere and anywhere in the world. If you decide to go international, you can even build a customer base from other countries as well. Another advantage of an online business is that your business will be on the Web at all times. You can even make money as you sleep! The best thing is that you can avail of all these benefits and more at a lesser cost than your overhead and operation expenses for your actual business. So are you ready to start your online business now?
Here are some tips to turn your business into an online business. The most typical thing that companies first do when they decide to go online is to create an online presence through a website. Since people now turn to the Internet as the primary source of information, it is also likely that customers will turn to the Internet to look for something they want to buy, or information about a certain product. An online presence will certainly enhance a company’s image. Setting up a company website is not as easy as it seems. It’s not just about coming up with a site and filling it with images and text. Setting up a company website is part of your corporate marketing. Your site should reflect your company’s image, and should be properly conceptualized. Before you create a company website, make sure to read up on the subject a bit more.
Another option is to create an online store, or an online extension of your business. If you are selling something, dedicate a page in your website where people can actually order your products online. This will certainly help generate more sales, since anyone who just happens to come across your site is already a potential customer.
Another way to turn your business into an online business is to advertise on the Web. Even if you don’t want to offer your products for sale online, there is no reason not to advertise them on the Web. There are a lot of promotional products available online. You can choose to display banner ads, which can range from static ads to animated ones. You can also choose to post pictures or videos of your products in online forums. The Internet is a world of opportunities, with no known boundaries. Make sure you exhaust the opportunities out there.
Aside from the more typical methods of turning your business into an online business, there are some methods that bank on more specific Internet-based trends. One of these trends that have further enlarged the opportunities for e-commerce is blogging. Blogging has a wide following of Internet users. Companies, instead of just setting up a formal company website can also create a blog where the products can be discussed in a less formal or indirect manner of selling. A business blog can also contain stories and interesting trivia, which can make readers more interested in the products the company is selling. A business blog is also an easy way to know what people think about your products. Since people can easily leave comments on the blog, you will get the pulse of the people and you will certainly pick up helpful tidbits of information from these comments.
One of the reasons why the Internet became very powerful is its ability to break barriers. This ability will certainly help your business become more successful once you turn it into an online business. Put your business up on the Web and defy limits now!
Does this sound overwhelming? I thought so too until I decided to find mentors that could share their knowledge with me then support me as I grow my online business. The Six Figure Mentors did exactly that.
Find out if my mentors can help you by following this link.