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April 14, 2015

How to Make Your Online Business Soar

Filed under: Business Practices — Aric Mitchell @ 3:41 am

financial  investmentMore businesses are moving online today than ever before. It’s no longer a question of SHOULD one have an online presence, but how big should it be? Should it be the primary venue for the business or just a tool for marketing brick-and-mortar? If you are of the belief that there is more money to be made online than in the real world, then here are some quick tips to get your business off the ground and soaring straight to the stratosphere.

1. Build your email list.

This is the most important tip, so we’ll stick it right here at the top. Numerous studies have shown that email is much more valuable in a dollars-and-cents comparison than social networking or advertising on a social network. People are much more apt to open a message if it lands in their personal inbox, and if you have a way to collect addresses in an opt-in fashion, then you can be guaranteed that the people on your list will want to hear from you. The best way of building your email list is issuing free products (digital products like eBooks or webinars recommended) and having a stipulation that if they want it, all they have to do is submit their address. Oh yes, and make that freebie something that really delivers and isn’t just hype for a larger paid product.

2. Podcast.

While a good blog can still go a long way in building an email list, a podcast is a great way to push a lot of valuable content without spending all day writing and editing what you have to say. Podcasts are popular, and they are a great way to deepen the relationship with your audience while convincing them of your sincerity and expertise. A great podcast will get people to your website, to your giveaway, and to your contacts list.

3. Have an up-sell.

While a freebie and a wealth of information is great for collecting emails, you’ll never reap the benefits if you can’t get people to part ways with their money. One of the best ways of doing that is to know what you’re good at and then create a paid product or service that capitalizes on that knowledge. You could also have a physical product that makes people’s lives easier or more productive. Either way, make sure what you’re selling is something that will scratch an itch your client list has, and don’t be afraid to charge a premium price. When you’re connecting with people on a personal level, it’s easier to create products they truly value.

4. Finally, keep overhead low.

Overhead in an online business doesn’t have to be a lot. You don’t have a storefront to maintain, and often times you don’t need employees. If you do need outside help, there are great websites and companies throughout the online ecosystem that can do a good job at a much cheaper price than a full- or even part-time employee. Take advantage of that fact!

Do you have a successful online business? What are some of the tips that you have for making the most of this revenue stream? Share in our comments section.

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