How To Turn Your Business Idea Into A Real Online Business (Start Today)
|June 3, 2012||Posted by Louise under How To Start A Business|
Start Using This Simple Formula Today
So, you’ve researched and whittled down your list of possibilities into one great business idea that will allow you to make money at home. Great! But what do you need to do now to turn that great idea into a viable and profitable internet business? A very normal question when you’re getting started.
The great news is you can get started right now. There’s a simple formula that many online businesses use to generate profits that you can apply today. It’s very basic and when you see it, you’ll probably say well that’s so easy, I could have figured that out.
But you won’t need to figure it out. It’s all here for you; apply it and focus your energies instead on your product or service and the areas within the formula that need your personal touch.
Simple Formula To Market Online
So here’s the formula in a bubble diagram:
Upon further explanation, you’ll soon see how these bubbles interplay.
#1 Have a Product or Service
If you’re reading this, you probably already have a product or service. You just want to know how to turn it into a business and some financial reward. Note that this product could be your own or someone else’s, such as if you promote and sell using affiliate links.
#2 Your Website
You’ll need a headquarters or storefront for your online business. This would be your website. Shoppers, browsers, and curious cats who want to find out either more about your product (or service) or want to read more of your content will wander to your website or blog. (By the way, for the sake of convenience, I always use websites and blogs interchangeably.)
To profit from your idea, your website should at the very least contain these:
- Lots of relative helpful content (content that matters to your readers);
- Your product or services listed and described with a squeeze page (sales page where shoppers can buy); **
- An optin page where you offer a free product such as a report, ebook or video in return for reader’s email address (I’m sure you’re familiar with these);
- For an additional income stream and to help your readers further, you could complement your product with others’ quality products.
**Now if you’re idea doesn’t involve offering your own product or service, but instead lots of quality content to your readers through which you promote affiliate solutions like books from Amazon, online fashion or home décor, that’s fine. You can skip the product squeeze page.
#3 Your Email Optin & Freebie
As stated in the website requirement list above, you need to offer a helpful free product or service to your readers in exchange for their email address. Make certain that what you offer is quality. Otherwise they’ll either unsubscribe from your list or never read your emails. Neither will bring you any traffic or build a relationship, which is the whole point of the freebie/email exchange. You’ll need an email service (often called an autoresponder) to create the sign-up form (also called an opt-in), to collect email addresses and to send email messages to your list.
#4 Related and Helpful Content
You must provide readers with quality content, meaning content that’s related to your market’s problem or wants and that’s helpful to them.
You don’t have to be a professional writer or have a PhD in English Lit to produce quality content. So don’t let the word “quality” scare you! You just have to be a good communicator and keep your readers interested by writing what matters to them.
A few ways to keep them interested is by answering their questions, providing solutions to their problems and keeping your content fresh. This can all be achieved with easy wording and with visuals like images and videos. And to keep it fresh, you’ll want to keep adding new content on a regular and frequent basis.
#5 Relationship Building
The orange arrows in the above diagram, describe this step. This is where you talk to the readers on your email list and to readers in general online in forums other blogs and various social media platforms like Facebook.
Many marketers make the mistake of confusing relationship building with promoting. They get their reader’s address and then start sending pitch after pitch, always selling something. How annoying! That is the best way to drive away your readers and end what could be a very rewarding relationship, for both you and your customer.
Relationship building involves building trust. How do you do that? Offer lots of helpful and engaging information with promotion as the side plate only. According to Frank Kern, a top name in internet marketing, your emails should contain these elements in these amounts: 5% entertainment, 90% useful content and 5% sales. Useful content is the main course. The skinny: send more useful content than promotions.
Now you have many opportunities to build relationships with readers online. Three main locations are:
- your website, where you provide related helpful content to your market and promote your offer;
- your email list, where you send helpful information on regular basis via email (with the occasional promotion);
- and on forums and related blogs where you leave useful posts and comments while taking time to get to know your market and letting them get to know you.
#6 Create Traffic To Your Site & Optin Page
You won’t get anywhere if no one is visiting your site or your optin page. You have to adopt some traffic methods. This is a big topic. There are whole sites and products dedicated to helping you achieve this. I’ll start with a few easy methods to get you starting a traffic flow.
- Go to forums and other blogs that are already receiving traffic from your market. These are locations where your market can find you. Post some more helpful content in the forums and leave useful comments on related blogs.
- Syndicate your writing. Contact related blog owners and online magazines, and offer to write articles in return for credit and a link to your website or optin page. If their readers enjoy your articles, you’ll notice more traffic flowing your way.
- Open a Twitter account. Place a Twitter button or link to your Twitter page on your blog and in any forums you frequent. Write a good and snappy description in your profile about your business and start to post interesting bits of information or links to media that would interest your market. Then “Follow” other people on Twitter who could be interested in your product. You’ll see that a good number of them will Follow you back and some of these will head to your site. You can also follow others active in your niche or related to it. This can lead to interesting opportunities like guest posting on each others blogs, for example, which can also lead to more traffic.
So, that’s the general formula used by many online entrepreneurs to service their market and generate profits. It’s simple, yet still demands some effort on your part to make it happen and put all the elements into play.
But once you do have these steps in place, you’ll soon witness the beginnings of your online business, start to enjoy the freedom of being your own boss, and very importantly, begin to make money at home.
Now, what about you? Have you applied a formula to set your business machinery in motion? If not, does this one sound right for you? Leave your comments or questions below…
Love what you do!
Sign up to get articles like this in your inbox for free!
SweetLife Business newsletter.