The U.S. Small Business Administration estimates that more than 580,000 small businesses will start up this year. Unfortunately, about 576,000 small businesses will fail during that same time period. So how can entrepreneurs hedge the odds in their favor? One way is to start a Web-based business or take your current business online.
Internet businesses sell merchandise, services, information and most anything a traditional brick-and-mortar business can sell-but often with a smaller operating cost because they only conduct business online. Brandon Lewis, president of StoresOnline, offers these tips to help online entrepreneurs make the most out of their companies:
Know Your Audience
A common online marketing mistake is to try to target too many audiences. There are 938 million users on the Internet. Marketing to all of those eyeballs is simply not effective and can be very costly. If your target customer group is women ages 14-27, it does you no good to spend time and money marketing your site to men ages 55-90. Take the time to find your customer and then customize your approach to people who actually search for and therefore want to buy your product or service.
Build A Second Site
A second common mistake is to have just one e-commerce Web site. Instead, you should build several sites that appropriately customize your sales approach to different audiences. This allows you to effectively sell the same product to different target groups using unique messaging, design and tone. One way to do this is by building a second site in a different language. The site can more easily be searched by customers according to their language-specific search terms and can help increase your revenue.
Get Specific
Try to avoid marketing dissimilar products on the same site. This will let you take advantage of the way Web users tend to search. People shop on the Internet by looking for specific items or categories of items. Selling tools and bedspreads on the same site will lower your search engine rankings and cause you to lose sales. Instead, start off selling one type of product and sell it well. You can always branch out in the future.
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Are you a victim of time-impoverishment just as one is cash-strapped? Then an online business opportunity is an easy solution to help you balance your personal life and make some fast money!! An online business opportunity not only offers great growth prospects but also has no time restraints. So how does one get started?
Few guiding steps follow:
- Make sure that you are geared with the right tools to run the business on your mind. First requirement is a good computer. Computers today come in numerous configurations: laptops, desktops, media centers, business machines; but what is to be kept in mind are speed of the computers, storage capacity, portability etc. consult a technician to get the machine that best suits your needs.
- Next you need a work-space, depending on what you are most comfortable in. Furniture, telephones, printers, general office supplies are few of the basic requirements.
- Next on list is high-speed Internet connection. Online business demands good deal of time spent online doing basic research. For that if you have to wait for eons, it can be quite putting off.
Once through with the settings, you need to go about doing some research to find a great online business opportunity. Countless websites offer scores of online business opportunities.
Some things that are to be kept in mind include, availability of ample marketing support in terms of site promotion. A complete back office system with a strong customer support where one can view his stats. Do not collaborate with a company that does not have a strong customer support. The choice of the right ‘sponsor’ is of utmost importance. He should be available to help you expand your online business. Ask him certain basic questions like:
“how long have you been with the said company?”, “what is it unique about you that others won’t offer?”, “how much do I need to spend for marketing?”, “what has been your success rate” etc.
Be careful & attentive while these questions are answered and go ahead only if you think the person is making genuine claims.
It is true that one does want to get off to a good start, but one should never be hasty. Weigh your options, be thorough and meticulous with your pursuits and your online business would be a success indeed!