Most of us don’t have time to learn all the intricacies of building an online business from scratch. There are products to create, things to learn and systems to implement. What if we could surpass all the hard work, get access to a functional sales system and just start selling? Fortunately a lot of the hard work has been done for you already. There is still work to do of course, but much of the process has been created already for your convenience.
7 Steps To Build A Lucrative Online Business
- Step 1 is to get your own fully functional sales funnel. A lucrative online business operates largely on autopilot because of the sales funnel. By sending subscribers to a landing page, they opt in to receive some information. This is usually an ebook, video series or piece of useful content which helps the subscriber. Once in there is a series of emails which is delivered on autopilot to the subscriber. By offering value and delivering useful products and services to subscribers, the business owner can earn commissions. You don’t need your own products and this system is already set up for you with a full range of products. Use a sales funnel with built in monthly commissions, back end products and a built in sales team like this one.
- Step 2 is to send people to your funnel, which you have created in step 1. Once you have a sales page you can collect emails and send people down your sales funnel. To get them to your page you need to advertise it. You can do this in several different ways. The basic tactics for sending people to your sales funnel are paid advertising and content marketing. You can learn all aspects of marketing your sales funnel through this digital education platform. You can also get your funnel up and running at the same time.
Your Marketing Engine
Even though all elements of your online business are in place, you still need a driving engine to get people to your landing pages and into your funnel. This doesn’t happen on its own.
3. Step 3 of building a lucrative online business is to build a marketing engine to drive visitors to your landing pages. Although the first two steps have already got you up and running with a working sales system, your job is to send qualified leads through that system. Unless you build a continuous flow of qualified leads through your landing page, it will be difficult to make any sales.
4. Step 4 is to test and measure all your marketing campaigns. You need to test, test and keep testing. Once you have created your first advert, you need to test all elements of that advert. If it’s content you are creating you need to share your content to get it seen. You can also target keywords in your campaigns to get found on Google. This takes time and can be tricky. See my book Niche Blogging For Profit for more on this. Spending on advertising can be costly and content creation can take time. Not all content will get the same amount of visits and not all advertising will pay off straight away.
4. Step 5 is to learn from your advertising efforts. Unless you continually learn from your mistakes you won’t make progress. Test and measure your advertising campaigns until you have a good profitable campaign. This might not happen at first so start small. The same applies to your content creation. Look at which articles and videos have been successful and copy that success. You can also learn from content which hasn’t done well. Keep looking into your results and improving them. Each time you learn a better strategy you can apply it to your business and it will start growing faster as a result. Don’t assume your business has failed just because a single marketing campaign doesn’t work. Don’t give up too easily.
Vary Your Advertising Methods
6. Step 6 is to try different methods of advertising. Stick with a single strategy until you have some success and then branch out. Article marketing is a good low cost advertising method to start out with but will take time. Use Facebook advertising, Bing, Yahoo, YouTube, Adwords and email marketing. Try different methods in each category. Don’t just write an article and post it on your site.
Share it on social media, write on Ezine articles to promote your content and get found, try changing your strategies and creating content which will get shared. Create useful videos and articles which will help your target audience. See why target market is important. Not all your advertising methods will work. But when one tactic gets traction and you start to multiply your methods, things will begin to work for you. Particularly with paid advertising. If you’re lucky a good piece of content can go viral but a paid advertising can be scaled.
7 Step 7 is to scale your advertising. This is the most exciting aspect of an online business. With an online business scaling is possible. Once you have tested and measured a paid advertising campaign with a small budget, and got positive feedback, that is the time to scale. As long as your advertising has already proven itself to bring you a profit, you can simply turn it up and reach a larger targeted audience. If a $1 advertising campaign brings you $2, simply spend $100 to make $200 and so on. It then makes sense to continually spend more on advertising to bring a greater profit. As you test and measure with various campaigns, you can scale multiple advertising campaigns to bring a greater profit.