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Secrets to Online Business Success

A comprehensive guide to the secrets behind being successful with your online business.

Customer Should Be Your Top Priority

Customers are king whether it is online or offline business. Put yourself in customers’ shoes and analyze our online business from their perspective. Why would a customer buy from your online business? How are you facilitating your customer and providing them the support they need? Answering these questions will help you improve the overall customer experience and generate more sales.

Plan, Plan, Plan

Another common misconception about online businesses is that you just have to set up an online business and money will keep on coming. This formula does not hold even for brick and mortar stores let alone online businesses. Remember, there are no shortcuts to business success. To grow your online business, you should have a solid plan and strategy in place. It is highly recommended that you have demonstrated a marketing strategy.

Fast Growth Rate

When you compare how long a brick-and-mortar store takes to become successful with an online business, you can see that online business grows faster. What is unfortunate is that very few online businesses manage to create a splash. It all comes down to the first couple of years. If you get off to the flying start then you can grow more chances at a faster rate. Although, some online businesses have achieved tremendous growth even after a slow start that rarely happens.

Digital Marketing and Tools Are Your Best Friends

Social media, SEO, email marketing, and content marketing are all secret weapons that online businesses use to reach a wider audience located in different parts of the world. Add to that the long list of digital tools online businesses use to streamline and efficiently manage their business operations. This helps online businesses to automate many mundane tasks and keep track of everything while marketing their business online.

Deliver Value and Solve Problems

One of the biggest mistakes most online businesses make is that they focus more on selling their products instead of solving user problems. Visit any product page on their website and it will focus more on telling users about its technical specification but not the benefit, as it should be the other way around. Identify the pain points of your target audience and try to solve the problem with your products and educate them by publishing valuable content on your blog.

Focus on Big Picture

Do you want your online business to succeed? If yes, the simplest advice you can get is to focus on the big picture. Think long-term and ask yourself where you want to see your online business stand after five years from today? Business sustainability should be your top priority, which is what most online businesses fail to achieve.

Know the value they provide – and charge accordingly.

You’ll never compete for the long term by undervaluing your products or services. While it may be tempting initially to undercut the competition to make a name for yourself, it’s almost always better to set prices that are sustainable for your business for the foreseeable future.

Grow their list from day one.

Email marketing is an important strategy for all businesses. But for online businesses, it’s vital.  Research is clear that email marketing results in increased click-through rates,  engagement, and sales. Some research suggests email delivers a higher ROI than any other marketing channel. Focus on building your list from day one to see these benefits for your own business.

Solve a real problem.

As with any type of business, finding a real need in your niche is key. What problem or issue can you help solve? Does your product or service truly solve that problem? If not, what can you do to make that happen?

Understand the value of amazing content.

Content marketing isn’t optional anymore, especially for online businesses. If you’re not producing a steady stream of relevant, valuable content, you don’t have a chance of being successful. Not sure where to start? Check out my comprehensive content marketing guide.

Go all in.

Some people think they can build an online empire in their spare time. They put most of their time and effort into their 9-5 job, then fiddle with their business when they feel like it. Successful online businesses are rarely built this way. If you treat it like a hobby, it will stay a hobby. Give your online business the attention it deserves and treat it like the real business it is.

Listen to Your customers.

Don’t underestimate the value your customers bring to the process of growing and developing your online business. Nella Chunky, the founder of hugely successful clothing company Fresh-Tops, believes customer suggestions were key to her startup’s success: “We relied on email requests and suggestions from our social media fans when deciding how to move forward and what items to add to our line, and it worked well.”

Pursue your passion.

Running an online business can be tough, which is why it’s so important you’re passionate about what you’re doing. Ask yourself: Can I see myself still be in this business in 5-10 years? If not, it’s probably better to shift directions and choose something you care about.

Organize Your Web Assets

This extends much further than just organizing your business. Your web assets are everything from your website to your social media profiles to your hosting account. These need to be in order.

All relevant assets should be optimized for your brand. For example, your social media and web pages should have relevant keywords. They should fall into an integrated marketing plan. And they should be completely updated with the latest information about your company.

Maintain Customer Records Safely

One problem business owners have is that they need to be able to keep records safely. You have a legal obligation to protect any customer information obtained online. For example, you should store information on separate devices and have several secure backups.

Your systems must be kept updated and controls should be implemented and access should be restricted only to specific employees.

You should have a system in place to destroy things like credit card details securely when they’re no longer needed.

Do you know your competition?

Any good business will know its competition. You need to know who you’re competing against so that you know why customers choose you over others or vice versa. Nowhere is this more important than in the online world.

You should be aware of the social media channels your competition is using. And you should inspect keyword usage from all your competitors using the variety of tools Google provides.

Protect Your Brand’s Online Reputation

Online business is all about reputation. The slightest mistake can taint your brand forever. The key is control. Set up a Google Alerts notification for your brand. That way, you’ll be able to inspect any mention of your brand.

Have a firm set of branding and social media guidelines, so anyone posting on behalf of your brand is aware of what you expect from them. Learn to deal with customer complaints and adopt a mindset of solving problems; even if the customer is wrong.

Invest on a good internet connection

If you are online, you need a good internet connection. Sometimes, I’ve sacrificed on a good internet connection, only to realize I couldn’t act fast on important orders. Without a fast internet connection, you could miss out on orders and customer questions. In short, your business could be paralyzed.

Stay On Top of the Latest Trends

The online world is constantly changing and evolving. It evolves faster than anything you’ll see in the real world. Furthermore, you’ll see social media trends evolving all the time.

You need to be on top of this so you can be on the cutting edge of online marketing and branding.

Be Persistent

Few businesses become overnight success stories. This is something you’ll have to accept if you want to enter the business world. Persistence will pay off in the end if you continue to do all the right things. You need to be consistent and stay focused on your goals.

Did you know most startups take three to five years before they start turning in a profit?

Know When to Call It Quits

Sometimes an idea will fail. The biggest challenge for an entrepreneur is to know when an idea has failed. It’s no point trying to revive a dead duck. So don’t be scared to change course if necessary.

Conclusion

Being successful when working with an online business can be tough. That’s why I put together this special report to help you avoid the common mistakes that most newbie entrepreneurs make in their online business endeavors. When you follow these simple secrets to online business success, you’ll find yourself in a position to achieve your goals much more easily, with less stress and worry.

Running a business is inherently risky. Taking the time to learn and evolve is one of the best investments you can make to mitigate these risks.

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