Creating an Effective Online Business

Creating and running an effective internet business is a lot of work. Contrary to what you hear on the Internet, there is no cookie-cutter, get-rich quick system on the web. Not only is every internet business different, what works for one person may not work for another person.

The Internet is continuously changing, and the internet market is different this year than it was last year. New improvements occur monthly, and impact the internet business environs. What works for one person when he is the first to sell a certain product a certain way may not work just six months later when he has sold his idea other marketers. Traffic generation tactics are appreciably different than they were just a year ago, and scarcely resemble profitable strategies of two years ago.

The following steps are merely the frame of what has to happen for your internet business to be successful.

1. Develop or find a product. You must get a product that meets today’s needs. A 5 year old product whose resell rights you are able to buy for a dollar or get free of charge probably won’t meet the needs of today’s consumers. You must be willing to ante up for the rights to sell a useful product, or become an affiliate marketer, where you promote a product in exchange for a percentage of the revenue from each sale.

2. Determine how customers can view your product and see a sales demonstration. You will need a website. Rather than accept free web hosting, purchase your own host name and pay to have your domain name and web site hosted by a professional web hosting company. If your free web hosting company goes bankrupt, there goes your business!

3. Once you have your web site up and running develop a sales script and web copy. Aside from your web hosting decision, this is the single most important thing you must do. You may be tempted at first to write a sales pitch on your own, but unless you already have a lot of experience in the offline market writing effective sales letters, you need to study internet copywriting. Be willing to spend some money learning this skill. Too many marketers try to wing it themselves and after a few months of losing money break down and purchase the knowledge to write a good sales pitch. Do it the other way around—buy the knowledge first, and start making sales from the beginning. Customers will not buy just because you have a web site---they buy from the web site that does the best job of convincing them it has the best product for them.

4. Develop a traffic source that works. Assuming you have been willing to spend some money on sales letter writing and a respectable web host, you may be able to skimp in the traffic arena for awhile. If you don’t have money to advertise seek out low cost advertising. If you do choose the low-cost route please remember two things. The returns are low and you will spend enormous amounts of time on traffic generation. Once you begin to make sales, invest your income in paid forms of traffic generation. Good sources of low-cost traffic are: writing articles and posting them to article directories, classified ads, and ezine ads.

5. Once you begin to get traffic to your online business site, you must keep detailed records of where the traffic comes from, and what percentage of visitors from each source are purchasing your product. If it costs you $50 for every $25 purchase, the income may feel good, but you are losing money. By tracking your expenses on each type of visitor and by tracking your revenue on the same sources of visitors, you can determine which campaigns need changes or need to be eliminated and which need to be increased in intensity.

6. By following this pattern of steps, and by keeping diligent records, you can develop a profitable online business. It won’t happen overnight, and you will not get rich quickly. However, if you build a solid business on a solid foundation, you really can become successful in business online.

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