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Strategies for Creating a Profitable Online Business


This article originally appeared on DirHost.com

At any given time, you want your business to generate profits. This is awesome because it determines the real objective of setting up that particular business. With constantly increasing e-commerce, people have realized making their websites profitable is the way to go. A website is not to formalize your enterprise, but to help in reaching out to various clients from different parts of the world with the aim of making gains. So, implementing specific marketing strategies can improve your site to a profitable one.

As opposed to public opinion, starting an online business is not an easy thing, not to mention the strategies that need to be employed in order to make a significant profit. However, what matters here is the level of thinking, types of ideas generated, and tools to use while marketing your website. With that in mind, let us discuss the ways to make a profitable online business.

Understanding Customer Buying Cycle

This is a repetitive process that depends on which product or service you are selling. The cycle describes the behavior of every customer when landing on your business site, and explains all the stages every client will go through. The customer may not understand the stages, but as a business person you need to analyze customers’ activities in order to succeed in the marketing of your product.

According to online business analysis, a small percentage of all traffic to a business website makes a purchase. However, those who refuse to buy are assumed to be stuck on one of the stages in the buying cycle, and they might convert some day in the future. So, to achieve a broad conversion rate, you require a marketing strategy that targets a big percentage of all visitors.

Since you need more conversions, your objective should focus on taking a customer to the final buying stage of the cycle. But, how can an online business owner achieve that?

1. Investing in Content Marketing. This is one of the top ways of marketing your website, through uploading fresh and informative articles. If your website is regularly updated with new content, the chances of increasing traffic are increased. You can do this through your blog, and eventually build your brand as well as creating product recognition and awareness. If visitors can find what they need through reading your content, there is likelihood of converting them into loyal prospects and come back to your website. Lead generation can enhance your sales significantly and make your business more profitable.

2. Email Marketing Strategy. Your website should have a visible newsletter sign up button, which visitors can use as a source of contact information for email marketing. Every day people visit your website, and some of them will be willing to provide email contacts. This can help you create a list of emails, and then begin nurturing relationships, which in turn helps in converting your leads into potential buyers. This is an affordable technique, which can be easily tested and measured in order to stay in touch with the traffic. So, you need to provide contacts containing useful information such as new blog posts, special offers, or new products and services. By tailored emails, business owner can gain visitors’ trust, and convince them to make purchases once they land on the site.

3. Make Use of Webinars. If you have a relatively stable traffic into your website, and your online presence is strong enough, hosting an event on your website can be profitable. A webinar or creating an online event, will not take you more than an hour of your time. Once you create an event, charge a small fee to any visitor who attends that particular event. For those online business people who have built compelling profiles in the industry, most people including other investors will be willing to pay for the event in order to get advice, training, and inspiration from your speech.

4. Conversion Rate. To achieve a profitable website, converting your site’s leads into sales is very vital. People will visit your website on daily basis, but more traffic will be useful if it can be converted into sales. Analyzing your website and traffic will help in identifying areas of strengths and weakness, as well as your bounce rate so that you can come up with viable strategies to improve drop-off rate, and enhance your conversions. You need to identify the pages that are drawing attention of people, and the ones that are not. Once you know the pages that are not attracting visitors, you can make an informed decision to re-work on them by rewriting page titles, descriptions, changing colors, making changes to the landing pages, and developing mobile friendly pages among others.

5. Optimizing for Search Engines. Though SEO is a complex thing that most people don’t understand clearly, it remains an essential tool for increasing traffic to your website. The standard routines of organic SEO involve page titles, links, and keywords. They change regularly and need to be managed well so that your site stays at higher ranking at all times. When your website’ ranking is boosted, you will receive more traffic on daily basis, and this is a clear indication of getting more potential customers on your site. If you are not an expert in SEO, you can choose to hire someone to do it for you. Sites such as UpWork and Fiverr can help you get an SEO expert at an affordable price.

6. Test, Track, and Tweak. Online business is easy to track and make necessary changes compared to conventional businesses. You can check performance of campaigns in real time, and then test and track your efforts efficiently. Visitors have different perspectives, and they may respond to a small change made in your website. For instance, changing the color of the call-to-action button can have a significant impact. Also, check the headlines that are likely to attract more visitors, and what exactly draws them to your site.

A site like Which Test Won? offers amazing stats on testing, while SumoMe provides affordable insights into where most visitors are going on your site pages. This helps in tracking the areas that most people are going frequently, enabling you take a necessary action.

7. Make Your Website User Friendly. When your website is easy to navigate, it can translate to more profits. Customers need a clear and easy process of making an order. Therefore, your shopping cart should be straightforward so that clients don’t get confused while trying to make a purchase. This is one of the ways to enhance your daily conversion rate, hence more sales. Ensure your checkout is short, a single page actually, to prevent frustrating clients who may opt to other websites.

Starting an online business is more than just creating a website. In order to make profit, you need buyers who will come again to your site and purchase more products or services. However, getting more traffic is not the essence of a profitable business, since you need visitors that will pursue the intended action - making a purchase. Therefore, the above 7 strategies can help you get traffic and convert them into sales.

Written By DirHost.com