Building a business online is actually quite similar to building a business offline. The sales process is similar but the actual ways to do it is summarized in 6 just simple steps:
• Building Traffic (Getting your customers to your website)
• Lead Capturing (Getting the casual window shopper into your customer list)
• Building A Relationship (Getting your customer’s trust)
• Selling Phase (Pitching the right ‘offer’ to your target audience when all the variables are right — doesn’t need to be a product that you can sell)
• Monetization (Making money out of the people who visit your site)
• Automation phase (Repeating the entire process over and over again having them fully automated and making money for you while you sleep!)
Traffic is probably one of the most important aspects of the entire funnel. You can have the best looking shop, the most beautiful products, even top-notch customer support, but if you don’t have a sign that leads customers to your doorstep, you would be out of business very quickly.
However, not all traffic is created equally. There’s untargeted traffic, and targeted traffic! Just because someone offered to sell you a list of a MILLION subscribers for a thousand bucks doesn’t mean that you are going to be the next Internet marketing champion…
So how does one easily find loads of targeted traffic? You must determine these 3 things:
(1) They are willing to spend money to buy stuff
Freebie seekers are NOT your idea of targeted traffic, after all, we start an Internet marketing business to MAKE MONEY by selling products, otherwise we would be known as an Internet marketing giveaway store.
(2) They like what you are selling
They are willing to spend money, but you have to sell them stuff that they WANT to buy — don’t sell a steak to a vegetarian (it’s not about the price).
(3) They may or may not buy from you depending on the situation
Some will, some won’t… SO WHAT? Even when all the variables are right, some people just won’t buy from you (maybe not today)… that’s just the way people are! Some buy when the timing is right. Some prefer to buy right after they get their paycheck, but keep all these people in your pipeline. You will never know who might turn out to be a solid buyer one day.
2- Lead Capture
Lead capturing consists of setting up two very important tools:
• Your landing page/squeeze page/opt-in page • A product to giveaway
Now, to be realistic, this is just part of the picture. Actually, writing a good squeeze page requires one to write an attention-grabbing headline, convey benefits and so on and so forth. But basically it covers the two important aspects — you are giving away a FREE report in exchange for the visitors’ name and E-mail address.
That is the purpose of a squeeze page — you direct targeted traffic to your squeeze page, and you capture their contact information.
3- Build a Relationship
You’ve got their name and E-mail — what next?
Advertising experts have claimed that a person seldom commits to a product unless they see the same product over and over again for at least SEVEN times!
Does that mean you build a relationship by telling them to buy your product seven times? Of course NOT… but actually yes… if you do it in a subtle way.
The key to building a strong relationship with ‘cold’ prospects is to provide value to them through your autoresponder. Value could be small or big — even good advice will ‘warm up’ your cold prospects.
Because once you got their attention and they start listening to you, you can be sure to pitch them some of your wares and encounter less resistance.
4- The Selling Phase
It’s time to get to the bottom-line of Internet marketing. We all want to make money and the best way to do so is to sell them our stuff (or sell them other people’s stuff otherwise known as affiliate marketing).
This is when a properly crafted sales letter comes into play!
Do not worry if you are not a trained copywriter. When it comes to affiliate marketing, all the marketing materials are all done for you! All you need to do is pick a GOOD product that gives a GOOD conversion and send your targeted traffic there!
But most important of all, is that you have targeted traffic, you’ve built a solid relationship with them and you’ve also identified their needs — what they want to buy.
Once you’ve met all those points — get ready to make some sales!
5- The Monetization Phase
Building an Online business is all about making money. After all, what’s the point of getting into a business (other than pleasure) if it is not about the profits?
There are 4 main ways you can make money online:
(1) Sell Your Own Product — You could charge for membership access, sell E-books, audio interviews or video tutorials.
(2) You Can Promote An Affiliate Program — All of the above in the first point except that you are not the one in charge of conversion and product creation. You get paid commissions for each successful sale!
(3) You Can Sell Advertising Space — Instead of selling products, you can ‘rent’ the space on your websites, blogs or membership sites and sell links, pay-per-click advertising, pay-per-impressions advertising or a ‘monthly rental’ fee
(4) You Can Sell a Service — you can sell your services online as a voice-over artist, copywriter, ghostwriter, pay-per-post blogger or even a graphics designer. You don’t even need a sales letter for selling your services. Sometimes, you don’t even NEED to be the one doing the service because you can act as a middleman!
Many people choose one of the above or you can do a combination of all of them. I would suggest though that you choose one at first, master it, then branch out to another.
Taking on too much at once can.. and will lead to burn -out.
6- The Automation Phase
It makes good business sense to optimize and streamline all your processes so that it becomes as automated as possible. You either automate through hiring people to do the menial tasks for you or you setup enough traffic sources through your reputation or content sites to drive enough traffic while your websites do all the work.
This is where your skills really begin to grow. Because in this phase, you are beginning to outsource, grow a team and become a leader.
You can check out site like Fiverr or Upwork for quality freelancers that you can hire for little money, that will perform the mundane tasks that steal your valuable time.
Giving you more time to build relationships. Always remember, making sales on the internet is not about money… It’s about people!