Some people start an internet sales business to earn extra money from home. Others work full time on their internet business. Either way, there are a number of crucial ingredients that play a significant part in the success of an online business.
So, if you’re starting to build your own internet sales business, or you’re not getting the results you want from your existing business, keep a note of these 5 key ingredients.
1. A Good Business Model
A good online business model provides a reliable and secure combination of income channels. For example, an ideal mixture of income channels would come from recurring income products, direct product sales and high ticket product sales.
Recurring Income is where you sell something once and receive payment every month provided that your customer continues to use it. Direct product sales are products or services that you sell, generally under $100, where you earn a one-off profit or commission. High ticket products are premium products where you earn in excess of $1,000 per sale.
2. A List Building System
This means continually building a database, or list, of prospects, that have shown an interest in your products or services and who have given you permission to email them. You will need autoresponder software to collect, store and communicate with your list. You will also need something of value to give away for free to encourage people to join your list. This could be a free report, eBook or video tutorial.
3. A Marketing Funnel
The marketing funnel starts where you offer your prospects something of value for free(like an eBook or report) in exchange for their email address. Over a series of emails, you can offer different low priced products leading up to higher priced products. Some of your prospects will go all the way through the funnel, others will not. But the money and profit will most likely come from a small number of prospects who buy your higher level products.
4. Website Traffic Tactics
If no one visits your website you’re not going to be able to sell any of your products or services. There is free traffic and paid traffic. Free traffic for an internet sales business can comes from such sources as social media, search engine optimization, video marketing and blogging. Paid traffic includes pay per click marketing, banner adverts, social media adverting and solo ads.
5. Help And Support
It takes some effort and work to build an internet sales business. And you might not have the support from your partner or family that you would want. That’s why it’s important to connect with like-minded business owners who can give you help and support when you need it.