1. Create a business Idea & Identify Your target audience.
Creating a business plan is the first step in facilitating an online business. Deeply understanding your business plan and audience is the most important step when starting an online business.
When it comes to your target audience, you should know them better than they know themselves. This will allow you to create content specifically for your audience. This increases your social engagement and creates higher-quality leads.
Need help identifying your target audience? Read Now
2. Create a platform for your online business
Create a platform that is going to act as the headquarters of your online business. I recommend building a website to fulfill this role as you can direct all other content platforms back to your website however, your platform can be whatever you desire (Social media, YouTube, LinkTree, or a Podcast).
When I tell my clients get your business off of social media! They assume I mean don’t post business content on social media, which couldn’t be further from the truth. This phrase simply means to have a base of business outside of social media. This helps build the credibility of your business to investors and potential business partners and also opens your product or service to a whole new audience.
3. Create content that pushes leads to your platform
Market your product. Now that you have a platform that holds your product or service, create content that directs potential leads to your platform. If you have an E-commerce store this would be creating content on social media.
However, if you are creating a Google-based business such as affiliate marketing or blogging, create online posts on Google and YouTube.
In this new era, it is important to know that content = marketing. High-quality content will have a substantial boost on the reach and profits of your business.
Every day billions of users sign in to social media apps around the world; learn how to create content that drives action and builds your brand credibility.
Collaborate with other influencers and creators to attach your product to their name strengthening your overall brand.
4. Create an email list
Now that you have brought your leads back to your platform this is the perfect opportunity to sign them up for an email list.
Email lists are a very underrated marketing strategy that doesn’t get talked about enough. Even if the lead doesn’t purchase your product on the first visit (71% of leads don’t purchase on the first visit), you still have a line of communication attached.
An email list allows you to update your community on upcoming projects, upsell your community on new products you have coming out, give valuable information to your community to keep your brand at the front of their mind and connect with your audience on a more personal level.
Not to mention, it pays to have an email list. Companies will pay you to sponsor their product or services on your email list and will give you a commission on all sales that stem from that sponsored content.
However, be careful not to repeatedly spam sponsored content on your email list. People will unsubscribe. Nobody likes spammers.
5. Sell your product or service
Sell your product or service. This step is the only step you do not have any direct control over as you cannot buy your own product. However, if you follow this plan correctly you are going to watch money flow into your business.
6. Create content and market the sale of your product.
Now that you got your first few sales start marketing the sales of your product. Many of your buyers desire to see other people who are also interested in your product or service(social proof).
If you are a service-based business this could be pictures of the service you have done and replies of gratitude from the customer.
For a product-based business, it could be screenshots or quality content of the statement of earnings(receipts).
No matter what type of business you are operating you need social proof to increase the credibility and validity of your business.
7. Pay yourself first
As a Governmental Accounting major I cannot stress this enough PAY YOURSELF FIRST!
As soon as you receive payment to your business set a percentage that you pay yourself to the side. You can then reinvest back into the business or yourself before you do anything else.
You do not want to start a business and then give all your business income to Shein.
Put some money in your savings or in a safe investment security to earn money while you sleep.
Additional ways to market your business
- Paid ads
Advertisements are a great way to attack your target audience directly. Paid ads on either social media or google significantly increase your reach and brand awareness.
However, be sure to only advertise quality content as this will be the first time the majority of this audience sees you.
2. Influencer marketing
Influencer marketing is one of the best ways to grow your online business in 2024. In today’s day and age hype and trends mean everything.
Getting the right famous person to openly use and enjoy your product or service builds your social proof, brand awareness, and brand credibility all at once. Collaborate with influencers as much as you can.
3. Social media marketing
Social media marketing is the new marketing. As said before content = marketing if you want a successful business in 2024 you have to get your business on social media.
Billions of potential customers log on to social media every day, it’s up to you to find a way to make them purchase what you’re selling.
4. Search engine optimization (SEO)
SEO is so important in regards to online business SEO and Keyword Research is a need to know. I can create an entire course on SEO alone.
Seo stands for Search Engine Optimization and is the ranking factor for everything on the internet.
To save time I won’t be diving into SEO today but if you’re curious read this article I wrote that covers the basis of SEO and Keyword Research. Read Now