The Single Most Important Internet Business Success Factor
Quite a number of you have indicated that you want to use the Internet to make money but are discouraged by the dotcom bomb or the misconception that e-Commerce does not work in Malaysia.
I will now show you an example that e-Commerce does work even in Malaysia, if you know how to do it right.
This example is a new Internet seminar that we are introducing. A whopping 68% of the participants in this seminar opted to make payment online by credit card (the norm is only about 10% of participants would make payment online).
So why so many websites or Internet businesses fail? The main reason is that they do not know what they are really doing. They think unrealistically that having a website is like having an ATM machine. It's even worse when they were ill-advised by some self-proclaimed Internet guru that they could make money by just spending a few minutes a day downloading orders.
Single Most Important Success Factor
The single most important factor to build an Internet business is to have a success system, AND to implement the system with commitment.
With our tested and proven experience in building different e-Commerce websites with success, we now introduce the 7 steps system to kick-starting and building an Internet business, even with little capital, which may be operated from home.
Step 1: Find or create a product that can sell online.
You may be tempted to sell a product / service which you like. However, you need to find out whether there is a hungry online market for this before you invest your time and hard-earned money. You will need to sell a product that already has a sizable online market rather than trying to sell to an non-existence market.
Step 2: Grab a Domain Name for marketing and branding
Do not just use your company name as the domain name! Grab a catchy or good domain name with the keyword of your industry for branding and marketing purposes as well as getting a higher ranking in search engines. Some good examples are like www.WebHostingMalaysia.com, and www.GardenFertilisers.com.
Step 3: Develop a simple but professional website
You do not need to spend a lot of money to develop your website. However, for credibility purposes, do NOT use free websites for your business. They are only good as your personal websites. When you first start off, spend a little money to engage a professional company to design a website for you. Alternatively, you may use some templates-based websites which you can do it yourself.
Step 4: Create the unique selling proposition (USP) for your products / services
How are your product / service different from your competitors' websites. Is it cheaper, of better quality or of better service? For example, this is the USP of eOneNet.com:
Step 5: Create compelling copywriting for your website
A website is no different from an advertisement or a sales letter. You will need to develop attractive and compelling headlines, sub-headlines, and contents of your website, incorporating your USP and any special or free offers. For example, for a website dealing with diet products, this headline will definitely pull the targeted audience:
Lose 21 lbs in 2 Weeks, Guaranteed!
Step 6: Get massive traffic for your website
If you have great product / service, award winning website, and have done all the aforesaid 5 steps to perfection, you will not be able to make any sale if there is no traffic to your website. You will need to spend at least 80% of your time in drawing traffic to your site. The most effective way to get website traffic is not to spend a fortune on advertising, but from search engines. However, you will need to master the techniques of getting top rankings in search engines. It will make a huge difference whether you are on top 10.
Step 7: Convert the hits into sales and measure
It's no good if you are getting massive hits but no sales. You'll need to work out the conversion rate. For example, if you are getting 100 hits per day and out of which you get one sale, your conversion rate is 1%. However, if for the same hits, you get two sales per day, then you have doubled your conversion rate to 2%. If you want to increase your conversion rate, you have to re-work on Steps 1 to 5 above. In particular, make some compelling and time-sensitive offer.
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