5 things all successful online businesses have in common
What does being successful mean to you?
Everybody has their own unique definition. Some want more money. Some want more freedom to live their lives. Others want to make a positive impact on the world.
These definitions not only affect the individuals’ perception of success but the businesses they operate definition.
Even with all of the different definitions of success, there are still core lessons we can learn from individuals and businesses that achieve it. By looking at what all successful online businesses have in common, we can take steps to replicate that success within our own business.
In this article I am going to look at 5 things all successful online businesses have in common. These 5 things all build up to 1 all-encompassing principle (I let you in on it at the end of the article) that will help you to create a more successful online business.
Let’s jump in.
Create more engaging content
While each aspect I am going to discuss is important, this has to be the one that is the foundation to your online success.
If you are not sure what content is, then check out this article we wrote on what is content marketing.
Content gives your audience something to engage with. It demonstrates your knowledge as a thought leader. It can be used to generate leads, qualify these leads, and convert them into customers.
I haven’t even mentioned the impact regular published content has on your search engine rankings. I will give you a hint, it’s really positive.
Successful online businesses know this and execute highly effective content marketing strategies.
If you are a small business with limited resources, content should still play a vital role in your online strategy. Decide on how much quality content you can produce and stick to it.
Having this consistency will help drive your business forward.
Develop excellent lead magnets
Your lead magnet is the piece of content that is so valuable that people can’t help but give you their precious contact information in exchange for receiving a copy.
This is essentially the next step in your customer’s journey. Once you have their contact info, you can start to build a blossoming relationship with them. A relationship that will hopefully be bonded by the exchange of money for your products or services.
Great lead magnets help to solve your future customers problems. Why would you want to do that?
This is going to help establish trust and we all know how important trust is in building relationships. Now this might be obvious, but I will mention it anyway, don’t solve the whole problem, leave them wanting more.
It’s this desire to learn more that will get leads signing up for the next stage of your customer journey. This should be some sort of sales event; webinar, live event, strategy call, or a purchase through your site.
Always be optimising
The only certainty in marketing is that testing will get you better results.
No one has the magic formula that is going to work for your business. But you know the one thing that works for every business…testing.
By doing this, you are going to find out what resonates better with your audience. This might be certain wording, colouring, even different lead magnets.
Now, being a small business, you are not going to be able to test everything. So first think about what is most important for you and start by testing that.
I think the best place for any business is to start is to figure out the best way to generate leads. If you have a huge list of leads that know your business, it is going to be easier and cheaper to turn them into customers. But more on this later in the article.
In order to test efficiently, you will need a form of optimisation software. For lead generation, I recommend GetResponse. This was built as an email marketing software but over the years has created several add-ons to allow you to optimise your lead generation.
This includes landing pages and forms. You can create several variations of each, testing different wording, messaging, colours, CTAs, and all that other fun stuff.
As soon as you find the best performing landing page or form, you can turn the other variations off and let the winning page do its magic converting more visitors into leads.
Engage leads straight out of the gate
What’s the next step after you have generated a lead?
Sell to them, right?
Yes and no. If you sell low-cost items, then selling to someone right after they become a lead might work well.
However, if you sell high-cost items, this probably isn’t going to work. These people just discovered you, the fastest way to turn them off your brand is to ask them to purchase £1000 worth of products or services from you.
What you need to do is to build that relationship further. I would even recommend this if you are selling low-cost items.
At the end of the day, business is all about relationships. The really successful businesses understand this and put in the work to build these relationships before selling to a customer.
And the most efficient way to build relationships for your online business?
Well, it’s email automation of course. This is because email automation allows you to send relevant and timely emails to your leads automatically.
That means you can create meaningful communications with your audience without needing to lift a finger. That is after you have created your email automation workflows.
To be successful online, you have to be efficient because the greater your success, the more leads you will generate and the more sales you will make.
To be able to scale your business with your success, you will have to use tools like email automation. As they create processes that are not limited by the amount of time you or your team have at their disposal.
If you would like a suggestion for a great email automation tool, check out GetResponse. As I mentioned before, they have a ton of tools that will help you create successful and scalable marketing campaigns.
The 1 principle that will set your business up for online success
As I mentioned in the intro, this whole article has been building to one all-encompassing principle that will make your business successful online.
So far, we have talked about driving people to your website, turning them into leads, creating more leads through optimisation, and engaging those leads with email automation.
Since I have covered the entire process, I thought I would end the article on emphasising just how important it is to have an engage email list.
Many businesses rank their email list and the number 1 marketing asset they own. The reason being is that email marketing has a 4400% ROI!
I know this sounds crazy high, but let me break it down for you…
Once you have someone’s email address. You can email this person a million times, with the only cost being your email service provider (which is a very small cost).
Then merge this with the fact that email marketing receives a better engagement rate then social media. It is actually 40x more effective at selling to people than Facebook and Twitter combined.
Now let’s also consider that people even expect email communication at certain times in the customer journey. 74% of people expect to receive on email when they sign up to your list.
With this in mind, that 4400% doesn’t seem so crazy does it?
Email marketing drives engagement, builds relationships, and creates more customers. To create a successful online business you need to make building your email list of central importance.
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