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Are you looking for a guaranteed way to start an online business? Do you know that there are two ways most online marketers start their online business? You for sure fall into one of the categories.
Here are there:
This is the category most internet marketers fall into and here is how it goes:
A great business idea flows into your mind. An idea that can turn your financial life around for good. The idea of the year. You do some research on the business idea to see if it will be a welcome idea. You talked to your friends about it and they approve of it. And then you go for it.
You executed the idea by making the product or services and put it up for people to buy.
The only problem?
They did not.
You start wondering what went wrong. Maybe you did not market it well or your landing page was not converting and need to be changed. It is not your marketing neither was it your landing page. Your marketing was fine, your landing page was also perfect.
Nobody bought because you were just one of the noise already in the noisy market. You are just one more online marketer trying to sell something in the online marketplace and they don’t have time for you. It is nothing personal, it is just the reality. But, what about category 2?
This is where I and otherwise online marketer belong and you will be surprised about the difference and the results. Here it goes:
You have a great idea, you do your research to make sure you are entering late into the market. You talk to your friends and potential buyers about the idea and you get positive response to carry on.
You made your decision to go for the business idea. But, you did not just start making the product or service. Instead, you decided to first find your audience and build a list around the audience.
You build a list of few hundred people interested in the exact product or service. You build a good relationship and conversation with your subscribers by sharing valuable contents with them.
Now, you get their attention.
Then, you build a product or service and let your subscribers know about it. They start showing interest about it by asking more questions about the product or service. When the launch day comes, you put it up for sale and 50% buys. Do you see the difference between the two categories? Here is a way I can explain the second category for you to understand very well:
Case Study 1: 250 Subscribers Generated $4,000 for a Launch.
Mike buys a product online from Paul Walker. Mike went through the product and realised that it will be very difficult for people to understand and execute what was stated in the product as it took him time to do, and they will need help with it. So Mike decides to create a list around this product and then created a course on how to use the product.
He got up to 250 subscribers who were interested in getting help with the product and he made $4,000 from the course he sold to them.
From the day he taught about the idea to the time he launched the product only took him a month plus. He sold the product for only 2 weeks. Imagine you get this kind results and repeat every month!
Case Study 2: 1000 Subscribers Generated $85,000 in Sales
Anita wanted to create a product that helps bloggers solve their SEO problems. So, he created a list around the topic of SEO for effective blogging.
She was able to grow and nurture her list from 0 to 1000 subscribers quickly. In the process, she was collecting data on what her subscribers really want so she can add them to the product. As she was collecting data, building a strong relationship with her list, she was building her product.
She launched the product, run the campaign for only 2 weeks and she was able to generate $85,000 in sales. This only happened within 90 days.
When thinking of selling online, building your audience should be your first priority before creating the product or service to sell. It is easier to sell when you already have an audience that KNOWS, LIKE, and TRUST you.
Here is What to Do When Starting an Online Business
Choose a Niche
Choose a niche with buyers already waiting for you. A niche with a lot of interest just like SEO, health, making money, business, dating etc.
Create an Offer
This offer will be your bait to get them to sign up to your email list. It should be very enticing that they have to give you their email address so as to get it. Sometimes it can be as simple as just telling them that when they subscribe, they can free daily or weekly update about that subject you are marketing on.
Build a Relationship with your Audience
Keep your subscribers and readers interested in what you share with them. Do it to the point where they see only you as their solution.
Test your Product
Validate your idea or offer to your subscribers to make sure you’re on the right track. Ask for feedback and make any adjustments. This is very necessary to avoid you wasting your time creating what people will not buy.
Launch the Product
Launch when you have enough subscribers to make it count. The actual number will depend on your topic and niche. You saw from one of the case studies above that it can be done with just 250 subscribers if the topic is narrow enough. I know that you have been a condition to think that you have to build the product first before you build your audience. It is not as effective as building an audience first before you build the product. The next time you have an idea, give this technique a shot!