3 Steps in Starting an Online Business – Yaro Starak
1. Traffic – the more visits your website gets, the more sales you get.
a. Pay Per Click – quickest but least forgiving. At a lower cost, you can attract thousands of visitors, or lose money for nothing.
b. SEO – can attract thousands of visitors simply by content marketing. It can take a while, but it pays.
c. Affiliate Marketing – most underutilized, probably because it means building relationships and presenting winning offers to affiliates. It has the highest conversion rate and is low-risk because you only pay when you make a sale.
2. Make a Sale – a sub-$50 info or physical product can work to open communication with customers. Some lose money over it. It’s just a strategy to develop relationships with potential customers and prepare them for more.
3. Sell More with a Bigger Margin – It’s always easier to convince someone who is in the process of buying or who has previously bought, to buy more. You can have upsells, downsells, cross-sells of digital items, continuity products, coaching, consulting, physical products, seminars, conferences, and anything relevant and valuable to customers.
Small segments will only buy your upsells and back-end offers, but it can be equal to 10, 100 or 1,000 front-end sales.
Filter down to a very small group of people who buy everything you offer. With the help of the 3-step process, you can determine how much each visitor is worth in your website. If you knew (through follow-up process) that each convert is eventually worth $300 to your business, you can: spend more on pay per click advertising, hire search engine and content development professionals, and pay more money to affiliates.
As easy as it may sound, a couple of things hinder entrepreneurs: mortgages, full time jobs, families to support, ingrained self defeating belief systems, unrealistic expectations, poor work habits, an inability to let go of control or hire help when required, inferiority complexes, low self esteem or all manner of roadblocks.
Constraints that Hold Yaro Back
1. Lack of product to sell: a fully developed sales funnel has upsells and a back-end.
2. No sales process for new products: Even ready-made products should have a sales page and shopping cart to take payment and deliver goods. Autoresponders are vital to keeping the marketing system for new products and for launches.
3. Maintenance of current systems
4. Traveling: The little details suck time.
5. I – need others’ help.