Ecommerce Information

Is It Still Possible To Make Money On The Internet?


Many people are saying that the internet is dead. So is there still money to be made on the Internet?

The answer is a definite YES.

Research shows, time and again, that consumers want to spend more online, and that the internet is fast becoming an integral part of their lifestyle and it'll continue to be so. Internet consumers are cautious and they want sites that are credible and worth shopping before they part with their money.

The traditional brick-and-mortar rules of business still apply to internet business. It's prudent to remember that the internet is not your business goal; it's a medium in helping you achieve your business goals.

Adhere to my following Rules and you'll be on your way to building a viable, sustainable and successful internet business.

---------------------------
1. Develop a viable business plan
---------------------------

The biggest reason why so many dotcoms failed is an inadequate business plan of how and when they will achieve profitability. To have a successful and sustainable internet business, developing a viable business plan from the outset is crucial.

Your plan must have a clear and sincere vision that has meaning to you and your business. Your main focus should be to 'plan to profit within a set period of time and this would require you to allow time for thoughtful researching, planning, execution and testing. You'll need to test out your business model first and ensure that it's viable and sustainable.

Don't make the same mistakes that many dotcoms made - trying to build a global brand before their business model even worked as it'll lead you into receivership faster.

Regardless of how fanciful and good your website is, if your aim is not to make profit, you'll go out of business.

---------------------------
2. Model someone successful
---------------------------

It's always wise to learn from the mistakes of other people rather than to learn from your own mistakes as this can sometimes be very costly and painful.

Track and learn from benchmarked success stories, be they your competitors or otherwise. Why would you want to spend time re-inventing the wheel when you can learn from those who have already been there and done it successfully. Learn how they design their website, create products, write salescopy, their sales process, etc.

--------------------------
3. Focus on a niche market
--------------------------

Don't be everything to everybody by trying to dominate a huge and general market because you just simply can't do it effectively.

Focus your internet business on a targetable portion of the market or a narrowly defined group of potential customers. Address the need for a product or service that's not being addressed by mainstream providers. The advantage of this is that it's less competitive in such a market as large businesses won't want to be in it.

For this to be effective, the market niche that you're targeting must be fast moving, its customers accessible and there must'nt already be a dominant player in that particular market niche.

The key here is to find a niche market, assess the needs of the market and then offer them your products and/or services that meet their needs.

------------------------------
4. Differentiate your business
------------------------------

To capture a larger market share and be viable, sustainable and profitable, you need to differentiate or distinguish your business from your competitors; make your business special in the eyes of your customers and/or prospects.

You can do this by creating what's called a Unique Selling Propostion or USP and then effectively convey that USP to your target market via your marketing efforts and business performance.

This's particularly crucial if you're operating in a highly competitive market.

A USP is the one thing or idea that sets your business favourably apart from your competitors. Think about these questions: "What's the one thing that makes your business unique and distinct? Why should people buy from you and not from your competitors? Do you promise great value, benefit or service?"

Your USP is the focal point around which the success and profitability of your business is built and so you must be able to state it and fulfill it honourably and effectively.

---------------------------
5. Spent your funds wisely
---------------------------

Costs is one of the major determinant of your internet business's survivability. You'll need to carefully track and control your costs from the outset and make sure you can start to show a profit soon, as unmindful spending with no thought given to incoming resources will bleed you to death.

Credible websites not only require money to set up but also to maintain; advertisement costs money. Driving traffic to your website where you lose money on sales made is suicidal. Do your sums; consistently refer back to your vision to ascertain whether an expense is warranted or meaningful.

----------------------------
6. Superior customer service
----------------------------

In addition to a viable business plan, a superior customer service will be key to your success.

Superior customer service must be a high priority in your action plan. Build a trusting and long lasting relationship with your customers and prospects, send your staff for customer service training, fulfill your orders promptly, and constantly remind yourself the reason of your very existence.

This is crucial as it costs five times more to win a new customer than it costs to keep an existing customer. Moreover, a dissatisfied customer will tell, on average, five or six people about your bad service. The point I'm driving at here is that looking after your customers saves money and boosts profits.

Learn and apply what I teach you, do it right, and you'll rise above your competition and blow them out of the water in no time.

About the Author

Copyright 2004 by Larry Lim, MarketingSphere.com

Larry Lim is a practising marketing strategist and tactician who dishes out highly effective marketing strategies and tactics that will enable you to successfully start and grow your business on the Internet.

His Internet Marketing Strategy website is jam-packed with internet marketing secrets and softwares that will skyrocket your sales, and shoot your profits through the roof.


MORE RESOURCES:
Internet and Businesses Online:Ecommerce Articles from EzineArticles.com
06/06/2019 02:59 PM
Complete Guide To Control The Bounce Rate Of Your ECommerce Site
For years, eCommerce retailers are struggling to fight against the higher instances of bounced visitors on their websites. In view of the arising concerns, this article attempts to help the eCommerce owners with some proven ways to curb the bounce rates of their stores.
05/28/2019 09:28 AM
The Future Internet: A Multilingual Chatbot
In our digital age, it might be hard to keep up with all the advances in technology. So if you don't know what a "chatbot" is, you're probably not alone. Let's begin with defining that term.
05/24/2019 12:59 PM
Ecommerce Tools
For an eCommerce website to be successful in today's competitive landscape consideration needs to be paid to several factors. Below we list the common factors that aid eCommerce success.
05/24/2019 12:57 PM
What Does the Choice of Your Clothing Outfit and Fashion Accessories Say About You?
Your clothing outfit and fashion accessories should be appropriate for the occasion or event you are attending.Always wear decent and modest dresses or outfit when you attend a religious ceremony including funeral.
05/23/2019 01:54 PM
Future of E-Commerce in India From B2B Perspective
The future of the E-Commerce in India for B2B sector is predicted as promising by many types of research and surveys. The digital growth plan from the Indian government is definitely acting in favour of it too.
05/10/2019 10:28 AM
5 SEO Tips For Your Ecommerce Website
SEO for the Ecommerce website can be quite overwhelming. There are various web design companies who are providing the SEO services to all large and small Ecommerce business websites. Whether it is small scale business or large scale business, your website should be easily found by your prospects. In the present day, creating a trading website is not only the solution, but it is required that your business should also appear on Google's first page.
05/06/2019 02:56 PM
5 Tips To Make Your Magento Store Absolutely Mobile Ready
This article will get you some inherent tips to make your successful and running store absolutely mobile-friendly. With more people getting handy with mobiles for online shopping, the stores that are mobile-responsive are losing big time.
04/30/2019 04:13 PM
How To Get More Traffic To A Shopify Store
If you're running a Shopify store, you need traffic. A big mistake people make is misunderstanding what a "store" does - it merely gives you the ability to list your products and have people buy what you're offering. If you want to increase sales, there are a number of factors involved, which will be detailed in this article.
04/24/2019 11:48 AM
7 Easy Ways to Increase Online Sales
From small businesses to huge corporations, increasing profits is the #1 goal. As a business owner, it's your main purpose and what you focus the bulk of your energy on. However, it can be a challenge-especially when you're so close to your brand-to see what's missing and to make the necessary changes. Fortunately, there's no shortage of ways you can improve your buying process and see results in the near future.
04/23/2019 01:53 PM
The Top 7 Mistakes Newbies Make While Building Their Online Empires
Like the California Gold Rush of 1848 to 1855, millions are pouring unto the internet seeking for their own piece of the proverbial golden-fleece. The vast majority are based in America, the land of the free and home of the brave. Unlike the Gold Rush that came to a screeching halt, the internet is here to stay despite the much-trumpeted internet crash or dot.com crash occasioned by the so-called dot com bubble of the early 2000s.
04/23/2019 12:23 PM
Should Your Small Business Use ECommerce Chatbots?
onversation is a core part of the buying process, whether you're asking the wine clerk what red she recommends or messaging a store owner on Facebook to see if they sell gift cards. I'm sure you've visited a website and had a chat box pop up, asking if you needed help or offering to start a conversation. Chances are, the "person" with whom you're speaking isn't human. A chatbot allows business owners to provide responses and solutions - and even generate leads and sales - 24/7 through automated customer service live chat.
04/22/2019 10:53 AM
7 Reasons Why You Must Install A ChatBot On Your Website Today
In 2016, the value of the chatbot market touched $703 million. According to Ubisend, around 57% of the UK customers are familiar with the chatbot. In this article, we are going to take a look at some reasons why you need to install a chatbot on your website today. Read on to find out more.
03/29/2019 04:41 PM
3 Success Stories You Can Learn From to Build a Profitable Online Store
Succeeding with online sales isn't easy so we looked at 3 examples of entrepreneurs who made it work! It could be as simple as the right product at the right time, but success isn't always only luck alone. Succeeding with an online store takes the right initiative and know-how. Whether you've got a store online already or you're just starting out, these businesses learned the hard lessons already, so you won't have to
03/26/2019 02:14 PM
3 Ways to Get More Traffic to Your Online Store
No matter how wonderful your products are, finding ways to encourage consumers to buy from your online store can be a challenge. With so much competition out there - especially if you're competing against a big retailer - means you need to always be focusing on ways to get more traffic to your online store.
03/19/2019 12:53 PM
7 Tips to Opt for the Best International Courier Service
If you want your parcel to reach the destination safely, make sure you choose a good courier service. You need to search for the right provider by following a few important tips. Given below are some of them.
03/08/2019 08:44 AM
Do You Make These 5 Marketing Automation Mistakes?
Marketing automation is vital to help promote your business. It involves a CRM, automated messages, ecommerce functionality and campaign builder with measurable results. Yet there are 5 mistakes to avoid. That's why it's beneficial to have a certified consultant on your team.
01/28/2019 11:10 AM
Why Order Pages Trump Shopping Carts in Sales Conversion... Plus How to Lower Your Abandonment Rates
Shopping carts and order pages are two ways to close the ecommerce sale. Yet order pages have three advantages over shopping carts that can result in higher sales conversion. Plus, order pages can result in lower abandonment rates compared to shopping carts.
01/28/2019 11:10 AM
7 Fatal Sins of Online Marketing... Plus Secrets to Boost Website Traffic, Sales Conversion and ROI
Online marketing can help you earn a passive income. But you could fail if you execute any one of 7 fatal sins of online marketing. Instead, it's best to use proven methods to help you achieve increased opt-in rates, greater sales conversion and higher ROI. The 7 sins are highlighted.
01/24/2019 09:51 AM
9 Downsell Campaign Offers to Get Abandoned Shopping Cart Contacts to Buy From You
Abandoned shopping carts is a big reason for lost sales. Yet you can recover some of these lost sales with a downsell campaign that gives prospective customers a compelling sales offer. That way you can turn abandoned carts into a goldmine.
10/16/2018 02:32 PM
Looking Out for an E-Commerce Website Development Company? Here's What You Want to Know?
What would you do to make an online presence in the market space worldwide? I am sure many of you will say digital marketing. But imagine a marketing brochure without any address printed on it. Sounds strange, right?
09/14/2018 12:10 PM
Why Are Your Customers Not Buying?
People don't just want to be sold to. They buy from businesses they know, like and trust.
08/01/2018 11:26 AM
Discover With Us Sorts of eCommerce Merchants and Its Types
Basically, eCommerce alludes to business exchanges led on the web. This implies at whatever point you purchase and offer something utilizing the Internet, you're engaged with eCommerce. It was August 11, and it was 1994.
07/24/2018 08:11 AM
7 eCommerce Trends That You Might Be Missing Out
Irrespective of the business or type of products an eCommerce owner is dealing with, his prime goal is to enhance the number of sales at the end of the day. While everything has gone through a series of changes owing to mobile and technology evolution, this article only focuses on the eCommerce trends to keep eyes on.
07/20/2018 09:43 AM
How Artificial Intelligence Is Taking Online Shopping Trends to New Heights
In this new age of ecommerce, marketing means providing a top-notch experience across channels, with the proper deliveries. The AI is providing excellent customer service and recommendations and sending real-time personalized messages your customers will thank you for. But personalized commerce isn't just about big data, it's about the innovative ways to use that data. Retailers who are proactively working to give their customers the best experience possible are approaching marketing in a totally different manner.
07/17/2018 09:30 AM
7 Best Magento Extensions That You Must Start Using Today
Magento is the most popular and the most extensively used platform among online stores. But does it offer everything that you want? Well, not really! The E-commerce Industry is a planet of online businesses. It includes all sorts of businesses listed up to sell their products and services.
07/11/2018 09:01 AM
No More Hiding Behind Fake Online Reviews
Like word-of-mouth marketing, online reviews offer an eCommerce business free advertising as well as a catalyst for better sales. There's no better tool for encouraging online shoppers to open their wallets for an unfamiliar brand than a positive review.
07/11/2018 09:00 AM
Video Viewing On Mobiles Made Easier
There are two kinds of video content: traditional and vertical You view the first as you would a TV while the second on your mobile through IGTV, a standalone app on the Instagram platform that allows users to watch and upload hour-long videos. Because mobile is life, this article looks into the fundamental factors considered for the new video platform that is going head-to-head with YouTube.
07/05/2018 03:50 PM
How Do I Submit ACES to Amazon?
Amazon's Part Finder widget always relies on ACES data to help individuals find the right component for their vehicles. The data which flows through numerous systems is always submitted through XML feeds. If you are thinking about a utility, then it's nothing but the Amazon Merchant Transport Utility (AMTU). So, as you scroll ahead you can check out the steps and get the answer to your question.
07/05/2018 02:42 PM
5 Reasons to Choose Magento to Develop Your E-Commerce Website
In this digital world, business presence on the web world, chances of getting globalized brighten. When talking about business growth then e-commerce platform is the top-notch option but which e-commerce platform is suitable and best fit for their business. Here are the 5 reasons to choose Magento e-Commerce platform for your e-commerce website.
07/04/2018 10:00 AM
Personalisation Matters! eCommerce Tips to Focus Personalisation
This article mainly pinpoints the key ways to focus on personalisation in online business so that customers are left spellbind during their visit to a site. Personalisation helps customers getting the right things at their doorstep and so leading retailers are already pushing it in their sites for more sales and revenue.
07/03/2018 09:26 AM
How To Write Amazon Product Listing Descriptions
If you're one of the millions of vendors looking to create Amazon product listings, one of the core determinants of whether your product will be successful or not is the description. Whilst many would suggest this be as simple as possible - it's proven that a more emotive & copy-dependent description will generally instill more trust into the product & its underlying promises.
07/03/2018 08:36 AM
Online Shopping Gets Better! Magento's New Features
Magento is now turning shopping experiences better with its latest round of features. This article takes an attempt to illustrate all the new features being released and how they will make shopping more convenient than ever.
07/01/2018 09:56 AM
Why Do You Need a Custom E-Commerce Store?
A custom e-commerce store offers the best benefits when it comes to targeting a wide network pool. Design a store that can easily be changed by you or developers. Know the benefits of having a store customization option here.
06/29/2018 08:37 AM
How To Get Local Customers To Your Online Store
Even if you have an online store, don't underestimate the power of focusing your marketing locally. Your area may have thousands of people who will be excited to order from you as a local business.
06/27/2018 12:17 PM
7 Questions You Should Ask Yourself to Check If Your Business Idea Is Viable Part-1
Consistently hordes of online stores are made, and truth be told, I'd say too much. It's incredible to begin another business. He sprinkled! Actually, not every person chooses to make the stride, you must be overcome. Nonetheless, I have possessed the capacity to confirm that numerous stores typically close following a year for a few reasons.
06/26/2018 03:32 PM
How to Sell Auto Parts on Amazon?
Car dealerships are always wise when auto parts have to be sold on Amazon. While the online sale has been increasing at the rate of 14 percent, the growth rate of Amazon is nearly double. But, if the dealership isn't aware about the setup, then it's quite difficult to succeed and achieve profitability.
06/21/2018 10:10 AM
Benefits of E-Commerce in Modern Times
E-Commerce is a word, which is commonly used to define any kind of business dealing that includes the passing of information through the Internet. In the last era, we have seen E-Commerce websites working on the Internet.
06/21/2018 08:19 AM
Planning for an eCommerce Startup? Choose WooCommerce
This article will pinpoint a few persuasive reasons to choose WooCommerce as your eCommerce startup building platform. Read on and know why it is the best option.
06/19/2018 09:03 AM
Why Use Magento 2 Extensions and Which Are the Ones You Must Have
Magento 2 is the most popular ecommerce platform and provides a broad array of features, yet it lacks somewhere. But availability of umpteen Magento 2 Extensions can provide you all the features and functions that you want.
06/15/2018 09:46 AM
Your Local Business Can Be A Powerful eCommerce Giant! Here's How
A big percentage of retail businesses are now reigning online. With the world moving towards a mobile-savvy generation, eCommerce stores have become the most happening option for big retailers. This article purposely serves the concern of small businesses to help them create their powerful online stores.
06/10/2018 02:27 PM
3 Functionalities That a Magento Admin Mobile App Can Empower You With
It is not possible for you to be vigilant about managing your Magento e-store activities 24*7. But, an admin mobile app based on Magento Platform can help you do that. Find out the ways in which it can empower you.
06/08/2018 09:46 AM
Shopping Online Safely
If you want to shop online safely, you should not take safe shopping for granted as something that is always true. You should take precautions yourself too, it is totally acceptable to keep your financial data as safe as safe can be. Established online websites make sure to have enough safeguards in place on their end to make sure that their customer data, and by extension, their own reputation, is kept safe. But, even if you trust credible websites it does not mean you should consider trusting the internet blindly.
06/07/2018 09:56 AM
Using Big Data to Improve Retail Assortment Planning
Product assortment planning is the process through which retail stores determine what products to offer to customers in different localities, at different times, and in what quantities to stock them. There are many factors involved in making these decisions. To make accurate predictions, retailers have to consider both internal and external data.
06/05/2018 09:14 AM
How Easily Can You Shift Your E-Store to BigCommerce?
BigCommerce comes up with an array of benefits for launching your e-store. It also helps you shift your shop easily to BigCommerce. Read on to know more.
06/04/2018 09:41 AM
Do You Want A Slice Of The Beauty Market?
Like food, books, and toiletries, skincare products are everyday essentials which many people, especially women, prefer to buy online than in-store. Nowadays it's rare to find a girl who can survive a day without a lipstick, moisturizer, and whatnot. Having said that, there's no better time than now for online sellers of beauty products to put their goods in the forefront of a platform which will gain them more traction.
05/31/2018 08:50 AM
3 Things to Consider While Choosing a Magento Inventory Management Extension
To handle the poor inventory management for your Magento store, you can prefer to install Magento inventory management extension. When you are about to do that, you must choose a feature rich extension. Know about the features such an extension must have, through this article.
05/29/2018 10:06 AM
E-Commerce Trends in 2018
E-commerce is growing rapidly, and to stand out from the crowd, one needs to be a trailblazer and innovate with the changing trends prevailing in the e-commerce industry. Those in charge of developing e-commerce marketing strategies in 2018 should pay close attention to these major trends and formulate an effective strategy to stay ahead of their competitors and convert as many potential customers as possible.
05/25/2018 12:17 PM
Ecommerce Versus Bricks and Mortar Shopping
One can't ignore 95,000,000 monthly visitors to Amazon. And, one cannot ignore the fact that 95% of Americans shop or will shop at Walmart. Ecommerce is set to grow 200% over the next five years. It has grown 38% over the past three months in the USA alone, in comparison to Walmart's online rate of just 11%. Macys, Sears and Walmart are closing stores citing competition from Amazon as a major factor of declining sales.
05/23/2018 09:30 AM
What To Sell Online - 3 Foolproof Products/Services That Make BIG Money Through The Internet
If you're looking to create a side income "online", or are trying to save up money for the likes of a house etc, you may wish to look into the various ways you can earn money by leveraging the huge audience that the Internet has cultivated. The problem with this is that whilst the hoards of "gurus" will give you the "simple step-by-step" remedy to your monetary queries, the majority of opportunities "online" are either only open to a select few, or are extremely ephemeral (can disappear as quickly as they are found). This article looks at 3 ways you can earn money online - by offering products which have perennial value.
05/22/2018 09:04 AM
7 Tips to Consider When Choosing an E-Commerce Platform
E-commerce businesses have acquired immense popularity all across the globe and many entrepreneurs, who wish to make it big in the digital sector, are investing in it. If you are planning to do the same, make sure to choose a platform cautiously because a major part of the success depends on it.


home | site map |