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7 Key Steps In Starting Your Own Online Business Profitably In 2020

The post 7 Key Steps In Starting Your Own Online Business Profitably In 2020 appeared first on Social Media Verve.

7 steps to start an online business in 2020

Lots of people dream of starting their own business and creating a life that lets them have the freedom of work while getting paid. The problem is that 99 percent of people don’t follow through with this successfully.

Accomplishing it is simpler than you think by selling Marketing Services. We’ve developed a successful 7 figures company by selling just Dental Marketing Services to dental practitioners who wish to get more patients.

We took all of the significant lessons we discovered throughout our journey and we put them into this article so that you don’t repeat our mistakes.

Follow the 7 tips listed below to shortcut your way to building a successful business by offering marketing services from anywhere in the world, even if you have zero prior experience in running a company whatsoever.

Let’s dive right in.

Step 1: Choose your specific niche very carefully

Why are most marketing agencies performing so badly?

Because they’re scared to position themselves. The truth is:

Agencies worry that positioning will limit their opportunity.

They become caught in thinking that if they specialize in the services they deliver, they will be stuck in a box.

They risk this opportunity into dealing with different projects at once.

Let me clarify why this isn’t true.

When I began my very first consulting business, we focused on everything. We handled all kinds of firms and projects– from conversion optimization to lead generation and registration.

After a while, we saw that we worked much better with specific business niches. We decided to take a chance and started narrowing our position to exclusively deal with dental practices.

Dental marketing

We ended up offering just Dental Marketing services to help dentists promote their dental practice and attract new patients.

Everything shifted to serve just dentists. We didn’t offer “online marketing services” any longer, but we offered online dental marketing services.

We provided social media marketing services for dentists. We began developing dental websites. We offered dental marketing ideas instead of “general” marketing ideas. We began developing dental marketing plans instead of “general” marketing plans.

You see how everything repositioned itself to serve a single customer: dental offices.

Did it hurt our business, you may ask?

While it closed a few doors for us, it opened a great deal of doors too. I was able to take on customers who I enjoyed dealing with, instead of handling projects I didn’t appreciate. Plus the conversion rate shot up incredibly because people preferred an option that is developed for them only.

Think of it this way:

If there are agencies specializing in working in a specific niche, you realize the market is worth it and profitable pursuing.

Keep in mind, we can work from anywhere (thanks to the internet!).

That’s why you should aim your business to target the competition at a global market level. Try to aim for at least 3,000-15,000 prospective clients all over the world that need what you’re offering.

Step 2: Discover Your Very First Customers

This is the step that a great deal of new marketers get stuck on. How can you identify a scalable way to bring new clients in?

The most basic way to get your first brand-new clients is to get consumers to find you.

For this I recommend an inbound marketing approach where you bring in clients by offering them some sort of value.

You can write blog posts on topics that show your specialized expertise. Host webinars for your target audience. Start publishing on social networks.

Example: selling dental marketing services to dentists

For our dental marketing agency, dentists find us through a number of methods.

They find our website when they wish to promote their dental practice and look for “dental marketing services” on Google.

They also discover our blog posts when they are looking for dental marketing ideas, dental marketing strategies, dental marketing plans.

All this offers some type of value to them and help us develop trust and goodwill.

Inbound marketing probably brought you to the post you are reading now from Google or social media.

3. Put together different pricing plans.

Some people are looking for a single service while others always want the high-end bundle.

So if you only have one price, you’ll lose customers who desire extra services.

Make sure you create various packages – the most inexpensive one, a more costly one, an even more pricey one and the “high-end package”.

That way, you have a standard service and VIP option. The difference is the quantity and kind of work you’ll do.

4. Win clients, quick.

If somebody never dealt with you, they’ll be doubtful of working with you.

But there are methods to solve this.

You can provide something useful totally free. This is what we call the “results in advance technique”.

You can do a free analysis of their site and social media accounts using a premade template.

You can offer helpful insights through blog articles. You can get your website or blog visitors to sign up for your newsletter and provide exclusive tips there.

You can offer a free course or a completely free training or a free webinar.

Keep in mind, cost is rarely a problem. If you have actually attracted the right people, the correct potential customers, it’s only a matter of trust.

To sell our dental marketing services we are offering totally free tips through our useful blog posts. Pay attention though, we are not trying to promote anything through our blog. We are simply providing truly helpful ideas.

Do not try to make content only for the sake of doing it. Be sure it’s top notched because that’s what catches the attention of your customers.

For instance, to promote our dental marketing services to dentists, we are not writing some general ideas people can find anywhere online.

We are writing extensive how-to blog posts where we discuss everything in detail so that dentists can leave with valuable information after checking out that post.

5. Track results.

You need to prove that you’re making your clients money. So make sure you track results based upon their goals.

One of the primary selling propositions for our dental marketing services is that we help dentists promote their dental practice and attract new patients.

The ultimate objective is to grow their dental practice?

This means that we track the number of scheduled appointments we get. However we don’t stop here.

We additionally track the number of leads. We also track the number of people who call vs. number of people who never show up.

We track the number of blog visitors the blog brought in.

Google analytics reports showing user metrics

We keep track of the position in Google.

You see, if anytime a client comes to us and says that she or he doesn’t “feel” that they are getting the results we promised, we can quickly prove what we are doing.

You should not do anything without tracking and measuring end results.

6. Create procedures and processes

Running an effective service company is all about performance.

If you’re not efficient, you can’t grow.

Let me give you straightforward example.

We’re offering dental marketing services to dentists who wish to grow their dental practice.

Let’s say a dentist pays us $10.000. Let’s say the cost of salaries and all the rest of our expenditures is $8000.

In the extreme case, if we’re not effective with what we do, it means we can’t take more clients (simply because we do not have time for it).

We’re stuck at $2000 in profit if we can’t take more customers. And we can’t grow.

In order to be efficient in an agency, you don’t have to reinvent the wheel.

You do not need to start from scratch if a client wants an ad. Put all your expertise from PREVIOUS clients into procedures, templates and frameworks.

In this way, you don’t start from 0. You begin with 10, for instance.

7. Hire staff.

You’re human, you have 24 hr in a day like the rest of us. You burn out and you can’t do everything on your own.

People silhouettes standing

This is why you really need people who can complement your skills. If you’re not very good at design, do not force it. It will take you 1 hour to do something easy that a designer can whip up in under 10 minutes.

I know what you think: “but I can’t afford hiring people”.

You can’t afford not to. If your unit economics are all in place, if the mathematics works out (i.e. you make more money than you put in advertising and salaries), you can hire more people.

As Allan Nation puts it: 

“You never truly make money working for yourself. You make money when other people work for you.”

Conclusion:

Is it tough to offer marketing services?

Handling people is hard enough already. If you follow the 7 tips laid out in this article, you’ll make your life much easier.

It doesn’t matter whether you’re selling dental marketing services to dentists as we do or you’re selling any other type of services, you can effectively start and run your business if you follow the simple straightforward steps that we mentioned in this article.

Here’s a recap:

  • Choose your niche
  • Get the very first clients to discover you instead of chasing them
  • Develop package fees
  • Win clients quickly by providing results in advance
  • Track results
  • Create processes and procedures
  • Keep in mind, you are human. Hire staff

7 Key Steps In Starting Your Own Online Business Profitably In 2020
Akinade Eniolabi



This post first appeared on Social Media Verve: Helping Business Suceed With Online Marketing, please read the originial post: here

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7 Key Steps In Starting Your Own Online Business Profitably In 2020

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