Todd NesnickThe internet has changed the way business works. Millions of entrepreneurs have figured out how to leverage the WWW and use it as a distribution tool, making online businesses one of the most desirable income sources on the globe.
The good news is that there is an online business model for almost any goods or services, regardless of what your niche might be.
Gambling is the perfect example – instead of getting overrun by the digital revolution, the industry seized the opportunity, and major gambling platforms like 7 slot casino were born.
Below are two universal business principles that major industries have applied to their own online ventures, and there’s no reason you cannot do it too.
Go All in on the Product
There is a saying that no marketing will help you if you have nothing worth selling. Every business revolves around a product. Whether you’re offering freelance writing services, bookkeeping and accounting, or selling t-shirts with cats and puppies on them, the quality of your products determines if they will get purchased over and over again.
When it came to cars, Henry Ford was known for demanding only top-notch quality from his engineers and would delay launching new models for years due to not meeting high-quality standards.
That is why everybody on the planet knows about Ford and why it is only one of the two car companies in the USA’s history that have never gone bankrupt.
Sure, you can trick anyone into buying once from you, but as soon as they realize what you’ve sold them wasn’t worth their hard-earned money, it will be utterly challenging to build trust again, even if you develop a solid product later.
That is why quality should be your top priority! Nothing will make your customers buy from your competition quicker than the lack of it.
Master the Skill of Marketing
The above is true – no marketing can sell a bad product. But, when you develop a good product, people need to find out about its quality, and that’s where marketing jumps in.
Putting your business out there through as many channels of communication as possible is vital for reaching your potential customers, and luckily, the internet has made it simpler than ever before.
Social Media Marketing
Social media is everywhere, so it’s logical that it’s the most dominant form of marketing today. If done correctly, it can lead to wonderful results.
You could run Instagram and Facebook campaigns promoting your business, shoot a video for Youtube ads, or expand your reach through LinkedIn, Telegram, Discord, or any other digital platform you can think of that has people who could potentially buy from your business.
You want to address the change your business can introduce to their lives in a way that doesn’t feel like spamming or hard selling. That’s where storytelling comes in.
Brand Storytelling
If someone told you to buy the product because it has X, Y, and Z characteristics – maybe you’ll buy it or not.
But when you’re shopping for Nike shoes, you aren’t just buying sports equipment. You’re purchasing the underdog story, the chance to feel like LeBron James or Serena Williams while you’re out there playing.
If someone told you all the practical implications that product could have in your life and the lives of others and how it could help you feel better and get closer to the goals you have in mind, then it would be much harder to ignore it.
Word of Mouth
One of the oldest processes of marketing is the word of mouth. The premise is simple – make a good product, and the satisfied customers will talk about it with the people around them. This way, your customer base expands without any additional costs.
What’s exciting about this method is that it produced results when people could talk to a couple of dozens of people around them.
Now, imagine what it can do when people can reach out to anyone around the world. The word comes through various channels like blogs, videos, tweets, etc, but it’s still a word, making this method one of the all-time greats.
Long story short – to make your online business run successfully, invest time in studying marketing because it will pay big-time dividends.
Final Thoughts
There are no secrets to business success, but following the proven principles will make life simpler when you get stuck in an unknown situation.
If you want to launch an online business, be ready to face many practical challenges that will require you to keep learning and adjusting along the way.
Just make sure you never forget the fundamentals that have been the core of every business on planet Earth, and you’ll be fine in the long run.