Turning An Online Brand Into Profit

by Mike on March 6, 2017

Turning An Online Brand Into Profit

Running an online business can be a new and scary undertaking, but it’s an increasingly popular one in the modern, digital era. Still, it can be easy to make mistakes and ruin the chances of profiting from this new enterprise, even if you’re experiencing growth today. A good idea and the right levels of determination to make it happen are both necessary to success, of course, but there’s more to profiting than endless growth.

Making money is all about knowing when to spend and when to save money. Making money is about knowing how to protect profits once you’ve made them. If you’re wondering how financially secure your online brand may be and you want to ensure you continue to make a profit from this enterprise, here are some top tips.

Protect your data.

Making money is about saving money in emergency situations. It’s easy for entrepreneurs to get carried away with the endless growth of their brainchild, but protecting your online business’ profits is about preparing for unexpected events. Your company is based on the internet, which means you rely on digital storage and technology for the safety of your entire business, rather than physically-grounded solutions. Of course, technology is physically-grounded, but a problem with the server on which your website runs could mean hours of downtime and, in turn, a loss of profits.

Backing up your business’ online data means you have a safety net should something ever happen to your website or any important information stored online. Using a cloud storage system means that your business’ ever-important information is not only stored in a second, secure server in another location, but that it’s also incredibly easy to access. Succeeding as an online brand is about succeeding internally as well as externally; your image has to be impressive on the outside, but there has to be substance on the inside to backup your claims. You need to prioritise security and accessibility, whether you’re the solo runner of this mini enterprise or you have a team working for you.

Know your audience.

So many small online businesses fail to succeed because they fail to truly understand the target market. Perhaps you’ve enjoyed some sales and some level of success, but you might not be honing in on the entirety of the range of potential customers out there. Your business might not be reaching out to the entirety of its target audience. You need to know what your customers want so that you can target your marketing and your message to said customers. You have to portray a value, rather than simply portraying a desire to profit.

As I mentioned earlier, succeeding as an online brand is about there being substance behind the face or the image your business presents. Customers can suss out a phony, unreliable brand rather quickly, and you likely don’t want your company to be perceived as such anyway. Truly succeeding is about overcoming the obstacles placed before online businesses, such as the difficulty of proving how human your online brand may be given the lack of face-to-face contact. You have to appeal to the core human values at the heart of your target audience to make up for this lack of a physical presence. You have to work hard to show how real your business is, as I discuss next…

Create a professional, believable image.

Just because your business exists in the online realm, this does not mean you have to cut corners in terms of professionalism and creating a “real” image. Customers will expect the same degree of reliability, trustworthiness and quality from your company as they would expect from any physical store or office on the high street. You need to keep up impressions if you want your online brand to be profitable.

For example, you could rent a virtual mailbox, so as to project a professional base of operations online, whilst being able to access your business’ important mail and received documents where you or your employees may be in the world. Remaining organised and professional benefits customers in terms of reassuring them that your business is the real deal, but it also makes things easier for your company in terms of its core operations. It’s in your best interests for the image you portray to be based on reality, as I’ll discuss next…

Online marketing.

Your online brand needs to market itself effectively to profit. Shoving your name into adverts on websites or blogs isn’t usually enough; customers grow weary of popups and forced promotional tactics. People like to come across businesses and services of their own accord, and this is where SEO (or Search Engine Optimisation) comes into play. Your potential clients will browse search engines such as Google or Bing for the services they need, which means your business needs to show up before its competitors on result pages. To do so, you need to optimise your website in terms of a responsive layout and core keywords in order to rank more effectively. This will also further impress visitors to your website, increasing the potential for sales and profit.

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