Congratulations to our client, Maylake Pty Ltd of the Gold Coast, who recently opened th...
Building a Better Online Business
Creating and managing your online business requires you to follow the same basic principals of any business - relying on sound Business Strategies. There are however, a few practices that differ or that just are unique to an online business. Here we share our views and experience with you to help you develop a more effective and profitable online business.
Many people have continually talked abut creating a passive income through their web site. Many have been successful but the job is a lot harder these days and you have to be smarter about it and you need to be seen as offering true value. What was once easy income creating an eBook and then creating a web page to sell that book is now facing so much competition and it is so much harder to rank in the search engines you need to tackle the solution in a different manner. We still have those offering the quick buck solution with the miracle eBook that holds all the answer to everyone’s problems. There is a better way.
I have come to notice a growing trend with web site owners whereby they are seeking to capture their market’s attention offering a range of value add products and services on an exclusive basis to ‘members’. Turning your intellectual property, that which you know as an expert in your field, into a product that can be packed, marketed and distributed to a global audience is the solution.
The service industry is a classic example of this. Many businesses in the financial sector, business services and particularly the wellness and personal development industries are doing just this with a range of offerings to their members. The best part is, if you truly offer value with your products you can charge for the privilege. After all, who minds paying $20, $30 or even $50 a month to receive great insight and practical information and tools to improve yourself or your business.
Two examples with current clients where one provides a range of fitness and nutrition programs and the other provides training programs to business owners and sales people.
In the case of the fitness instructor they have traditionally offered programs with personal classes that were small with limited capacity thus limiting her income level. Knowing what she does, she has developed a range of products based on her classes supported by a number of other products she offers as a distributor all of which she offers online to ‘members’. As a member they get access to a broad spectrum of other information services and the ability to share information within the membership.
My second client has recognised that this training material can all be delivered through a number of different medium including articles, eBooks, CD’s and online video. By carefully taking this material and packing it up, members will receive monthly training programs very specifically aimed at developing their skills in business. The whole process of signup, regular communication, information sharing and product distribution is automatic. Members pay a monthly fee which is automatically charged to their credit card and it just keeps growing.
The secret is of course in delivering continuing value through rich and relevant content. You don’t just create this and then walk away and let it make money. You have to work at building your product, you have to market it and you must keep it interesting and relevant.
As someone said to me the other day, “I always knew what I wanted but just never realised that I could so easily do all of this through the web. I really thought it was too expensive and too difficult for me to achieve as a single person”.
If you would like to know more about how we have worked with such clients creating a member portal that is truly reflective of their branding, products and business model then give us a call. Not every member site will make money because it still boils down to having the right product, knowing your market and doing your homework. You know your business, we know how to deliver to those business needs so give us a call and we would love to discuss your ideas.