Building Your Online Business

For the first time ever, online ad revenue has surpassed print ad revenue for the US news industry. Now consider that this is only for the news industry which has for centuries relied on paper for their primary means of communication, and it's been obvious that print advertising has been on a rapid decline for a number of years. Online marketing is replacing print marketing handily, and without much effort.

There are a number of reasons for this:

COST

Print ads are normally far more expensive than placing an ad on your site. You can spend a good chunk of cash putting an ad into a newspaper, or, provided you have a website, you can post the same ad online for next to nothing with no more than your time and effort. 

RELEVANCE

It is far easier to target your market audience online than it is to target your audience in a newspaper that targets everyone. Unless you are advertising in a magazine specific to your industry, you may be hard-pressed to attract the relevant clients - especially if your ad only runs for a limited number of days.

SPEED

Information passes hands far quicker on the web than any print medium could ever hope to. Take, for example, the use of social networking sites such as Twitter and Facebook to relay information to the world from Iran during elections on Friday June 12th, 2009.  Citizens were able to get information out to the world regarding the Iran's election practices and possible corruption.  Information was relayed instantaneously with events as they happened.  How powerful is that!?

DIALOGUE

Let's face it, print advertising is a one-way street.  It is a medium that pleads to be read, but offers no quick and easy way to respond.  A good blog, for example, will allow potential clients to respond to what you have written, and open dialogue between your company and your client base.

In order to effectively market yourself online, however, you do need to know some basics.  There is a rather steep learning curve to online marketing which can be daunting.  However, once you are in the game, and start reaping the benefits of lightning-quick mailouts, with laser-like marketing precision, you'll wonder why you hadn't your online marketing campaign far sooner.

Here are a few pointers in getting your business online in the best way possible:

Pay Attention to and Take Care of your Website

Your Website is a fantastic way to show how professional and relevant your company is.  On the other side of the coin, your website is the best way to show how unprofessional and out-of-date your company is.  Keep in mind that if someone is searching for a company, most of the time, they will go online to find it.  I haven't used a phonebook in years because I know that I can find all relevant information in a matter of seconds online including store hours, phone numbers, and if I'm lucky, an online store of products.  It cannot be stressed enough that your website represents your company and should be professional, clean, and easy to navigate. 

To put things in perspective, a visitor will get a general impression of your site in a fraction of a second.  In 2 seconds, the visitor may have decided whether or not to stay on your site, or to click on a link on your page to read more.  This means that if your site is sloppy, confusing, or looking outdated, you may have lost a potential client no matter how high the quality of your product is.  Your online business is worth some effort.  Showing that you haven't taken some pride in your business may just show your client how much you care about the work you do.  It may sound brutal, but it's true - especially to those who don't already know your business.

Build your Community

Networking is dead simple with the online tools we have today and is done through social media websites.  Familiarize yourself with the two essential Social Media sites: Facebook, and Twitter, and use them to communicate with your client base.  They will both allow you to connect with a great number of people and start targeting your company updates to those that are interested in your business.  Once you have created business accounts for each of these sites, use them to communicate company updates, interesting tidbits of information, links to new articles, or opinions on new industry trends, for example.  By posting clear, relevant information on these sites, people will come.

An excellent, motivational resource to get you started with social media is Gary Vaynerchuck's Crush It.  The book takes you step by step through his process of becoming wildly successful.  His advice will give you a solid foundation on how to successfuly market your company online using social media tools.

Offer Something for Free

It works a charm to offer something for free.  I'm not saying that you need to give away your product for free, but giving away information or insight is an invaluable way of making people happy.  If you are an expert in your field, offer do-it-yourself advice on how to accomplish small tasks.  Advise people on what to look for in a company such as yours (and be darned sure to follow your own guidelines!).  You will start a reputation for being helpful without having ever met your potential client.  I've seen companies create their own resource guides, offering the first couple of chapters for free, and then charging a small fee for the rest of the guide in pdf (electronic) format.

Start a Blog

A blog is not only a great way to offer free information to your clients, but also an excellent way to open a dialogue with them.  Most good blogs have the option of posting comments in response to the articles.  What better way is there to have clients respond to, ask questions of, or criticize your company?  Yes, criticize your company.  After all, don't you want to know immediately if your company is doing something to turn away potential clients?  This is a great way to immediately respond to or address a client's concerns and show that you are open to concerns and address issues in a timely manner.  What a better way to show the accountability and maturity of your company!  (Read more here for tips on blogging and how it can strengthen your company image.)

Not only does a blog open lines of communication, but it is also a great way to keep your content fresh and relevant.  This means that your site will more easily be found online by search engines such as Google.

Don't be Afraid

Jump into the online world, or have someone in your comany to jump in for you.  If you are apprehensive, start small.  Get a site, and hire someone that will take the time to explain your options and the costs involved, and don't stop.  Take it one step at a time, and make sure that you complete each step well.  Before you know it, you will have something to be proud of.

Resources

Washington Post - Online Revenue

On Twitter

Crush It