Congratulations! You’re now in the third step that any business must take to find the final fruit: the profit.
The first step is the idea, the company, the investment, the core business.
The second one is the product, how to get your idea in front of customers. Sometimes is building a whole factory, sometimes is just writing a few lines of code in a computer.
The third step is the hardest one: to convince your audience to become a customer.
First of all, you need an audience. It’s pretty easy and cheap to open a store in the farm of you grandfather but no one will realize you’re there. You can have the best product in the world but you won’t sell a dime. On the contrary, you’ll get a lot of punters if you open your store in a corner of the main street but it’s impressively expensive.
The online world has its own advantages and you can open an online store in a hidden (and cheap) corner of the www and make it as profitable as the most known domain in the world. The key is to only make efforts whose return you can measure. If you buy a 30 seconds ad in TV for your online shop you’ll never know if customers came after seeing this ad or because a friend told him about your website. Probably a TV spot is very good for your business but you can’t know it because you can’t measure its real impact.
There are too some very interesting ways to increase your web presence in the long term, like to have a blog or a Youtube’s channel, but you can’t directly measure the efforts you put there and the return you get.
Here are three ways to increase your base of customers. You can measure the return of the investment of every one and adjust it according to the results you get along the weeks (or even days).
1.- Ads in Google Search. Google Adwords is truly complicated. Period. The first week you must be prepared to waste a nice bunch of dollars because you forgot to click some checkmark or because you did a wrong selection of your keywords or you have a poorly designed landing page. Search online some free tutorials about Adwords and take two of three of them. With your own experience, you’ll learn what keywords are the best ones for you and how much you make with that investment. If you’re in red numbers a week (or a few hundred dollars) after, maybe you should look for an Adwords professional.
2.- Ads in Facebook. Although they’re very much easy than Adwords, they’re too a little bit more expensive because the price increases proportionally to the adjustment of the audience. If you sell tools for farmers with northern red oak, you can exclude from your target non US people or, directly, select some states but it will increase your price. As I wrote before, if you’re in red numbers after a few hundred dollars, look for a Facebook Ads expert.
3.- Aggressive offers. Sometimes, you can see that William Hill Vegas casino offers bonuses for new players. They pay to you to play! They call it “acquisition cost” and it’s just an investment because they know how much can pay and what is their profit for every new player they gain. Probably you don’t have the deep pockets of these big gaming companies but you can do some aggressive offers with zero margin for you (never selling at a loss!) and spread it all over your social networks. You’ll have a lot of work but this is a great way to have new customers and keep their emails (the best and free tool for online marketing). You can measure the hours of work and the results of your campaign (returning customers) to decide if it’s a valuable way to promote your online store.
And remember, don’t do anything you can’t measure.