Creating a Success Formula

There are several basic elements of a successful online business. Each of these can help a business owner learn how to promote their business on the web. Hundreds of thousands of businesses get started each year. More than 90% of web businesses disappear into cyberspace within a few months.

The reasons for failure go far beyond website and logo design. Many of them are the result of just throwing together a platfrom and hope people will buy. The following is an ‘internet based’ formula for building the foundation of a good internet business.

Calculating Your Success Formula

The success formula is fairly simple. Create - three elements for your web business, and limit the minus elements to two, if possible.

Plus:
• Testified/verifiable service
• Safe/reputable service
• Professionalism/certification
• Additional bonuses
• Recognized by industry experts.

Minus:
• High Prices
• Unfamiliar products/techniques
• Low quality marketing
• Forcing customers to change

Competitor Strength and Weakness

Next, do a competitor strength and weakness test. A good report must be done by an SEO specialist. However, the average webmaster can do a simple report.

Do not look for the flashiest websites, or the most promoted. Make a list of 10 websites that sell and fill in the following questionnaire:

• What keywords do they use?
• What titles do they use?
• Write out their descriptions
• How many pages on the website?
• How many pages of content?
• How many inbound links do they have? (link: www.domainname.com)
• Where do their links come from?
• Do they run an Internet Marketing Campaign?
• Did they hire professionals to create their platform, branding, advertising?

Now, find 10 websites that you believe are your competitors, and answer the same question. This is incredibly simple. An SEO’s software will run for 2 or 3 hours, to check just a few websites. DIY marketers try to do this all themselves. But, a pattern should start forming.

One thing an SEO’s software can avoid is being caught in the hype. It can be difficult to separate the real data, from the ad-copy. A success formula is based on your unique offerings and services. Every company online has a success formula (or a failure formula). These may be different between industries. The success formula for Ebay is not the same as it is for an online Magazine.

The first question is determined by your budget, the more you offer, the more money you need to promote it. Use those patterns to develop a web platform that will help your company thrive on the internet.