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How to Start a Profitable Online Business [Part 3]

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In Part 1 and Part 2, we went through the preliminary stages of Starting a Profitable Online business and delved into online payments, delivery options etc. Now we’re going to wind down with marketing and other crucial business considerations.

 Publish an Email Newsletter

Capturing the email addresses of your website visitors is critical to the growth of every online business. However, a large and growing list is only valuable when useful and relevant information is sent on a regular basis to these individuals. The goal of an email list is to turn prospects into clients and clients into repeat customers and ambassadors for your company/product.

Try to keep in regular contact with your email list, emailing them at least once a week with an update, information, or some type of offer.

A great email marketing service provider is AWeber.com.

The best way to get people to subscribe to your list is to offer some type of valuable free offer. This can be a free report, white paper, or a discount/coupon code. These types of offers work better than a plain ‘subscribe to our newsletter’ offer.

It’s absolutely critical that you implement an email marketing strategy into your business as email marketing is still the highest ROI activity you can use to market and sell your products online.

Track Growth

Easy (and free) tools are available that allow you to see who clicked where and when. Many Web hosting companies offer traffic analyzing tools.

Google Analytics is a free tool – which tracks, among other things:

Popular pages

Traffic sources

Popular keywords

Location of clicks

These reports can be customized with a plethora of variables including date range, page views, and length of time on site.

Other things you may want to consider tracking is how many people are opening your emails and clicking on the links back to your website.

While visitor traffic provides an interesting gauge, what you are really looking for is transactions. Whether you are selling a product or a service, success is measured in sales.

It’s absolutely critical that you track and analyze these key metrics on your website; otherwise, how will you know what’s working, what’s not working, and what you need to do to improve conversions?

Other Business Considerations

In addition to the specific online considerations, you’ll deal with crucial considerations like;

Taxation

Banking

Licensing and trademarks

Legal business structure

Business location

Product warehousing

Accounting

Legal matters, among other things

Notice these items are listed last. Although important, you don’t want to let doing these things hold you back. The idea is to pick your market, get a domain name, build your website, and start generating revenue as quickly as possible and work out the details along the way! We have got an affordable legal