Mark Zuckerberg did it (Facebook), Jeff Bezos did it (Amazon), even Tom Anderson (MySpace) did it. There are plenty of young entrepreneurs that have succeeded with building their digital empire. Many of which are achieving it before the age of 40. Guys like Mike Harris who founded the company Egg and First Direct bank, and in his career successfully developed 3 companies that gained a market value over $1 billion, says that you can find your light bulb and turn an idea into a high value product or service. The accessibility to accomplish this through the digital landscape provides a better opportunity than ever before. To get your idea moving in the right direction and emulate those that have succeeded, we have provided the following tips for building your digital empire.
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Have a Clear Vision of What You Want to Achieve
You won’t have any idea of where you are going if you haven’t set a clear goal and path. Set clear targets in terms of:
* What the website will offer?
* Who the website will be tailored to?
* Where the website will host and create its content?
* How the website will get visitors, leads and become monetized?
* How will the website add value to the web community?
Specialize in a Scalable Niche Market
The great thing about marketing and commerce is that there is an opportunity to capitalise on new, emerging or untapped niches. The thing to consider is whether or not the size of the niche will allow you to create a large empire. Before investing into your niche market, conduct research to understand the size, needs, wants and purchase intent of the market.
Pay Close Attention to the Business Model You are Developing
To give your website the best chance of success, you need to develop a business model that generates you leads, sales revenue and a profit. Monitor the cash flow success from the model that you are implementing and identify ways to invest and scale the business further.
Build a Brand that is Iconic
Your brand will ultimately become a symbolic representation of the values of your business. Your brand will be the value-added differentiator for your product and service offerings. It is important that all of the areas that impact your brand are managed to maintain your promise to your customers. Thrive off the errors and mistakes that the competition cannot master. For example, some businesses promise to answer phone enquiries within the first three rings. Coca-Cola promises a refreshing taste. You must provide a differentiating factor that will add value to your product and service offering.
Ensure Quality Whatever You Promote or Publish
On the web, there is an increased demand for quality. This includes the quality of videos, the quality of published content on blogs or editorial pieces. On the web, there is a lot of noise where people publish content that doesn’t offer any strong value. Those that strive to promote high quality content in their niche will reinforce their credibility and add a perception of expertise in their field.
Choose a Hosting Provider with Reliable Traffic Bandwidth & Security
Partnering with the right hosting provider is crucial to maintaining your digital success. There is the ongoing threat of hackers, malware, spyware and insufficient bandwidth. If your website appears to be down or insecure, you will lose valuable traffic leads and lose business from potential customers. Nowadays, businesses are presented with a variety of cost-effective hosting options including shared hosting, VPS and dedicated servers. Look into the features, benefits, security and management costs associated with each prior to making a decision on which solution to opt for.
Leverage User Experience and Design to Compel Value & Trust to Your Audience
Some businesses develop a website model that works, but they shoot themselves in the foot by providing a poor customer experience for users on the website. The web design should enhance the user experience in terms of the aesthetic appeal and navigating the web user to take the desired action on the website.
Implement a CRM System to Amplify Your Web Brand
Many businesses fail to generate extra business by not implementing a customer relationship management system. Email marketing remains the primary method to build and maintain the relationship. However, online and offline newsletters and retargeting can also amplify your brand presence to those people that actively want to give you their business.
Ensure Your Visibility in Google Search Results for Your Potential Customers
Once your website is up and running, you want to make sure that people can find you successfully. Google and other search engines seek to organise the web through their organic search results. This means the business will need to invest in SEO strategies to increase their visibility across lead-generating keywords. Websites can also drive traffic through their paid search advertising as well.
Implement a Lead Generating System to Keep the Sales Pipeline Full
The success of your digital empire will ultimately come down to how much it makes in terms of cashflow and in terms of equity. To build up the equity, you would usually need to generate a high amount of cash flow. To accomplish this, the business needs to be making sales, but it also needs to have a pipeline of leads that wants to proceed with the sales. The more pipeline leads there are, the stronger the probability of your digital venture’s success.
These are 10 points that should guarantee your business’s development and successful outcome when developing your digital empire. Many others are following a similar strategy to build their entrepreneurial success. Start yours today!
Cameron Sutherland is the Managing Director of Host Geek and his passion for IT and all things digital are clearly evident in his articles. He believes that support and reliable service are of the utmost importance in the service sector and thus continuously strives to exceed the expectations of his customers. He enjoys sharing his knowledge on web hosting and offering useful advice to small business owners through various blogs.