Three Components of an Online Business Plan

The first thing any internet marketer should do is come up with an online business plan. This is the crucial element that will help you treat your web ventures with the same amount of respect and dedication that you would an offline entrepreneurial pursuit. In other words, preparation is what you need to succeed. Here are the components that should be part of your blueprint.

Topic Choice

Everything starts with the idea meant to generate income. This is where you have to ask yourself what topic you want to specialize in. For most marketers, the first real decision they have to make is to choose between working in an obscure niche or in a large, popular one. Obviously, going into online business planning for popular topics will give you more avenues to earn but it will also push you towards greater competition. Obscure niche markets have less completion but fewer ways to make money out of.

When you’ve picked an area of concentration, you then have to determine how to monetize it. Some marketers hope to earn mainly from advertising but the big bucks really come from affiliate marketing and product or service promotion.

Before you aggressively market your site and its contents, arrange for a soft launch or test drive first. This will enable you to determine at this early stage in your online business plans if visitors can convert to sales. The easiest way to test this is through the use of pay per click advertising.

Marketing Strategy

When you’ve determined the profitability of your chosen niche, the second phase is to market it. There are many different ways to do this but in the online world much of your success hinges on search engine optimization. At the onset, this would primarily mean link building. This is what you need to get your site ranked in search engines and to get it discovered by potential customers.

There are many ways to approach link generation. There are a lot of expertly made online business plans however that mainly emphasize article marketing coupled with video marketing. Although both involve two different kinds of content, both can carry back links to your site and both have the potential to capture the attention of real readers. You can easily make materials that are intended to just carry your links. It is often best though to make them specifically to assist or inform real humans.

Contracting Work

You may have to use up a lot of your own time at the beginning of a marketing campaign. For the most part though, you don’t need to waste a lot of your time on recurring tasks such as content production. These can be contracted to freelancers or small outsource companies in other countries. Aside from saving time, outsourcing can also help you save cash. These days, it is far cheaper to pay contractors or companies for web projects than to hire local workers.

Your online business plan can actually be more complicated than this simple outline. These three components however are the most essential ones you should pay attention to. Get these right the first time and you will be setting yourself up for a successful future in the internet.