Ten Questions You Must Answer to Make Your Online Business Successful

There is always a lot going on. Some big events are happening this year. Here are just a few of headliners:

§ In the UK this weekend, there is a long holiday weekend in celebration of the Diamond Jubilee of Queen Elizabeth II which marks the 60th anniversary of her accession to the throne.

§ In June, millions of soccer fans will be watching the 2012 UEFA European Football Championship, held in Poland and Ukraine.

§ The 2012 Summer Olympic Games will take place in London in July and August.

§ The US presidential elections will be held in November 2012 where incumbent President Barack Obama is running for a second and final term of office.

All of these are huge events that will covered extensively by the media and it is very likely that somewhere in the world somebody is talking about one of these things right now. Of course, there are many more events that happen every day that don’t make the headlines but do affect our daily lives.

The big stories tend to make the news about your online business ventures seem very small. Are people really going to want to know about your new website or a new product that you have for sale with your online business?

Well, yes they are if you make sure that what you have to say is relevant and has a direct benefit to them. Let’s look at those big events mentioned just before. They are headline events, but they will not appeal to everybody. If you have no interest in soccer, you may not of even known about the European Football Championship this year. Let’s say you are a fan of gymnastics, chances are that you’re going to follow what happens at the Olympic gymnastics tournaments – but maybe you won’t really that interested in the rowing. We all have different things that appeal to us.

Here are 10 questions that you need to answer for your online business to succeed:

1. Why have you created an online business?

2. What do you want it to achieve?

3. Who is your target customer?

4. How will you reach or communicate to them?

5. When will you reach or communicate to them?

6. Who are your competitors?

7. What is your marketing budget?

8. How will track the effectiveness of your marketing?

9. How will you get your customers to buy from you again?

10. And, most importantly: What is the core benefit, the single simple message that you are communicating to your potential customer?

I have worked in the advertising and marketing industry for over 26 years and it is surprising how many business owners do not know the answers to these questions – especially the last one. These questions apply whether you are running an offline or online business. The last question, number 10, is known as the ‘Single Minded Proposition’ or SMP. Sometimes, it is also referred to as the Unique Selling Proposition (USP). The simple reason for the SMP is: If you don’t know why customers should buy from you, then how to do expect them to know?

Take the time to carefully consider the answers to these questions. Once you have them, you have the basic foundation for your online business which will help you to get it heard above the noise of everything else that is happening in this busy world.