Understanding Your Audience
The same internet marketing principles apply to both product and service base businesses. It comes down to creating content that attracts, engages, and motivates the user to take some kind of action. If you’ve done a good job at prospecting and lead generation, than you are moving in the right direction.
Identifying Revenue Streams
Generating revenue on-line is directly influenced by the nature of your business, but it doesn’t mean that you are limited in how you generate revenue. In other words, just because your site has a primary way of generating revenue, such as selling a product or service, doesn’t mean there aren’t other potential revenue streams. For example, an informational site, such as a blog, can generate revenue in multiple ways. It can make money through user registration, sponsored advertising, by directing affiliate traffic to another site, or selling information not readily available on the site to registered and/or unregistered users (e.g. market research data, “how to” information, additional articles or whitepapers).
How will you utilize the various components of your business on-line (website, e-mail marketing, social media, etc.) to maximize revenues? When developing your business model, on-line presence, and internet marketing strategy, think about potential revenue streams and don’t limit yourself.