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Tools to Market, Analyze and Track the Success of Your Online Business

ArticleID 51  
Writer Isaac Thuku
Category Personal Article
The coming of the Internet has changed people’s lives and relationships. Today, it is possible for individuals, small and large corporations to compete virtually on the same platform, hence the emergence of internet businesses. Internet businesses use the electronic media platform to sell the products or services. Because an online business simply requires accessibility to the internet, it can be done from a home based environment with internet connectivity. Running an online business requires one to open up a website, and this has been made possible by some of the leading global corporations like Yahoo and eBay that provide online stores for internet businesses.

Compared to brick based businesses that require physical premises, it is easier and more convenient to run an internet business to build customer relationships online, thereby keeping in touch with customer requirements. With growing internet connectivity worldwide, it is now possible to conveniently conduct eCommerce and attain global customer reach. Internet businesses have a high Return on Investment (ROI) since advertising online will have a wider reach globally when compared to the traditional modes of advertising like television, radio and exhibitions.

Because online businesses do not have physical premises, product or service marketing cannot be done physically. Before starting any business, a preliminary campaign to establish if there is an existing market is as important as is the investment capital for the idea. This may mean emailing existing friends and family members to share your business idea and getting their feedback. Online marketing through campaigns on social media and websites such as Google Ad can help build new networks and referral and will in the long run end up as the cheaper and more efficient option. Upon the success of the preliminary market survey, investment finance may come from many sources including bank finance, equity finance or personal sources.

A company’s visibility is very critical to its success. When developing a website for an online business, more robust and proper key words should be used that will lead to increase in visibility through popular search engine sites. This will also ensure that where paid ads are used, links to the primary site are also developed in the adverts. When properly set up, statistical sites like Google Analytics help gather information on website visitors, the reason for their visit and how they get to the website, and this helps in tracking and monitoring the success of any marketing campaigns used.

Establishing company websites without any visitors to the site is as good as doing nothing at all. A number of statistical tools can be used to track the results an online marketing campaign. Tools such as Yahoo Website Analytics and Google Analytics can be used to track a business’ website traffic and assess if the online marketing efforts are successful and cost effective; consequently helping in improving the online business’ marketing activities. It means that when developing an online business company’s website, proper SEO forecasting should be done to determine the prediction of the returns to be undertaken when potential customers undertake searches on global search engines such as Google and yahoo. This will help track online the number of traffic hits or users on such search sites and consequently influence the eventual ROI of an online marketing campaign.

ROI, Return on Investment, online marketing, tracking, marketing investment
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