How to Create an Online Business Model
A business model refers to how a business operates. An online business model employs online business strategies, such as developing a website and Internet advertising. Online business strategies can help a business reach new customers, allowing the business to expand its marketplace and increase revenue. When developing an online business model, start with a website.
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Instructions
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Determine the goals of your online business model. Will you be utilizing your company website to sell merchandise? Or, will your website be strictly for informative purposes? Knowing your goals will help you develop an effective online business model.
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Establish your online business model budget. To start a website you will need to purchase a domain name from a registrar company and pay a web hosting company to maintain your website online. Internet marketing (advertising your company on the Internet), may also add to your expenses. The costs of domain names, web hosting companies, and online advertising varies depending on services included.
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Purchase a domain name from a registrar company. You can find a list of registrar companies by following the "ICANN" link listed under the Resources section of this article.
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Obtain the services of a web hosting company. You can search for the top web hosting companies in your country by following the "Web Hosting Info" link underneath the Resources section.
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Develop your website to best satisfy your company's goals. Your website should be visually appealing with content appropriate to your business.
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Utilize internet marketing tools, like banners on other websites and query-based, paid placement ads, to help promote your company's website. After all, your website will only be effective if people know the site exists.
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Tips & Warnings
Sell advertising space on your website to increase company revenue. This also helps to cover your Internet marketing expenses.
Include SEO (Search Engine Optimization) keywords, words you would enter into a search engine to find your website, throughout the content of your site. The majority of web traffic (people visiting your company's website) comes from search engines, and search engines use SEO keywords to help generate results to search queries.
Get credible websites to link to your website. The more websites which link to your site the farther up your company website will appear on search engine results.
Keep track of the web traffic each page of your company's website receives. If certain web pages do not garner much web traffic, make adjustments to the navigation system of your website to increase web traffic.
