5 Important Lessons for Becoming a Successful Digital Entrepreneur

Successful Digital Entrepreneur

As a digital marketing expert with over 10 years of field experience, I have worked on my fair share of website projects. As well as client contract agreements which paid me handsomely for doing what I do best. Early on in my career, I learned the importance of improvisation. Because as a certain Cox Internet Packages article put it back then, ‘theory can only teach you so much’. On the internet, longstanding trends can take seconds to unravel. And before you know it, you’re forced to hurriedly pick up the pieces of your former successes – and labor on.

Digital entrepreneurship is a game of wits and diligence.

So if you don’t naturally possess these attributes, you may have a hard time in faring well in this pursuit.

Some Lessons for Becoming a Success at it

To become a successful digital entrepreneur, you first need to have a good grasp of the basic ‘business formula’. Often very neatly summed up in business school textbooks, it goes something like this:

Find a market (product/service) niche that no one is currently catering to, and which you believe you’ll be good at – and build an active brand around it.

Think of it as a principled formula of sorts; which further goes on to dictate the ‘why’ of your business. Once you get this part out into concrete reality, you simply have to build on it.

On an everyday basis, though, you need to keep track of the following concerns:

  1. Stay True to the ‘Marketing/Sales’ Funnel
  2. Search for Free Promotion Opportunities
  3. Keep Product/Service Quality in Check
  4. Learn from Customer Feedback
  5. Learn from the Competition

I’ve discussed each of these points in detail below.

Stay True to the ‘Marketing/Sales Funnel’ Concept

The Marketing/Sales Funnel is a graphical representation of the typical consumer journey. From the initial brand awareness point to conversion (actual sale). For any decent company or marketing department worth its salt, it dictates how to design brand promotions.

To increase brand awareness, companies have to produce various types of ad content for the public. These include all kinds of electronic and traditional promotions. Such as the use of:

  • Billboards
  • Television Channels
  • Newspaper
  • Print Brochures
  • Search Engines
  • Social Media

By catering to every stage of the funnel, you can speed up the rate at which you make new customers.

Look Out for Free Promotion Options

These days, it is possible to carry out a lot of free promotions on the internet. Using such techniques as SEO (Search Engine Optimization) and Social Media Marketing. These digital approaches are often categorized under the ‘organic’ advertising heading. And when used correctly, they promise big savings on company advertising budgets in the long run.

SEO involves carrying out a range of ‘content tweaks’ to make brand websites visible in search engine results. Suppose you’re in the business of selling paperweights. Because of your product nature, you obviously have to face a lot of stiff competition in the market to make sales. And since a lot of people nowadays like to shop online, you’d want your website listing to rank high. Preferably in the first three search results for the ‘buy paperweights’ keyword. Or some other similar search phrase.

Higher rankings translate into higher sales. Which, of course, mean more profits.

Social Media Marketing is simpler to execute. It simply involves posting your brand ads in popular Facebook or Instagram groups/forums. Many of these, with large numbers of followers, are accessible for free. And you stand to make a great number of sales if you can manage to find groups with the right audience. People who make it clear that they want to buy the products that you may be selling.

Keep Product Quality in Check

To make customers, and attract new ones, you have to go big on product quality. In business, one of the absolute worst things that you can do is to compromise on raw material quality. Because these intentional failings always show up in the finished product. Something which leads to a great deal of consumer dissatisfaction.

Learn from Customer Feedback

Customer feedback is important because it gives you a real-world taste of what your consumers think. By narrowing-in on customer reviews, you can easily identify the areas where you need to improve. And perhaps even loosen up (a bit) on those fronts where you’re doing well.

Learn from the Competition

When you learn from your online competition, you get the chance to ‘mimic’ the routes that led to their success. This could be in the form of taking inspiration from the content or design of a rival company website. Or copying an effective marketing strategy that your competition may be cashing big on. In the world of business, everything (legit) goes. Just don’t get caught in any copyright violations. Because these, as one of my recent stints in selling the increased Optimum internet prices tariff revealed, can get nasty. Not too unexpectedly, I was forced to completely redesign my existing website copy; as a result. And if you’re not careful about the whole thing (in your own website endeavors), you can even risk your quarterly profits in the process.

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