Diversify Income From Multiple Online Ecommerce Websites
Many new internet business owners make the mistake of putting all their eggs in one basket
. In other words, they only need a single source of income. Usually, that comes from a single website.The danger of doing this is that if the website goes down, the entire business goes under. The business owner may even need to go back to find a job. To prevent this from happening, it's always wiser to diversify your income sources. Do this by setting multiple e-commerce sites, with each site pulling in a steady stream of income. If one site doesn't do well, the business can still depend on the other websites. Here are some tips on how to setup multiple e-commerce sites.
Tip 1: Identify market segments. You can, of course, set up sites in multiple niches that need nothing to do with one other if you want to. But then, there is no synergy. You can't do things like cross selling or up selling if all your sites cater to out of the ordinary markets.
To overcome this trouble, start by identifying market segments. These segments all belong to the same industry. But they are big enough to operate on their own. For scenario, let's say you are selling bicycles. You can need a website that sells road bikes, other that sells mountain bikes, and yet other that sells accessories and so on. get the idea?
If you happen to sell a bicycle on one website, you can always follow up with an email a day later and invite the user to browse your apparels and so on. That will surely bring in more revenue.
Question - why can't you sell everything on a single website? You can do that. But you undertake the risk of losing everything if something bad is to happen to that one site. For scenario, it is not uncommon for a website to get banned by the google search engines. If you only own a single site, you lose all your google search engine traffic. If you own multiple sites, perhaps some of your other sites may still remain in the good graces of the google search engines. This brings us to the next important tip.
Tip 2: Diversify your traffic sources. - On the Internet, traffic is everything. Without targeted traffic, your site is as good as dead. While diversifying income with multiple sites, you should also ensure that you are getting targeted traffic from multiple sources. That means you never depend on a single source of traffic.
Market your websites via numerous methods. Use both offline and internet methods. For instance, never just depend on google search engine traffic. Instead, invest time and hard cash in PPC advertising, banner advertising, text links, etc. For offline advertising, you can try classified ads, magazine ads, flyers, and so on.
All these activities will help strengthen the foundation of your Internet business.
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