(lively music) Entrepreneurs have a tendency to want to get going right away and implement their web model. It’s important for them
to take advantage of the huge amount of information
that’s available online, everything about what their
prospects are looking for, to who their competitors are, what their competitors
are doing right or wrong. So, take that extra bit of time. Whatever it is, a week, couple of weeks, to really mine the internet. Everything that you can conceive
or that you want to know is probably available out there somewhere. (lively music) The online world is
incredibly competitive, incredibly noisy, and the only way that an entrepreneurial
organisation starting out can really break through that noise is to very finely position themselves, understand their target market
better than anybody else, understand their particular
value added to that market better than anybody else, and then craft an online strategy around that focus. Trying to be everything
to everyone doesn’t work. At the end of the day, you’re really not communicating well
to anyone, so you have to really understand your
target, your focus audience, and that’s almost a guaranteed way to break through the online noise. (lively music) Every company needs to
have niched-used analytics to make good business decisions, even the largest companies, the
leaders in the online space, whether it’s Amazon or Google. You can’t walk into a meeting and say, “I think we should do this,
or I think we should do that”. They’ll turn around and they’ll
say, “Show me the data.” The same thing applies to a small company. It’s not about your personal preferences, it’s about what the data
tells you your prospects on your website are doing
and what they’re not doing, what’s working and what’s not. So, every decision forward, in order to optimise your business model, should be based on analytics. (lively music) Often, when companies
don’t get the kind of business results out of their e-business, their online business
that they’re looking for, the tendency is to want to drive more traffic into that website. So, in other words, you know, I’m getting ten conversions a month. That’s not enough, so
let’s do some advertising, or let’s have an e-mail campaign to drive more traffic into that funnel. It’s the wrong approach. First and foremost here, your
engine, your online engine, has to be working relatively well. Your conversion rates have to be close to what averages should be,
or are, in the industry. Once you have that engine running finely, then, at that point, you
say now it makes sense for me to pay for advertising or to put the resources in the campaign because I know the engine is running and will be converting at a decent rate. (lively music)