While some have been burned by over-investing in a limited online market, the majority of innovative internet-launched initiatives are reaping a great ROI. But to avoid painful expenditures and misdirection of online marketing, the business should keep in mind:
1. The Internet = NOT Magic. What doesn?t work, sell or attract offline, probably won?t work, sell or attract online.
2. Is it needed? Is the facility of service being offered online really needed?
a. How much time does it same the client?
b. How easy is it for the client to do? (If it takes more than 5 seconds for them to figure out the flow, dump the idea.)
c. How many current clients do you have that would benefit from this? Don?t expect to triple market-share just because of an online gadget.
3. Is there a way to Test the Market with your approach, product or online innovation without enormous upfront expenditure?
By using the three points above you?ll probably end up running into a number of brick walls, but you?ll do so a lot cheaper, smarter and happier than if you hadn?t and chances are you?ll find a pot or two of gold along the way and hopefully a sustainable and profitable model for the future.