The online world is constantly evolving, as more and more online entrepreneurs recognise the potential that comes hand in hand with gaining a prominent online presence.
Allowing businesses, of all shapes and sizes, to connect and engage with their target market, it’s unsurprising that there are literally thousands of ways that online businesses can maximise value and exposure.
However, if you don’t know what you are looking for, it can sometimes be difficult to identify growth opportunities when viewing online businesses for sale. We’ve created a guide outlining effective strategies that can be employed to help you to spot opportunities to grow an online business.
Conduct an SEO Audit
Before investing in a website, you should always carry out an on-site SEO audit, as this will instantly help you to distinguish potential growth opportunities from the offset.
This is because SEO is crucial when it comes to optimising exposure, driving targeted traffic to your site, as well as increasing your visibility on Google by ranking highly.
And there are lots of SEO components that you should look out for when determining the potential of the website. These include the following…
Are All of the Title Tags on the Website Optimised?
Title tags are used on search engine result pages to entice visitors to click through to the site. With this in mind, they should be short (approx. 50-60 characters), concise and most importantly relevant to the product or service you are selling. You should also check that the primary keyword, which is relevant to your site, is also included.
Internal Link Structure
An Internal Link Structure helps to optimise on-site navigation, engagement and responsiveness!
Has the Website You Are Interested in Been Optimised for Speed?
This is definitely worth bearing in mind when it comes to spotting potential opportunities to grow a successful business online. This is because a website that has been optimised for speed will instantly help to improve conversion rates. After all, it’s often the case that if a site is too slow, difficult to navigate or un-responsive, users are likely to lose interest and go elsewhere.
Meta Titles/ Descriptions
When it comes to optimising SEO opportunities, Meta Titles and Descriptions are extremely important. With a clear and precise structure, they impact clicks and improve engagement opportunities with your target audience.
When it comes to growing a successful online business from scratch, a mailing list provides an ideal opportunity to connect with your target market and find sustainable traffic.
In fact, it’s often the case that many existing online businesses that are currently on sale already have huge mailing lists that contain thousands of customers. Helping them to raise awareness of their brand, new products and services, as well as any news and information that is relevant to their particular market place, a mailing list is a powerful and effective way to expand your reach. But that’s not all… they can also be used to entice sales by offering special discounts or offers.
Ultimately, mailing lists help to drive traffic and their power should certainly not be underestimated or ignored. Recognised as an excellent communication tool within the digital world, they will not only help you to grow your business, but they will also help to add value.
If the website you are interested in has already implemented an effective email marketing strategy, it’s certainly worthwhile taking a look at the open and click-through rates, as this will help you to evaluate how successful this type of marketing tool is.
With many of us permanently attached to our smartphones, in today’s technology-obsessed society, your website must be also mobile-friendly as this can have a huge impact on conversion and traffic.
So, when it comes to evaluating whether or not you should purchase a particular site, you should review the percentage of mobile traffic and how the website looks when used with a smartphone device.
If the website is not mobile optimised, then it is certainly worthwhile adjusting its format to maximise profit, traffic and exposure.
Have You Thought About Increasing Signals?
Presenting countless opportunities when it comes to converting users, more businesses than ever before rely on trust signals to help them successfully convert their target market.
These are often in the form of testimonials, product reviews, shopping security and trials, which are used to help to reassure buyers and encourage them to engage with a particular product or service.
Adding trust signals to your website will also help to create a positive first impression when your target market visit your site. This is because adding a trust signal or even an about us mind can have a massive impact on consumer buying habits, trust and assurance.
Maximising the Potential of Your Business Over Time
There are endless opportunities that come hand in hand with buying and growing an online business, especially when it comes to expanding your reach, connecting and engaging with new, existing and potential audiences and even growing your own online portfolio of businesses.
And the key to spotting potential growth opportunities is to understand your market and the skills you need to make your business a success.
Many online entrepreneurs who frequently grow and sell online businesses often explore other avenues by reaching out to international markets, developing new software features, adding new functions to their site and even launching new apps.
These strategies constantly open the door to new opportunities for growth, helping to increase value, reach and conversion. But that’s not all… many online businesses also rely on 3rd party relationships as a way to increase revenue and lead generation. Of course, the methods and strategies you should employ to grow your online business will depend on the type of business you are running.
So, if you’re thinking about purchasing a website from a reputable buyer, make sure you take into consideration opportunities for growth before purchasing the website.