Talking Money with Julie Stav
Leaping Into Cyberspace
SEPTEMBER 2004

Q. Dear Julie, I am a business owner and I have a website that displays basic contact information for my company. I would like to expand this site to attract new business and process orders. How can I accomplish this goal in the most effective way and with a limited amount of money?

A. Your question is one that just about every owner of a business, no matter what size, must answer in order to remain competitive in the global market we are facing today. It sounds as if you have been using your website as a fancy business card. Here is a checklist that will help you cover your bases as you consider taking the leap into cyberspace:

*Spend some time determining if you’re really ready to open an office in cyberspace. A website is a long-term commitment and you must have the resources to build, promote and maintain it. Are you willing to spend the time, money and effort to make sure it is a successful venture?

*Who is your target audience? It is apparent to me that in your specific case, your target audience is your customers. This may not be the case for every business. Think of whom you will be addressing on your site: clients, sponsors, suppliers, potential employees, loan officers? Identify your most important audience and focus your message to them. Don’t try to please everyone—you can’t! Once you know who they are, offer information that is of interest to them and that will keep them coming back, and offer a special service or benefit to those that register their names and e-mail addresses on your site. This exercise will allow you to begin building a database of prospects for possible future sales campaigns.

*Engage your target audience quickly with your home page. Display a sharp logo, graphic and/or other caption at the top that invites the reader to stay and conveys the core mission of your business. Provide quick and logical ways to move to sections of interest within the website using navigation icons, a side bar with a list of links, a map, etc.

*Consider your target audience’s equipment. Keep in mind that the most important element of a website is the message, not the aesthetics. You may have a very fancy display of images and animations that will take a very long time to load for someone with a slower system than yours. Get to your point quickly. Remember that most visitors will not be willing to spend wasted time on your site when they can just click on the “Back” button and find millions of alternatives. Form should always follow function on a website.

*Let the world know you’re there. This is the factor that will determine whether your website is worth the trouble and expense to develop and maintain. You may have the best aesthetically and well-thought-out web presence, but if no one knows you’re there, you have defeated the purpose for its existence. Your first step should be to make sure you are included in search engines. This is something you can accomplish free of charge in places such as www.google.com/addurl.html. You may also attract traffic to your site by offering to write a column in a local newspaper, magazine or trade publication where you will offer more information to those
visiting your website.

*Do the numbers. Let’s face it. The main reason you want to expand into cyberspace is to increase your bottom line. So, take a piece of paper and write down the cost of developing your website, maintaining it with fresh information and promoting it. Now, determine the amount in sales you must produce to break even. Research has shown that approximately 2 percent of those who visit retail sites actually end up as customers. Use this number to calculate how many visitors you must attract in order to generate a profit from your site.

*Don’t be too proud to ask for help. You don’t have to go it alone. Benefit from the experience of those professionals who have dealt successfully with the challenges you are facing for the first time. You can save yourself very expensive mistakes by teaming up with the right partner.

Publishing a successful and profitable website is well within your reach if you concentrate on the facts that really matter: customer satisfaction and a healthy bottom line. Don’t get caught up in the dazzling possibilities. Keep it simple and manageable. I am happy to share with you the company that made this process simple, affordable and fun for me. You may visit their website at www.Teravisionmedia.com. Good luck!

Money matters! E-mail Julie Stav with your questions on business and finance at julie@hisp.com

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