Author: Content Team Blog Posting
Sunday 18th April 2021 10:25 PM
7 + 1 ways to kickstart your business online, PART 1
7 + 1 ways to kickstart your business online, PART 1
You’ve thought of the great idea. You’ve spotted a golden opportunity that only you can fix with your product or service. You can see yourself selling this to thousands, no, millions, across the globe, through the enigma that is online e-commerce shopping.
But how does one start doing business online?
In this blog, I’ll go through some of the ways one can begin to flourish as an online entrepreneur, and succeed in starting an online business.
Doing your homework
A business plan is achieved when an entrepreneur (such as yourself!) finds a niche to fulfill, and a business proposition. By knowing the target market of the product or service one is seeking to get into, it makes it much easier to dip one’s toes into the industry. Many businessowners can confidently claim that their ignorance in understanding their audience demographic has led to some embarrassing oversights, costing them their revenue and reputation.
Besides that, knowing the big players in the market can help one to come up with suitable content strategies and promotions to compete with rivals. How can you come up with products or services your competitors are not offering? How can you entice customers that are on the fence, or are leaning towards companies that have had their feet in the industry for longer? All good questions that should be taken into consideration before starting any business.
Besides that, coming up with a unique name is important, too. The name of one’s brand sets themselves up for success or failure in the long run, and some not-so-well thought out names have led to some unfortunate, awful trademarks. A good rule of thumb for a brand name is to see that it is easy to read, easy to understand, and represents the essence of your business.
The power of a simple email list
Customer retention is one of the greatest ways for businesses to succeed. With a locked in source of revenue, potential for legendary word-of-mouth advertising, and a foundation for customer loyalty to the brand, having a few dedicated consumers is just as good as having many consumers that swap and switch out every few months. This is why some business consultants say that it costs “between 6 to 7 times more to get a new customer vs. keeping the customers you already have.”
Have an email listing of customers that have signed up on your website and use the opportunity to send out new blog posts, business announcements, and new listed products you think they might enjoy. The emails that come from signees indicate an interest to your brand, which a shrewd entrepreneur can use to their advantage to get messages to customers and keep them coming back.
Furthermore, email allows for messages to be passed between the customer and you, so any grievances found are hard to ignore. Having a speedy and effective customer service starts with communication between buyer and seller, and a quick resolution to a frustrating issue can lead to trust progressing in leaps and bounds. In a binary world, which seller would you prefer: one with cheap products liable to break with no customer service, or one with products that could break, but with a seller that keeps personal contact with customers and ensures their products are replaced quickly and inexpensively?
In a world of transactions, trust is king. Keeping in touch with your customers is a surefire way to boost their trust in your brand, and boost your sales!
Social media is an inescapable part of our daily lives. As explained from other blogs, social media also has a great potential to increase viewership to get one’s name out there, leading to more views and clicks on one’s site. Instagram, Facebook, TikTok, and YouTube are notorious for having tailored advertisements play before some of their sites’ content loads, which can lead to millions of eyes on your product or service.
However, advertising does cost quite a hefty sum. For example, Google’s Adsense charges advertisers per view, ranging only a few cents, but this can quickly add up (Google’s Adsense does allow for a budget cap, so the advertisements don’t take out too much money from your account). For a starting company with a minimal advertising budget, this may not do.
That’s where social media influencers come in! With a following of thousands, becoming a social media influencer can become a full-time job. Simply reach out to an influencer who posts content that complement your brand, and marketing deals can be struck, such as putting up a post of your content, or setting a “story” to be broadcasted and automatically deleted after 24 hours.
Influencers with followings of millions can charge a lot for their viewer’s eyes, but budding social media influencers that are just starting out are more than willing to negotiate and come to agreeable terms. Indie clothing brands have been noted to sponsor influencers with their trendy clothes, in exchange for them to wear them in their social media content.
A pretty good deal, if you ask me!
Set up a website
Having a unique name also comes with it’s perks. Besides being brandable and memorable, a unique name is more likely to have their domain available when creating a website.
Almost 1.92 billion customers do their shopping online. Yet, 50% of businesses don’t own a single website. Where will prospective customers go to contact you? To see your products or services? To know more about what you can offer them, before they turn their eyes to another more prominent brand?
One can own a website through website hosters or website builders, which run their own sets of subscription packages and features. Website builders are becoming more preferred among the young, tech-savvy entrepreneur generation, due to its simplicity to be set up, and the flexibility for it to be edited on-the-go. Restaurants that need quick changes to their menu, or a blogger that has to fix a disastrous typo can both make edits in mere minutes. These require one to own their own domain, which can be bought along with the subscription packages for website hosters and builders.
A good rule of thumb for a website is that it must be user friendly, updated well, and fast. Nothing turns off customers more than a landing page that takes hours to load.
More facts will follow in the next blog post!
Meanwhile, why not have a website that’s quick, easy to set up, and reliable against all odds? Make one with Tronserve today.