This kind of business is highly competitive and does need a lot of groundwork and informed decision making.
Photo credit: Picha Stock
We have recently witnessed an increase in the number of individuals who have found ingenious ways to supplement their incomes in the wake of the COVID-19 pandemic. This article outlines important tips for the next wave of innovators who have stepped up.
Running a successful online business entails creatively and strategically sharing information about the services or product you offer across. The e-commerce space has grown and continues to because of the increase of use of internet and smart phones by consumers. Statistics estimate that by the year 2040, 95% of purchases will be through e-commerce. This kind of business is highly competitive and does need a lot of groundwork and informed decision making. Here are tips to get you started:
1. Understand the market
Look for a problem in a certain field and finding a solution to fill that gap. You can engage in forums and ask people what problems they are trying to solve. Understand the market you are getting into and how you plan to stand out from your competitors.
2. Website and Social Media
Establishing an online presence will be the first thing you need to do as a company. The site depends on the goal or purpose you want to achieve. The site’s design needs to be user-friendly with a good search function. Be sure to have a personified domain name that helps customers identify you on the internet. It is advisable that your domain name be short, catchy and clear on what your business represents. For example, eatfit.org for a healthy food eatery.
3. Marketing strategy
Creating an online marketing strategy generates high traffic to your site. You can use channels like social media, paid advertising and search engine optimization (SEO). Pay per click (PPC) is easiest to gain more traffic to your site. The PPC ads allow you to discover your best, highest converting keywords for prices and selling approaches.
4. Expert reputation
The internet is used as a tool to source for information. It comes as no surprise that most people search online for reviews and recommendations before making a purchase. To position yourself as an expert, create content that offers expert opinion to be shared on social media. Other sites that posts your content will link back to yours which will bring in a wider variety of your target audience.
5. Increase income
Closing that first sale is can be challenging but also inspiring. Following up with the customers and offering good after-sale service will keep them coming back. To get them buying again, use back-end selling and upselling by offering products that complement their original purchase or sending coupons they can redeem on their next visit.
