Business forecast graph shows that ecommerce type of business is now exploding. This simply means that now is the ideal time for aspiring entrepreneurs to start their stores online.
There are many tactics that you can read on how to grow your newly established business offline and online.
Well, if you are just heated up to do business. Again, now is the best time for you to do it in order increase your success rate for your business plan.
As new business owner, you have many goals especially when things are just hitting up. To tell you frankly, there is no overnight success for any business anywhere in the globe whether it is offline or online.
It is not like food wherein you add your special recipe and get instant result afterwards.
But don’t be sad, there are available ways that can be applied for your starting business in order for it to increase its growth rate and even achieved success in the future.
I have been attending entrepreneurial seminars, and most speakers’ keeps telling things all over again. So it’s no secret at all on how to achieve success in growing your business.
Thru the years, we keep asking successful business leaders for them so share tips who they manage to accelerate business growth, and of course we haven’t fail and somewhat acquired information’s from them based from their actual business experiences.
So if your plan is to increase your success rate why not spare some of your precious time reading this informative content.
1. Study your online target audience
The success of every ecommerce business largely depends on three things:
In order for a business to be recognized, they should make it available to the market and become noticed.
We strongly suggest that this will be set as “top priority”, and next is to identify potential consumer that will benefit your product and service by just looking at their demographic characteristics data.
After getting the needed information for your target audience, the best thing to do is to set or base your designed marketing strategies on it.
This one is critical and somewhat need careful research, the success of your business is connected on how you deal or offer something with your target audience and if you do it wrong your business will not even succeed.
When you look for effective way for you to increase visibility of your online business, most authors in books and online experts will say “Content is King”. This statement is indeed true, nothing beats quality content, asked online “gurus” that you know and I am sure they will still answer the same.
With contents created at high-quality, this encourages your visitors or readers to return all over again and even share it to their colleague. Sounds good right? But this is the most critical thing that nearly every online entrepreneurs missed to execute.
Your content should reveal your brand and include useful data that will trigger reader to continue reading.
Most online website does it by giving away guides and useful tips to their readers, and in the long run will integrate product offering. Some also do it in a form of digital interaction with their consumers.
This method is simple and can be done by just asking questions, share tips, and give answers posted in the comment section. Readers’ interaction can also be done thru contest, surveys and many more, just find time to search for the perfect one for your online business.
To tell you,
businesses live and die due to their credibility and visibility online, and they are judge not just consumers.
Your online business is also judge by different search engines.
Do you know what search engines are?
One of the most popular one is “Google Search”, they play major role in terms of visibility and credibility of every online business. As piece of advice in creating your online website for your business, make it user friendly that will load extra-fast as possible.
Search engines love websites that load fast.
Since in the past, this algorithm has not been changed, though other factors have been improved. Optimize it in order to increase your visibility and conversion rate.
According to Amazon’s study, for every 100 milliseconds improvement on your website load time increases 1 percent of your revenue.
In addition, Google love websites that loads at extra speed and indeed one of the factors for them to rank a certain website, in other hand, this the reason why hosting site via VPS becoming popular for business who aims to maximize their website speed not the traditional shared hosting.
3. Personalize your content
Almost anyone can spot a unique website that has superb user experience. This is the reason why audience should expect this type of website features.
So as entrepreneur that operates online, take advantage of the opportunities offered by new technology for you to create shopping window that will base on users preference.
I have seen lots of successful online business that applies this strategy. Even giants website adopted this system, websites like Apple, Facebook, Google, etc. they have an application coded in the system that will scan users online preferences so they can display the right advertisement based from those preferences of the audience.
If you cannot do it on your current status, you can apply for service with the same solution designed for online business, the cost may vary depends of the type of features it offers.
4. Optimize your Website becoming mobile friendly
The use of mobile has been increasing every minute and this is fact. This means that most people now are using mobile devices on their daily routine. This can be on regular activities, jobs etc. Your target is all of them.
You need go with the flow and invest in developing your online business that has mobile capabilities. So this means that your site on the first hand should be mobile friendly and responsive.
You can do this by either using an app, one click tool, customer maps and location and real time website notifications that will notify you what is happening with your online business.
5. Integrate your Sales Channels
Customer experience plays a vital role in the success of every business whether it is offline or online, so enables it.
Let your potential customers experience variety of brands across channel and use the latest shopping method that you can give.
Most online business did this by giving away promotion, product testing and free services. Of course this will require customer to fill in some data on certain forms for the system to give the right offers.
6. Consider putting subscription
Many websites have been doing this and you should also have one, subscription can be done in various forms.
Example, replacement of a model, the company will send information to customers on about the latest model that will be released to all members that are listed on the subscription data.
There are many ways a subscription can be used. This can include delivery schedules of the product ordered, new items available, and many more. This is the discretion of every company for them to decide the type of set up that will work best for them to implement their marketing strategies.
Subscription has a big impact for every ecommerce site! This will notify potential clients on the things that they are looking or whatever it may be that has their interest.
Based from study, those who are listed on the subscription list have greater chances of getting sales.
In other words, those who are listed on your subscription list converts more.
7. Remember the Logistics
Scalability plays an essential role in leveling up a business. In order to accommodate the leveling up of your business, third party businesses should be partnered in order for it to manage complex and large business transactions during the operation.
Operating cost will depend on the type of transaction done, the size of your shipment and distance where the product needs to be transported or even the difficulty of completing the certain business transaction.
Partnering with third-party logistics is the smartest move for business owners for them to minimize operating expenses of its overall operation.
The third party group will handle the transaction process, specifically on the delivery of the order products on your online business. The downside for this is minimal only, especially in the case of mishandling of the delivery that might cause damage.
8. No middlemen
Thanks to the experts who invented internet, your new business can now reach potential consumers easily and quickly.
In fact, manufactures are eager to work with small businesses than the big ones, for the reason that these small businesses brings new brand directly to the market. Because of limited shelf space with small businesses products can be converted in to sales.
With middleman, they can decrease potential income that stakeholders supposed to earn. Well there are downsides and upsides with this, but it is way better to direct with your consumers without any other party doing things that might be not good for your business.
9. Sell merchandise that is Internet-only
Though it is good to maintain continuity of your sales across channels, offer variety of your products via internet, by doing this, it helps build your exclusive brand and your ecommerce site as distribution channel.
So when you offer specific product on the market, you have higher possibility of controlling the margins.
10. Curate proprietary product selection
A technique dedicated to “curating”, you offer product proprietary. Meaning you offer narrow of exclusive product at the specific segment.
This strategy gives potential client to purchase on your presented product this is due to demand and the difficulty of locating the selection elsewhere in the internet.
This idea requires careful demographic strategic planning, and the combination of marketing campaign and the interaction of the client should be considered in order increase the conversion rate.
There are many aspects for your business to grow whether it is offline or online. Concepts on growing a certain business have become common.
And those business entrepreneurs who successfully achieved success will say that you have to deal every component needed in order to make your business successfully grow.
One successful business owner told us, “get the right people for your business”. He is indeed correct.
Business foundation is important and plays essential role for the success of every starting and even existing business. Make it sure that you have the best staff for you to achieved your growth goal. Failing to do may lead to trouble as you go along with your operation.
“For your business to grow, you need to choose the right players”, so get people who are not afraid of rolling their sleeves. Words like “that is not my job” has no place for them.
Look for people who are dedicated to your business mission.
Starting a business is not that easy as you think and this is reality, so when you run your online business, do some investment in your visibility in the market. There are many advertising vehicles that you can use today, just find time to look it for you. You have the option to do it.
We suggest using PPC or Pay-per-click system, but setting it up with the right preference so your resources will not put into waste.
Before we forgot, in targeting potential clients, focus on the customer’s current preferences. You can do some loyalty program or marketing techniques that will link to their previous purchase for them to do repeat business on your store.
Most company does it by giving discount voucher to their customer when they do their next purchase, indeed the idea is effective.
Businesses in the past highlight business in becoming a franchise as the next level, and keeping away from banks. People emphasize the existence of this large market and do business without the help of those loan sharks.
Business owner keeps away from banks and this happen till now, due to interest imposed in which this affects investment returns and growth plans added with higher risk of losing the business in case of financial difficulties on the first months of operation.
Naturally, risks is inevitable for every business who just starting out.
Online business has its potential risk even if just started out, this is normal since it is impossible for you to control everything. But there are available ways for you to minimize those potential risks and let your business grow.
We suggest, talk to you insurance provider and get the right protection that suits your need, no need to elaborate but this is self explanatory.
In order to prevent future disturbance, you need to manage the growth of the business. Example stolen data on your system can be done internal or external, these has factors also. It can be due to mishandling of the information or inside job.
Leaking your product design can even destroy everything that would result to decrease of customer confidence.
So prepare to seek for the right insurance that will help you protect in terms of situation stated.
Getting insurance that will cover lawsuits is also a plus in short it is way advantageous to get one that has this feature.
So when other business copies your product data, you can file lawsuit and let your insurance company do the job.
As your business online grow, you may need to upgrade things up, this is normal. You need to upgrade and increase your storage space for new members and even expanding the connection of your product coverage.
As your online business grow and expand, make sure to adopt on the possible changes. It is a plus for you to immediately adopt and quickly switch direction in response to the market shift.
Don’t be left behind in the battle and this will help your business grow quickly.
Allowing your business to adopt recent shift and perform action is good, you have the chance to test possible approaches for your business that will work best. It also allows you to fall short and pick yourself up and then keep going.
Look for new trends and adopt it on your business, look for opportunity to connect your business on the latest movement in the market.
Lastly, accept failures and learn from it. Learn from your mistakes and grow from it, anyone does it.
So next time, think again so you will never experience it. Now that you know the things to do for your new online business to grow, now is the time for you to put it into action.
We know what you are thinking, and we know that you can do it!
Just do it slowly and later on you will realize that you have surprisingly grow your business.
Table of Contents
- 1 1. Study your online target audience
- 2 2. Create extra ordinary content and share
- 3 3. Personalize your content
- 4 4. Optimize your Website becoming mobile friendly
- 5 5. Integrate your Sales Channels
- 6 6. Consider putting subscription
- 7 7. Remember the Logistics
- 8 8. No middlemen
- 9 9. Sell merchandise that is Internet-only
- 10 10. Curate proprietary product selection
- 11 Bonus tips