Every new business needs a strong business roadmap to ensure they get off to the right start. With full regard to a saying, “Failing to plan is planning to fail,” setting up your business online relies heavily on the weight of this statement. You don’t want to waste any capital paying off unnecessary investments, so seeking insights on how to begin is imperative to ensure a smooth start.
Whether you are starting a service based business, such as consultancy or education, or you have a physical product to sell such as cuban cigars; Here is a proven sequence of steps that thousands of people have followed when they started their online businesses, and are now thriving.
- Identifying a need and filling it.
By now it’s likely that you have a business idea that you are energized about and want to nurture. At this point, you should be assessing how broad the interest will be in your idea, and what percentage of society needs this problem solved by your product idea. GIven the experiences the whole world has faced in 2020, it is now clearer than ever what is essential in life and what is not. You can use that as a guide to figure out if what you are intending to create is essential to the majority’s need. For example if your idea is to create personalized pajamas, the percentage of society interested in pajamas is large, but then you need to drill down to understand the percentage that are interested in personalised products. While some say gathering momentum from the idea may not be enough, gathering strategies by observing your prospect market is a much clearer way of establishing a clear product need. As every existing business and brand is tweaking their business model to include everything that they’ve learned during the pandemic, so too you will need to build something that is pandemic resilient too.
- Know how to write content or copy that sells.
It is imperative for every business nowadays to establish a strong online presence. Becoming globally available and accessible demands an increase in productivity but your copy should be enticing enough to make a sale in the first place. And as we talk about a copy, consider this an umbrella term for your advertisements, websites, taglines, and every other affiliation it’s tied up with. It should have catchy, yet easy to find and understand taglines, vision, or name. Is it capable of generating organic followers? Can it stand independent of other brands? Make sure it’s an attention-getter because, at this point, it’s not just competition that you have to deal with but also, the rising technology that the other brands armour themselves with. If you are unclear how to identify your unique selling points and articulate them in words then strategy consulting could help you. Do not forget that the secret weapon to every marketing strategy is copywriting that sells. With changing trends paving the way to a new purchasing curve, having background knowledge of the statistics behind every visit, clicks, and purchases could be an advantage. It tells you whether your platform is user-friendly enough and provides visitors with clear ‘calls to action’. For example, if NIKE’s tagline was, “Just do it”, its platform should not take more than 5 clicks for a prospective buyer to check out and pay. Otherwise, the person might just not do it.
- Establish a reputation.
Once your business is up and running, it doesn’t just end there. Building a successful new business is a continuous process. The whole process your customers go on is a journey with your brand. From taking in an order, processing it, providing the purchase and good customers service, and obtaining feedback. Good testimonials are crucial as this is the opportunity where you could establish a good reputation. Customer feedback is also where you can be pushed to your limits. Customer feedback can also lead you astray, so remain focused and utilize the power of reactionary business. Stay resilient and always be vigilant to trends and new business strategies.
As you establish an expert reputation proven by a community utilizing, hashtagging, recommending, and overall, bragging about your brand, make sure you anticipate order capacity. Stay ahead of the trend and your customers needs. For example if they originally purchased pajamas from you, can you extend your offering to a silk sleepmask or pillowcase to further service their needs? Work extra hard in satisfying customers because when you get good feedback you can use this as content. User-generated content is an investment nowadays, and can provide a huge cut in advertising costs when you have this happening for your brand. Through user-generated content, you get free advertising. So, make sure you don’t only deliver, but you are driven to exceed their expectations. Ensure them of the worth of the investment they’re making, from your packaging to the delivery of your actual product or service – make it exceptional.
- Use data to your advantage.
Taking advantage of what technology could do for you. Data provides you with important information predicting your customers’ every move, and this can be favourable to your business. Increasing your incoming through back-end sales and upselling may be the smartest strategy a business owner could ever include in his or her business model. It reflects your perseverance and your utmost potential. In previous decades business was done manually, new products were offered to the market in a physical store or through door-to-door sales. These days many people have moved to online shopping, buying anything from technology products, to clothing and presents, even purchasing cigars online. Through this digital purchasing transformation, the information available about online behaviour serves those who sell online, and there are ways you can use data to target your consumers, understanding their actual preferences based on their purchasing behaviour. It is much better, faster, and safer, rather than selling out of whim!
By going through these steps, even if you’re a newbie to online businesses, or already a well-accomplished online entrepreneur, you can benefit from this learning process in setting up your business online.