By Erica Silva
As an entrepreneur, it doesn’t matter which industry you are in, or the kind of business model you follow – the goal of every company remains the same – growth. Businesses are all about progress and making more revenue.
The business forecast is indicating that e-commerce is exploding, making it the right time for start-ups to firmly establish their online stores. Numerous tactics can be used to nurture a new online business. If you’re only getting started with your e-services, make sure all the elements for your success are in place.
Here is a list of eight ideas to help you grow your online business.
1. Target the Right Audience
E-business largely depends on accessible, reputable online presence. Companies must make themselves available to the audience that is more likely to need their products or services. It is important to identify and base your marketing strategies on the demographic characteristics of the buyers who will benefit most from your product or services.
2. Understand the Power of Email
According to a study conducted by McKinsey & Company, email is 40 times better and more effective at acquiring customers than two of the most popular social media domains combined- namely Facebook and Twitter. The networking giants are a great source of communication for businesses but when it comes to lasting partnerships, not only email is a more traditional and familiar communication channel for many people, but it is also a way to build up your reputation as a relevant marketer.
Inbox vs Newsfeed
The big difference between an email and a Facebook post is that subscribers have to interact with your message if it lands in their inbox. That is a big if – your email manages to jump over several deliverability hoops like:
- The strength of your sender and IP reputation.
- Whether or not you’re SPAM complaint.
- The cleanliness of your contact list.
No matter how hard you scroll, your message will still be waiting even in the most cluttered inbox. With social media posts, it’s a little complex. You’re hoping for the perfectly optimized window of time to maximize engagement. However, just like email marketing, the email itself has a longer shelf life than any instantaneous tweet or timeline update.
Email is a committed workhorse that makes your business success its focus. By using popular, email service providers such as Mailchimp, you can automate your email marketing system. From automated RSS-to-Email campaigns to pushing trigger-based messages to your website visitors, you can use email automation for educating customers, lead nurturing and a lot more to foster growth.
3. Create Credible and Visible Content
Internet-based businesses are judged for their credibility and online visibility more than just customer engagement. Search engines also play a major role in bestowing product satisfactoriness.
Due to recent security vulnerabilities, secure web hosting has become an essential component of credibility and speedy website load times are essential for delivering a positive user experience and maximizing sales.
With an increase in load time, Amazon reported a 1 percent revenue increase for every 100 milliseconds. Google has further stated that fast load speeds are indeed a factor when it comes to high SEO rankings. In response, VPS hosting is becoming popular amongst businesses looking for maximized site speed, as a break from traditional web hosting services.
4. Try Podcasting
With the recent development in online marketing prospects, podcasting might be getting crowded but there still remains a ton of opportunity to stand out and reach out to your audience. You don’t necessarily have to be some of kind of entertainer or radio personality to produce a successful podcast.
The easiest and most successful way, in fact, is to interview other influencers of your industry. Interview based podcasts are reviewed and shared more frequently within networks, but also need less work to produce on a whole.
5. Use Images That Boost Desirability
Images are powerful sales tools. Online pictorial presentations of your products can make them seem more tangible and ‘real’ to consumers. Instead of revealing too early what the product is, you must first highlight its benefits and value.
Place images to the top or on the order page and test the response by using no images at all. By carefully analyzing the result of the test, you will learn exactly where to place your product pictures for maximum impact.
6. Invest in Mobile/Tech Capabilities
Unlike the online revolution of the 90’s that grew rapidly in the United States, the mobile revolution is growing fast in both developed and emerging countries. Mobile platforms such as Instagram and Flipboard, in fact, have witnessed their user base increase rapidly in countries like China, Turkey and Brazil, amongst others.
An interesting phenomenon in developing countries is that many individuals are new to the online experience through mobile devices. This new potential reach could easily bring in market expansion opportunities for your company.
Based on the recent shift towards mobile, internet giants such as Google have begun reconsidering their marketing strategies. It announced to change the ranking criteria by awarding sites with the strongest, most effective mobile presence. The crux of the matter is when Google says you need to alter your online presence, you must follow suit; otherwise you stand at a threshold of losing ground for digital existence.
7. Offer Internet-Only Merchandise for Sale
Although it is possible for you to offer product continuity across multiple sales channels, it is better to maintain offers via the internet only. With e-commerce as your sole distribution channel, your online business will build itself up as an exclusive brand with the possibility of maintaining greater control over margins.
8. Focus on Your Visitors
The most successful sales copy focuses solely on consumer needs. By neglecting this golden rule, many businesses fail to create healthy customer relationships and thus miss out on opportunities for increased revenue and growth.
Have a close look at your online sales copy. If it is filled with references to ‘I’, ‘me’ and ‘we’, then replace it with ‘you’ and ‘your’ to gain consumer trust by making them feel important and aptly serviced.
Online or not, the main goal of a business is consistent growth. Through carefully strategized plans, quality marketing and a healthy combination of the steps outlined in this article, your business will start growing sooner than you think.