Starting an online business and need help with strategy? You found your calling!
When starting off, it can be intimidating to setup your website, and start trying to generate revenue. Be careful as it is easier to start an online business than a traditional store front business, but it’s harder to become profitable because of older competition within your industry.
With that said, be ready to dig through the noise and present your brand in a very unique way as to gain traction.
To get started, I'll highly recommend writing a business strategy before you get in between the ropes to rumble. This will save you money, time and energy in the long run.
Your business strategy will also help you make smarter business decisions that will determine your growth and future business.
Make sure to address these components in your business plan through effective market research and analysis of your niche market before engaging in development.
1. What value are you offering
How much should you charge for your services or products . Check for similar products or services as yours, see their current pricing. Figure out why there is a demand for your business; then come up with answers, so you are well prepared for success. make sure to have this as a top priority within your business planning and strategy.
2. What's the market made of now
How will you offer your products and services in the industry? An estimate of the market as a whole? who are your competitors? and where do they offer their service?
These question should be answered, in order to have a clear view of what the market wants or how you can change the perception of set market.
3. How is your business structured?
How much are you willing to personally invest? How long will it take to reach profitability? How do you plan on growing your business?
4. Choose a content management system platform
Build a simple intuitive online and mobile friendly web presence. There are many CMS website platforms, such as Sqaurespace, WordPress and many others. Use these platforms to get started, as you can add code and customize them over time to meet your needs.
5. Develop a marketing strategy plan
Develop a marketing strategy on how to get your online business found. To get you there, here are a few things to keep in mind:
Design and gain your web presence, so potential customers can find you and warm up to your brand:
- Start by branding your business - Name, logo, catch phrase etc.
- Build irresistible content for marketing. This is important for SEO and generating relevant less expensive traffic to your site.
- Be consistently active on social media, blogs, and other forms of content within your industry.
- Generate video content to help with engagement and time spent on site, which helps with SEO.
- Once content has been created, the next important step is figuring out how to distribute this content. Using social media, Bloggers to create relationships with and exchange valuable content for sharing, and media outlets that will accept your content and distribute to readers in your industry.
- Converting your web traffic. This will come in handy as you will have to analyze your traffic to see where your visitors go and how you can change these visits to sales. See this article from inkthemes.
- Use analytics tools like Google Analytics. Evaluate your marketing efforts and adjust as you go along.
Planning is key to success but don't get to comfortable as you will need to refine your marketing strategy periodically for improvements.
How should entrepreneurs approach starting a business?