The 2020 crisis has been, among many things, a great catalyst. It deepened and accelerated many changes and one of the most notable was the strengthening and widespread increase of online sales.
According to the United Nations Conference on Trade and Development(UNCTAD), in 2020 the consumption per capita fell but, in contrast, online business and ecommerce increased by 6 to 10 percentage points for a wide range of commercial and service activities.
"The 2020 crisis pushed us into a more digital world, causing changes in consumer behaviors and it is almost certain that these consumer behaviors will prevail beyond the pandemic."
The invitation is clear: online business is the future and although it is not an easy path, the right advice and support will always be within reach. In this short post, let's talk about the key aspects to consider when starting an online business.
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From choosing the right niche to gaining a presence on the web; from knowing what people are looking for to the different options to achieve sustainability, there's a lot to consider when starting and managing an online business. But let's not get overwhelmed, the toughest race starts with small but firm steps. Let's see:
Many think that an online business is to take a product and then try to sell it on the web.
That may be the most basic thing about ecommerce, but to ensure success and permanence, you must first focus on the need for a niche that catches your attention and then structure a business around solving that need.
How? Through the web.
Don't miss our resource "Thinking about entrepreneurship? Define which type of business suits you best"
Planning is the key to success in every business. So, if you already have a sketch of a service or product, its differentiating elements and a prospect of "buyer," it's time you put it all in writing.
How? Following the structure of a business plan. In addition to what has been said above, you will add the description of your competition, your work team, their roles and the estimate of each of the expenses or investment required to start your online business and make it sustainable over time.
An online business does not exist without the Internet, a basic step will be the construction of your small space on the web.
And here's another key: simplicity! You must convey a message in a few words, your site has 5 seconds to convince that you offer solutions, otherwise potential customers will leave and will not come back.
There's a lot to do to start a website, but the fundamental basics are:
When it comes to building and formatting a website for an online business, Entrepreneur.com offers these simple tips:
Your service will be unique, well planned; your website is simple and extraordinary, but if you don't attract traffic, you don't exist! Your content should be original and designed with your niche or "buyer" in mind, and it must also take into account SEO positioning tactics.
These are the metrics that Google and other search engines rely on to show your site on their results pages, so you probably need to hire agencies or editors who know these techniques.
Additionally, there is SEM and the "pay-per-click advertising" which are a shortcut to attract traffic to a new online business.
Just as your site seeks to sell a service or product, hundreds and thousands of other sites sell advertising and that's where a good "PPC ad" will bring you traffic right away. About this, Entrepreneur.com makes reference to Richard Stokes' resource: "the ultimate pay-per-click advertising guide".
Name rights, trademark considerations, patents, taxes, zoning laws, shipping restrictions, among other regulatory aspects, become a real "mined ground" that you'll have to navigate.
Non-compliance with legal aspects can be costly and it may be ominous for any venture. Therefore, you will need to delve into your research, you can start by consulting official sources such as the Usa.gov portal, the SBA, or the IRS.
There is no more powerful gallery for any online business than social media: Facebook, Twitter, Instagram, YouTube, Pinterest. Create a personal or business account in all of them and become an active user in all media where your leads or buyers can be found.
Create "value content" and distribute it across the networks: articles, videos, infographics, brochures, or any other material associated with your business that people find useful, and make sure that the "share" or "send to a friend" option is always available.
On the other hand, email marketing is another very valuable resource; with it you will have an easy, economical, effective and always open channel to your most loyal customers or followers.
Are you going to start an online business? Or have been already dabbling for some time and you feel that your expectations are not met? Make a quick review and see what you can apply or improve accordingly.
At GBS Group, we know the hard work, dedication, diligence and proceedings needed to create, manage and grow a successful online business and we are here to support you throughout that realization process.
Let's work together!