The future of business has evolved dramatically since the pandemic. Brick and mortar shops are becoming obsolete as we rely more on and more on digital platforms to tend to our everyday needs.
Every business owner is shifting their products online, with respect to this, working from home is the new norm.
So, in this blog, I’ll provide you with simple advice on starting an online business.
1. Business Plan
A good business plan will help you organise and identify the steps that you need to take in order for you to conjure a linear tactic and come up with a contingency plan. Start with the basics, for example: What tools and software do you need for your product? How much will it cost and is it suitable for your budget? Does it resonate with your niche?
Drawing up a plan or blueprint can help you in massive ways.
2. Pick the right Business model
There are various types of business models in the market, one of the most common and lucrative ones are B2B (Business to business) ex: Softwares, devices. Or B2C (business to consumers) ex: Food, gadgets.
How will your product impact the market? Will you be solely focused on your consumers? Or is your product going to cater to other companies?
3. Identify your target market
Put together a buyer persona. Will your product be beneficial to generation X? Y? Or Z? According to research, here are some of the key attributes of each generation mentioned.
Gen X (1966-1979) - The Day Care Kid
Independent and self-reliant. Apparently, in the ’70s, the divorce rate soared therefore single mothers had to seek employment, leaving these kids a bit neglected of motherly love. Hence, the kids developed self-sufficient and independent mentalities.
Surprisingly, despite their self-independence, the Xer’s love working in a friendly and open environment.
Now you might think that this generation are internet snobs but they’re actually tech-savvy and utilise the internet productively to research companies and products.
Gen Y (1980-1994) - The Millennials
The Millennials had undergone the transition of technology, from playing tag outside to Nintendo to Playstation.
This generation are very tech-savvy and have different views of the world. Millennials are more confident and optimistic than Gen X but are not very fond of traditional advertising, instead they rely more on word of mouth when it comes to purchasing a product online. So, if this is your target market, make sure you have your comment section full. Gen Z (1995-2012) - The Zoomers
They are also known as the ‘cancel culture' They are smart, a bit impatient and know their way around technology. They like things to be prompt and fast. Most of them voice out their frustrations online hence the term, cancel culture. Most of the Gen Z’s know what they want and they don’t go around the bush when they want to purchase a product. They like to switch in between online and offline shopping. They are inquisitive so make sure that your customer service hotline is available around the clock.
Profiling consumers before launching a product is a great way to identify your target market and build your campaign based on the attributes of your clients.
4. Research
Aside from your target market, invest a bit of research to whom you will be competing with, identify what makes your product unique compared to them, such as, "What are their strongest assets?" "Is it the delivery time?" "Is it customer service?" "Is it the price range?" Note down these important aspects and see how you can find a turnaround or a unique approach on how you can compete with your contender.
Related section: The Secret Ingredient in Digital Marketing Strategy: SEO
5. Set up your Business
Think of a logo that will resound with your brand, or a catchy phrase, or write up a good history of how your business was conjured. You can check if your business name is available when you apply for a domain name. So don’t stick to one idea, jot down a couple of names so you will have options.
Paperwork: Lodge in the relevant requirements for your online business, make sure that everything is set up so you won’t have any delay once you launch your site.
6. Platforms
If this is your first time in eCommerce, do your research on what platforms work best for you, they have available tutorials on their site and all over the internet.
Familiarise yourself with how they work so you can have seamless transactions when you start building your business. It’s also helpful to familiarise yourself with the web language such as SEO, Saas, Cx. But I’m sure that you will learn as you go. The internet is, after all, a convenient place to obtain information.
Social networks are now a substantial part of every marketing strategy, and the benefits of using social media are so great that anyone not implementing this cost-effective resource is missing out on a phenomenal marketing opportunity.
-Blue Fountain Media
7. Teasers
When you’re halfway done in constructing your website, create campaigns or teasers and make a bit of noise on social media, create snippets of what’s about to come.
It’s practical to prepare in advance; it would be wise to have advertisements lined up in your content calendar, therefore, giving you ample time to create fresh and new ideas without the hassle of deadlines.
Reemoote can help you build and set-up your website and create campaigns for you with a fraction of a cost, Our team will create a sequential, bespoke strategy and branding to ensure that your needs and taste are met in building your unique brand. Contact us now and let’s start working together!