6 Things You Must Know Before Starting a Small Business Online

by March 18, 2016 0 comments

Did you know online sales are snowballing at a rapid pace than the traditional offline retail sales, gathering $190 billion in revenues? For about 206 million shoppers, this was the amount of spent money online last year and the figures are mounting every day

By Ankit Gupta, Owner, ExportersIndia.com

How interesting the stats are! Because of all these facts and figures, it’s no astonishment that the burgeoning tycoons and the prevailing small businesses are whirling to do business online. But, simply getting attracted to the growth and scope of doing business online, you can’t succeed. Maybe you are ready for the funding, have planned everything about the cash flow, even your inventories are managed, and most of all, your marketing campaign is all set to get launched, but still there is a lot more that you must know before proceeding.

Here I share 6 things that you all must know before starting a small business online. Let’s begin…

  • Effective Marketing Tactics Help Increasing Sales

According to the recent studies 49% small business owners are not even certain of the effectiveness of their marketing efforts, and 14% are aware that they’re not.

It’s is strange, but true that only a minority of small business marketers use the marketing tactics that are effective. It is very important for all the beginners to efficiently promote brands, build preference as well as increase sales using various digital marketing techniques thereby correctly reaching to the potential customers.

Remember! You can make use of marketing channels like word of mouth, SEO and Online Local Directions, which are effective in attracting new leads by 28%, 20% and 15% respectively.

  • Ignoring Lead Generation Will Affect Customer Acquisition

Did you know in 2016, 1 in 2 online small business owners will care about driving sales, but only 1 in 3 will pay great attention to the lead generation?

There is no denying that sales are the topmost concern for any business online and small businesses are no exception. Just like revenue and profits are important for the growth of the small businesses, collecting and tracking leads are equally significant. This is all because online leads generation is beneficial for creating customer acquisition programs and for list building.

Remember! You can make use of online lead generation techniques such as Search Engine Optimization (SEO), Pay per Click (PPC) Advertisement, Networking, and Social Media Marketing, and Solo Ads to name a few keeping an eye on their effectiveness for your business.

  • Use Predictive Analysis To Kick The Financial Barriers

As per the recent reports, 30% of high-performing small business service teams are already using predictive analytics.

No one can deny that not every product is sell-able on the internet. So, it’s important for you to analyze everything and so start with recognizing the success rate of your product and the location so as to easily grab customers online. Above all, it is important to research about the magnetism for your customers and keep an eye on what all your competitors are up to. The reason why predictive analysis is significant is that this can avert the financial impediments, dreadful crusades and crying patrons.

Remember! Also, even if you are having a reliable hosting and a website to put your business out there, keeping an eye on your online presence is a must. So, it’s important to be consistent with your updates. Since you are aware of everything that’s happening, your business will be many steps ahead of others.

  • Social Media Marketing Increases Exposure

According to the stats, 60% of small business marketers say that social media advertising is very effective.

Moreover, as per the recent studies, 96% of surveyed applicants make use of social media marketing and 92% of them unwaveringly agree that it is important for their business. So, how can you skip on this? It’s imperative for you to know that social media aids in offering “increased exposure.” Along with this, it helps in building brand for your small business and cuts on the marketing expenses due to which your sales upsurge over time.

Remember! Go out and become friends with platforms like Facebook, Google+, Pinterest, Twitter and others. Start with a social strategy, recognize your goals (increasing site traffic, building conversions, etc.), plan accordingly and don’t ever forget to gauge your growth towards your specific goals.

  • Website Design Aids Marketing And Branding Efforts

Did you know 31% of the online small businesses revealed that they don’t have a responsive website design?

It is very significant to bear in mind that as a small business, the website is a vigorous part of the marketing and branding efforts. It’s important that your website is not only selling the product or services but is also answering the questions visitors are coming with. And in case, you designed a wrong website, at first, you will easily drop thousands of dollars and then eventually, you will mislay even more money in potential revenue, which you would have earned from a well-designed, properly functioning website.

Remember! Make sure that you don’t go overboard with the design of the site. Plus, also, keep an eye on offering a clear call to action. Don’t ever incorporate stale content. In addition to this, your website must not lack the mobile compatibility and make sure that your social media buttons are not broken.

  • Pick The Right Payment Gateway To Reach Greater Audience

You will agree with my point that an online payment gateway can offer your small business an amazing exposure to even a greater audience, but only the time you have opted for the right one. More and more users are happy enjoying online shopping since it is easier. With an easy payment gateway, you will be capable of gaining more customers exposing your products to a completely new foundation of patrons independent of the geographical boundaries of your store. Instead of relying blindly on just the conventionally used payment gateways that may give you a hard time dealing in thousands of dollars, give a try to gateways like InstaMojo, Citrus Pay, CCAvenue, PayZippy, and others to close the deal.

Remember! The major things that you need to take into account before deciding on what payment gateway options to opt for are first, the transaction fee; secondly, the type of cards and thirdly, you must be clear of the on-form payments.

The Final Take!

Ample of information keeps on spurting all sorts of statistics and breakthrough marketing updates, which sometimes are way too perplexing. Stop scratching your head now, look no further, grab a cup of tea or coffee and start working on the discussed six things – trust me your small business online will do wonders! With this, I take your leave hoping that this post has helped you.

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