Top 5 tips to opening a successful online business
Making a success of an online business can be a daunting task. From choosing a product or service to a brand image, there are many factors to take into consideration.
In this article we take a look at some tips to take advantage of when opening a new business and looking to get noticed.
Find where the demand is
Doing your research can be critical to the overall success of your new business. Taking the time to find a niche which fills a demand will contribute to how your business performs and ultimately how profitable it will be.
If you decide to follow other businesses into similar markets, be aware you need to think how you can do it better and offer superior service to your customers. Coming up with a USP (Unique Selling Point) is a great way to focus on this.
Ways of doing market research can be visiting online forums which give you an idea on demand for a product or service, or even conducting in-person focus groups. You can even try-out your product or service on friends and family, but you may need to cut through the overly-positive feedback to get to the bottom of any potential issues or sticking points.
A brand image to remember
Developing the businesses brand image is what will make you stand out from the many other businesses out there. Overall, it needs to be memorable, whether that is a logo or a slogan that represents your company.
Successful brands and logos can be recognised all over the world from Apple, Coca Cola, down to the golden arches of McDonald’s. I appreciate these are extreme examples but it is worth bearing them in mind when developing the image you want to represent your business. A good brand will invoke a positive emotional response from your customers.
There are many brand design companies out there to choose from. Having some clear ideas when going into a consultation with a design company will give them more of an idea on how you wish your business to be presented.
Project your brand online
Set up your online business properly at the beginning. This will prevent you having the pain of continually migrating and redeveloping. Outsourcing this to a specialist software company will enable you to explain the needs and goals of your business, and see them come to life with a professional dedicated team to create your vision.
Businesses have had to adapt and Mobile Applications have become a must. Specialist companies are able to incorporate this into the software development of the business covering IOS and Android Apps.
Build a following
Building a following is a great way to spread the word on what your business has to offer or the services you can provide. Social media has been essential to this over the last few years and gives you a digital outreach without the expense of physical mail drops.
Sites such as Facebook, Twitter and Instagram are a great way for you to encourage existing and new clients to share their positive experience with their followers which broadens your business reach significantly.
However, make sure your customer service and products are amazing, otherwise negative reactions can hurt your business.
Focus on the customer
We have all heard the saying “the customer is always right”, well this has never been so important, especially with today’s social media ‘keyboard warriors’. Customer reviews and shared experiences can make or break a business’s reputation.
Meeting a customer’s expectations can be difficult and also things can happen out of your control which contributes to a negative outcome. The key is to try and not become frustrated and work with them to resolve the issue as best you can.
As long as you have done all you can to empathise and fix any issue, that is all you can do and in the majority of cases the customer will appreciate that.
Take care of the finer details when looking to open a new online business. From doing market research to getting friends and families opinions on your ideas will also help in finding the right direction to take your new business.
Online is a growing market so making sure your business is at the forefront of mobile technology is essential. Consulting experts in this field can prevent pain further down the line.
Creating a business you believe in will enable you to fully commit to making it successful in the long run.
As Marc Anthony puts it, ‘If you do what you love, you’ll never work a day in your life’.