March 22, 2021

LeadershipMarkets & Free Enterprise

The ABC’s of Building a Successful Online Business

By: AF Editors

After 2020, things will never be the same, including your career. 

Whether you managed to keep your job, ending up working from home full-time, or are now unemployed , you know the “new normal” isn’t going anywhere.

In 2020, remote work, online shopping, and  food delivery apps became staples of every day pandemic lockdown life. With governments across the globe continuing to push a variety of measures to curb the spread of new strains, putting all of our business online is a safe bet. By developing a business idea that doesn’t necessarily provide in-person services, you could easily weather many other potentially ruinous economic storms in the future, pandemic related or not. 

So, how do you go about starting a successful online business? 

While technology has come a long way and there is a great deal you can do from the comfort of your home, there are a number of things you should consider doing before planning  a launch date. 

1. Get Your Market Research On 

Believing in your passion is one thing. Knowing whether people will pay money for what you have to offer? That’s a different question. 

It is essential to evaluate the market demand before setting up shop, and that involves looking into what people are searching for online. Once you do your research, ask yourself: do the keywords used by consumers on search engines like Google match the keywords used in your line of business?

Using tools like Google Keyword Planner, Soovle, or Competitor Source Code, you can make keyword searches that will help you come up with optimal  product names and descriptions. Additionally, it will provide you with plenty of material for content. 

If you conduct your market research and you don’t recognize a considerable demand for your product, it might be time to reevaluate your plan. But that doesn’t mean giving up!

2. Become a Social Media Expert 

Much like getting your market research done right, becoming fully acquainted with the most popular social media platforms and what their users are saying can give you a serious edge. 

Searching hashtags, trends, and what influencers are sharing can give you a good idea of how you should go about reaching  your ideal customer base. It’s  through social media research that you become acquainted with the language your customers speak. 

Your social media presence must appeal to your target audience and knowing what kind of content speaks to them will pay off in the long run. 

3. Create a Narrative Brand Before Launching Your Business

Entrepreneurs that are  passionate about  what they do often know everything in  their line of business. Using this knowledge to create buzz online before launching your enterprise might be a good path , especially if you’re trying to build confidence. 

So how do you go about creating a narrative brand first? Look no further than companies like Spearmint Love, a baby product company, that actually started as a blog. 

Following the birth of her first child in 2009, Shari Lott started the Spearmint Baby Blog to discuss all things baby. As the site grew, people began to ask where they could buy the items she reviewed. Three years later, Lott opened her own store. 

If this step is something that interests you, then the next step will seem like a breeze. 

4. Write Exceptional Copy

You have the keywords and your target audience’s mastered.. Now, you need to write captivating copy.

If your narrative brand blog or site is going well and is becoming more popular, writing great sales copy won’t be hard. But starting a business without a well established blog can be done. Keep in mind, however, that your content needs to match the quality of your product or service. In other words, top quality content will reflect a top quality business. When it comes to sales copy that works, there are some elements that are always present. 

First, it arouses interest by encouraging the reader to act. Negative headlines might sell newspapers, but they don’t sell good, reliable products. 

Second, your content must establish your brand as a top expert in your field. You must convey to your audience that you can get this problem solved with your two hands tied behind your back and your eyes closed. But, don’t get too cocky. Instead, talk about benefits, and don’t be afraid to use the testimonials from your customers as leverage. However, do keep in mind that not every review you receive will be positive, but almost all of them will be helpful in one way or another.

When writing content for your business site, remember to keep it to the point. Also, be ready to guarantee that whatever you’re selling is the bee’s knees. 

If the brand doesn’t have faith in itself, who will? 

5. Learn to Use Email Marketing

According to a study by McKinsey & Company, email marketing is 40 times more effective than social media marketing and yet, many business owners neglect it.

When creating your narrative brand or business site, remember to set up an email opt-in listing system that helps you keep in touch with your customers. 

Every single person who visits your site is there by choice. Giving you their email in exchange for promotion links or other goodies is always a good idea. Additionally, it helps you develop a relationship with your customers that you simply cannot develop any other way. You can also guarantee that anyone who signs up for a newsletter is a loyal customer, the best kind to have.  

Instead of spending money you don’t have with ads, build an opt-in list. You won’t regret it — and neither will you customers, who actually do like to keep up with what their favorite brands are up to.

If establishing your brand online is important to you, especially in times of crisis, paying attention to quality will pay off in the long run. Just remember: creating content that speaks to your target audience will require dedication. 

Being an expert on the goods you’re offering provides you with a solid foundation and helps consumers associate your brand with the expertise they are after. If you keep that in mind, you’ll be on the right path.