The future of retail lies in e-commerce. Every established retail store actively seeks to have an online segment as this can boost sales up to 40% with some hard work, dedication and time. All those desirous of starting an online business must be prepared to do business online as without it, they will seem odd and will be cutting into their own profits.
There are a number of steps to successfully setting up an online business and most entrepreneurs, especially first time ones, have loads of questions such as how to start an online business in India? How to register a business online in India? How to get a CIN certificate? In addition, there are questions that pertain to finance, investment and numerous other issues related to setting up an online business in India. For a newbie, this can be a challenging task, however, subscribing to Coffeemug can ease this process. The platform is designed to connect young entrepreneurs with industry experts and help them find the best path to achieve their goals.
The article provides an insight into the steps to setting up your own online business.
- Find a need and fill it:
The first step to starting up your online business is to find a need and fill it. Most people who are thinking of starting up a business think of a product first and then a market. This is not the right way to go about things. The trick is to find a group of people looking for a solution to something but not finding any and then provide them with that solution. The internet allows you to easily do such market research.
- Visit online forums to see what kinds of questions people are asking and try to answer them.
- Do your own keyword research to find out what other people are searching for but don’t have a lot of competition.
- Visit potential competitor websites to see what they are doing to fill the need and how successful they are.
- Use the information to create a product for a market that already exists and do it better than it has been done before.
- Write copy that sells easily:
A proven sales formula takes visitors through the selling process from the moment they arrive to the moment of purchase.
- Arouse their interest with a compelling headline.
- Provide a description of the problem your product solves.
- Establish your credibility as a problem solver.
- Add testimonials from satisfied customers who have used your product.
- Talk about the product and how it benefits the customer.
- Make an offer.
- Make a strong guarantee.
- Create urgency
- Ask for the sale.
Throughout the copy you must be prepared to think like a customer and focus on how exactly your product helps to solve people’s problems or make their lives better.
- Design and build a website:
Once you have identified your market and product and have nailed the selling process, you are ready for your small business web design. It is important to grab someone’s attention otherwise consider that you have lost a potential customer.
- Choose one or two plain/simple and clear fonts on a white background.
- Make navigating the pages of the website clear and simple.
- Use graphics and audio or video only if they enhance your message.
- In order to collect email addresses, include an opt-in offer.
- Make it easy to buy – only a few clicks to get you to checkout.
- Make your website customer friendly – it is your online storefront.
- Drive targeted buyers to your site using search engines:
Pay per click advertising is the easiest way to get traffic to your site. It is advantageous as compared to waiting for the traffic to get to you organically. Firstly, PPC advertisements show up on the search pages instantly and secondly, PPC ads allow you to test a variety of keywords, headlines, prices and selling approaches
This allows for immediate traffic as well as the best, highest converting keywords through the use of PPC ads. These keywords can then be distributed throughout your site in your copy and code and this will boost your rankings in the organic search results.
- Establish a reputation:
People use the internet extensively to find information. By providing that information free to other sites, you will see more traffic and better search engine rankings. You should always include a link to your site every time you share information.
- Give away free high quality content. Creating articles, videos or any other content that people will find useful is a big booster to your online business. Distribute that content through online article directories or social media sites to reach a wider audience.
- When it comes to valuable content on your website, include ‘send to a friend’ links.
- Become an active expert in social networking sites and industry forums where your target market hangs out.
This will help you reach new readers and every site that posts your content will link back to yours. As a result, you will be rewarded by the search engines in their rankings.
- Harness the power of email marketing to convert visitors into buyers:
By building an opt-in list, it means creating one of the most valuable assets of your online business. Once your customers and subscribers have given you permission to send them emails it means:
- You are providing them with what they have asked for.
- You are developing lifetime relationships with them.
- The response of your customers and clients is measurable.
- Email marketing is cheaper and more effective than print and TV, radio etc., as it is highly targeted.
- Visitors to your site who opt into your list are very hot leads. The best tool for following those leads is email.
- Increase income by way of back-end sales and up-selling:
One of the most important internet strategies is to develop every customer’s lifetime value. Significant percent of the people who purchase from you will order again if you follow up with them. It takes a lot of effort, money and time to close that first sale but it is worth it. Use back-end selling and up-selling to get them to buy again.
- Offer them products that complement their original purchase.
- Send them e-loyalty coupons that they can redeem on their next visit/purchase.
- Offer related products on your ‘thank you’ page after they purchase their products of choice.
- Remember to reward customers to convert them into loyal customers.
There is so much that comes into play when setting up an online business that it is difficult to ensure that you are going about it in the right manner. In times of doubt, it is best to get expert help. CoffeeMug.ai is an AI-powered networking platform equipped with a highly qualified team of analysts, incubators, accelerators, and mentors with diverse backgrounds. With the help of a vast global network and resources, CoffeeMug.ai has successfully managed to support a number of online businesses and increase their customer base, adding significant value at each stage.
Q. How do I register my business online?
A. To begin the process of registering your business online, go to the Ministry of Corporate Affairs’ website. There are two forms that you must locate on this website. The first is known as DIR3, while the second is known as DSC. After you’ve completed each of these forms, you can apply for a DIN online.
Q. Do online business need to register?
A. When establishing an internet business, you must keep a current account in your company’s name. To do so, you must first establish that your company is a legal entity. You must register with the tax authorities and acquire an establishment license to prove this.
Q. Which online business is best to start?
A. Ecommerce, social media influencer, writer & blogger, videographer or photographer, podcasting, and affiliate marketing are some of the best online businesses to start.
Q. What are the benefits of e-business?
A. There are numerous benefits to e-business, the most prominent being the ease of doing business. The following are some of the primary advantages of e-business
- Traditional business Is more expensive
- There are no geographic limits
- Support from the government
- Flexible business hours