Ever since the invention of the Internet in 1983, there has been a constant revolution in how it has shaped the present and future of the human race. As of January 2020, about 4.54 billion people use the Internet, which accounts for about 59% of the global population. The Internet has played a major role in how our world looks today, contributing significantly to both rapid urbanization and globalization. Several billion-dollar businesses thrive completely in the online world of social media. Two of the most popular ones are Amazon and Flipkart.
If we were to talk about online sales of all goods and services, the statistics are skyrocketing. The global online market is expected to reach an all-time high of 4 trillion this year. In 2019. e-Commerce websites catered to an online customer mass of 1.92 billion buyers. In the next 3 years, e-Commerce retail purchases are expected to rise to 22% from 14.1% now. This is the best time for you to be alive if you are an online service provider.
With the whole world going digital, there obviously exists cutthroat competition among all businesses that have listed themselves on the Internet. Below provided are 7 tips that can give you an extra edge over the others to make your online business stand out in a million, literally.
1. Be honest with all your claims
The first step towards building an online brand identity is doing everything you can to build trust. One of the most major differences between a virtual product and one bought from a store is authenticity and trust between the buyer and seller. Make sure that everything you claim in your posts, sales copies and advertisements is absolutely true. Do not lie or make any false claims if you wish to reap profits and be in the market for a long time.
2. Invest in good quality product images
Since there is no way for a customer to judge your product except carefully examine your product images, it is highly advisable to invest in their quality. This investment will reap you great returns as a large number of customers judge a product primarily based on its look. Do not invest in one or two pictures but a wide range of photos from different angles. This is important as the more pictures you provide, the more questions you answer regarding your product.
3. Harness social media
Social media is the biggest tool in any online business person's disposal. Due to the statistics mentioned above and a large number of people active on platforms like Facebook, Instagram, YouTube, and Twitter, make sure that you generate ads for each and every application out there. Build a good profile and reach out to your customers via social media to give your services a personalized touch. Also, join an online community in the name of your business and contribute significantly. Apart from this, make sure that you align all your social media posts and updates with recent trends to expand your reach.
4. Start a blog
Starting a blog for your business is a great idea if you want to give people useful tips and tricks. You can also showcase your products and give detailed information about them. This is a great way of meeting and interacting with the intellectual segment of customers and understanding their needs and recommendations to customize and better your product or service accordingly.
5. Showcase customer testimonials and reviews
One of the best ways to get more people to buy your products and build trust with your audience is by strategically using customer reviews and testimonials on your website and social media handles. This helps other potential buyers understand what to expect from your services. This also builds trust as now your customers have a third-party unbiased opinion to consider before making a purchase decision.
6. Pricing strategies and payment options
It is important for you to initially price your products strategically and flawlessly to give your customers an offer that they simply cannot refuse. You can also use the concept of tiered pricing where you basically need to price products on a per unit basis within a range. You can change the price once a tier has been sold. This is how most electronic goods are priced.
Another important point is to make sure you provide your customers as many payment options as possible. Many times, a customer opts out of buying a product due to convenience in making the final payment. Give them options of cash/card on delivery, credit or debit cards, net banking, UPI, Paytm, Paypal, Google Pay, etc. If possible, you can also introduce the option of EMI installments with different interest slabs.
7. Search Engine Optimization
SEO or Search Engine Optimization is one of the most important ways of expanding your reach and garner more customers for your business. Optimize keywords in your website(s), social media posts updates and blog posts to ensure that your services appear first in any online search. This also ensures that you target your customers strategically by adding appropriate words and hashtags.
Running a business on the internet is tougher than it meets the eye. You constantly have to be up to date with all current trends both online and offline. While building trust is difficult for any online business, holding on to it and increasing it is even tougher. You need to be consistent with your efforts. Above all, always be patient as it takes time and perseverance to build an online community.
