The digital space has proven to be quite profitable for businesses. Over 1.6 billion people worldwide shopped online in 2016. In the United States, eCommerce sales generate $1.9 trillion in 2016, and the figure is expected to grow to $4.06 trillion by 2020.
While the prospects of launching an online business may look appealing, entrepreneurs need to understand that the competition is fiercer than ever before. Not only that numerous businesses fight for the attention of the same target audience, but consumers are becoming pickier about what they want from brands.
So, what can you do to grow your online business?
Here are six simple strategies that will deliver results in no time.
1. Target the Right Audience
“If you open the window and make love to the world, your story will get pneumonia,” said Kurt Vonnegut. The same stays true for your online business. Just because you can, it doesn’t mean that you should try selling to the entire world.
Develop accurate consumer personas and learn as much as you can about your target audience. The more specific the image of your target customer will be, the accurate the message you send to them. And, if your audience relates to your message, then they are more likely to convert.
2. Create Original Content
Engagement is one of the most valuable currencies that can help grow your online business. Create content that is relevant to your audience’s needs and helps them solve their problems. Educate your prospects about your products and the industry and enable them to make educated decisions. Encourage them to interact with your content and each other and share your article if they found it useful.
3. Don’t See Social Media as a Silver Bullet
It’s great to have a settled social media presence and thorough strategy, but you also want prospects to interact with you directly. So, don’t assume that social media is the king of online business growth and don’t ignore other strategies in its favor. You should provide the best experience regardless of the medium your prospects are using to connect with you.
4. Review Your Pricing Strategy
You know that your products or services can add value to your customers, but how do you tell them that? More importantly, how do you price your products to reflect what you can offer? After all, you don’t want them to consider you a cheap option nor to run away when they see the cost of your product/service.
Try a tiered pricing model.
Offer an expensive option and a cheap one and then introduce a third variable. The first two options will function as an anchor, making the third one look like the best deal.
5. Switch to Sustainable Paper
Here’s the thing: besides the clear environmental benefit that switching to responsibly-sourced paper brings, it can also help your business in the long-term. Consumers nowadays want to shop from brands with a cause and making your company environmentally-friendly can help you build your image.
At Double A, you can find high-quality paper that is sustainable and responsibly sourced. They grow their trees on unused strips of lands and use only the best available pulp.
6. Be Perseverant
One of the most important things you need to understand is that growth doesn’t happen overnight. It is a long process that takes place one sell at a time. Be ready to adapt and switch directions in response to changes in the market.
If you didn’t make it at this point, don’t despair. You can always test different approaches. Adaptability and perseverance are imperative for marketing success, and growing an online business takes time and patience.