7 Tips to Help You Reduce Risk in Your Online Business
Starting a new online business requires the same basics as a bricks-and-mortar store. You still need a business plan, funding, great products, and you need to work hard! Aside from this, you also face many of the same risks as any other type of business.
Hosting a new business on eCommerce sites such as eBay and Etsy is proving to be a very popular place to begin. We all know just how important those first impressions in business can be. So, when your clients don’t get to see you in person, they often default to your website. It is here they will form their first view of you and your company.
Here are seven steps to success for your new online business.
1. What Problem Will Your Business Solve?
For your business to succeed, you need to know your market. Make sure you have established a clear understanding of who your customers are, their needs, and how your product is going to address these needs.
You should also evaluate your competitors and how they are solving some of the same problems. It also gives you the opportunity to find areas of weakness and opportunities for your own business to do better.
2. Write Copy That Sells
You need to make sure your copy is the best it can be. Use these tips to develop a high-converting copy for your customers.
- Use a compelling headline to attract customers
- Always clearly explain how your product solves the problem they have
- Make sure you demonstrate your credibility by showing customer testimonials
- Describe the product and its benefits to the potential user
- Offer a strong guarantee
- Make sure you’ve created a need for the product
- Always ask the customer to buy
One key thing that so many people fail to address in their content is how the product or service they offer can benefit the customer. Make sure you clearly outline the problems that your product will solve, and how you can help them Always think of yourself as a customer.
3. Design a Simple Website
When you design your new website, keep it as simple as possible. Nowadays, people won’t stick around if it isn’t easy for them to see you are offering what they need.
Keep these things in mind.
- If you have a white background, use plain fonts.
- Make sure your website is easy to navigate. Don’t over complicate your page structure.
- If videos and graphics are high-quality and improve your message, utilize them. Otherwise, stick to plain text and word art.
- Always try to collect an email address from your visitors.
- Make it easy for people to see where they can buy your product.
4. Make Sure your Website can be Easily Found
Make sure you submit a sitemap to Google. This is something that all new website owners must do. Use pay-per-click advertising, to begin with. It’s an easy and convenient way to get new customers to your site. You should also research SEO tactics. Put as many SEO tips and tricks into practice as you can.
5. Your Reputation Is Paramount
Provide credible information without asking for money, and you will experience greater traffic to your site. Being a trusted authority can also help increase your search engine rankings. Create free articles, expert content, videos, and ther useful content that will engage your target audience.
Distribute your content through various social media sites and online directories. Always make sure your content links back to your products and services on your website. Search engines highlight links from sites that are relevant, so you can also boost your SEO ranking this way.
6. Use Email Marketing to Drive Conversions
As you build a list of subscribers, you are creating a valuable asset for your online business. Once you have permission to market to these people, you unlock a number of useful benefits.
- Email marketing remains one of the cheapest ways to market your products or services to people.
- You can instantly release offers to people who are interested in what you offer.
- You can use email marketing analytics to track clicks and actions with ease.
- You can gain strong leads from the people who opt-in to your marketing lists.
7. Use an Escrow Service to Protect your Orders
Ensuring your merchandise arrives on-time, undamaged, and up to standard is essential. Escrow.com can help safeguard your purchases when you need to make a high-value transaction with a supplier. No money changes hands between the two parties until all the terms of the sale have been met. This provides added security and a reduced risk of any problems occurring, which could cause your business severe financial stress.
If you need to buy large shipments from overseas, Escrow.com is one of the safest ways to buy and sell online. Take a look at the advantages of using an escrow service here.