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Designing a business strategy has become the obligation of entrepreneurs and companies. Without the right approach, you will find it difficult to survive in the market competition.
Moreover, now everything is digital. An example is the use of websites in doing business, both online and offline. In fact, 84 percent of consumers think that the website is a benchmark for the credibility of a business. In other words, your business will lose to those who already have a website.
If you want to know how to build an online business from scratch, you can read an article about the steps to starting an online business for beginners.
Understanding Business Strategy
In simple terms, business strategies are various efforts made so that the business is run is able to achieve its goals. Of course, the goal in question is optimal income and long-term success.
Ideally, a business strategy is able to answer various questions related to the success of a business. Starting from knowing the intended target market, how to face competition with competitors, how to measure the success of the business being run. Determining the right business strategy is very important.
7+ Online Business Strategies You Need to Know
In this article, you will learn the following six online business strategies:
- Website design for your credibility
- Sign Up for Google My Business
- Content marketing
- Search Engine Optimization (SEO)
- Social Media Marketing
- Build an email list
- Create an affiliate program
- Lucky draw or giveaway
Although there are many more online business approaches that you can find, these six ways cannot be ruled out. If you can run everything, your business is guaranteed to attract the attention of more potential customers in cyberspace. Let's check one by one.
1. Website Design for Your Credibility
Website design may not be a topic that sounds close to online business strategy. However, the appearance of the site is at the forefront of building business credibility in the internet world. What is the reason?
48 percent of people consider the appearance of a website as one of the credibility factors. If the website doesn't look attractive, it's likely that potential customers will leave without thinking. For the record, you only have 0.05 seconds to make a good impression on website visitors.
2. Sign up for Google My Business
Do you remember the Yellow Pages? Before online search engines became popular, the existence of the book was very helpful for business owners. With it, consumers can search for the phone numbers of various businesses and public facilities — just like Google functions today.
Actually, Google also has a similar feature called Google My Business or My Business. This facility displays complete information about a business every time someone uses the business name as a search keyword.
3. Content Marketing
In online business, website design is indeed a factor that attracts the attention of potential buyers. However, it takes something else to get them to know your company first and not rush to leave the site.
Well, content marketing is the one who has that role. This is also one of the reasons why some online marketing experts have the phrase “content is king”.
4. Search Engine Optimization (SEO)
Maybe some of you already have a website and apply content marketing. If so, you need to complement your online business strategy with search engine optimization or SEO. However, what does this term actually mean?
Search engine optimization is an optimization effort so that your website appears on the first page of online search results — or better yet, ranking first.
5. Social Media Marketing
Social media has a role that is no less big than websites and blogs. Through it, you can introduce your business to the public and attract their attention to become customers.
Sounds similar to the concept of content marketing, right? However, marketing through social media is slightly different in terms of implementation and function.
6. Email Marketing
You didn't see anything wrong when you read the title of this section. Even though people are now more likely to communicate through social media, email is still a relevant tool for business marketing. McKinsey & Company states that email marketing is 40 times more effective than Facebook and Twitter in getting new customers.
Not only that, email marketing is a way of marketing that doesn't require large capital, so even new businesses can apply it. The reason is that the ROI or return on capital you receive is 4400 percent greater than the amount spent on this marketing effort.
To get started with email marketing, you need to build an email list of potential customers or email lists. Of course without forcing them to give it.
7. Create an Affiliate Program
Marketing a business is tough. Especially if your company has just been started and lacks publicity. Therefore, maybe you need to invite consumers to become marketing agents. Is this possible? Of course. You do this by running an affiliate program.
In essence, the affiliate is a business strategy where you provide product referral links to people who join your affiliate program.
However, not just anyone can join the affiliate program. Because the scope of your business includes cyberspace, affiliate program members must have a website or blog and content to place a referral link.
In addition, the people who are members of the program must be knowledgeable about your product and related industry.
8. Lucky Draw or Giveaway
Who doesn't love free products? Especially if the product is what you want and need. It is this mentality that causes giveaways to be done frequently, both online and offline.
Giveaways do not bring you any income. However, like content marketing, this business strategy will introduce your brand to a wide audience and create a good first impression.
For those of you who want to hold a raffle with prizes, there are several things that need to be considered. First, you need to be proactive in its implementation. It's not enough to hold a giveaway on your business website without promoting it.