“More than 100,000 small businesses have shut down permanently since March 2020. These were the findings of a study from the University of Illinois, Harvard Business School, Harvard University, and the University of Chicago.”
Let’s Bet, it's Best Online!
2020 is finally coming to its end, phew! It was a LONG year accompanied by challenging times for everyone, from being forced into isolation, to losing your loved ones. It had especially been a hard year on the business geeks. Many businesses suffered a low blow and shut down leaving countless people financially unstable. But miraculously there was a slight ray of hope ‘The Internet’. It saved us from going totally insane and normalized life to quite some extent.
Like everything else, businesses especially the smaller ones need to adapt to the challenging times and shift online to ensure survival. If you are an entrepreneur who just shifted online or are in need to boost your online revenue, then you’re in luck as we are bringing some amazing tips for you that are guaranteed to work in your favor. Look at our tips to Increase your Business Revenue Online.
Let’s Bet, it's Best Online!
“More than 100,000 small businesses have shut down permanently since March 2020, according to a study from the University of Illinois, Harvard Business School, Harvard University, and the University of Chicago.”
2020 is finally coming to its end, phew! It was a LONG year accompanied by challenging times for everyone, from being forced into isolation, to losing your loved ones. It had especially been a hard year on the business geeks. Many businesses suffered a low blow and shut down leaving countless people financially unstable. But miraculously there was a slight ray of hope ‘The Internet’. It saved us from going totally insane and normalized life to quite some extent.
Like everything else, businesses especially the smaller ones need to adapt to the challenging times and shift online to ensure survival. If you are an entrepreneur who just shifted online or are in need to boost your online revenue, then you’re in luck as we are bringing some amazing tips for you that are guaranteed to work in your favor.
01. Keep it Simple
Overwhelming Procedure
Keeping it simple reduces friction. Many times, customers change their buying intention because either the checkout process is too complicated or there is excess information on the site, thereby making it difficult for them to navigate and get the product they truly desire. Remove unnecessary steps or any field that requires too much information in forms.
Good User Interface (UI) Design
You must ensure that your business page is aesthetically pleasing to the users. It means having a simple UI with a good color combination to avoid the users’ eye strain. Doing this, will not only leave a good impression but they will also have an enjoyable experience of visiting your site and would be more willing to bring in their friends as your customers.
01. Keep it Simple
Overwhelming Procedure
Keeping it simple reduces friction. Many times, customers change their buying intention because either the checkout process is too complicated or there is excess information on the site, thereby making it difficult for them to navigate and get the product they truly desire. Remove unnecessary steps or any field that requires too much information in forms.
Good User Interface (UI) Design
You must ensure that your business page is aesthetically pleasing to the users. It means having a simple UI with a good color combination to avoid the users’ eye strain. Doing this, will not only leave a good impression but they will also have an enjoyable experience of visiting your site and would be more willing to bring in their friends as your customers.
02. Improve your Social Media Game Plan for Broader Reach
Social media is a powerful and immense tool that can make or break any online business. It can help build your business profile and attract new customers to your store. However, it requires proper planning to achieve such benefits for which the following steps can serve useful.
⦁ Make social media your top priority.
⦁ Carefully plan short and long-term goals and commit to them.
⦁ Provide valuable content and share posts that resonate with your brand.
⦁ Timely response to customers’ comments and messages as it helps in building a long-lasting relationship with them.
⦁ Using advertisements to boost reach, it can either be done via Influencers’ Shoutouts, Giveaways, or Paid Advertisements available on the platform.
⦁ Collaborations with other companies can benefit you both in terms of Brand Awareness and increased sales.
02. Improve your Social Media Game Plan for Broader Reach
Social media is a powerful and immense tool that can make or break any online business. It can help build your business profile and attract new customers to your store. However, it requires proper planning to achieve such benefits for which the following steps can serve useful.
⦁ Consider social media your top priority.
⦁ Plan your short and long-term goals carefully and commit to them.
⦁ Share posts that are consistent with your brand and offer insightful content.
⦁ Quick attention to messages and remarks from clients since it fosters a bond that will last a lifetime.
⦁ Advertisements can be used to increase reach through Influencer Shoutouts, Giveaways, or Paid Advertisements offered on the platform.
⦁Working together with other businesses can help both of you grow your brands and increase revenue.
03. Adopt the ‘Customer-First’ Mentality
First Identify, then Cater
The biggest mistake new businesses commit is that they try to focus on ‘everyone’ as their audience. This leads to a confused strategy and the outcomes are almost never in their favor.
To avoid such baggage, the very first step is to identify your customers via free tools like Google Analytics. This helps you to focus your energies in the right places.
Anticipate the need via Market Research
To be relevant, you need to know about the market and provide services that you think are the need of your identified customers. Once you have what they desire, you can use the optimal strategy to make sales and earn revenue along the way.
Customer Satisfaction
The purpose of business is not solely to make profits but to create & keep customers. You want them to come the first time, then come again and finally bring their friends. To gain the luxury of maintaining an in-flow of customers, you need to give special attention to Customer Satisfaction.
Customer satisfaction can be achieved in the following ways
⦁ Providing Quality Products
⦁ Awarding the regular customers with Gold Membership/Gold Stars.
⦁ Timely answering the client queries be it via live chat or email.
Testimonials – The Most Valuable Weapon in your Arsenal
One reason to make efforts towards customer satisfaction is their valuable feedback & reviews. Such feedback, known as testimonials, is even more important today in the world of online business. These testimonials help increase your brand authenticity and bring in more customers.
03. Adopt the ‘Customer-First’ Mentality
First Identify, then Cater
The biggest mistake new businesses commit is that they try to focus on ‘everyone’ as their audience. This leads to a confused strategy and the outcomes are rarely in their favor.
To avoid such baggage, the very first step is to identify your customers via free tools like Google Analytics. This helps you to focus your energies in the right places.
Anticipate the need via Market Research
To be relevant, you need to know about the market and provide services that you think are the need of your identified customers. Once you have what they desire, you can use the optimal strategy to make sales and earn revenue along the way.
Customer Satisfaction
The purpose of business is not solely to make profits but to create & keep customers. You want them to come the first time, then come again and finally bring their friends. To gain the luxury of maintaining an in-flow of customers, you need to give special attention to Customer Satisfaction.
Customer satisfaction can be achieved in the following ways
⦁ Offering High-Quality Products
⦁ Gold Membership/Gold Stars shall be given to loyal clients.
⦁ Response time to client queries, whether via live chat or email.
Testimonials – The Most Valuable Weapon in your Arsenal
One reason to make efforts towards customer satisfaction is their valuable feedback & reviews. Such feedback, known as testimonials, is even more important today in the world of online business. These testimonials help increase your brand authenticity and bring in more customers.
04. Strategize to Grab the Customers’ Eye Give Away as Much as You Possibly can ‘For FREE’
People love free stuff may it be a Happy Meal Toy or a month of free Netflix. Other incentives including Vouchers, Coupons, Discounts, Giveaways, and Money-back Guarantees also work wonders when it comes to captivating the audiences’ attention, achieving better sales, and enhancing brand reach.
04. Strategize to Grab the Customers’ Eye
Give Away as Much as You Possibly can ‘For FREE’
People love free stuff may it be a Happy Meal Toy or a month of free Netflix. Other incentives including Vouchers, Coupons, Discounts, Giveaways, and Money-back Guarantees also work wonders when it comes to captivating the audiences’ attention, achieving better sales, and enhancing brand reach.
Psychologically Backed Pricing Strategy
Businesses can use the psychology principle to push customers into opting for the prize plan they really want them to buy. It starts with providing three plans to the customer: the cheapest, middle-prized, and the most expensive one.
The probability of a customer opting for the middle-range price is the highest because we as humans usually try to avoid the cheapest and the most expensive products. This technique is known as “Decoy Pricing.”
Psychologically Backed Pricing Strategy
Businesses can use the psychology principle to push customers into opting for the prize plan they really want them to buy. It starts with providing three plans to the customer: the cheapest, middle-prized, and the most expensive one.
The probability of a customer opting for the middle-range price is the highest because we as humans usually try to avoid the cheapest and the most expensive products. This technique is known as “Decoy Pricing.”
05. Be a Competitive Ninja
Competition is what makes us hungry for success. Get out of your comfort zone and go the extra mile to differentiate yourself as this differentiation is the key to successful selling.
You MUST have a competitive advantage and if you don’t have one, create one. This advantage of yours known as your USP (Unique Selling Proposition) is what makes you better than others and makes your products more so desirable. It can be your location, your values, your employees, your product, and can even be you as a personality.
05. Be a Competitive Ninja
Competition is what makes us hungry for success. Get out of your comfort zone and go the extra mile to differentiate yourself as this differentiation is the key to successful selling.
You MUST have a competitive advantage and if you don’t have one, create one. This advantage of yours known as your USP (Unique Selling Proposition) is what makes you better than others and makes your products more so desirable. It can be your location, your values, your employees, your product, and can even be you as a personality.
The Takeaway
Having your own business is challenging & rewarding at the same time. Proper planning & following the tips mentioned above is the key to getting started with running a successful business, especially during such a global situation.
P.S A Token from Icon
“We’d love to see you more successful. If you want a more detailed guide on how to benefit your online business, be sure to check out our free e-book on ‘5 Steps to Grow your Business in 2021’.”
P.S A Token from Icon
“We’d love to see you more successful. If you want a more detailed guide on how to benefit your online business, be sure to check out our free e-book on ‘5 Steps to Grow your Business in 2021’.”
