Online business has been a competition to all the physical business since the last few years. The entrepreneurs of small businesses are also entering into this digital market. Here, you can get some really interesting facts about doing the small online business.
Print Industry
The whole print industry of United States can be considered as dead. According to the Business Insider, the revenue generated by advertisements in Google is larger than the total revenue from the US print industry.
Apple as the Leader
In this world of digital marketing, Apple has surely paved the way of technological development in the IT products. Two-thirds of its revenue comes from the products launched after 2007.
Role of Amazon
Amazon can be considered as the pioneer in the online business industry. The annual revenue of Amazon is larger than half of the gross domestic product of the world. Though it does not depend on the physical retail activities, the warehouse area is so large that it can fit 700 Madison Square Garden inside it.
Fast-Changing
As the online business is updating very fast, 12% of employees are not aware of the change in their own organization. The small businesses are also a part of this change revolution.
Mobile Internet
The medium for using the internet is also changing day by day. 38 million people had broadband internet connection in the year 1999. But today 1.2 billions of people are having internet connections in their mobile phones. The role of mobile internet has become so essential part of our lives, that more and more people are providing priority to it even over drinking water and electricity facilities. Thus a small online business can target a large market.
Use of Tablets
The tablet users are increasing day by day. More than 200 million tablets have been sold in the year 2013.So your online business site must be compatible with both tablets and phones.
Non-competitive
After the user survey done by ‘Ctrl Alt Delete’, it has been found out that 14% of the online businesses are backing off from getting updated in this competitive world.
Proper Research and Relevancy
If you are offering any discount, it must be very relevant to the occasions or to the target market you are offering. For example, if your target market is Indian users, then you may offer special discounts on Diwali or Navaratri. You need to do a proper research of the country, the target market and understand their preferences properly.
Out Of the Box
When you are involved in the online business, you need to be very creative and always think out of the box. You can make just an ordinary day a very special one. For example, you can offer discounts by the names Super Sunday, Thrilling Thursday or Fantastic Friday offers.
SEO activities
Proper SEO activities can increase the ranking of your product page. The title and description of the products need to be unique to improve the rank and thus the conversions and sales.
Email Marketing
Email marketing is very essential to get repeat customers. You must keep the data and information of the customers and the visitors who may be a potential customer for your business. You can expect improvement in your revenue through the email marketing. Therefore, the successful small online business should usually have undergone through all the mentioned activities. As the print industry will become totally dead within few years, you may shift your advertisement activities also in this internet marketing world. Nowadays, starting from the product advertisement to the delivery of the product, you really need to depend on the internet.
Terry Godier is the author of this article and he is a financial expert who has knowledge about the field of finance. He has experience of seven years as a financial writer and has worked in the retail sector. He has also outlined about payday lenders in this post. He is sharing here his experiences and some suggestions regarding the activities of the small online businesses.