4 MAJOR TACTICS FOR IMMEDIATE START OF AN ONLINE BUSNIESS

E-commerce has made it easier for entrepreneurs across the board to be able to access markets where they previously could not. This has served to democratize business and made it so that it is not only startup founders in a certain locale who are able to find success.

Let’s explore some of the strategies you and your business can adopt when starting an online business.

1. Be bold and purposeful

Having a powerful reason for why you are in business can not only help you to stay focused as an entrepreneur, but it can also work as a compass for those that work for your company, as well as consumers looking to engage with you.

If everyone knows the “why” or the purpose behind your enterprise, then you have a higher chance of being able to rally people around the mission. Couple this with the courage to pursue that goal and you’ll be able to persevere even when times get hard.

2. Cultivate a niche

Being able to focus on a particular aspect of a customer’s needs can give your business a better chance of successfully solving a single problem and of gaining a sizable market share in that particular niche.

Successful businesses such as Facebook and Amazon started off as one thing (the former a social networking site and the latter as an online bookseller), and were able to initially stick with their core business, attain success in it, and then conquer other segments.  Kood.Com.Ng starts out as a premier online grocery shop that sells foods and beverages of all kinds from unprocessed to the processed ones.  If not found here, it is not food.

3. Consolidate your online presence

An integral part of starting an online business is building an online presence. Consumers want to have an easy and efficient way of finding and engaging with you, so set up a website with either Squarespace or Wix, as well as social media pages with constantly updated content. In other words, become a digital native.

4. Trade on a marketplace

Marketplaces have made it easier for relatively small startups to engage with buyers across the world with just the click of a button.

Because large marketplaces like kood.com.ng, Alibaba, Amazon, and eBay pull in millions of buyers, you have a better chance of reaching more customers than solely trading from your website.

The advantages of marketplaces for online selling

Here are some benefits that selling on an online marketplace can have for your e-commerce business.

  • Cost-effective: Starting a new venture often entails significant startup costs, including website development and management, customer acquisition, and marketing. Marketplaces enable you to set up an online storefront that is listed in your category, allowing you to set up your online presence at a relatively lower cost.
  • Reach local and overseas buyers: Traditional brick and mortar stores depend on foot traffic to be successful, whereas e-commerce stores depend on online traffic. Because marketplaces pull in millions of buyers, you are able to reach millions of customers across the globe almost instantly.
  • No need for previous online sales experience: The available templates and guides enable you to set up your store and run it with relative ease. Marketplaces such as kood.com.ng make it easier for you to list your products, select categories, and set up shipping and delivery for your business.