6 Hacks to Create a Thriving Online Business

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Online business is something which has been taking off to crazy levels for the last 5-10 years. Ever since the internet took over the world people have been upping and moving their lives to the online world, and most of the time this is for the better. There is no denying that an online business can be a lucrative affair and if we follow some of the tips below it can be the best decision we make in our lives.

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Licensed Image from Shutterstock – By garagestock

Here are our top tips for online business which you should take on board this year for your own growth.

Utilize freebies

There are a lot of ways we can find success online and there are many things we can do in order to make our online work the best it can be. One of the things we should always do is look for free tools and services to use such as virtual terminals, cloud storage and even social media channels. There are tones of free apps and services out there to use as an online business so make sure that whenever you need something, you take a look into this and make sure to find tools you can use.

Identify your market

The biggest challenge of running an online business is to come up with that winning idea in the first place. When it comes to being as successful as we can this year, it is important for us to identify the market we are pitching to so that we can make the best decision for that market. Let’s say you want to sell kitchen utensils. Your target market would be homeowners, and more specifically parents and women. You would need to identify the market and make sure that you create a brand and vision which appeals to them.

Set realistic budgets

A budget is of course the most important thing for us to implement as a small business and it is incredibly important for us to be able to reduce our costs. Coming up with a budget can be difficult and you have to ensure that you are incredibly careful when coming up with a figure. Be realistic with what you can afford and if you can reduce your costs even more than your budget then you are always going to be onto a winner.

Pick the right domain name

Branding is more important than you know. When you think of a big yellow M you know exactly what comes to mind and this is an example of powerful branding. A brand needs to be recognized and also unique, and part of this will also be your domain name. Everything is online these days and your website name needs to be good enough for people to remember and visit time after time. Be sure to create a fun name which reflects your vision and your personality too.

Design it right

Designing a great website is a big challenge and we need to be able to design the best possible landing page to make people stay and look. For example, if you were a fashion brand you would want to ensure that the first thing anyone sees on your homepage is new season fashion items and deals. Make sure that you always show your best deals on the first page of your website and have some amazing images to go along with them. Color is also an important thing so make sure that the colors you choose to go along with your brand. For example, financial companies might use grey and blue, hardware might use black and yellow, and makeup may use pastel and pink. Make sure that the colors, style and design you choose makes sense for your brand so that people understand the tone of your business from day one.

Be social

Social media is the biggest industry online and it is something which is matched by nothing else. The idea of us being able to talk to people all over the world and feel a connection to strangers is a huge phenomenon and it is something which you should use as a brand. Create fun and engaging tweets for your brand such as pictures for holidays and trends and make sure to spark a conversation with your audience. The more active you are online the better it will be for you and the more followers and conversions you will get as a result. Social media is the best tool you can use so make sure that you do!

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About author
Ryan Kh is a big data and analytic expert, marketing digital products on Amazon's Envato. He is not just passionate about latest buzz and tech stuff but in fact he's totally into it. Follow Ryan’s daily posts on Catalyst For Business.