Online Business- There are many ways to achieve financial freedom, one of which is by opening an online shop business from home. However, there are several ways to start an online business that must be understood first so that your business can run smoothly.
Running an online business is actually difficult because many competitors also have similar businesses. However, don’t be discouraged, because OCBC NISP has prepared a way to do online business from scratch for beginners, which is easy and can generate money. Plus, these tips don’t require a lot of capital, you know. Check it out!
9 Ways to Start an Online Business from Scratch
Actually there is no absolute online businesses guide. Sometimes the way to do business online is different from one another. But as a beginner, you can follow the online business guide from OCBC NISP. Check out how to start an online business from scratch below. To know more about accessories jewelry you can visit this site karendiamonddesigns
Find Out What the Market Needs
First, how to start an online business from scratch is to find out what the market needs. This is done so that you are able to win the market. Products/services needed by the community make your business grow. Because the market feels helped by your business.
So look for the problems that the market is facing. Then you determine the best solution to solve their problem by setting up a business. Because the concept of consumers thinking that they can solve the problems. So make sure the business you set up is a solution to market problems.
Run Market Research
After finding out what the market needs, the next way to start an online business is to do market research. By conducting market research to find out market demand or data objectively. Thus, you can use this information as your consideration in making decisions.
You can start market research by looking for products/services that are trending in the community through social media. Next, you can match that information with data on the internet.
To make it easier, use Google Trends to view statistical data from the trending product/service. Because usually statistical data in Google Trends shows how often users search for these keywords in search engines.
Choose Products to Sell Online
After doing in-depth market research, the next way to start an online business is to choose any product for you to market through internet channels. Before deciding on a product to sell, it’s a good idea to first balance this choice with the various opportunities and risks.
For example, you decide to open a courier service (jastip). The advantage of jastip is that you have the opportunity to sell products with a small number of local competitors. However, the weakness is that the jastip seller usually needs to understand the mechanics of international purchases, not to mention the risk of fraud by foreign agents
Define Target Consumers
If you have determined the type of product that is sold online, then how to start an online business is no less important is to determine the target consumer. Analyze and calculate what kind of market is suitable for your product. Make a specific target consumer.
You can also consider aspects of gender, economic level, age, region of residence, and so on. The more detailed and narrow your target market is, the easier it is for you to target them.
Apply Competitor Research
If the type of product and target market have been determined, you can start doing business! However, at this stage the way to do business online that you cannot miss is competitor research. It is necessary to study the strengths and weaknesses of your competitors. So that the information can be applied and improved better in your business.
You can take advantage of several ways to analyze competitors. Starting from looking at competitor websites, social media, reviewing consumer products, to testing competitors’ products directly.
After you get some important information about competitors, the next way to start an online business is to conclude the position or image of the competitor. Thus, you can set a strategy to make your business brand above competitors.
Choose a Business Model
Choosing a business model is a way to start an online business from scratch. For example, you want to open an online shop business but don’t have the money to stock up on goods. If this is the case, the way to run an online shop without capital is to choose a dropshipping/reselling business model.
After determining the business model and marketing media, you can carry out the promotion process. There are so many methods of promotion in business that can be done either paid or free. Starting from organic strategies, SEM, SEO, to Social Media Ads.
If your product is marketed through a website, then SEO, SEM, Google My Business, to Google Ads strategies can be optimized. However, if your product is only promoted through social media, you can maximize promotional content, use copywriting, Ads ads to other strategies such as giveaways, paid promote, and so on.
Keep Loyal Customers
When your promotion is successful in winning consumers, the way to start an online business is worth paying attention to is to retain loyal customers. Besides constantly looking for new customers, you also have to take care of loyal customers in order to survive and stay satisfied.
There are many ways to improve your business relationship with customers. Several ways to do business online to maintain