HOW TO SETUP AN ONLINE BUSINESS AND IMPORTANCE OF MARKETING

Marketing is a heart of Business

 We cannot think about business in the absence of marketing, Healthier marketing strategy is a guaranty of business success. It is very much true that we cannot reach to our desire goal in the business without marketing, good marketing tips and strategy is a key of getting business successful. It also helps to know about customer behavior and their needs, So that we can transform our product & services according to them to make more sales. We’ve selected what we believe to be the five key benefits marketing brings to your business and how it has the power to help you build the business empire you desire.

 

 

Helps in Brand building :- Good marketing help you to put your product & services at the front of every customer’s mind and make you the first option to turn when in need of a specific product search.

 

Sales Boosting :-  Once you have become visible to your audience your company will be the name on their lips and word of your quality services will spread as a result your sales and fame will be increased but it is only happen with the help of marketing.

 

Customer Retention:- Once your brand has built a solid foundation and made its name, marketing will enable to retain customer and create a solid followership of loyal customer.

 

Reputation enhancement:- when you get success in your business it is heavily rely on your trustworthy reputation, your marketing build recognition, reputation of the business.

 

Time saving:- By promoting your product or service through marketing, your business will boost its sales and reach your target audience considerably faster. Effective marketing helps you to get discovered by your audience and engage with them.

 

 

Online businesses:- There are lots of way to earn money online, but there are most reliable popular online business models are:

 

Online Store :- Online store is a most popular form of online business. The person can sell their product and services  directly to the customer via debit or credit card or using payment gateway like PayPalRupay etc. and can deliver their product through them without renting or buying local store.

Online Advertising :- Online advertising is one of kind very famous or popular form of making money the advertiser will pay to place their advertise on the website just like a traditional media newspaper, magazine etc. Ads will automatically display based on the interest of your sites visitors known as web traffic. That model best work with websites that freely provide information, entertainment, or opinion such as online magazines or blogs. The aim is to attract as many visitors as possible in order to make money online.

 

Online subscription:-  The subscription business model  is a business model  where  a customer must pay an subscription price to have access  to product or services, this model is used by websites offering entertainment, or specific service. User can change its subscription fee monthly or annual. Example of online business include NetflixeHarmonyTimes newspaper.

 

Online brokerage business:-A broker brings seller or buyer together and usually takes a free or commission on successful  transaction same a broker website works as a virtual middlemen or marketplace to bring seller or buyer on same platform to make transactions and facilitates to earn money. Well – known broker websites are flipKart,AmazonshopcluesGumtreeeBay. The new online business can use these platform to sell their product quickly and earn money.

 

Come Up with an Idea, name & Business plan:-To start any business, the first step in starting an online business is to decide a business name and creating a business plan is most important aspects. The target audience and  objectives should be very much clear to the business point of view that helps to running business quickly.

 

The successful businessmen start their business identifying customer’s need rather than focusing on product. Finding need of a customer has a good chance to your product or services that people likes. Do some research online to find out the searching behavior of the customer what customer searching for or how many other online businesses are fulfilling their needs.

 

Using social media is also an important act to increase its customer base and reach out to the potential customers, take feedback/advice on the idea. Be aware that this is not a robust search but simple question it could be an eye opener.

 

Take an active watch on a trends in your industry attend relevant events, speak to entrepreneurs/startups to seek advice.

 

You can also use SurveyMonkey or similar survey software, which can be used to target specific audience type, you can set the size or scope of questioning, but beware don’t ask irrelevant or ambiguous question.

 

Check potential competitor websites and look what they are offering and how they sell their product online and what they charge.

 

Unique offering of product or services will help make your business stand out from all the rest online.

 

 

Choosing a name:- You also need to choose a name of business means registered a business domain name of your websites. The name should be short and easy for customers to remember, be available a domain address for your websites and not be too similar to the name of other company.

 

Register your online business domain name:-Having your own domain means that you have registered the name with an accredited entity. Businesses often use the name of their company as their domain name because it is easy to remember for people searching on the internet. The name of your domain name should be close to business name otherwise customer fail to search your                                                                               website on internet.

 

The domain name can be searched on web-hosting company such as 123 RegGo-daddyNominet, if the name is already taken the domain register website will suggest variants, avoid offensive/sensitive names.

 

Hosting your business on the web:-  The web hosting company  stores your website on its computer server and available on the web for other to see. There are many free services are available but if you serious about running your online business it best way to pay for web hosting that offers you all features and benefits which you want for business growth.

 

Creation of website :-The attractive and functional websites can be created by yours without spending money on hosting by free platforms such as WordPressMagento, or Shopify. Instead of it free theme is also available on the websites or you can pay for premium theme that offers more features better results.

 

Tips of your first websites :- when you plan your first website, concentrate on important elements, for example for online store, you need a vital streamline buying process, up to date stock information and fast delivery of key importance to customer, use one or two fonts and if possible limit them to one colour, A simple menu that containing your home page, contact, and history if possible include ‘contact us’ box so that visitor make quick inquiries and signed up to a mailing list.

 

Online store will need to have a shopping cart function and secure payment facility to collect payment. Paypal is popular but most of shopper want to pay via credit/debit card. Alternatively most of the small online businesses prefer to use a payment gateway to handle day to day transaction of credit cards. There are lots of affordable e-commerce systems available that can be bought. Update website regularly and optimize your websites for search engine to allow customers to find your website more easily. Wide range of optimizing tools for beginners available download free SEOtoolkit for start-up business.

 

Online Business Regulations:- As you know that all the businesses online or offline are binding up with certain law or regulations when selling goods and services.

 

These include :-

 

The consumer Right Act 2015

The sales of goods Act 1979

The supply of goods & services Act 1982

 

The Consumer Contract Regulation: – This refer to numerous legal responsibilities that seller must provide about a business :-

 

 

  • Information about the seller (business address and contact details)

 

  • An accurate description of goods and services including description of your goods or services and prices including VAT

 

  • Payment details

 

  • Delivery costs and arrangements, and exchange details

 

  • Refund policy, privacy policy, and terms and conditions

 

  • Cancellation rights and relevant time limits

 

  • Costs of returning an item

 

The Data Protection Act 1998: An act designed to protect personal data stored on computers and laptops etc, into an organised system where it is safe.

 

The Electronic Commerce Regulations2002: These establish legal rules that online retailers must comply with when dealing with consumers. Retailers must provide information when conducting business via electronic means, such as:

 

  • Technical steps of placing an order
  • Terms and conditions under which a contract is made
  • Prices must be clear and state if tax is included
  • The company’s registration number and location of registration
  • The name of the service provider, email address and geographic address

 You can find more information on the www.mca.gov.in  about the types of regulations that affect online businesses operating in the India.

 

 

 Register your online business with Governing bodies

As we know that starting any business whether it is online or offline it is mandatory to register it with related government bodies, it’s essential you register your new online business with Ministry of corporate affairs Revenue & Customs to ensure you’re paying the correct amount of tax and National Insurance. You can choose to register as a sole trader or as a business partnership if working with someone else. Alternatively, you can set up a limited company. Each has different legal and tax responsibilities.

 

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