After six months of online business operation, it is recommended to conduct an ABCXYZ analysis. This is a study of the current customer base based on the volume and regularity of purchases. Based on its results, you will receive nine categories of buyers, and at least four of them are the target audience of the product being sold. To set up more precise targeting, it is necessary to study the characteristics of the customers included in these four categories.
Using tools to develop your online business
Collect likes and positive reviews on social networks. This approach is more effective and cheaper than expensive advertising.
Conduct competitions for the best avalanche-like dissemination of information about a product, with the winner receiving a valuable prize.
Use retargeting technology to business owner database remind a customer who has previously purchased the advertised product or visited an online store about products that interest them.
Place targeted advertising based on territorial features through specialized mobile applications.
Organization of online business logistics
The logistics strategy for running an online business is developed before its launch. The practical logistics that need to be formed and implemented for the successful running of the project depends on the type of your activity.
You need to study some logistics parameters thoroughly and carefully:
Manufacturing. If your online business is about selling specific products, you need to organize the manufacturing process. As the company grows and production scales, you need to expand and increase the number of products produced.
Delivery. It is necessary to make a reliable and practically feasible decision on the method of delivery of manufactured goods to customers.
Packaging: May require interaction with companies that produce branded packaging.
Digital platforms. To effectively manage an online business, you need to decide on the digital platforms that will be used in your work. There are many resources (for example, a training platform for posting an online course or an e-commerce platform for selling goods, etc.). The result of the work will depend on the choice of a digital platform.
Payment Processing: You need a clear, secure and reliable payment method to make purchases, so before starting an online business, you need to determine a simple and convenient way to process transactions.
Download a useful document on the topic:
Checklist: How to Achieve Your Goals in Negotiations with Clients
Ways to Promote Online Business
Now you have everything you need to enter the market and promote your online business: your product (service), logistics, legal support and branding. There are a number of ways that will ensure communication with the buying audience and the promotion of your Internet project.
Advertising mailing
One of the best technologies for keeping in touch with your customers is email. Most people check it regularly. Sending information about your online business to email is a good way to increase awareness and create a basis for close cooperation. The result of using such technology should be sales development.
To collect and analyze visitors' emails, insert a pop-up window on your website. Then, engage in correspondence with these potential customers to build a relationship. You can send a welcome email to the subscriber introducing your business. A few days later, send information and descriptions of the best-selling products, and then, for example, an offer to purchase your product at a significant discount.
To drive sales within your online project and to constantly study potential customers, add as many contacts as possible to your email list.