Big players in the online business market like ‘Amazon’, ‘Facebook’ and ‘Paytm’ among others, also started off as small business ideas but now they generate a revenue worth 3.29 billion USD, 13.73 billion USD and 0.15 billion USD, respectively.
When it comes to expansion of an online business, it may seem like an achievable task but it’s not that easier to keep going at an increasing pace. It requires a blend of hard work and smart planning to make the business grow at an increasing rate.
Big players in the online business like ‘Amazon’, ‘Facebook’ and ‘Paytm’ among others, also started off as small business ideas but now they generate a revenue worth 3.29 billion USD, 13.73 billion USD and 0.15 billion USD, respectively.
Here are five tips on how to make an online business grow at an increasing rate.
Improve Your Homepage
The homepage of the website plays an important part in crafting your business revenue model. Studies reveal that 96% of the visitors aren’t ready to buy something. The homepage serves as a landing page for the customers, so it must be compelling enough for your customers so that they don’t leave your site without purchasing.
A well organized homepage which is easy to navigate, does not hang, carries out payment facilities smoothly and is easy to use, can bring a lot of difference to your business. It not only adds to the customer base, but it also makes your website engaging, hence high revenue can be generated.
Make Your Content Compelling
In the world of online marketing, content is considered to be the king. The content plays a big role in the success of your online business. As per the reports, content marketing is considered beneficial in creating brand awareness (70%), engaging potential audience (65%), customer retention (58%) and lead generation (43%). Generating a compelling content for your website can be very lucrative in growing the business.
Investing in Staff and Culture
When starting off with a small business, many of the entrepreneurs opt to build a small team with closed people rather than hiring suitable employees. Many of them try to carry out everything single-handedly. But investing in the recruitment of right people to expand the vision of the business is of vital importance. A devotion from a dedicated team who has the potential to take your business to heights, is proved to be a crucial investment.
Annual Strategic Planning
Strategic planning is essential at every level of business, be it a small scale business, a medium or a large one. Strategic planning requires an intensive approach on every single detail of the business. For instance, identifying the vision, analyzing the past results, and strategically applying all the tactics on the business, are some of the key points to be taken into consideration while planning the annual strategy of marketing.
Take calculative risks
Before considering anything that you think could be risky for the business, make sure that you can bear the loss if anything goes wrong. After all, to grow a business one has to push the boundaries and take risks in the business for profit in long run. Remember; be calculative about everything that seems like an opportunity. If not analyzed critically, an opportunity might become a threat.