*This post may contain affiliate links, which means if you click through and make a purchase I may receive a commission at no cost to you. Please read my disclosure for more info.
It’s easy to run a business online, so they say. But if you want to do it well, it’s everything but easy. In fact, you’re going to face quite a few challenges when you start an online business straight off the bat. You need to be prepared and know how to counter them effectively. Let’s jump right in by looking at the trouble with high levels of competition.
This may sound cliche, but when you start your business, you need to be ready to run as soon as you leave the gate. You’ll need that extra speed to catch up to other businesses already on the market. You might think that you’ll have no problem winning customers over with a unique marketing proposition. It’s great to be positive, but don’t kid yourself. The internet is a massive digital space. Whatever idea you’re ready to promote already exists somewhere online. An ‘original’ idea just isn’t going to cut it here. Unfortunately. You’ve got to be ready to offer a little more. My personal recommendation is starting with PR and free publicity from the start. I offer two PR and Free Publicity courses, that will help you set up an annual press strategy to get press coverage for your business within 3 months. Master the Media is my evergreen course that’s always open for enrollment.
Are you ready to give customers the options they want for purchases? If you’re not, then you might struggle to close the sale down online. If you find yourself getting high numbers of visitors to your site but low sales, then something is stopping the commitment. In some cases, this could be a lack of purchasing options. Be aware that a number of your customers might prefer to make purchases on credit cards that are more protected from fraud. To do this, you might need to set up high-risk credit card processing. With this option, your company will be equipped to handle purchases on credit, even if the finances of your business are unstable.
Is online marketing free? No, but it can be fantastic value for money. If you’re worried about the growing costs of marketing your business online, there is one solution that you need to consider. That’s PPC marketing. Through PPC marketing, you only pay based on how many people visit your site. It’s incredibly useful for keeping the costs in check. But do remember what I said about securing the sale. If you’re not securing the sale, you’re paying massive amounts in marketing with no follow through. Some marketing agencies do offer the possibility of prices based on how many sales the business sees through marketings. It’s a rare option, but it does exist on the market.
I hope you find this information helpful when you setup your business online. Remember, finding success online might seem like an uphill battle, but it will be worth it in the end. I suggest you also read about the REAL costs of running a successful business and blog.