So, you are thinking about starting anE commerce Businessor wondering how to grow a technology-oriented business and are nervous for many different reasons. If you dont know where to put effort and the tips and tricks for a successful business, you will fail, and things will not work your way.
Recent research showsAround 90% of new startups fail. The same happens with e-commerce businesses. 80%- 90% of them fail only 20% of e-commerce businesses succeed
If you are starting your e-commerce business or already have one running, this might scare you.
How To Grow Tech-Oriented E commerce Business And Dominate The Market
Problem with businessmen:
Most businessmen are not able to decide if there is a budget for theTechMarketingof their E commerce Business. To run your business in a smooth and profitable way you need a solid tech, marketing Plan and investment. Lets Assume,
If there is a requirement for ten lakhs in tech building Five lakh for marketing of a particular E commerce business the businessman is only willing to pay just 2 lakh on tech and just 1 lakh on marketing.
That is why they cannot use the full strength of theirtechnology, and (they need to get there) also they dont get to knowthe targetaudiencethey are looking for.
Thats why he will not be able to figure out what is the actual problem, why his business is not generating revenue.
Copy paste Business :
Lets say you have a business that can be copied easily, then there will be two cases:
Case #1
If you have low-quality products and less marketing budget, you will not be able to succeed in the e-commerce market, and you will not attract your potential customers
Case #2
if you have great products with a decent marketing budget, you will be able to compete.
Now if you Succeed in saving your E commerce business from your competitors. You can follow these tips to take your business to the next level
Embrace Social Media and Expand Your Sales
Social networks such as Facebook, Instagram, Twitter, and WhatsApp are the prominent and most famous marketing vehicles nowadays. Marketing on theseChannelshelps you increase your brand awareness and lets people learn more about your E commerce business.
Adopting an effective social media strategy enhances a companys branding and visibility, helping you interact with your audience and offer a direct message or offer and attract customers to your E commerce business.
The first step is to identify online platforms where your potential audiences spend most of their time. The next step is to create a strategy to engage with them according to their interests and offer them valuable and compelling content and interaction they cant get anywhere else.
Adopt New Technologies to Streamline Your E commerce Business
Most private businesses have adopted technology, from creating a website or app to streamline their businesses to another level. It is seen that the world is going online, so to grab the attention of your audiences, you also need to useTechnologiesthat are fast and efficient to use by the customers.
