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3 Key Developments in the Evolution of Online Business

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StrategyDriven Online Marketing and Website Development Article | 3 Key Developments in the Evolution of Online Business

The pace of innovation in business is rapid. Each year, new pieces of tech, applications, or software platforms help to improve how businesses operate and the services they can provide to consumers and clients. As IT processing power continues to improve at an almost exponential pace, businesses can harness this power to modernize their operations and make data-driven decisions with insights that could not be gained from human staff.

These are just two examples of how technology is driving the evolution of business. In this article, the focus is placed on businesses that operate online. In this growing sector of commerce, there have been some key developments in recent times. Read on to learn about three of them, with information on how these advances have helped the creation of new forms of online business or the evolution of existing ones.

1. The Transition to the Cloud

Millions of businesses have made the journey from using locally-held IT services (such as servers and key business applications) to moving them to the cloud. Today, it is estimated that 94% of all companies use cloud computing services as part of their IT infrastructure. This mass adoption of cloud computing has helped to create a growing sector of business for cloud service providers and industry experts who function as consultants and help organizations plan and manage their cloud operations.

One of the key benefits for businesses with cloud-based services is that they can be used to support remote and hybrid models of working. Since the COVID-19 pandemic, these new forms of working have become commonplace in business and remain after the worst effects of the virus seem to have passed. Cloud systems can be accessed from any computer that has internet access and the required login credentials. These applications effectively support remote working and ensure that businesses can achieve high levels of productivity without needing to rely on centralized physical premises.

2. Tech-Led Innovation in Online Casinos

The world of online casinos has enjoyed spectacular growth in the last decade, reaching a total market value of $23 billion in 2021. Today, gamers can enjoy the best casino games simply by logging on to sites from their smartphones at a time and location that suits them. The mass adoption of smartphones has helped to drive the online casino industry, and companies now ensure that sites are designed so that they can be enjoyed on smaller screens. In addition, the rollout of faster internet connections (in the form of fiber optic supplies) has allowed casinos to offer additional services that rely on high bandwidth. Commonly, online casinos now have video chat facilities, live dealer games, and immersive gaming environments that are increasingly hard to differentiate from traditional brick-and-mortar establishments.

3. Drop Shipping as a Low-Cost Entry Point Into E-Commerce

One of the easiest ways to enter the online marketplace is by creating a company that specializes in drop shipping. Put simply, this is a business model whereby the entrepreneur acts as an intermediary between the supplier and the customer. A drop shipping website is created to list the items for sale, and when an order is placed, it is fulfilled by the supplier. Today, the global market for drop shipping is worth close to $250 billion. Drop shipping does not require expensive start-up costs, warehouse facilities, or the need to purchase stock. As such, it provides an easy and effective low-cost method of entry into e-commerce for millions of young entrepreneurs without the need to visit commercial, financial lenders or crowdfund to start the business.

The Importance of UX Design in E-Commerce Websites

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StrategyDriven Online Marketing and Website Development Article, The Importance of UX Design in E-Commerce WebsitesIf you’re thinking about making your e-commerce website’s user experience better, then you’ve come to the right place. In this article, we’ll be exploring the importance of UX design and how you can leverage it to boost your online sales.

A good UI and UX design can increase visitors’ time on your site, increase their trust, and convert them into customers. To help you understand the value of this service, we’ve asked a few reputable UX design agencies for their insights.

User-Friendly Design

A well-designed e-commerce website makes it easy for visitors to find their desired products. This is essential to boosting conversions and building trust and credibility with customers.

If your website is hard to navigate or needs to meet users’ expectations, they’ll leave quickly. This could be a massive loss to your business.

User-friendly design also makes it easier for you to attract new customers and increase your search engine optimization (SEO) ranking. This helps to build brand loyalty and keep your online store competitive.

Another reason you should consider a user-friendly design is that it will make your website more accessible to people with disabilities. An estimated one billion people worldwide have some disability, and they deserve a website that is easy to use.

Convenience

Convenience is a critical factor in customer satisfaction and loyalty. As a result, all brands must ensure their services are convenient and easy to use.

Customers value convenience because it saves them time and effort. With this being said it is we can see why most shoppers will admit convenience influences their purchasing decisions.

The recent growth of online shopping has been fueled by the convenience that allows buyers to shop whenever they want, from wherever they want, and pay however they choose.

While it may seem difficult for retailers to compete with the ease of Internet shopping, it’s essential to understand that convenience is changing how consumers perceive specific buying alternatives. This means e-commerce companies must put consumer convenience at the forefront of their marketing strategies and objectives.

Time-Saving

UX design is a crucial part of a company’s strategy, and it’s not just about creating an aesthetically pleasing experience. It’s also about ensuring that the user can efficiently accomplish their goals.

In the digital age, UX design is more critical than ever before. It’s a discipline that affects everything from the design of an ATM to the pages of your favorite shopping website.

To improve a website’s UX, a UX agency starts with user research and testing. Often, they will interview users to determine their motivations and frustrations. They will then conduct wireframes and skeletal layouts indicating what content each screen will contain as a user navigates through the site.


Convenience for Mobile Users

One of the most critical factors that e-commerce websites must consider is convenience. Whether shopping for groceries or personal care items, consumers are willing to pay more for the convenience of online purchases.

UX design agencies understand the importance of convenience for their client’s brands and products. They help design websites and mobile apps that are both user-friendly and attractive.

A well-designed e-commerce website attracts visitors and converts them into customers. It also provides a good experience for all devices, ensuring users are happy with the overall user experience.

Convenience for All Devices

Consumers expect a seamless experience that transfers between devices as they move further into their shopping journeys. This is important when it comes to e-commerce websites.

Consumers are also willing to pay more for convenience in some product categories, including groceries and clothing. These services could include shipping options, online sizing, and free returns.

As a result, businesses that offer convenience are poised for growth in the e-commerce market. These businesses must have a comprehensive understanding of the customer shopping flow, which involves all of the elements of the user experience that contribute to conversion and sales.

How to Start Your Small Business Online

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StrategyDriven Starting Your Business Article |Start your small business|How to Start Your Small Business OnlineIn this article, we’re going to discuss why you should place your business in the online world, even if you’re just starting up. Also, you’ll find a list below of helpful pointers that are important considerations when readying your business to go online.

Why you should venture into online business

If you prefer to operate a traditional business in brick-and-mortar, there is absolutely nothing wrong with that. But, you’ll be well served to take into account that the world is changing, and people’s buying patterns are changing as well.

With over four billion users as of July 2020, diving into an online business venture is not a bad idea. This might even be your business’ salvation during this ongoing COVID-19 pandemic.

Aside from working remotely, an online business is cost-effective and competitive (based on your marketing strategy). This gives your company, no matter how small, a fighting chance against mammoth industries in your niche.

This is one reason why we recommend starting your online business sooner, rather than later. And here are the five easy steps that you’ll need to do to kick-start your online business:

Five easy steps when starting a small online business

1. Create a business plan

Identify what problem you are solving

Your business is a solution to your potential customers’ problems. But first, you need to define the problem at hand. What problem does your business want to solve? What need do you seek to fulfill?

Take some time to think about whether your skillset solves real-world problems. If it does, check if your competitors offer the same strategies. And if they do, what makes your solutions unique?

This will be your leverage against your competitors. Analyze these factors to see whether your market is thriving or nonexistent.

Manage your startup budget

When you’re starting a small business online, you will need startup capital to cover a range of necessary expenses. For beginners, you need to estimate the budget by having a good guess of your operating expenses.

Pay attention to the expenses that must be covered and make sure they are budgeted. The more cost-effective your startup, the more income you will have to work with.

2. Choose your business structure

When you’re starting your business online, you should define your business structure. You can operate solo (sole proprietorship), or with partners (LLC or corporation).

Sole proprietorship

This is the simplest type of business structure. You can operate this on your own even without filing a lot of paperwork. However, there are risks to this business structure.

Your business won’t have protection from liabilities of debts and business obligations. You will be personally responsible for all of these. That’s why you only choose sole proprietorship when you can handle your business on your own with little need for liability protection.

Limited liability company (LLC)

This business structure allows you to share your business liabilities and obligations with other individuals. If things go south, a LLC protects your personal assets from the liability of business debts.

Through a LLC, you share your liabilities with other individuals. The business is owned by you and these individuals share in profits and liabilities.

Corporation

You’d want to use this business structure if you choose to gain investors for your business. Corporations are like LLCs, but with outside funding possibilities and more personal protection.

In order to interest possible investors in purchasing your stock, you’ll need to arrive at a business arrangement. They will need to trust that your business will deliver. You can close more deals with investors if you know how to write a winning RFP response.

3. Market research and analysis

By the time you write your business plan, you’ve already done your market research. You know what is missing from the puzzle, and how your business can provide this missing piece. But you’ll need to dig deeper in order for your business to succeed.

You need to understand how your target market works. Do market research and analyze their buying patterns, market needs, etc. Know your market’s queries on search engines, what keywords they use, and other competitive advantages that you can use as leverage.

4. Poise yourself as an expert in your field

Contribute to your niche by providing expert ideas and solutions that come from trusted sources. Build your profile in your community. This builds trust between you and your potential consumers.

5. Design and optimize your website

Your website will be your online storefront. This is where you will communicate and exchange products/services online with your consumers. Thus, your website should be customer-friendly in order to give users a good experience. Some tips that you’ll need to keep in mind when designing a website:

  • Keep your website clean and simple
  • Make your website easily navigable
  • Every element on your website should contribute to converting your visitors to sales.

Final word

When you’re starting a small online business, you want to begin with your best foot forward. Get a step ahead of your competitors when you start your online business using these five easy steps!

How to Start Your Online Business?

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StrategyDriven Starting Your Business Article | How to Start Your Online Business?

  1. Have you ever given a thought to these questions?
  2. Why do the majority of people prefer their business?
  3. Can I too have a better standard of living by becoming a businessman?
  4. Does my poverty stand in the way?
  5. Can I become a respectable business owner without any capital?
  6. How is this possible?

These are just some of the questions that come to mind for anyone who wants to start their own business. Is more profitable than a job? But in the end, what are the reasons why you should start your own business? In this article, we have tried to explain not only all the reasons why a person should start their own business but also try to dispel the misconception that a huge amount of capital is required to set up your business. An investment can start your own business but also a successful businessman.

Perks of Owning your Own Business?

  • By becoming a businessman, you can better serve the society. You can help people in many ways and create employment opportunities for them.
  • In your business you can choose the people you want to work with according to your will and choice, while in the job you do not have this option.
  • Many people are more intelligent and intelligent than others and have the ability to lead people in the right direction. And they are well aware of their abilities. So they work under someone. They do not want to waste their skills, so they prefer their business.
  • You can set the pace of work according to your will and convenience. You do not have to wait for anyone’s orders.
  • Your business offers you new opportunities and new challenges. And if you are a person who accepts challenges, then your business is the best for you.

Ideas on How to Start a Business

Try Affiliate Marketing

This business started without any capital is gaining popularity all over the world including Pakistan nowadays. It is the best online source of making profit and this business can be easily run from the comfort of your own home or even in your own room. In this method you promote another company’s product or service through internet or any other similar medium and by selling it you get your fixed commission.

Go Blogging

A blog is a website or web page on which new information and comments are written every day. It is planned by an individual or a group of people together. Blog writing has become an important need of social media. In Pakistan It is in demand in both Urdu and English languages. You could start your own home-based business tomorrow with very little start-up cost.

Earn Being a Consultant

If you have a lot of knowledge, skills and ideas in the field of business and you are thinking of helping new entrants in the field of business in this regard, then you can become a very good business counselor and not just a new business entrepreneur. Can train people but also make a good profit.

Sell Academic Papers             

Another trending way of earning, which is going very popular these days, is through writing academic research papers. If you are good at researching and writing formals. You can earn through it. Or you can hire expert assignment writers for your agency and start the business like fiver or UpWork.

Earn Through Event Management

If you have a degree in event management or if you have excellent skills in planning, designing and arranging things, you can start your own business as a good event organizer. Religious organizations, wedding ceremonies and political parties can make a lot of money through event management.

Sell Writing Services

All companies and organizations need a noticeable written material for promotion which can get the attention of the maximum number of customers. If you have the ability to create such attractive content in English language then you Start a very successful content writing business and provide content to various companies and organizations.

Start Writing E-Book and Sell it

If you are a good writer and know the techniques of e-books, you can make a great profit through eBook writing. It can be a great business especially for women who have this ability.

To sum it up, you can avail your own skills to start a business or utilize others’ skills by managing the entire business plan. Remember that success in any field or business does not depend on your degrees but on your intelligence and hard work.

How Do I Start an Online Business?

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StrategyDriven Starting Your Business Article | How Do I Start an Online Business? | Initial Business PlanningStarting an online business in the present era is no big deal. However, you must not consider it as an effortless job. It would be best if you strategize things perfectly, especially about your resources while planning to open a business online.

Here are the steps you must follow to open a business and handle it on the virtual platform. Sheer dedication and smart efforts can help your business to get online sales easily.

Initial Business Planning

In this step, you must think and sort out the commodities or services you want to sell. Always check the customers’ necessity level in regards to whatever you sell.

You can organize both online and offline surveys and consult a business expert before finally executing it. Make sure you are aware of your competitors and dedicated to serving people better.

Make engaging online content

Right after planning, you must concentrate on making engaging content that spreads information among the masses about your new business. Social media sites could be the best place where you can publish posts regularly.

Your posts should primarily engage people, inform them about your product, and convince them to buy it. You can invest in professional writers to make sure your content converts more and more buyers.

Design a websiteDesign a website

A website acts as your basic tool to manage your business online. Initially, you must design your e-commerce website with simple elements. Make sure it is responsive and user-friendly.

You can link your social media posts with the website to enhance the amount of site traffic. The more you get the traffic, more you can make sales.

The commodities that you deal with should be present in an organized way on your site. End-users must be able to access all the necessary information and the price of every commodity.

Invest in search engine optimization

Once your website is ready, you must invest in SEO. Many professionals can dedicatedly execute both On-Page and Off-Page SEO, which improves the rank of your website on the results page.

search engine optimizationThe best way to get the right SEO company is by searching for quotes online. You must know about the package of services they offer and how you have to cooperate with them.

Communicate with customers to develop a reputation

Excellent communication with your customers can make you a reputed business owner. You should not only respond to the customers via your website but also through your social media handles.

Regularly observe your business profile on social sites to get a glimpse of everything the customers are thinking about you.

Your response to the customers can improve your credibility and you can make a brand-loyal customer base easily. Some brand loyal customers and even take your brand authority and reach out to more potential customers.

Provide Conveniences

Most people opt for online shopping to get extra conveniences that are harder to get in case of traditional shopping. Once your e-commerce website starts to fetch you a profit, try giving amenities like discounts to the customers.

You can also give away electronic gift cards and festive season offers to enhance the rate of sales from your website.

In case you want to clear old stocks, try giving it on flat discounts along with new purchases. These strategies can often help you to stay on a decent lead than your competitors.

Final Words

If you are not sure about opening an online business, consider this to the right period to set up one. In the post-Covid era, online shopping would drastically increase as more people would not visit markets for shopping. You should always try to keep up quality service to enjoy getting satisfactory profits.

About the Author

StrategyDriven Expert Contributor | Bhavik SoniBhavik Soni is a Creative Writer at Auto Monkey. We provide an original analysis of the latest happenings in the social media industry. Connect with Latest Social Media Trends and News plus tips on Twitter, Facebook and other social tools on the web.