For the last couple of years, a lot of people have lost their jobs, and have not necessarily been able to find another job. So, a lot of people have been forced to take a look at what’s called the e-business, or “how to start an online business?”, even though we are in a bad economy.
The first thing, is that there is a choice to make : what type of business is the best ? And more importantly, how to do it ?
Apparently, Internet start-ups are pretty inexpensive, and can allow to those who do not want to invest huge amounts of money in a business that they are uncertain about, to take the least amount of risks, especially since they just have lost their job.
Before discussing starting a commerce site, I want to digress and talk about affiliate marketing before discussing a straight commerce site where you sell goods.
Affiliate marketing is a type of performance-based marketing model where the business pays the owner of the affiliate site for each visitor or customer brought to the business via the affiliate site’s own marketing efforts. Affiliate marketing relies purely on financial motivations to drive sales. For instance, online casino portals such as online-casino-party.co
directs players to certain casino websites. If a player converts: signs up, downloads the software to play the various games, deposits money into their player account, and plays, the owner of the casino portal is credited with a commission. The commission is based on a percentage of the player’s net losses. The amount of money the affiliate casino portal can earn is dependent upon how much time and effort is necessary to transform the website into a powerful money-making machine. It doesn’t cost money to join Affiliate Programs, but building a powerful website the shows up high in the search takes some skill.
Now some of the reasoning behind having a commerce web site to sell products is that even if people are losing their job, online shopping is constantly growing. So, it looks like a pretty lucrative business. And apparently, instead of paying gas, which prices have grown and grown in the last few years, to go to the mall, people like to go and shop online. The other reason why people go less often to the mall, and buy online instead, is that with a little image on a screen, it’s pretty difficult to buy. As a result, 42 % of people shop less.
Online business might be the solution for some of us who can effectively work from home, which is not everybody’s case.
The very first thing is to select a category, or a specialty. This is to avoid being too diversified and loose focus. Also, when you have a very specific specialty, it’s easier to run the business, and to give a better customer service, like, for example, an easy way to return products.
The second but still important thing is to find innovative marketing technologies, like for example, being on a good website’s referral program. In this case, your small business could be referred to as a good company to make business with. And every customer who would use this referral system would be rewarded by a good discount. This is a nice way to build a customer base.
Last but not least, prices have to be honest and reasonable. And this is going to make a big difference, since we already know that people are struggling due to this bad economy.