Online business is getting increasingly competitive; the market has become saturated due to low barriers to entry and increases in technology around the world. This isn’t to say that you shouldn’t start your online business, it just means you’ll have to be creative to make it work. If you want your online business to grow its market share it is increasingly important that you differentiate yourself from your competitors. This article will give a brief overview of some techniques you can use to make your online business stand out from the crowd.
Choose Your Niche
You don’t want to invest in an oversaturated market. Doing so will end up costing you too much money to gain market share in the niche. You need to find a product or service that is outside of currently overworked areas. For example, if you’re planning on running a news aggregation site, consider looking outside of the United States. The USA is currently saturated with online news sites and blogs, but many other Western countries don’t have the same trends. Perhaps look into a political movement somewhere in Europe and tailor a website that provides analysis from their prospective. You need to be one of the first entrants into a market if you want to capitalize on it.
Research shows that modern consumers suffer from a phenomena known as advertising fatigue —they no longer respond to traditional advertising methods. For this reason, you’ll have to get creative if you want your company to be a niche leader. There are a number of creative ways you can market your brand. Employ brand ambassadors on social media, target specific subgroups on Facebook, or launch a giveaway through all of your outreach platforms. Companies like From A Birdie will allow customers to customize materials, this personal touch option could be used to market your firm or product more effectively.You need to make sure that potential customers know that they’re valued. In addition, you’ll want to make sure that you appear to be an authority figure in your niche —no one wants to buy something from someone they can’t trust. Make sure to provide content that establishes your knowledge in the industry!
Increase Your Page Speed
This sounds like a boring subject but it can have a drastic impact on your website’s viability. Modern day consumers are increasingly impatient, which means if your page is slow to load there is a high chance your bounce rate will increase significantly. In fact, it’s estimated that most of your websites visitors will bounce if it takes more than three seconds for your homepage to load. This doesn’t sound like a lot of time, and that’s because it isn’t! If you want to be a step ahead of your competitors you’ll want to ensure that your loading time is much lower than theirs. This will also have an impact on where your page lands on a Google search, the quicker Google is able to access your site’s content, the more likely it is to appear higher in search results. Make sure you use a dedicated hosting service and tools that minify your code to reduce unnecessary HTTP requests. There are plenty of online tools that can help you track your page speed performance.
The biggest you mistake you can make in business is delaying innovation. Don’t wait to start getting creative with your business ideas —your competitors surely won’t. Start researching niches and other creative marketing techniques you can use to stand out from the crowd. If you don’t capitalize on your idea now, chances are someone else will beat you to it!