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10 steps on how to start an online business

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7 Min 10 steps on how to start an online business Written By Erick Kung’u Date 09 Feb 2023 Facebook native.wav3 Instagram native.wav3 LinkedIn native-wave Date 20 Apr 2023 Facebook native.wav3 Instagram native.wav3 LinkedIn native-wave Starting an online business in 2022 is easier than ever. Anyone can create one regardless of their entrepreneurship skills or background. But starting and maintaining an online business is still a lot of work even with a low entry bar. you must first look for a viable product or service to sell, then the technicalities of coming up with a sales plan, a manufacturing source, and how your customers will get a hold of the product.But even with some challenges, starting an online business is worth it. REASONS TO START AN ONLINE BUSINESS Online businesses have a lot of advantages and if you were wondering whether to start an online business or not, here are four major reasons to start one. It is extremely inexpensive A lot of successful online businesses have started with nothing but a smartphone, a few products, and a free website hosting service. You can start an online business with less than Kshs 5000 since you forego the price of rent, a large starting stock, and employees.So if you are just starting out your entrepreneurial career and you don’t want to risk all your life savings, starting an online business is the smart move. The business can run 24/7 With an online business, you are not bound by your salary, you can choose the hours you want to work, and the success of your business is not dependent on the hours you work but instead on your productivity. This is perfect for people who have a job already and are looking for another source of income since they can run their businesses even after hours.The freedom to work on your own time, allows you to be able to focus on other things like your family and friends and also even be able to focus on other forms of income. You can work from anywhere Online businesses are not tied to any location or physical shop. This allows you to travel and work at the same time. As long as you have your phone or laptop and a stable internet connection your business will run smoothly even when you are not necessarily available. Major growth and potential The sky is the limit when it comes to online businesses since you are not bound to a location your reach is endless, and you can sell your products to a consumer who does not live in your area. When you focucomess on your customer reach and building your website you can grow your business exponentially.   HOW TO START AN ONLINE BUSINESS After identifying the reasons why starting an online business will always be a good idea, let’s now dive into how to start and maintain an online business. Identify your product. There are three types of e-commerce products one can sell online each with its advantages and disadvantages.ServicesAlmost any service can be sold online, from recently you can consult a doctor online without having to go to the hospital. Services have a higher demand but since it’s a business that will be heavily reliant on your time your earning potential is limited.Digital GoodsThese are products that clients can download on their devices. They include audio books, online courses, audio courses, etcPhysical goodsAs the name suggests these are tangible goods that are manufactured,stored, and shipped to customers. There are a lot of tangible goods to choosefrom, some more profitable than others. Find your niche A business niche is your market or your target audience. This can consist of which gender you want to cater to, their financial status, and geographic location. Identifying these things helps you market your product following your client’s needs. This also helps you identify if your business is viable or not, since having a product that your target audience doesn’t need or can’t afford only makes the process of having an online business even harder. Identify your competitors To make your launch into the online business world, you must analyze what your competitors are doing and use it as a blueprint of some sort to steer your business in the right direction. Learn online business laws Online businesses may assume that traditional business laws do not apply to them, but this is far from true. Even though online businesses require fewer licenses there are some legal technicalities you have to sort out. Source products to sell A business’s identity is reliant on its products one you have settled on the typeof e-commerce product you want to sell, you now have the task of findingmanufacturers and suppliers of your chosen product. You can choose between makingyour products, or finding an online supplier from sites like alibaba.com. Evaluate your product viability No matter how cool, innovative, or unique you think your product is, what matters is the viability of the product from a business standpoint. It is best to evaluate your products before making a large order. And to do so you must ask yourself these three questions ;Is there any other online business selling the product?Is the demand for the product sustainable or is it temporary?What is the profit margin?  Define your brand image and identity. Your brand is the overall essence of your business, you want your business name,website, and logo to be consistent with the same color palette, visual ideas, and imagesThis presents a more professional and put-together lookSo as your work on your brand image and identity, you should focus on the following ;LogoColor schemePage layoutsTypographyGraphics and photos Build your online store The shopping experience is one of the most important factors that make or break anOnline store, the easier and more accessible it is, the more likely for customers to comeback. To create the ideal shopping experience for your customers, you can check outSome e-commerce platforms like Jiji, Jumia, etc Marketing Once you have already set

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Digital Marketing Trends To Watch Out For

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5 Min Digital Marketing Trends To Watch Out For Written By Erick Kung’u Date 03 Nov 2022 Facebook native.wav3 Instagram native.wav3 LinkedIn native-wave Date 20 Apr 2023 Facebook native.wav3 Instagram native.wav3 LinkedIn native-wave Digital Marketing Trends To Watch Out For Time has flown by this year with so many changes happening, it’s normal to overlook the shifts happening in different areas of our lives. Nonetheless, change is here, especially in digital marketing. Augmented reality, 3D advertising, storytelling, short-form videos, email marketing, social commerce, and unique offers are on the rise, while discounts and third-party data are about to disappear. Would you be able to tell me what digital marketing trends your business should continue to follow and what it should cut out? Social Commerce.Nowadays, Instagram is more of a shopping site than a content consumption site for me. As a result of online shopping becoming so ingrained in my life, I may need someone to supervise my spending. Over the next few years, more businesses will have an online presence, reducing the time between discovery and conversion. Therefore, invest in live-stream commerce on your most engaging social platform.  Adding Shortform Videos.Ever found yourself hooked on either Instagram Reels or TikTok videos when you are on your 10-minute break from work or studying? The storytelling and videography aspects are what gets us hooked. Take the recent collab between Joy Kendi and Frank Itom(Content creator). First of all, the transitions were on point, the music was sick! and the outfits desirable. It’s the perfect example of how to use a short video to market. So check out both of them for inspiration. Augmented reality & 3D advertising.Have you come across short clips of 3D billboard ads on either Instagram or Facebook? Over the last 3 years, companies are using 3D digital billboards to advertise their products for a more immersive experience. Japan has the most surreal billboards. Like in March when Nike unveiled a tribute ahead of Airmax Day for sneakerheads. Check it out here to get a better idea of how beautiful 3D advertising is. I realize it will take time for Kenya to reach that level, but if you shift your focus, this could be a lucrative opportunity for investors, considering how many companies would require this type of content. What’s the harm in having the first-time advantage? Influencer Marketing.As a result of the lockdown during the pandemic, influencers have risen like phoenixes. We now get more dance challenges on Tiktok for new songs, discount codes, relationship shenanigans, lifestyle vlogs, educational content, and let’s not forget funny memes to get us by long, bad days. A good reference is a collab between Joy Kendi and Showmax Kenya. You can tell I’m a fan of hers, but logically speaking, she is good at what she does, which makes her an interesting case study. Anyway, her ad about binge-watching using ShowMax is very relatable. When was the last time you stayed up all night watching your favorite series? Unique Offers.Discounts are a great way to attract customers, however not a great long-term strategy to retain them and also for your bank account. Businesses have found unique offers such as free shipping and in-store experiences rack up more brand value compared to discounts. For example, Glowsecret offers free consultations online and in-store on skincare coupled with end-of-month sales. TIP: Think about your unique selling point. How you can use it to show brand value as well as increase conversions? True Membership Program.Spotify’s premium package falls under this tactic. They got the student, individual, and family package to suit any age group looking for a good music platform. The triggers that motivate people to opt into the premium are the ads, no offline listening, and the limited number of skips that are in the free package. No one wants their playlist interrupted by ads. It just disrupts your jamming session, right? Sustainability.As consumers become more environmentally conscious, businesses have to rethink and strategize their products to meet the new demands. Start thinking about switching to biodegradable, recyclable, and compostable options. It’s a win-win situation as you make a significant humanitarian effort and improve your brand and reach.  TIP:  Think about your brand package material, environmental causes you can support, and the delivery system. Gender Neutrality.People have changed and will continue changing so it makes sense to make marketing gender-neutral so as not to alienate any customers. More brands will continue to shy away from the traditional concept of gender roles to authentically reflect a range of different backgrounds in their marketing. So, what type of inclusivity can you offer? Summary.Pair social commerce with unique offers or storytelling with influencer marketing to improve your brand. Pair any of the 8 trends, and let me know what changes you spotted. Last but not least, remember that the future is filled with endless possibilities. Practice, test, and implement each trend listed above. In the end, luck is the result of your practice meeting opportunity. By Grace Mwarania. Read More Understanding Google Analytics: How to Use Data to Improve Your Campaigns 5 Min Understanding Google Analytics: How to Use Data to Improve Your Campaigns Written By Erick Kung’u Date 20 Apr… The Ethics of Using AI in Marketing: Balancing Business Goals with Consumer Privacy 5 Min The Ethics of Using AI in Marketing: Balancing Business Goals with Consumer Privacy Written By Erick Kung’u Date… The Future of Content Creation: How Natural Language Generation is Revolutionizing Marketing. 7 Min The Future of Content Creation: How Natural Language Generation is Revolutionizing Marketing. Written By Erick Kung’u Date 13… Optimizing SEO with AI: The Future of Search Engine Marketing 7 Min Optimizing SEO with AI: The Future of Search Engine Marketing Written By Erick Kung’u Date 10 Apr 2023…

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