Online business growth is the term that is used to talk about businesses that have an online presence or which are run solely on online platforms. Businesses, in general, are always driven by the fundamentals of a strong bottom line at the end of the year while progressing as an entity in a constant endeavor to growth avenues. The same holds true for any business that is online and its story of online business growth.
So how do you go about boosting your online business growth? There are many ways to do this yet there are some ground realities that must be realized here. Here are a few facts about the online business growth:
- To a large extent, businesses bet on social media reach to out their targets audience;
- Is as pursued by the B2B segment as the B2C segment; and
- Websites are the only medium via which online business growth can be driven and measured.
So here are the 10 tips that will help you boost your online business growth, reliably and conveniently. Let’s take the first tip off the fact that social media is optimized in a big way by online businesses.
1. Social Media Optimization
May it be a B2B business or a B2C business, social media platforms can boost of everyone being a part of the family. The most popular social media platforms, globally in general, are Facebook, Twitter, LinkedIn, Pinterest, Instagram, Sinaweibo (Chinese) and tumblr to name a few.
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However, all these platforms do not necessarily cater to the same category of the target group, though at times demographics may overlap.
For instance, a B2B service provider whose focus is on lead generation will target organizations and businesses in a serious professional tone.
Hence they will focus on LinkedIn or Tumblr for its business. However, on the other hand, to reach out to prospective employees, who would be young people, the business will target platforms like Facebook and Instagram.
Social media platform optimization to boost online business growth is, therefore, a customized strategy. Each of these platforms are leveraged on as per need.
2. The Right Platform For Your B2B Business
Don’t be surprised when B2B is mentioned in the context of platforms. Not every service or product needs the same platform to reach its target audience. The platforms here refers to website development platforms like WordPress, PHP or HTML.
These platforms host websites for all kinds of business, from small to large in size. Each of these platforms vary in features and cost.
3. GA (Google Analytics) Optimized
Data is God when it comes to planning and formulating strategies for your business. You are well aware of this fact. Hence data producing tools like Google analytics comes handy in boosting your online business growth, given the fact that GA is armed with many data-generating tools.
For instance, Google analytics has features like:
- Traffic reporting;
- Keyword referrals;
- Third-party referrals;
- Conversion rate tracking; and
- Custom dashboards.
One of the unique features of Google Analytics is that it is compatible with other software like Hotjar, which in turn is an authoritative tool that gives detailed information about customer behavior patterns while they browse a particular site.
4. Websites Designing
Here it might be a good idea to understand a little bit about how the backend of a website works. This will help you to decide on what kind of design do you need for your website.
Websites are created either with WordPress, HTML or PHP. The difference is the way designs are created. For instance, WordPress does not need any kind of coding at the back end for a website to be developed. However, HTML and PHP does.
While a business can develop its website using Word press, developing the same using HTML or PHO will need professional help. The latter will ultimately impact the cost.
5. Lead Generation
The aim of lead generation is to identify the prospects that visit your website. Though Hotjar can give you the data on the customer browsing pattern, it will not give you the contact information about the same.
Must Read: Tips for Small Business Growth Strategies
So how do you get some contact information to touch base with the customer at all? After all, it is not necessary that the prospect will come back to visit the website again. Here is where lead generation tactics, employed on the website matter.
These could be CTAs, information forms asking for emails or subscription. Any information like a phone number or a valid email id is a window to generating leads, good for your marketing team to nurture enough for the sales team to follow through.
6. Referral Business or Affiliated Marketing
Trending now, affiliated marketing plays on the win-win psychology of their customers. The organization wins in terms of gaining leads and the referring individuals gain in terms of offers, discount coupons or cashback.
This is leverage on in a big way by payment gateways like Paytm, Google play, messaging platforms like hike, etc.
7. Pay-Per-Click Ads
Pay-per-click ads are one of the ways to enhance the growth of your online business. It is a paid form of advertising, with features like
- Setting customized pricing;
- Target keyword; and
- Audience reach.
So how does pay per click help in boosting your online business growth? The answer lies in the diversion of the paid traffic to your website. Of course, you can choose to show your PPC ads when and where you want to.
8. Social Proof
This term encompasses a deep-rooted psychological base. Take a while to ponder on this. When you see an ad that states that more 94% of people in the world recognize the Coca Cola ad, what does it tell you?
That you should be one of those counted because it would be embarrassing to not know what 94% of the world already knows. This is precisely the psychological plot here.
By quoting statistics, marketers attempt to drive home one sole point: That as a prospect interested in the domain, you must not miss what others in the same domain have gained from or you must be able to benefit from a service like the rest of the customers.
Conclusion
Leveraging on factors that boost online business growth is an aspect that must be experimented on by the marketers to find out what works for them and what is worth investing in.
