FG683 Semana 5 - 2024 - 1

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Course: Competitiveness Module

“Electronic Marketing”
Code: FG683
Week: 5
How to Have a Successful Online
Business
❖ Research and Planning
❖ Understand Who Your Customer Is.
❖ Solve Your Customer’s Problems.
❖ Add an Easy Payment Method.
❖ Use Tech Support.
❖ Protect Your Brand's Online Reputation
❖ Stay On Top of the Latest Trends
❖ Be Persistent
Tips for Starting a Successful Online
Business from Scratch

Find Your Niche: The first step to starting an online business is to identify your
niche. You should choose a niche that you are passionate about, and that has
a large enough market to support your business.
Niche: it is a specialized segment of the market for a particular kind of product or
service.

Do Market Research: Once you have identified your niche, conduct market
research to learn more about your potential customers and competitors. This
will help you understand your target audience and how you can differentiate
your business from others in the market.
Create a Business Plan: A well-thought-out business plan is essential for any successful
online business. It will help you outline your goals, strategies, and financial projections.
Your business plan should include a marketing plan, a budget, and a timeline for
achieving your goals.

Choose the Right Platform: there are many platforms available for starting an online
business, such as Shopify, WordPress, and Squarespace. Choose a platform that is user-
friendly and customizable, and that fits your business needs.

Build a Professional Website: Your website is the face of your online business, so it's
important to create a professional and visually appealing website. Make sure it's easy to
navigate and includes all the necessary information about your business.
Focus on SEO: Search engine optimization (SEO) is the process of optimizing your
website to rank higher in search engine results pages. This is important for driving traffic
to your website and increasing your online visibility. Make sure your website is optimized for
SEO by using relevant keywords, meta tags, and high-quality content.

Use Social Media: Social media is a powerful tool for promoting your online business and
engaging with your customers. Choose the right social media platforms for your business and
create a strong presence on them. Share high-quality content, interact with your followers,
and run targeted ads to reach a wider audience.

Provide Excellent Customer Service: Excellent customer service is crucial for any
successful online business. Respond to customer inquiries promptly, offer personalized
support, and go above and beyond to exceed their expectations.
Offer value to your target audience: make sure that your product does exactly what you
say it does. Don't over-promise or sell functionality your product doesn't have. Next, it's about
value throughout the customer experience. Value isn't just the cost of making your product or
what you ask in exchange for it. It's customer perception, and how you meet those
expectations.

Monitor Your Metrics: It's important to track your website's metrics to see how your
business is performing. Monitor your website traffic, sales, conversion rates, and other key
performance indicators. This will help you identify areas for improvement and optimize your
strategies for better results.
Key performance indicators (KPIs) They are quantifiable measurements used to gauge a
company’s overall long-term performance. They specifically help determine a company’s strategic,
financial, and operational achievements.

Stay Flexible and Adaptable: The online business landscape is constantly changing, so it's
important to stay flexible and adaptable. Be open to new ideas and strategies, and adjust
your approach as needed to stay ahead of the competition
Walmart has been changing the face of retail since our first store opened in 1962.
They’ve continued to pursue ways to bring technology into retail to offer
customers a seamless shopping experience. You can find a ton of items in a
Walmart store, but as customers increasingly shop across digital and physical
storefronts.

The largest website, Walmart.com, sees up to 100 million unique visitors a month,
according to comScore, and is growing every year. In 2016, Walmart acquired
Jet.com and began expanding its portfolio of e-commerce sites. Walmart
continues to acquire additional specialty e-tailers and digital brands.
Amazon is an American technology company founded in 1994 by Jeff Bezos. The
company initially started as an online marketplace for books. However, Amazon
has grown to become the world’s largest retail chain.

Amazon, in addition to being the world’s largest retailer, is also the world’s largest
internet firm, with interests in cloud computing, digital entertainment, and live-
streaming.

Apart from being a B2C (business-to-consumer) marketplace, Amazon is also a


B2B (business-to-business) marketplace through Amazon Business. Amazon
Business gives sellers the opportunity to reach B2B customers with pricing, and
the features of Amazon Business are designed for businesses of all sizes.
eBay is an American eCommerce company that was established in 1995.
They are the world’s leading consumer-to-consumer marketplace as well as
one of the world’s leaders in business-to-consumer retail.

eBay delivers to about 190 countries and territories around the world. They
also have about 138 million buyers around the world.

Buyers don’t need to pay any transaction fees on eBay. However, it is quite
different for sellers as they have to pay for listing items on the eCommerce
platform.
The Home Depot grew to become the sixth largest e-commerce site in the
world, offering more than one million products, while helping the company
achieve $108.2 billion dollars in annual revenue.

As e-commerce expanded, The Home Depot realized that it needed to create


a unified customer experience online and in shops. It needed to help
customers quickly find the right information and the right product, whether
they’re browsing on an iPhone or cruising down the aisles of their local store.
Alibaba is a global wholesale e-commerce marketplace that primarily operates
in Asia, but its international presence is rapidly growing. Many consider this e-
commerce company China's equivalent of Amazon.

Alibaba.com was launched in 1999, and it has grown to become one of the
world’s leading B2B marketplaces. Buyers are located in over 190 countries
and territories, and sellers are located in over 200 countries.

Alibaba offers millions of products from over 40 product categories.

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