Starting a business in the digital age
Today, the world is far more digital than it was many years ago. Technology has made it so that the internet, phones and other gadgets are a part of our daily lives. Not only do they provide entertainment, but in many ways, they add value. Technology essentially makes day to day living easier in the simplest ways and also helps people cut across borders. In light of this, it can be said that there’s no better time than the digital age to launch a business. If you’re thinking of starting some type of online business, then here are a few you could try.
Know Your Audience
It is more important now than ever to have in-depth knowledge about who your audience is. Seeing as the digital space is so competitive, knowing your audience will help you focus your efforts on a specific market instead of throwing a net and hoping to catch fish. This can help you save time, money and resources which is vital for every business.
Here are a few ways that you can get to know your audience.
Use Info from Competitors: Your competitors can serve as a well of knowledge, so study them well. Especially focus on what they’re doing right and what seems to be generating a response from their audience.
Conduct Surveys: Conducting surveys is another clever and useful way to gather information about your audience. Depending on your budget, you may not be able to do a huge sample size, but you can at least do enough to scratch the surface. Use platforms like Survey Monkey to share the survey and get feedback.
Use Exiting Research: There are so many reports, surveys and data out there that will tell you about your target customers and their buying habits. Take the time out to soak in this information and make sense of it. You should also note that demographics will tell you who is buying, while psychographics tells you why they buy.
Choose Your Terrain
People have seen success in different ways when it comes to digital businesses. While some have been able to attain it by simply marketing products on Instagram, others have embraced drop shipping by using e-commerce platforms like Oberlo. This can be used to help you sell products without having to buy stock and worry about shipping. In case you’re wondering what to dropship, you could stick with a product that you’re comfortable marketing and has a high demand. Ultimately, the bottom line is you choose your terrain based on your capabilities and where your audience is.
Another major tip for starting a business in the digital age is embracing technology. Not doing so could mean being stuck in the past which isn’t beneficial to any business. To move forward and stay steps ahead of your competitors, see what the latest technology is and which are best suited to enhance your business activities. A few that you should try are listed below.
Accounting Software: As a new or small business, your books are one of the most important things. You should, therefore, invest in the right accounting software to help you stay organized and ensure you’re on top of your finances. A good one that helps track your expenses is FreshBooks as it has a single dashboard to manage finances and accounting.
Communication Tools: Seeing as you’ll likely be working remotely, you’re going to need a range of communication tools so that you can liaise with your team. Skype Business and Slack are just a few great examples of tools you can use for this. There is also BlueJeans which is cloud-based video communication that enables people to join video conferences using a web browser, mobile, or desktop.
Automation: To save and make the most of your time, try using automation tools. This should ensure your employees’ days are well spent and they aren’t being distracted by repetitive and unimaginative tasks daily.