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Title : These Important Factors Determine Your Online Business Success
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These Important Factors Determine Your Online Business Success
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Online business market share in Indonesia is indeed tempting. Data Hootsuite we are social in January 2019 it showed that there were at least 107 million people in Indonesia purchasing consumer goods through e-commerce with a total annual transaction value of more than 9.5 billion US Dollars, or the equivalent of 133 Trillion Rupiahs. Seeing the huge potential of the online market, not a few conventional business people (offline) who are interested in entering the online market. In the transfer, many succeeded, but not a few also ended up failing.
Also read: 7 Tips to Increase the Effectiveness of Your Online Shop
Ryan Gondokusumo, Sribu's Founder and CEO, said "As a company startup which is engaged in providing content solutions and digital marketing solutions based on crowdsourcing, currently Sribu has helped more than 30,000 small to large scale businesses who want to develop online businesses. And we see that the biggest obstacle that often occurs when clients come to consult about online business is the lack of management planning to start an online business and the readiness of human resources to carry out effective digital marketing strategies. "
As for some important factors that need to be understood by business people to be able to successfully penetrate online businesses are:
- Do Market Research First
Make sure in advance whether the products or services offered are sought after by your target consumers through online channels, whether there are quite a lot of competition with similar competitors and how are your chances of winning the competition on online channels. Understanding these three things is important to understand so that digital marketing strategies can be carried out appropriately.
Also read: 7 Tips for Opportunities to Start Your Online Business
According to data quoted from Indonesian E-Commerce Association (idEA), although the penetration rate of online shopping continues to increase, currently the number of users of online shopping is only around 11-12 percent of the total population of Indonesia. One reason is consumer confidence in online shopping platforms. Therefore, businesses need to invest time and money to educate the market about safe transactions and choose a trusted online shopping platform.
- Start Small and Continue to Innovate
One of the most common mistakes made by businesses when they start venturing into online businesses is investing heavily in developing sites web / platform shop online without having a clear and measurable business target. Preferably, business people invest according to the business phase they have. Start with a simple and affordable website to test the market. After the transaction has occurred and continues to grow, it can begin to consider investing more. Start small and evolve along the way. But, of course, like all other companies, a good work culture needs to be had so that the company can grow well.
Also read: 9 Ways To Grow Your Online Business
- Get to know the existing Digital Marketing Channels and Decide Which Appropriate for Your Product / Service
There are several popular online advertising channels such as Google, YouTube, Facebook and Instagram in addition to placing advertisements on other websites. Channel selection should be adjusted to the type of product being sold and the current position of the product in the market. Some examples of how to choose a good marketing channel, for example: Google Ads is appropriate to target buyers who already know the type of goods they are looking for, such as services, property, and vacation packages. YouTube Ads is appropriately used to target a particular problem that the product to be offered will be answered while Facebook and Instagram Ads are appropriately used to target potential buyers of goods that are visually appealing, for example clothes, shoes, and food.
Tracking and monitoring Digital marketing strategies are very important to ensure that digital marketing efforts that have been made are right on target. Unlike conventional marketing which tends to be difficult to measure directly the impact on sales, with digital marketing, the efforts made can be traced to the results so that businesses can determine the next steps and allocate marketing budgets on target.
Also read: 3 Ways to Simplify Online Marketing Strategies
- Choosing the Right Digital Marketing Partner
The selection of the right partner is crucial for the success of digital marketing efforts. Digital marketing is a new domain in Indonesia. Even though it is popular, not many people have the skills needed to properly compile and implement digital marketing and content strategies.
Determinants of Online Business Success
- Do Market Research First
- The Importance of Market Education
- Start Small and Continue to Innovate
- Get to know the existing Digital Marketing Channels and Decide Which Appropriate for Your Product / Service
- Tracking and Monitoring
- Choosing the Right Digital Marketing Partner
"At Sribu, we are ready to become partners for business people who want to develop an online business with a digital marketing strategy that is right on target and has measurable business impact. Based on crowdsourcing, we offer a comprehensive new approach in providing content services and digital marketing strategies by having more than 150,000 professional content creators incorporated in our platform, "concluded Ryan.
Also read our other business guides!
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