3 Must-Haves for All Online Businesses

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For every business initiative, there are numerous factors that you need to consider in order to make it a success. According to Bloomberg, 8 out of 10 entrepreneurs who launch a business fail within the first 18 months. Considering this, what are some of the essentials that can help you in strengthening your position in the online business world? Here is a look at 3 must-haves for all companies operating online.

Having Clearly Set Goals

It’s your company’s “who, what, where, when, how.” You need to know who your target audience is, what you are selling and what people are willing to pay for your product or service. Know the right channels of endorsing your brand and the right time for frequent follow-back e-mails to your customers.

Founders from the get-go should create a financial plan, detailing mileposts and how much money it will take to reach these goals. Having a written down best case and worst case scenario of goals beforehand and making up a proper plan for progressing is important for you to evaluate your choices and where you stand 5 years later in terms of your goals.

Whether you’re selling a product or service, set the price at what it needs to be to make valuable profit. In order to make the sale, you must believe in the product yourself. Imagine walking into an outlet to buy a product and the sales rep does not sound assertive enough to convince you to buy, or explain why it is better than the product sold by competitors. In such a scenario, you are likely to walk out of there without making the purchase. Justifying your trade and the money you demand from customers is an essential element of making your business a success.

Having a Customer Friendly Website

With most of the customer base shifting to the convenience of e-commerce websites, it would only make sense if you have an elaborate website in order to satisfy the entire customer base. Customers today are adept at finding the best deal in terms of quality, affordability and convenience. Imagine landing on a website that claims to sell what you’re looking for but the website comes across as inefficient and difficult to navigate. Chances are, that you would never return to that website. That accounts for customer dissatisfaction and the brand’s reputation falling apart. Now imagine arriving on a website that is both clear at representing the product, the prices, the delivery process etc, and simple to go through. With the pleasant customer experience underway, they are likely to carry out more transactions with your business.

Having Live Chat Service on Your Website

A lot of times, and not just when you’re running a business, lack of proper communication leads to multiple problems. Communication is key especially for online businesses where there is no human interaction. In order to overcome this problem while doing business online, Live Chat can be added to the webpages which will ensure that a customer service representative is available to instantly communicate with online customers. The live chat operators can guide customers regarding different products and services 24/7. Adding live chat support also gives you an edge over competitor companies and enhances customer satisfaction levels.

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