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4 Crucial Ways to find Profitable Online Business
Digital Marketing
Emma Wilson
August 22, 2019
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The US Small Business Defense Office notes that in 2018, approximately 30.2 million small businesses exist in the United States alone. While not all are niche businesses, many of the newer startups tend to move in this direction.

The low start-up cost, coupled with the relative ease of marketing, means that there are fewer barriers to entry. That being said, if you do not want to end the number of companies that will not survive in their first year, you must carefully choose your niche.

Let’s see how to do just that.

Marketing to an individual

Before we go any further, let’s take a minute to define the niche activities. In simple terms, a niche business is one that focuses on a specific product in a subset of the market. Here are some examples to give you a better idea of ​​what we are talking about:

Specialty chocolates

All kinds of organic products, sugar free and lactose free

Monthly dog ​​food delivery service

Pet clothing accessories

All kinds of standard products created in a non-standard way (eg “organic” straws instead of plastic straws)

Motivational Guides for Introverts …

You get the point. A product or service that targets people (or companies) with a common characteristic.

Of course, selling anything requires a certain level of exposure. Niche companies rely heavily on marketing to market their product or service to their type of customer. This specificity is a double-edged sword.

On the plus side, it’s not that hard to look for and develop a marketing strategy that’s essentially focused on one customer. On top of that, if you have an innovative solution, you probably will not have to deal with a severe competitive climate in the beginning.

The obvious disadvantage of marketing for an individual is that there is not always a lot of room for growth. This means that you will often have to think about how to grow in other niches and create a full-fledged business by not remaining a single producing company.

But it’s a sweet concern for an already established niche sector. Let’s see how to start this journey.

Find your niche in 4 easy steps

So, how do you find a niche to start a business? It’s not as simple as doing a search on Google, but it does not have to be as complicated as developing a business plan in its own right.

Since few of us have the time or resources to search for a niche by trial and error, we are going to review a handful of things that hopefully will help you streamline this process and lead you to a niche in which you can succeed.

1. Look for what you like and what can be profitable

Many motivational seminars devote a lot of time to passion. Finding a hobby or hobby that excites you gives you an escape. However, if you really like doing something, why not try to make money?

Marketing Magazine mentions that passion is essential to success in a professional environment. When looking at niches, passion can be better defined as the meeting point of interest and pleasure.

2. Do the basic work needed

Imagine at this point you have some potential ideas about what you want to do. Like it or not, now is the time to roll up your sleeves and get into the search.

Conducting in-depth research on your potential target audience, as well as successes and failures in the field, can help you determine if your niche makes sense or makes sense.

Here’s what you can do:

Target Audience: Every marketer will tell you that knowing the target audience is the key to success for any business. In addition to speaking in person with potential customers, you can consult Quora, Reddit or other specialized forums in which your target audience is suspended. Here are some additional ideas on how to learn more about your target audience.

Find competitors: examine your competitors. If you do not have direct competitors, look at companies offering similar products / services in a comparable niche. Look at successful businesses and those that fail. If you are able to discover the reasons for these opposite trajectories, you will have a good idea if you have the opportunity to avoid failure and replicate their success.

Keyword search: In this context, the keyword search is intended to select keywords that users could use to search for your product or service. At this point, you are only interested in the volume to determine if there is a potential interest and trends indicating whether the niche is becoming more or less popular.

If you do all of the above and the results look promising, it’s time to refine your business idea.

3. Refine your business idea

Here are some things a new startup can use to tweak their business idea:

  1. Define exactly what you offer and what type of need / problem it solves or satisfies
  2. Define your target audience (demographics, psychographics, challenges and pain points for which you can help them)
  3. Define the price and payment model (if necessary, membership, weekly / monthly / annual subscriptions)
  4. Sort the channels with which you want to start marketing your product (Facebook PPC, Google Ads, affiliate marketing, Instagram promotion, content marketing, etc.).

When you have it covered, before you fully engage, it’s not a bad idea to test the market first.

4. Test the market

Testing the market is the last step in determining whether you have found a brilliant idea. Nobody wants to spend hours creating a site and attracting traffic to realize that it’s marketing.

Here is a possible solution to run a test:

Search for a similar product and view its sales page: You want to create a mockup of their sales page. It is not necessary to be perfect here; it just has to look like a legitimate sales page.

Create a fake “Buy” button: You do not have a product to sell yet, but you can create a “Buy Now” button leading to a page saying “Sorry, this product is out of stock.” to try to sell anything, you can simply ask people to give their opinion or ask for their email address to indicate that the product is available.

Generate targeted traffic: If you have the budget, the fastest way to get initial traffic to your landing page is to use Facebook, PPC or other paid methods.

Check the numbers: You can use the information provided by Google Analytics to estimate their interest in the product (by checking statistics such as the time on the page) and the conversion rate.

This is not a foolproof method that works in all scenarios, but it is a fairly simple way to test the market and assess whether the business can be profitable.

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Pros and Cons of PPC Marketing
Digital Marketing
Emma Wilson
August 20, 2019
0

Pros of PPC marketing are:

PPC offers retargeting or remarketing of your visitors

Remarketing describes efforts to reach people who have already visited your site. If you use PPC marketing, the process can be done quickly. Remarketing is a reliable method mainly because, most of the time, visitors do not change quickly from the first meeting. By using remarketing, you reach them all the time and you give your ad a great chance to turn it into a prospect or a sale. . Your PPC ads may appear on the search or display screen network.

PPC offers you quantifiable results

PPC leads are more measurable than SEO ones. Indeed, PPC networks such as Google AdWords provide different forms of statistics that allow website owners to know if their ads are really transforming and offer a reasonable return on investment. These metrics let you know how many people have seen your ad, the number of clicks on that ad, and the number of tasks performed.

PPC allows you to track return on investment with conversion pixels

If you are running a PPC project, you must identify the keywords, ads, and landing pages that are being transformed. Previously, this was difficult because it included keyword-level localization. However, with pixel tracking, the process is now pain free. Pixel tracking is easy to use with tracking code, a standard feature of most PPC services, including Adwords and Facebook Marketing

PPC gives you quick results

PPC is the method for you if you want to see fast results. Unlike SEO, this method does not need a lot of patience. It’s very easy to create a PPC campaign through Google AdWords or comparable channels from another online search engine. Just three basic steps. First, you must create an account. Then you need to create ads and quotes on keywords that your target audience will use to search for details on the search engines. Finally, you must direct them to a specific landing page for optimal performance. After that, just relax and wait for someone to click on your ad. And speaking of waiting, you do not have to wait long to see the results with PPC. Assuming you have excellent advertising and have followed the PPC project to the letter, your site will undoubtedly be up and running immediately, and you can also expect sales to materialize.

PPC is really affordable

Some people fear PPC advertising because of the high cost of advertising. With PPC, you do not have to pay for your ad to be inserted into a search engine by selecting the option Use click payment. Similarly, PPC allows you to define your own budget plan.

PPC allows you to track your ads in real time

With other types of online advertising, you will be able to see the results only months after the ads are put in place. Because PPC offers real-time tracking of ads, you can make adjustments instantly when an ad does not deliver the desired results.

PPC exposes your organization both in your area and in the world

One of the most exciting aspects of PPC marketing is that it gives advertisers the ability to manage where their ads are displayed. This makes PPC suitable for global and local brands, business owners and internet marketers.

PPC Supplies Greater control

If you are someone who wants to have more control over your online marketing campaign, PPC marketing is the most perfect method for you. With PPC channels such as AdWords, you have the right to choose the page where you want visitors to go. If you are the type of online marketing specialist or website that wants visitors to your website to follow a specific path, you need to do PPC marketing.

Some Cons of PPC marketing are:

PPC marketing is rather complicated

In fact, many customers have asked us for help with their PPC advertising projects because they just could not find out. The PPC is extremely complicated compared to the old way of doing things (involving an excellent old SEO).

PPC advertising is really expensive

This naturally leads to the next disadvantage of PPC advertising: it can be downright expensive, really fast! I’ve seen misled customers burn a few thousand dollars of their AdWords spending budget in one day, as they were looking for keywords that were not rewarding and forgot they had to spend every click, even though these “remote controls” do not buy.

People tend to disregard sponsored ads

A recent Google survey found that 85% of respondents say they ignore sponsored ads. It is true. I confess to silence advertising when I search for or post a status update on Facebook, which is unfortunate for PPC ads that are trying to get me to click.

Individuals are skeptical about advertising

The reality in life is that people around the world have become skeptical about advertising, made up of CPD. Marketing efforts are considered negatively because, let’s face it, people understand that you are trying to sell them something. And individuals do not like being offered or stunned by advertising when they try to surf the web for status information or updates on their favorite social media. Remember, if you use PPC marketing as an important marketing technique, the odds (negative customer reaction to your ads) are already playing against you.

Choosing the wrong PPC marketing company

When I say that there are thousands and thousands of Pay Per Click advertising companies offering businesses the sun and the moon as far as the king for their sponsored links services – I turn a deaf ear. There are a lot of marketing companies and independent suppliers who can talk, but unfortunately, many of them can not walk around. It’s easy not to know what the outcome will be in a rather vague industry. This does not mean that you can not be particular in the companies you use for your paid marketing.

It is always wise to choose a marketing company based on a recommendation from a trusted source, such as a friend or colleague. Although many large companies have a full and experienced staff, they can offer your ads a lot of visibility (suggesting that your keywords will get a great position in the advertised ad). Choose your PPC services from a trusted company that can offer recommendations to your customers, as well as take the time to discuss sponsored advertising with you to find out how you are investing your money and effort.

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The 4 most important metrics to measure the growth of your business
Digital Marketing
Emma Wilson
August 20, 2019
0

Metrics are not about vanity. It’s about monitoring what’s working and what’s not working so you can adapt and evolve as you go.

“Mistakes will not end your business. If you are nimble and willing to listen to constructive criticism you can excel by learning and evolving.” – Meridith Valiando Rojas

Here are our 4 startup growth indicators that all new businesses must measure in order to track their growth and protect their success.

Read on to learn more about the 4 key start-up growth indicators, as well as:

  • Which metrics to start with?
  • Why you need it
  • How to calculate them
  • How they fit with other metrics

Let’s dig in.

1. Revenue

Never lose sight of the fact that cash flow is the king. If you do not make money, you do not have a viable business. It starts by keeping a close eye on the amount of money coming in; and, whether it’s up or down.

As a metric, revenue is simple: it is the total amount of your sales or invoice value for a given period. The time you use depends on your type of business, however.

If you offer a subscription service, for example, it will be much more useful to calculate this amount each month, because it gives you a clear idea of ​​sales growth.

If this sounds like your business model, also be sure to measure your Average Revenue Per User (ARPU) on a monthly basis as well. This divides your monthly turnover by your total number of users. You can determine how much each customer represents for you and the subscription contracts or offers that are most interesting. 

If, on the other hand, you sell high-value products or services, work with a relatively small number of customers or work on large consecutive contracts, it will probably make more sense for you to focus on your quarterly or even annual earnings. Otherwise, you could end up with deceptive or unnecessary values ​​that would make it seem like you have trouble working when you are working on a huge contract that can not be billed until the end.

That said, if you belong to this last category, it may be useful to check revenue statistics at shorter intervals. Indeed, if your larger contracts mean that you have whole months without billing, you may be facing serious cash flow problems. After all, in the meantime, you still have to pay normal salaries, operational costs, and so on.

Controlling the numbers will alert you to potential problems on the horizon and allow you to begin to find solutions. For example, ask customers to pay a percentage initially for large commissions or divide large projects into small billable pieces.

2. Customer Acquisition Cost (CAC)

This is one of the growth indicators of start-ups that measure how much it costs your business to attract new customers. You calculate it by taking the total sales for a given period, subtracting your marketing expenses (salaries, tools, expenses, etc.) for the same period, then dividing it by the number of customers you acquired during the same period.

For this metric to be really meaningful, you need to reference it with your Customer Lifetime Value (LTV). The LTV tells you the amount of revenue generated by each person during the time they remain your customer.

In the end, for your business model to be successful, you need your CAC to be significantly higher than your LTV. However, for early-stage start-ups, chances are this is not the case – and you will not have to panic.

Remember, this is lifetime value. Therefore, if you started, you would not have had time to recover your investment from each customer. In addition, you may have been introduced to all kinds of tools and marketing platforms, or to expanding your team.

Just keep a close eye on this measure as your business evolves; and, work to keep it below your LTV.

3. Customer Retention Rate

Monitoring (and improving) retention is vital because attracting a new customer is much more expensive than reselling or upselling to an existing customer.

This means that focusing on building loyalty and retention of your current customer base will be more useful than attracting new ones.

Here is a formula you can use to calculate your customer retention rate over a period of time. be monthly, quarterly or other:

A = How many customers you have at the start of the period

B = How many customers you have at the end of the period

C = How many new customers you onboard during the period

Customer Retention Rate (CRR) = ((B-C)/A) x 100 

You can also check your churn rate, which indicates how quickly you eliminate your customers. Pay attention to the trend and the absolute value.

4. Operational Efficiency

This calculates the ratio between your sales, general and administrative expenses (SGA) and your sales figures. This is extremely important because it essentially reveals if the cost of running your business is much higher than the income you generate.

You can calculate this in different ways. The simplest method is to divide the total of all your expenses for a given period by the total revenues for that period.

Related indicators include Gross Margins (your revenue minus the cost of goods sold) or COGS, which tells you how much you keep for each pound you earn in sales), as well as the Burn Rate (how long will you run out of money). , how much you reach the breakeven point and when you will become profitable).

That’s what you need: 4 startup growth indicators to get you started. Remember that monitoring and evaluating the interaction of these factors is just as important as following them individually. By looking at them side by side, you will get a complete picture of the health of your business.

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The Business Growth Process
Digital Marketing
Emma Wilson
July 30, 2019
0

Has it ever occurred to your mind that how do companies survives and manages to cope up with their competitions? It sounds like quite a big challenge, isn’t it? Every business begins with a simple idea. But growing an idea into a company is the real process. It all begins with fresh ideas that blend innovations with valuable marketing strategies. 

Whether attempting to increase market share, improve profitability or add staff, every company is trying to grow. Companies encounter certain challenges and experiences during the business growth process. What if you can double your business growth in less than 90 days? If you know the accurate success formula then YES! Non-Stop Business Growth Is Possible! With One & Only GoCommercially.

We use a formula: 

“Platform + Professionals + Process + Audit = Growth”  

And with GoCommercially it becomes inevitable to stop your business from achieving the 5 pillars of Business Optimization/Growth:

1. The Development Stage

If you decide your business idea is worth developing, the next step is to put together a business plan.

GoCommercially is your one-stop business solution where you can ideate a unique business plan. The business solutions we curate are based on cutting edge technology across Business Intelligence, Analytics, Web, SEO, SMO, Email, Marketing Automation, AI/ Chatbots and so on.

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GoComercially is the best business growth platform where you can also develop new measures for your strategic business growth. A continuous business cycle enables the entrepreneur to maximize their chances of success. Business plans are a vital tool for entrepreneurs seeking various services and GoCommercially gets you the desired results.

2. Start-Up Stage

If your business is a start-up friendly initiation then GoComercially is like your cherry on top. This stage is extremely risky and many entrepreneurs pull out. The actual budget may even exceed what was originally allocated. Keeping the challenges in mind you will need to invest in a platform that not only gives you top class services but also curates them for you at the best price in market presence.  

3. Growth Stage

Companies that reach the growth stage have overcome the intense start-up stage and are now generating revenue and growing their client base. While profits have increased, however, competition is catching up.

At GoCommercially, we help you with all the information, advice, assistance and resources required to Start, Manage, Market or Scale your business.

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If you really want to scale your business, you should focus first on fine-tuning your business model by identifying ways to improve your sales and marketing models. Entrepreneurs looking to grow their businesses need to start by analyzing their key profitable microservices then come up with strategies to grow these profit drivers.

4. Expansion Stage 

Characterized by a new season of growth and increasing distribution channels, businesses in the expansion stage are faced with the need to gain a bigger market share as well as looking for ways to stream in new revenues and profit. This stage calls for a streamlined plan and research before moving into new markets.

At GoComercially, our integrated growth framework includes a formula 

“Platform + Professionals + Process + Audit = Growth” 

This integrated growth framework includes the ideation of not only expanding your business but also introduce them to the latest Marketing, Creative & Technology Processes. Combined with Strategy and Audit this becomes formidable. 

5. Maturity Stage

When a company reaches the maturity stage, the idea that was just a thought is now dominating and has stable profits thanks to the strategies you came up with during the four previous stages. This stage relies on a financial source to help overcome the challenges and keep the business upon its booming record.

At GoComercially, we curate endless web-services that fulfill your marketing and business plans at a very reasonable price. Our categories cover all the six topics: Sell, Digital, Email, Search, Social and Web. GoComercially is the most advanced and feature rich platform for your Business Growth. At GoComercially you no longer have to be dependent on expensive agency retainers or risky freelancers that got no proof of their work. 

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