Online businesses are the latest trends these past decades. Many of the biggest companies around the world include the creation of online platform to cater and bring their products and service to consumers. With this trend, we gather information what makes online store successful. We divide the information into two parts. One part discusses the four ways to make an online marketplace successful. The second part reiterates the three categories of online businesses.
Four ways to make Your online Business Prosper
One, online businesses that prosper do not stop in integrating innovative methods in their marketing plans. These innovative methods may include creating unique online interface that is still easy to use. These may involve new marketing strategies from simply optimizing the site to delivering a promotional email campaign. Incorporating an SEO marketing plan is an investment that most online marketplaces spend money on.
Two, these businesses generate a sophisticated order management system. This system, despite its complexity, is easy to use to the consumers. The platform is concise and yet complete. It enables the consumers to describe their problems or wants in a service or product without stressing them of description and technicalities.
Three, these businesses acquire technical knowledge on how to address the needs of consumers. Acquisition of such knowledge may come from two sources. The first source is experience and the second one is personnel empowerment. Through years of experience in the industry your business belongs to, you can obtain a lot of information. This information includes the purchasing habits of your consumers, their needs and wants without asking them directly.
On the other hand, personnel empowerment may mean sending your marketing team to trainings and seminars to learn the latest trends on marketing or giving your marketing team incentives if they can bring your company added sales in a month or year.
Four, these businesses create an equal demand and supply. In creating an equal demand and supply, consider the price and the need of your consumers. When demand is high, make sure that you can deliver the supply. You know that you are not short of supply if your consumers receive their demands within their specified period combined with high quality goods.
Categories of Online Businesses
Using the four strategies, we create a list of categories that represent the practical application in the Internet.
The Long Tail Category
This category describes an online business that offers products to consumers by delivering them in small quantities. These small quantities come from larger supply quantities . For example, a supplier of a dish washing product wants to sell worldwide. With the use of a long-tail online marketplace, the supplier can dispose the products until supplies last. An example is Amazon. The difference of this platform with the network category is the interaction made. The company that organizes the order management system can interact with consumers and suppliers. The suppliers on the other hand can only contact the company.
The Network Category
This category describes an online platform where suppliers can interact directly with their customers. A company organizes the platform and allows people to create an account to post products or services. Through commission or subscription fees, the company earns an income. An example of this category is Ebay.
The Transmission Category
This type of category describes online platforms that bring information to consumers in real time. An example of this category is when consumers have to pay their bills online. Using an online platform, you can achieve the information you want and services are delivered simultaneously.
Online businesses is a complexity in the business world but one that brings convenience to your consumers. Starting an online marketplace requires a small start-up costs but expensive maintenance costs once consumers find the marketplace as an important addition to their daily living.