Creating, Marketing, and Maintaining an Online Business in the Digital Age

1. Creating, Marketing, and Maintaining an Online Business in the Digital Age

2. What the Numbers Say • “Amid a global financial crisis, US online retail (excluding auto, travel, and prescription drugs) managed to grow 11% in 2009 to reach $155.2 billion. With a 10% compound annual growth rate (CAGR), US online retail sales are forecast to reach $248.7 billion by 2014. Growth in online retail sales will also continue to outpace growth in offline retail sales, as low prices, convenience, and selection drive more shoppers to the Web.” – Forrester Report

3. Small Business Statistics • 72% report having a website as their online presence • 65% reported a desire to look credible as the reason for website creation • 60% stated that a website is critical to success • 82% recommended creating a website • Only 21% of global business have a mobile version • 83% of consumers research products online before purchasing https://www.verisigninc.com/assets/Research-small-business-september2013.pdf

5. The Two Types of Online Businesses Entirely online • Ebay • Amazon Brick and mortar with online section • Apple • Wal-Mart

6. Why Have an Online Business? • More viewership • Company image • Better customer support • Easily accessible information

7. Why Have an Online Business? • No building costs • The store never closes • Low start up costs • Internet is a part of culture

8. Why Have an Online Business? • You can be anywhere in the world • Allows further globalization • Unique and affordable marketing opportunities • Easier for customers

9. Things to Consider Before Starting • Do you have an accurate business plan? • Do you have a target market? • Are you prepared for possible success and growth?

10. Creating a Website

11. Branding an Online Business

12. Online Branding • Branding: the strategy of how, where, when, and to whom the business is going to communicate with and deliver messages. • Creates awareness as to what the company stands for. • Give consumers an idea to latch on to.

13. Branding Through Website • Build a website that has an unique and relevant design. • Adidas • Patagonia • Create an appropriate logo. • Helps consumers recognize your brand

16. Effective Branding Examples

17. Brand Likability and Linkability • One of the most essential pages on your website • This page helps to connect with your consumers • Have staff write their own bios • Get connected using social media • Establish your brand as a credible source

18. How to Market Your Business

19. Search Engine Optimization • keyword volume • keyword relevance • keyword competition • keyword focus

20. Pay Per Click Advertising

21. Pay Per Click Cont. • PPC ads are sold in auction • GoogleAd Words • Great way to get traffic quickly

22. What is the difference between SEO and PPC?

23. Social Media Integration

24. Importance of Social Media

25. Developing a Social Media Strategy • Determine which social media platforms are appropriate for the brand • Which metrics to track and how to track them • Target market • Create a sense of brand consistency across all media platforms

26. The 3 C’s • Clarity- quality of being clear and concise • Consistency- Having a sense of conformity • Constancy- quality of being dependable

27. Anticipating Online Growth

28. Growing the Business • Think big • Great service drives growth • Forecast growth • Plan expenses first • Fixed and variable costs

29. Potential Mistakes • Lack of clarity towards target market • Do not grow just for the sake of growth • Being satisfied with the status quo

30. What to Expect from Future Consumers • Complete embrace of digital technology: By 2020 retailers will have fully embraced the use of digital technology, including mining consumer data to better understand purchase behavior, fully employing social media, and leveraging two-way communication channels with the workforce, whether in-field, in-store, or during travel. • Heightened influence of social media: Social media will influence a larger proportion of sales, driven both by consumers and emerging technologies like augmented reality, which enables consumers to "try on" products and share it with social networks for feedback. The next-generation department store: In 2020, the conventional department store will have evolved into an operation fronted by a small number of strategically-placed destination showrooms, which will showcase only the best-in-class items, but will also be able to arrange extremely swift and efficient delivery through online channels at the customer's preference. • PricewaterhouseCooper Survey

31. App Development

32. App Development • Successful online businesses should consider developing smartphone apps • Similarly to website development, simple app development can be easy to learn, but difficult to use effectively • Two major types • iOS apps • Android Apps

33. Android Apps • Android apps are written in the Java programming language • Developed through Android SDK • Apps can be uploaded to App markets immediately

34. iOS Apps • iOS apps are written in Objective C • Developed through iOS SDK, which can only run on OS X systems • Releasing iOS apps requires enrollment in the iPhone Developer Program • Costs $99 per year • Requires Apple’s approval

35. App Development • Barriers to entry are higher with iOS app development • Many people use either Android or iOS devices • Effective apps are difficult to program • Serious online businesses need apps for all systems

36. Overview • Designing and creating a company website • Branding an online business • Marketing and promotion of online business • Integration of social media • Anticipating growth and app development www.onlineentreprenuers.com/login Keyword: COM301Online