HOW TO MAKE $1000 WEEKLY FROM YOUR ONLINE BUSINESS

Passive Income; Anyone? Try this!

In the last couple of years, starting a business has transitioned from a rigorous process to something everyone can easily venture into without having so much in capital or having a physical store. The availability of online marketplaces like social media, shopify, ecommerce stores etc. has simplified the process. You can decide to start selling from the comfort of your homes, build main and passive incomes through the selling of physical products, services, and dropshipping online.

Despite the ease in starting businesses online, sales conversion and building relevance is no small task; availability of options has created a spike in competition as every brand is trying to get a huge market share in their respective categories. The need to dominate your marketplace is not exclusive to online brands alone, it is universal.

To thrive in this ecosystem, I have created a list of strategies you should incorporate in your business to building a sustainable brand online;

Focus on Creating Value.

Our need to make profit should be directly proportional to the value we are offering, which is why it is important to sell a product that is needed in your environment. These products tend to spread faster and yield more results than targeting an international market especially when you are starting out. No matter how saturated a market is, buyers will always prefer a local service professional to be around to fix a problem to a brand who is unavailable in their local market. This allows for local businesses to drive early growth and scale in a more efficient manner.

Build Trust

Let’s begin with this example; There are two shops beside your location selling the same items you need, one of these shops give an option where you can get a refund if you are not satisfied with your purchase, it also allows you change the item you bought if there is a damage and probably feels relatable while the other shop is just focused on selling without giving you so much of an option if anything goes wrong with the item. Which would you want to buy from? I am sure your answer would be the first shop. Okay, Great!

I know you have heard or read the saying “people buy from people” that’s the absolute truth. People want to buy from people they trust, relate with and understand. No one has the time to test a product when they have alternative brands they trust. Therefore, when building an online business, always consider the fact that the same customer will need the same item or maybe something else you are selling in the future. Would you be the person they come to? Your answer should be calculated by how much they trust you to deliver on your promise.

Create an Unforgettable Experience

Have exceptional customer service! That’s the word in this segment. You should create habits in consumers to find your purchasing experience. far better than an alternative. This will automatically increase your retention rate by about 20%. Businesses with such frequency create long lasting habits in consumers, which significantly raises the value of the business which increases revenue and profit. Don’t be that brand people want to run away from.

Quality Over Quantity

Businesses’ most important value proposition is to deliver high-quality demand to consumers and high-quality supply to buyers in the most efficient and effective manner. In other words, a business is only as good as its trading liquidity. When a business first gets started, the owner often needs to be patient and wait for the buyers to arrive, so the time to “match” (also called “conversion rate”) is slow. As the business gains momentum, customer’s demand increases and conversion rate improves. Many businesses measure this differently, but in the end, your online business needs to do its primary job, which is to satisfy buyers by delivering on your promise through quality items.

Don’t fret! It is not too difficult a thing to start and trust me, it’s way easier succeeding than failing. If you are still too afraid to start, do not worry. I didn’t become a stellar marketer out of the blue, I was once afraid too but one thing that made a difference was taking that bold step to soar and become better. I am here to help you thrive even in the most saturated marketplace so feel free to reach out to me if you need any help and/or have any questions.