Identifying the Right Business Strategies

published on 02 January 2022

After having built 4 companies, I realized one thing. No matter how much you try to note down and incorporate business strategies from the past that worked well then, it is just not going to go as you planned now. The truth is, no success comes from copied work. Even that needs a certain amount of originality to make it big. Considering the many implications, how do I identify the right business strategies? Here are some tips that will help you build better strategies.

1. Keep it Simple

At the beginning of your Business launch, your dopamine gets over you. You’re nervous but in a good way. So many ideas and marketing strategies hover around your head all day. Not to forget, people around you also think it’s an appropriate time to bother you with their unsolicited advice and inputs. And what do you do? You say to yourself, “I am going to make the biggest and the best Marketing strategy that no other company has ever thought of!”

In the Digital World, there’s no shortage of tools and techniques. So as you make your strategy, you decide to experiment with most of the tools because you really do not wish for any stone to be left unturned.

Let me tell you upfront, your approach, and thinking, from the very beginning, was wrong. You see, most companies think that their marketing strategy is the most unique one to date, and as a result, invest tons of money into its process. And that’s exactly why most companies stay mediocre or worse, fail.

Just make sure that your website is simple to scroll through and that there is a proper call to action on each page and everywhere you post. Stick to a certain type of writing, color scheme, creatives. The magic lies in the little things. Over time, you can make changes to it if you like but don’t go too overboard.

2. Offer Limited Options

Do you know what the first thing a salesperson is told while training? “Don’t give your customers too many options to choose from.”

Tapping into someone’s interest is a tricky thing. If you don’t make an effort, you’re gone for good. If you do too much, you’ll be labeled as one and your efforts will go in vain.

Therefore, keeping a number as your limit to options, not too many or too few, will be the best way to approach a customer. You’ll fascinate them without leaving them confused.

If you can’t figure out what to do or how to start, conduct a competitive analysis. What do your competitors offer? If they offer X+1, offer X+1+2 but don’t escalate to higher numbers. How much do they offer? And of course, what is the price?

3. A Simple Checkout Process

I can’t stress enough the importance of this. In an age where the human race’s attention span is less than 10 seconds, do you really think a complicated or neglected check-out process is going to make them stay?

Online shopping is a lengthy task. Half an hour of scrolling, 20 minutes of choosing. 10 minutes of blankly staring at your cart, mentally calculating, and seeing what can be removed. A task that takes almost an hour to complete, can you imagine bumping into a bug at the very end of your checkout process? That’s almost as frustrating as seeing someone you hate hanging out with your friend, isn’t it?

Cart abandonment is a real issue and many businesses are at the receiving end of it, breaking their heads to understand what went wrong and how to fix it. Well, read the title of this sub-point. That’s the answer.

4. Create a Lead Magnet

A lead magnet is a business strategy that includes providing something for free in exchange for customer information that can be of use later on.

This is the most underrated yet clever way of strategizing. With the help of the customer information, you can add those leads on your Email Autoresponder, so that you can notify them as and when you need them next time. You can even use it to draw Predictive Analyses for your future Marketing plans. There is so much you can do with so little information. You can turn mere visitors into loyal customers with this simple strategy.

5. Join a Network Group

“Networking is the No.1 unwritten rule of success in Business.” – Sallie Krawcheck

In this Industry, Networking should be as easy as drinking a glass of water for Business Owners. A strong network gives you insights into all the industry trends and movements. Moreover, when you meet like-minded people, your motivation and confidence for doing business also stay up and mighty.

I, myself, have a group made for ambitious Business Owners like me and you, who are looking to expand their knowledge over handling business online and in Digital Marketing. In the Mastermind Group, we discuss all the different strategies, tools, and tactics like the ones I’ve listed above from my book, Unleash Your Business Online. You get diverse inputs from so many people from different walks of life. It’s a treat to be inside such a power-packed room!

Want to know more?

The tips listed above were just a light brush on the surface. What’s inside is a plethora, more like an explosion of knowledge, just waiting to be read. All you have to do is open the book. That’s right! Unleash Your Business Online is a book for aspiring entrepreneurs who are eager to build their Empire online. From tips to strategies to insiders, the book takes you step-by-step towards your goal. See you there!

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