How to Create a Successful Online Business

E-commerce is the fastest growing retail market in Europe. Sales in the UK, Germany, France, Sweden, The Netherlands, Italy, Poland and Spain are expected to grow from £132.05bn

in 2014 to £156.67bn in 2015, marking an 18.4% increase. The UK (£44.97bn) makes up the bulk of online spending, followed by Germany (£36.23bn) and France (£26.38bn). If you’re looking to get in on the action, you’ll need to know how to create a successful online business.

Think Different

Apple’s famous slogan coined in 1997, “think different,” now symbolises the company’s turn of fortune following the return of founder Steve Jobs. Many entrepreneurs starting their own business do so because they believe they can create something that’s better than the competition. With limited resources, however, being better is a difficult value to get across. What’s more effective is creating something that gets your company noticed by being unique or serving a specific niche in the market.

Market Your Brand

From Facebook to Twitter to Pinterest, these are now the platforms where consumers engage with brands. Industry heavyweights have firmly caught on to this, too, with three-quarters of the top Fortune 500 active on Twitter and a further two-thirds doing the same through Facebook. If your SMB is to one day reach this level, it needs to be doing the same. You should start by making sure you’re easy to follow. Include clearly visible links to your brand’s social media accounts and homepages on your website.

Understand Your Audience

Those making a difference take the time to understand their audience. Gone is the day when you were the only store in town and shoppers had no choice but to buy from you. The Internet has put the power firmly in the hands of the consumers now and they can now choose from a national, or even global, market. Give shoppers a reason to return to your storefront, with loyalty rewards, sales, and by regularly updating your stock.

Know the Risks

Finally, you’ll need to learn how to protect your business. Your data is a valuable asset and the number one way to protect it is through educating your employees on online threats. You also need to be incorporating services like anti-virus software into your businesses as well as making sure that backing up and encrypting your data is a part of your regular workflow.

SMBs can learn a lot from those who have been successful in the market, but, because markets evolve so quickly, it’s not enough to simply copy their techniques. You now have different tools available to you than they did when they were in your position. Make sure you’re aware of the tools at your disposal.