We are in the economy where it is no longer winners and losers, it is only about winners.
The disruption of the Covid-19 pandemic has caused some serious tension towards business. But as it is always seen that if one industry goes down then another industry comes up, the same has happened with digital marketing.
Now onwards if any aspiring entrepreneur has a tremendous new business idea that will take the world by storm, then that entrepreneur needs to answer the most important question “How to pitch a new business idea”.
Every day, everyone comes up with new business ideas but how many of these people can actually achieve it? Not more than 10 percent.
Let’s see how an individual can start a new business post-pandemic and what factors need to be considered.
1. Define your new business
Are you going to sell products or services? If it is a product how are you going to scale up the volume? Whatever your plan maybe just make sure to have a feasible and realistic plan.
Also if it is service-based then just keep in mind that people will be paying for your skillset and your experience. Therefore in the service business offering price for your service can be sometimes difficult.
2. Digital marketing is the next step
If you don’t exist on the internet then you don’t exist in real life. Being digital should be the first strategy for any new business looking to launch shortly.
The big advantage which digital marketing offers you is that you can start anywhere from the world all you need is a smartphone or laptop and internet connection. Also, certain tools are free with which you can start your journey.
3. Free tools and their uses
Canva: Canva is a free graphic design tool that helps you to create business posts for social media channels including Facebook, LinkedIn, Twitter, Instagram, etc., and custom dimension images as well.
They have stock images that are royalty-free and can be used directly. There millions of images, font, the template in Canva. Also, you can access Canva on mobile and laptop.
Hootsuite: Hootsuite is a free platform that helps you to share posts on Twitter, Facebook, Instagram, LinkedIn, and YouTube. What differentiates Hootsuite is you can schedule your social media posts.
If you are Asian and want to share a post in US Time you can schedule as per your time and it will show US people in their time. Their social media dashboard is simple and you can start using this platform free of cost.
Google Keyword planner: Google Ads keyword planner is a tool used for building the keywords list. You can get to know the search volume for your business.
This will help you to target countries for your business. Also, you can spend money on paid campaigns which will get you results more quickly.
Grammarly: Want a free tool to correct your grammatical mistakes Grammarly is your solution. You can use Grammarly as an extension so that it will correct your grammatical mistakes even writing a mail.
Google Analytics: A free tool that shows data for your website. Analytics shows website traffic analytics which helps you to make decisions for a certain page which is rank well or vice versa.
Moz: If you want to start blogging MOZ is a tool for you. It is a free tool that shows the Domain Authority and Page authority.
If you get a chance to blog for high DA sites which DA more than 60 then your blog gets recognition and adds value to the website as well.
Wrike: A free tool that supports up to 5 users and an unlimited number of collaborations. You also get up to 2 GB free storage which is enough to manage tasks, share files, and monitor group activities in real-time.
EquityNet: If your new business is looking for investors then EquityNet offers a free crowdfunding platform to share your business with investors. You’ll need to create a business plan with EquityNet software and then share it with the investor on their platform.
It is a funding platform but if you have a catchy business idea and have MVP ready you’re likely to get funding and give wings to your business idea.
4. If you are ranking you are earning
Let’s be honest if you are purchasing any product and looking for online reviews do you ever visit the 7th, 8th, or 9th Google search page? We don’t right.
So it is really important to rank on Google. SEO (Search Engine Optimization) is a term in digital marketing that helps you to present data of keywords with volume searches according to different keywords or country wise searches.
Content is king in marketing and if you are able to relate what visitors are looking for and presenting them perfect content you are more likely to rank up higher. Nowadays promoting educating video is a good way to earning more views and getting more amounts of visitors.
There are certain SEO tools like Ahrefs, SEMrush, Google trends, WOO rank, BuzzSumo, Yoast, Screaming Frog SEO Spider. These tools will give you insights which will help you to rank your business in Google result.
5. Leverage technology to give a more personalized experience
Retail selling is slumping. “Brick & Mortar” business model has already taken damage from online resellers and now in Coronavirus pandemic because of social distancing retail shopping is bound to go low. Therefore now consumers need online services.
An optimized chatbot is a great way to answer the queries in 1 sec. It is free to insert a chatbot on the website and answer the most commonly asked questions. Also, personalized technology is the best way to turn consumers into customers.
For example, if we visit Amazon and search for products we can see suggestions for that product and also we see advertisements on different social media channels for that product.
So if we can watch that product more often we are more likely to purchase it. Also if you are planning to launch an eCommerce website partnering all retail shop options is always open.
6. Social media is your identity
Where can you create a strong brand identity? The answer is social media.
Social media is the face of your company how you present yourself and how you resolve customer queries sets the tone for your business. Sometimes there are social media campaign which goes viral and earns millions.
For example, White Claw is a beverage making company that was launched in 2016. It got recognized in 2019 when user-generated memes became famous.
That meme became so famous all around the country that their product was out of stock. They almost earned $300 million which forced their competitor to replicate the same campaign.
7. Go with the business trend
Nowadays people are impatient and want results quickly. If you have a business website that is taking time to load then boom you lost that visitor and maybe customer as well.
Consumers are looking for products and services all around the clock. So be ready to present them these services all day and night. It is quite clear that people don’t like to waste time and want their results quickly.
For aspiring entrepreneurs today the thought of launching a business may seem best and foolish at worst. Even investors are advising to invest but some are not.
If you haven’t gotten your business off the ground, you don’t necessarily have to wave off to your dreams. However, you do need to adapt to the new realities of the post-COVID business world. Additionally, accept and prepare new challenges that come with it.
Today business leaders are already preparing new business models which include cost-cutting, new ways to work productively, and restarting paused projects. With remote working firmly established in our lives now, companies are focused on providing the best technology infrastructure and user experience a priority.
It is not to worry too much as starting a new business is always a good idea. Currently, most people are not looking to start a new business and those who are starting will have less competition. This clearly shows how vacant the market is and why this is the best time to start your business.
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John Morris an investment advisor for Alcor, a global investment bank. He’s best known for writing on business growth, startup, and finance and helping startups grow. Apart from writing John has a good network in the Finance industry especially the Investors community. He enjoys Chocolava cake and in free time like to watch Cricket.