When launching a new business, there are a lot of decisions to make. Whilst some can be easily concluded as you get up and running, it’s important to make sure you make the right decisions about certain aspects of your business or you could face wasting a lot of money. Here’s a look at some of the hardest things to get right when launching a new brand online.
Pay Per Click Advertising
Once you’ve created your own online business, one of the best ways to get your brand name out there is to pay for some advertising. The only problem is that it can be hard to tell exactly what the most effective way of advertising your business will be. Just because you hand over a large amount of money doesn’t mean that you’ll make a large number of sales in return. Instead, it’s important to invest your budgeting carefully in the advertising methods that are the most likely to make you the most money.
For example, whilst pay per click advertising might sound like you’re only paying once the advertisement is a success, that isn’t always the case. Just because somebody clicks a link on the results page of a search engine doesn’t mean you’re guaranteed to make a sale. That’s why it’s important to work with a digital marketing agency who have the proper experience and expertise to set you up a pay per click campaign that manages to convert those clicks into sales. For example, the team at madebyfactory.com have a huge amount of experience in running successful campaigns like these. As one of their members is a former Google employee, there are very few teams that have a better understanding of the complicated algorithms involved in marketing on search engine sites.
How many products or services to offer
One of the big advantages of being an online brand is you can offer a lot more products than a traditional retail store. That’s because in a physical shop you need enough space to display any product you carry carefully, as well as leaving enough room for customers to move around the store. When you run an online business, warehouse space is a lot cheaper than retail space and you can organise your products a lot more efficiently. The only problem is if you spend lots of money making several different versions of a product and some of those versions simply don’t sell, you could have ended up wasting money. Instead, try and start by offering a small number of products. Once you are confident people want to buy that product, consider expanding the number of colours and designs you stock of each product.
What to call yourself
One of the easiest decisions to make is also one of the hardest to get right. Whilst there are lots of things you’ll want to change about your company over the years as it grows, one thing you won’t want to change is the name. Not only will it be expensive to replace any products and branding that include that name, but it will wipe out a lot of the brand recognition you’ve worked so hard to gain. That’s why it’s important to take your time choosing a name that is unique, easy to remember and suits what your business does.
Now you’re all set to forge ahead launching your brand online.