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Essay

Technology has become an indispensable part of our lives. Regardless of age and profession, everyone is using the internet and several social media sites either for entertainment or for educational and business purposes. Since the advent of technology, internet has proved to be the greatest revolution the world has seen. Due to its ability to link people from all over the world the rise in its usage is increasing day by day. It has given power to even a common person to share his or her thoughts, opinions and ideas with the world. Many entrepreneurs are also leveraging with the internet for monetary gain. The Internet serves as an advertiser, a marketer, an analyst, and publicists as well. It also provides marketers with an infinite number of opportunities to make their products perfect. Furthermore, to advertise a product on the web by posting content several options are available that can facilitate in making the content drafts perfect and attractive. E-marketing trend has taken over the entire world and every band that used to do traditional marketing of their products has been shifted to e-marketing due to its immense benefits. Many companies such as Amazon, Netflix and Zappos, etc leverage from the internet and are now running their business successfully. In 2017 Amazon was declared as one of the most prominent and leading innovative companies. The company’s technological sophistication empowers customers to interact with the digital platform provided by the company. To integrate its human resources, accounting and online transactions it has adopted the technology of networking. Netflix is another company that utilized the internet and revolutionized a way people watch TV. The technology-enabled company in providing unlimited access to its users all around the world.

Starting a business is always difficult as it involves several risks. Having no business background and enough money it was more difficult to develop a business. So I turned over to the Internet as through this platform I can access a wide range of audiences (Gruner & Power, 2018). To leverage from the internet, me and my team created a website that will represent our company aim and products. We used several online software that helped us in creating a site that attracts a lot of customers. After this, we prepared a survey and put it online. This helped us a lot in knowing the public’s opinion regarding our product. Also, this created a strong social media presence and gave us an opportunity to respond to every person's views regarding our product. As we had less money to start our business so crowdfunding was our only way to get enough funding to start a business. So we used the internet as a source of crowdfunding by launching a campaign on our website. Also, we send several emails to the people so that we can collect enough money. After the business was started another issue we faced was to manage increasing customers. So we build an online customer management system that helped us in tracking the transactions with the help of several cloud-based software that is available online. Further, we also created a customer loyalty program by posting new deals online for our existing clients. We also build an email list consisting of stakeholders and clients. The key to a successful business is to research all the completion in the market as this will facilitate in planning advertisement strategies that can help in growing the business. We also hired bloggers that helped us in writing content for our website so that we can grasp customers’ attention towards our product.

Although starting a business is a huge challenge yet dealing with the increased completion also very difficult. To manage the increasing competition in the market I will again use the internet. A well-thought catalog structure that contains product data is crucial in marketing the product online. So I hired more professional bloggers that can create content that will attract the customer to buy our product. I have also focused on using three big local listing services that are Google Places, Yahoo! and Microsoft Bing. Registering a business on Google places will help customers all around the world to us easily. Additionally, I and my team has also targeted several social media sites such as Facebook, LinkedIn, and Twitter. As my company targeted market is young women I have expanded our company presence to Instagram as well. Instagram is trending these days and especially young girls are more prone to use this platform. So by creating a page on Instagram will help my company in accessing more customers. This will help me survive in the increased market completion. Furthermore, I have also utilized the power of SEO that is search engine optimization so that I can improve my product visibility online. Another thing that is necessary for expanding a business is to make a product according to the demographics of the customers. It is difficult to know every customer so I use Google Analytics. With the help of this online tool, I can constantly monitor the number of views on my website and also it helps me a lot in understanding whether the demographics of my online customers match my targeted market or not (He & Akula, 2019). Due to the recent increase in the viewers of YouTube I have also made a channel in which we explain our company’ s products and services so that people can easily see the original products and could learn more about it. Marketing business online will also open a door of new opportunities that will help in strategic partnerships with other companies that can further help in expanding a business.

Despite several benefits of the internet in promoting business, there are certain complexities as well. To be successful in the online market sales organizations must adapt to the complexities of selling in the era of technology. To manage the online marketplace complexities, I have also made certain strategies. Simply putting a detail regarding the product online is not sufficient to increase the selling. There is a need to constantly monitor every online activity to manage the complexities online marketplace produces. Before buying a product people often checks the reviews of the customers who had already bought the product. One negative review can hinder the selling. I have developed a response plan so that a situation like this can be handled timely. Additionally, winning vendors and distributors online is not difficult but most of the distribution channels will be limited until a noteworthy sale. To cope up with this situation it is necessary to make compromises. Also, retailers that are entering the online space have to pay a significant amount of sales tax depending upon the countries policies are regulations. All these taxes can only be paid if the selling is high. So I have developed a strategy in which I have focused on the frequency of interactions in the marketplace. As the size and frequency of interactions contribute to determining how much lucidity is present on the platform. So a higher frequency of interaction will help in making products stick more in the market. Furthermore, another complexity that is faced while marketing products online is facing is scammers. For this, I have registered my website so that no fake website can do business on using my company name. A successful company is based on the decision-making ability of an entrepreneur yet the internet will undeniably remain one of the leading factors in expanding and promoting business.

References

Gruner, R. L., & Power, D. (2018). To integrate or not to integrate? Understanding B2B social media communications. Online Information Review, 42(1), 73-92.

He, W., Zhang, W., Tian, X., Tao, R., & Akula, V. (2019). Identifying customer knowledge on social media through data analytics. Journal of Enterprise Information Management, 32(1), 152-169.