Whoever said that the best things in life are free have not taken into account the investment put into them. Or perhaps, he or she is not an entrepreneur. Kidding aside, getting the most out of an endeavour entails risks. Starting a business online is one such endeavour.
The monetary risk involved in digital entrepreneurship is possibly the most significant of all. You may have chosen to build your online store to avoid incurring overhead costs from running a physical one. For example, Facebook marketing is one of the most used marketing channel all over the world but there are so many traps & myths about Facebook marketing. Actual engagement rate is going down every single day on Facebook –
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Acknowledging this condition, you then have to make calculated moves when you’re planning to invest in an online platform for your business.
Consider this list of the top 5 platforms for online entrepreneurs and see which one is worth investing in:
Building your business from scratch has never been easier. There are many options on the internet, and it is up to you to find one that matches your objectives. However, nothing is as value-adding as Squarespace in terms of giving you the freedom to create and sell at the same time.
Squarespace lets you design a website according to your brand and purpose. If you are a photographer seeking to build her portfolio, you can showcase your images while allowing potential clients to contact you. If you have products to market, you can set up an online store while offering information that matters to your target audience through your blog.
If Squarespace is for beginners, Magento is for advanced entrepreneurs. This Entrepreneur article dubs it a most scalable platform. Indeed, you can integrate additional features and services into this open-source platform. It also provides solutions according to your need (e.g. B2B, small business, global expansion) or industry (e.g. automotive, fashion, food, and beverage).
That said, Magento is a sophisticated and mature platform. It takes some background in PHP to be able to conduct implementation. Thus, if you are not an IT professional, you may have to hire one to help you work the backend. But if your online business is set, then Magento is going to boost your conversion rates and repeat purchases.
Although the gig economy lets you make money out of your expertise, it still requires you to put in the hours. With the knowledge economy, you can create an online course for once and turn your passion into profit. It is a one-off commitment that is scalable if you have the right tools to start with.
In comes Kajabi, a platform that consolidates all the tools you need to sell your knowledge. With tech guys for its founders, it has also been one of Inc.’s 5000 Fastest-Growing software companies in the last two years. Aside from creating an online course, you can set up marketing automation and design your website through Kajabi. Having the multiple services under one roof also makes it cost-effective, especially for the average online entrepreneur.
What sets apart Big Cartel is not so much its features as it is the people it serves. This platform positions itself as the place where creative businesses are run. It fills the gap for those who are used to doing creative stuff and having others sell it for them. Artists, bands, clothing designers, jewelry makers, and record labels are welcome to build an online store here. You can run a small shop on Big Cartel with as little stress as possible. You can also use its mobile-friendly solution while hosting a concert or joining a craft fair.
Investing in online marketing is not the most interesting topic given the number of articles that talk about free platforms here and there. But there are a few reasons you should not look away from Google AdWords just yet. First, it belongs to arguably the most important search engine in the world. Second, “AdWords generates the highest ROI when it comes to online advertising [among the key performance indicators used by marketers]” according to SEO expert Neil Patel. Google also offers training to its users, so you can rest assured that you will get the most of your advertising investment.