Computation increasing, the world is becoming more comparative. To survive in the digital era business owners are changing their strategy. To make good business plan top 10 things Business owner must know in digital era.
Albert Einstein said the measure of intelligence is the ability to change.
If you don’t change your business style along with the change with technology, it will be quite difficult to survive in computation. Here in this article I will tell you about top ten digital terminology, that as a business professional you must have to have clear understanding.
- Website and Content management System (CMS)To me Content management system most important thing that business owner must have clear idea to generate pragmatic business idea. This such system where all digital contains (Such Text, Image, video etc.) stored and managed. People are now very busy and conscious. They need information with in just a mouse click. Before taking any decision they visit website to get some review. If they don’t find your name, they switch to other. So if you don’t have any website, you are not giving any opportunity to your clients for review. May be your service is very good, but as you cannot reach to your client using internet, you are giving up the opportunity to provide service to your customer and loosing revenue. But if you would have a good Content management system (CMS), you could easily manage a website including necessary information. Example: Your Pharmaceutical industry manufacture specialized diabetic product which has a very good demand in the world market. If you can increase the sales volume, you will be minimized the production cost too. You are investing millions of dollar to explore the local market which is already saturated. At the same time some region of Africa, this product has high demand. Pharmaceutical from Africa are desperately seeking some source from where they can trade some quality medicine. They are seeking the product on internet. The company who has proficiently organized Website, google is ranking them for the seekers and thus they are getting more opportunity to explore their business. Here is the list of Top ten CMS as per businessguru24 review.
- Concrete 5
- X3 CMS
2. Online Traffic Online traffic is a digital terminology of website visitor. Its very important for your business. Lets you have a good site and everyday 1 million visitor/per day visit on your site. They are basically your suspects. With good content and communication you can make them your prospective customer. Here feedback is very important. You have to assignee someone who will update the site and forward the queries to relevant desk. If visitor don’t get any feedback they are asking for, they will not be interested to visit your site any more or refer other to visit the site. Here you clearly losing your business opportunity.
3. Analytics Analytics is a tool that will help business to understand their client, their behavior and your content quality. Google Analytics is one of the most powerful analytical tool that allow you to understand and segment your visitor. You can get different important information which will allow you to customize your business and promotional activities. You can even understand the quality of your web content that may help you to improve your content.
For example: Mr. Jhon MacLine has a website. His webmaster informed him that the bounce rate of the site is very high. It is clearly indicating him that content of the site is very poor or not helpful for the visitor, so they are not staying on the site. So he can advise his content manager to rectify the content as per visitors demand.
Ms. Rosline has a website that have 1 million traffic/day. Most of them are coming from Japan, china and Germany. So she can advise her marketing manager to customize the promotional packages specially focus on those area.
She also found most of the visitor age between 15-25. So it is very clear that the website need to have content which is matching the demand of that age rank.
4. Domain name Domain name is the name of your site. People like easy name. It is easy to remember. If you have a website that is called www.ggrtaloyrn.com it is very hard to remember for the visitor. So there is less opportunity that visitor will remember that hard name and visit the site. On the other hand if you have a good and easy name which is easy to remember, there is enough opportunity to get more visitor for your site. But remember, it’s not easy to get easy domain name as people already admitted their preferred that more likely to your request. So I will highly recommend you to get your domain name now. You can check the availability. You can upload your content later, but if someone book your desired name, it will be very expensive for you to get the domain name in favor of your interest.
5. Search Engine optimization (SEO) People not always enter into site using domain name directly. Very often they search their desired topic using google search. Usually good display 10 website per page. Google display these search result as per the google rank. Search Engine optimization (SEO) is such a process that help the site have good google rank and that creates more opportunity to drive more traffic into the site. For example: You are online portal who sales gadgets and gear. There are other market leaders who also sale the same product. If google don’t rank your site, other market leader who had investment on Search Engine optimization (SEO) will get more traffic and will have more revenue.
6. Ecommerce and Payment Gateway Payment Gateway is a service with which your customer can give you money against the service or Product that you are committed for. There are several parties are linked with this service.
- Merchandiser (You)
- Payment gateway vendor
- Delivery partner
Here you have to share some percentage of your profit bank, Payment gateway vendor and delivery partner (If you don’t have you own delivery channel). So negotiation with these party is very key. If you pay higher percentage to them you will get less profit and if you can manage lower percentage for Bank, Payment gateway vendor and delivery partner you will enjoy higher margin.
7. Social Media and digital marketing Search Engine Optimization (SEO) is not the only way to get more traffic. Digital marketing is more efficient for getting more lead for your business. Digital marketing is activity to distribute your web link (Often call URL : Uniform Resource Locator) in form of advertising. If you browse website regularly you must have seen the sponsor link inform of text, rich test, image and video format. There are lot of ad server who distribute your link on other site. Most popular service is Google Absence. Other than you following services are also popular.
- Revenue Hits
- Revenue Hits
Display advertising expenses is different so you can pick your channel as per your demand. Interesting part of the advertisement is Keywords. You can target your customer and display your advertisement into the site. Let me give you an example to make it clear: Assume you sell the product which is applicable for Teenagers. You can set a program, when teen ager browse, your ad will be displayed. This will ensure optimum use of your advertisement money and provide you higher success rate. On the other hand, social media is also very key. If your visitor like your product, he can share the link in to their social media site (Like facebook), which help you to bring more traffic. You have to analysis their likes and comments which will help you to give better service to the community.
8. Digital Asset This is an intangible asset where anything can be stored in binary format. Here your ecommerce site, Enterprise Resource Planning (ERP), Dashboard all are digital asset. Benefit of this asset is to help you to maximize your profit using digital information and big data.
9. Online Market affiliation It is also one kind of digital marketing system. In orthodox system you often involve commission agent. If commission agent give you some business, you share some percentage of profit margin as commission. Online Market affiliation is also this type of commission which track each activity digitally. For example, there are lot of blogger. You asked some of them to put your product link into their blog. If someone purchase your product from that link, you will give a percentage to that blogger. As it is win-wi5.n situation, those blogger become motivated to maximize the sale using blog sharing or any other effective process.
10. Cloud service Cloud service is such service which is no hosted on your hardware. You can enjoy those service as paid service. For example you have a website. Now if you want to host it into your office, you have to ensure 100% uptime. But to ensure the support level there are lots of barrier like expensive hardware, power consumption, backup maintenance etc. But Amazon is such a company who can give you these services as per paid service. Generally this type of service are low expensive which create a positive impact at bottom line.