13 Overlooked Aspects When Setting Up An Online Business

Anuj Mulik

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13 Overlooked Aspects When Setting Up An Online Business

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Table of Contents

13 Overlooked Aspects When Setting Up An Online Business

In the dynamic world of e-commerce, certain critical elements often escape notice. To uncover these hidden gems, we’ve compiled insights from Owners, CEOs, and Co-Founders, among others. From implementing comprehensive analytics early to coordinating a customer experience strategy, explore the thirteen key aspects these experts believe entrepreneurs frequently overlook when setting up an online business.

  • Implement Comprehensive Analytics Early
  • Assess Market Demand and Competition
  • Define Clear Website Goals
  • Craft a Compelling Brand Story
  • Transition from Hobbyist to Professional
  • Prioritize Data Compliance and Privacy
  • Establish Strong Brand Identity
  • Invest in Legal Framework Early
  • Build Customer Trust and Relationships
  • Ensure Digital Accessibility
  • Master the Art of Online Visibility
  • Create Robust Email Automation Funnels
  • Coordinate a Customer Experience Strategy

Implement Comprehensive Analytics Early

One frequently overlooked aspect of starting an online business is the importance of a robust analytics setup from the start. Many entrepreneurs focus heavily on website design and product offerings but neglect to implement comprehensive analytics tools like Google Analytics.

Having these tools in place from the start lets you gather critical data on user behavior, traffic sources, and conversion rates. This data is essential for making informed decisions and optimizing your marketing strategies.

Neglecting analytics means flying blind and potentially missing out on opportunities to effectively refine and grow your business. Ensuring a strong analytics foundation is crucial for long-term success and scalability.

Marcus ClarkeMarcus Clarke
Owner, Searchant

Assess Market Demand and Competition

One frequently overlooked aspect of starting an online business, I see, is not checking the market beforehand. Is there enough demand for what you want to provide? How stiff is the competition? Can you compete on price or quality? Do you have a USP (Unique Selling Proposition)? Do you really have what it takes to succeed in that market? I see a lot of idealism with startups. The idea of ‘My idea is so good, how could other people not feel the same?’ is essential to give you the drive to go your own way, but a startup needs much more than that. You must make sure there’s a market for what you want to sell and space enough for you to carve your own niche. Do that before setting up an online business, and you should have what you need to succeed.

Pratik ChaskarPratik Chaskar
Co-Founder & CTO, Spectra

Define Clear Website Goals

One frequently overlooked aspect when setting up an online business is defining clear and attainable website goals. From my experience of working with small and medium-sized businesses at AQ Marketing, it’s crucial that you know what you want your website to achieve before diving into the design and development phase. For example, if your goal is to drive foot traffic to a physical store, your website should have clear CTAs that direct users to visit in person.

Another aspect that business owners often miss is choosing a flexible and scalable template, especially if they’re using platforms like WordPress. I’ve seen many businesses initially go for a flashy design that looks great but fails to grow with their needs. One client had to completely overhaul their site just a year after launching because their initial template was too restrictive. By picking a template that allows for easy updates and expansions, you can save a lot of time and money in the long run.

Lastly, don’t underestimate the importance of website navigation and content. Users need to be able to find information quickly and easily. When I helped a local start-up design its website, we spent a significant amount of time mapping out the user journey and structuring the content accordingly. The result was a 40% increase in user engagement and a noticeable uptick in conversions. A well-thought-out navigation structure can make or break the user experience.

Robert P. DickeyRobert P. Dickey
President and CEO, AQ Marketing

Craft a Compelling Brand Story

Emphasizing storytelling in your online business helps create an emotional connection with your audience that goes beyond just buying and selling. A compelling brand story communicates your mission, values, and the ‘why’ behind your business, building a loyal community of customers who believe in what you do. This narrative strategy not only sets your brand apart in a crowded marketplace but also cultivates a brand identity that people want to support and engage with, turning customers into brand ambassadors.

Syed BalkhiSyed Balkhi
Co-Founder, WPBeginner

Transition from Hobbyist to Professional

One aspect of setting up an online business that I think is frequently overlooked is the switch from hobbyist to professional. For example, you helped friends and family build websites, or you created a website for your local cricket club, and have now launched a web design business. There’s a huge difference between an informal bedroom project, like helping someone out, versus competing as a professional on the open market. Quite a few entrepreneurs I talk to forget that, and it’s one of my key pieces of advice when I talk to people about starting their own business. Prepare your mind in advance, set up professional invoicing, order tracking, project management, and whatever other processes you need. Model yourself on an existing business you admire and try to appear as professional as possible. You must portray the right image in order for people to have confidence that you’ll get the job done. You can still be yourself, still be relaxed or informal, but look and feel like a pro. Make that switch, and you stand a very good chance of success!

Sujay PawarSujay Pawar
Co-Founder, CartFlows

Prioritize Data Compliance and Privacy

In my experience, one crucial aspect that is frequently overlooked when launching an online business is data compliance and privacy from day one. With evolving regulations like the GDPR and CCPA, it is absolutely imperative to implement robust privacy policies, data-handling procedures, and security measures that fully comply with all relevant legislation. Failing to do so can not only result in hefty fines and legal penalties but can also severely damage your company’s reputation and credibility in the eyes of consumers. By prioritizing data compliance from the very beginning, you protect your business from potential risks while simultaneously building trust with your customers as a secure, transparent, and reliable online entity.

Blair WilliamsBlair Williams
CEO, MemberPress

Establish Strong Brand Identity

One frequently overlooked aspect when setting up an online business is the importance of having a strong brand identity and cohesive branding strategy. Many entrepreneurs focus solely on building their website and marketing their products but fail to invest time and effort into developing a distinct brand that resonates with their target audience. Having a strong brand identity goes beyond just having a logo and color scheme; it encompasses your brand’s values, personality, and the emotional connection you create with your customers. A cohesive branding strategy ensures that every aspect of your business, from your website to your social media presence, reflects and reinforces your brand identity. Neglecting to establish a strong brand identity can result in a lack of differentiation in the market, making it harder to stand out from competitors. It can also lead to confusion among customers about what your brand stands for and why they should choose you over other options. By prioritizing brand identity and developing a cohesive branding strategy, you can create a more memorable and meaningful experience for your customers, build loyalty and trust, and ultimately, drive long-term success for your online business.

Josh KohlbachJosh Kohlbach
CEO & Founder, Wholesale Suite

Invest in Legal Framework Early

One frequently overlooked aspect when setting up an online business is hiring a lawyer. If you’re investing significant time and resources, or bringing in investors, the best money you’ll ever spend is on establishing the legal framework of your business. This includes setting up the appropriate legal structures, drafting clear contracts, and ensuring compliance with relevant regulations. Even if you don’t plan to sell your business for years, you’ll thank yourself for making this investment early on. A solid legal foundation protects your interests, clarifies roles and responsibilities, and can prevent costly disputes. If things go poorly and you need to wind the business down and return funds to investors, having a robust legal framework will make the process much smoother and less stressful. In essence, hiring a lawyer early on can save you from potential legal headaches and provide peace of mind, allowing you to focus on growing your business.

Travis SchreiberTravis Schreiber
Director of Operations, Erase Technologies

Build Customer Trust and Relationships

When setting up an online business, one frequently overlooked aspect is prioritizing customer trust and relationship-building. Entrepreneurs often focus on website design, product offerings, and marketing strategies, sometimes paying little attention to the crucial element of building trust with their audience. Establishing customer trust is essential for long-term success and sustainability in an online business. Building trust involves creating a positive customer experience, providing transparent communication, delivering on promises, and addressing customer concerns promptly. By prioritizing customer trust from the outset, online businesses can cultivate loyal customers, drive repeat purchases, and generate positive word-of-mouth referrals. Investing time and resources in building strong customer relationships can set an online business apart from competitors and create a solid foundation for growth and success.

Kristin Kimberly MarquetKristin Kimberly Marquet
Founder and Creative Director, Marquet Media

Ensure Digital Accessibility

One frequently overlooked aspect when setting up an online business is digital accessibility. It’s a no-brainer that offering a seamless experience and easy access to information gives you an edge over your competition and helps you engage a relevant audience. With that said, many people trying to access the information you provide may have disabilities, making it difficult for them to connect with you or access the data that can help them make informed buying decisions. This pain point often gets overlooked as businesses strive to attract an audience with no such concerns. But, if you think about it, by neglecting the information accessibility needs of people with disabilities, you may be shutting off a significant portion of the market and missing out on the opportunity to engage with potential customers.

Stephanie WellsStephanie Wells
Co-Founder and CTO, Formidable Forms

Master the Art of Online Visibility

One frequently overlooked aspect of setting up an online business, I’ve noticed, is getting noticed. Being found online among the millions of other companies offering the same or similar solutions. It’s easy to get caught up in idealism or the ‘build it and they will come’ mentality. It’s a great mindset to help you get started, but it’s not realistic in the long term. You need to go out there and shout from the rooftops loud enough for people to hear, but not so loud that you annoy the people you’re trying to attract. I think startups rarely consider just how difficult marketing an online business is, how long it takes, how much effort is involved, how much competition is out there, and how ad-blind we have all become. And now, how little we can depend on the main tool online businesses use to get noticed. Google just showed us that we cannot depend on search engines to deliver traffic or depend on them much at all. An already difficult job has become so much more difficult, and I think many online businesses don’t fully consider that.

Abhijeet KaldateAbhijeet Kaldate
Co-Founder, Astra

Create Robust Email Automation Funnels

Email capture and automation funnels. When you start your business, you’ll spend a lot of effort and money on acquiring traffic. Most of those visitors won’t convert into customers. So, you’ll spend even more money on retargeting ads. While this is good practice, you can further amplify your marketing performance by building robust marketing automations. Capture email leads and subscribers, and then nurture them over weeks and months. You’ll find that many more will eventually convert. And, of course, build email automations for existing customers to drive more return purchases.

Firas KittanehFiras Kittaneh
CEO & Co-Founder, Amerisleep Mattress

Coordinate a Customer Experience Strategy

A commonly overlooked aspect of launching a new online business is developing a thorough and well-coordinated customer experience strategy. Many new internet companies put a lot of effort into getting their product or service in front of clients and generating traffic initially, but they frequently overlook the customer journey that keeps them coming back. A user-friendly website design requires an easy-to-navigate website with clear calls-to-action, mobile optimization, simple menus, and quick loading times. Strong customer service should include a variety of contact channels, including chat, phone, email, and social media. Fast responses and self-service features like FAQs and tutorials should also be provided. Additionally, personalization is essential for delivering pertinent marketing messages and offers through consumer segmentation and customized suggestions.

Jared WeitzJared Weitz
Chief Executive Officer, United Capital Source

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