Thanks to the internet and a suite of online tools, entrepreneurs now have unlimited access to global markets. Businesses can now expand internationally or increase their revenue streams from a single location. This makes growth accessible but challenging to navigate.
Let’s take a look at the most efficient online trading tools entrepreneurs can use to expand their business.
Increasing revenue streams is one of the core strategies for business expansion. While you may launch new products or expand to new markets, investing a portion of your business revenue is a low-cost way to make more money. Here are two important tools to get started.
Online trading and investing platforms give you access to various financial assets, ranging from stocks to bonds to exchange-traded funds. You can invest in low-risk instruments like money market funds and Treasury bills with moderate returns. Assets with higher returns are usually associated with higher risks, some of which include forex trading and cryptocurrencies like bitcoin. You may need to consult a financial advisor for proper portfolio diversification and risk management.
Once you jump on the investing train, you must indulge in some activities to truly understand market trends. Market analysis tools like TradingView serve as a way to see the price performance of an asset over time and get updates on economic news. If you are already expanding your business to other countries, these tools allow you to keep an eye on the country’s economic news and its currency performance so you can make prompt business decisions as the financial conditions change in your favor.
Whether you operate a traditional brick-and-mortar store or a remote online business, these e-commerce tools will help you attract and grow your customer base.
There are several e-commerce site builders on the internet, but the most well-known ones are Shopify and WooCommerce. The reason behind their success is not so far-fetched; both platforms offer an easy and self-sufficient way for business owners to design and launch their personal stores online. They are readily available to entrepreneurs who are into the service business or sell physical or digital products, enabling them to build a credible online presence with multiple style templates to suit their businesses. Additionally, they provide integrations for customer service, shipping, and payments.
For many businesses, payment or shipping systems are one of the key factors holding them back from accepting some customers. This could be due to overreliance on a single currency, payment method, or shipping system, depriving customers of various locations of an avenue to patronize their business. Consider integrating diverse payment or shipping systems into your business site so customers have more options to explore. Some payment processing systems you can integrate include PayPal, Payoneer, Apple Pay, and GPay. For global shipping, some of the popular services you can consider are DHL, FedX, and USPS.
Having a website is not enough to get leads and drive sales. Digital marketing changes rapidly, and the tactics that worked yesterday to bring in new customers may not work today. To stay ahead of the curve, you need to adapt your strategies to the latest trends and technologies. Here are the latest digital marketing tools to explore for more visibility and lead generation.
Chances are that hundreds of other online businesses provide similar services or products like yours. Search engines like Google rank your site higher than your competitors, largely due to your good search engine optimization practices. To improve your website’s search engine optimization (SEO) performance, start by conducting an SEO audit. You can audit your website using tools like SEMRUSH, Ahrefs, or Moz.
Based on this information, you can optimize your site’s loading speed, the keywords you use within the content, the types of ads, and the other platforms you can use to advertise or improve the reach, range, and relevance of your business. You can also outsource this task to and work alongside a technical SEO agency to ensure your website is positioned for higher ranking. Next, create and publish SEO-friendly content to expand your visibility and gain more leads.
Optinmonster reports that nearly 9 in 10 users (88%) check their email multiple times every day, with 39% checking between three to five times a day. With this staggering email usage frequency, email remains one of the most effective channels to reach and engage your audience. Email tools like MailChimp and ConvertKit allow you to qualify leads from your website and nurture them to customers over time. This kind of communication also serves as an avenue to run marketing campaigns, keep your customers aware of your products, and convert readers to clients.
Running advertising campaigns is not a cheap venture. However, it can be very rewarding if you want immediate results. Unlike SEO, which may take a few months before receiving any tangible ROI on your efforts, mostly because it’s a long-term strategy, ads place you right in front of your target audience.
Social media ads (27.7%), website ads (22.3%), mobile ads (20.6%), and video ads (16.9%) stand out as some of the leading sources for brand discovery, according to DataReportal. Use Google ads to feature at the top of search results for targeted keywords and on other Google platforms. Additionally, you can try Facebook, Instagram, and X ads to target specific customer demographics and build your brand awareness.
Expanding your business may entail entering new markets, using more inclusive payment and shipping systems, and generating more revenue streams. The tools highlighted in this article can help you grow your customer base by increasing your sales prospects, gaining more visibility on search engines, and converting your audience to customers.
