5 Tips to Initiate Business in Deal Aggregator Industry Being open and receptive to constructive feedback helps in the growth of a business
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Aggregator industry is flourishing in countries like India with businesses such as Uber, Ola, Grofers, Swiggy, etc. Aggregator model operates differentially as they have to reach out to customers in a big way by advertising online, collecting data and information and signing up a contract with their partners. The market is becoming more and more competitive and one needs to have the correct approach that keeps their businesses ahead of the competition.
There are many websites in India that are generating revenues by providing offers daily to get more visitors and customers and this is not an easy task. To start a business, one needs to have a business plan, a proper process flow, choose the right partner and best tools &systems for marketing. So, here are five tips to start a business in deal aggregator industry:
Know your Market
In a highly competitive market, the aggregators have to be unique and have something that is not there in the market. Pick a market as per the location and your target audience you want to cater. The business structure such as the name of the website and the tag is determined by the market you are addressing and the audience you are targeting. Try to create a brand value from the beginning.
It is easy to buy a domain and get started with it, but the website should be user-friendly and easy to navigate. As mentioned above, you need to target the right audience and start building an online presence by marketing your business and selling your product or service. Once you start getting customers, retain them by luring them with good services and products.
Advertisements and Marketing
Building a brand identity is of key importance as it is about the brand's value that will make you more popular and attract customers. No business can work without marketing, especially when there is a touch competition online. Developing an online marketing plan to reach your target market is one of the most important strategies to help your business.
There will be many new customers who will buy your services or products, therefore, making a good first impression is one of the keys to generate and convert lead, so ensure they come back to the website. Social media websites such as Facebook, Twitter and Instagram, encourage new customers to connect with you by seeing your ads and pop ups.
Keep your customers happy by being approachable and answering their queries on time as people expect quick response to avoid losing trust with your customers. Interacting with your customers is also important as it gives a clear picture of their needs and requirements that would strengthen your business. Moreover, having a constructive feedback will further grow your business.
There are other things like customer tools in the form of FAQ page that helps them to self-service and provides knowledge about the business, its working and services/products.
Stay ahead of the competition by effectively using these five tips to initiate business in deal aggregator industry.