Online Business: Know The Basic Terms Before You Get Started

Online Business: Know The Basic Terms Before You Get Started

Online Business: Know The Basic Terms Before You Get Started (image by Pixabay)

idBos – If we just do a transaction or is being pioneered and starting an online business from scratch, then we will meet the various extraneous terms that have never been familiar in the ear. Terms in this handy online businesses to ease their perpetrators involved in the online business to Transact. Maybe some of the terms there before indeed we have ever heard.

Here are some of the terms that are familiar to our ears when conducting business transactions online:

  • Seller: seller or owner of an online shop
  • Buyer: designation of the buyer or customer
  • Supplier: people who give a supply of the goods in the seller
  • Reseller: a term for sellers who trade off other people’s stuff.
  • Reject: the term for goods which are not in good condition or disability.
  • Ready Stock: goods available
  • Restock: traded goods have been available again
  • Out of Stock: a term to describe the supplies of the goods in the seller or supplier has run out.
  • Cash on Delivery (COD): how to purchase in which the seller and buyer dealing with face-to-face. Payments are made when they bump into each other.
  • Shipping: delivery order Process

Of course, the above term is a term that is familiar to our ears. In fact, without being explained by the explanation at length, you already know. However, the term in online business is not only limited to the above terms. There are still many terms that you should know and that require more detailed explanation to be understood. This is important if you want to start an online business or you’re regular engage in transactions online store. Here are the terms:

1. Online Presence on Online Business

Online Presence itself is a variety of different ways, which can be used to represent our business online. This Online Presence helps us to direct traffic to our website. Without an Online Presence, our website will be hidden behind the millions of other websites. For that, so the purpose of our website is reached, there are several ways to enhance the Online Presence of our online business needs. Here’s how:

  • Specify the purpose the purpose of the business, so you can specify the channel that suits your business.
  • Wake up the website with the right platform and content with content that corresponds to the target.
  • Make sure that the website had a good user interface, making sure visitors to your business.
  • Select the right CMS, and continue to provide useful content, so consumers will be visiting again.
  • Integrate your website with social media,
  • Monitor keeps Online Presence in order to know what needs to be improved and the extent of its effectiveness.

2. Call To Action (CTA)

CTA is a word in the ad that aims to encourage readers in order to take action. What action? Action: with buying products or services that we offer. Here are the right ways to make CTA:

  • Using the word ‘ free ‘ to offer interesting.
  • Using negative sentences and Ask.
  • Create urgency by giving a deadline attractive offers.
  • Use action words, for example: check your health with Smartphone
  • Use words that are simple and clear

3. Conversion

In the world of online business, conversion occurs when someone visits online shops (visitor), and then take action from previous marketing efforts you have made. For example, at the time of online purchase. To increase conversions, you can do this in the following ways:

  • Optimize website navigation
  • Giving more than 1 payment option.
  • Speed up the loading on the website
  • Adding customer testimonials.
  • Optimizing social media as marketing.
  • Maintaining the quality of the product.

4. Remarketing

Remarketing refers to the customer who has ever done a purchase transaction of your product. Doing remarketing is meant to evoke a sense of attraction to them again against your product. Bottom line, this is a feature of digital advertising that allows you to show ads to people who never know we (go to our website).

5. Affiliate Marketing

Affiliate Marketing is a market other people’s products and instead, You will get a Commission from the sale of these products. The way it works is, by signing up for an affiliate program. Next, you need to promote your affiliate links. If there is a buyer through that link, then you will get a Commission. To make it easier for you to understand what is Affiliate Marketing, here are some steps:

  • Sign up first on affiliate programs and get affiliate links.
  • Spread the affiliate links (websites, blogs, and social media).
  • Visitors look at a product and buy a website from an online store through your link.
  • Online stores checking or validation.
  • If valid, then you will get commissions from online stores.

6. Referral

A referral is a system in which we will take visitors to a particular site or customer. Normally, the system is in the form of a website link. This is why Referral is closely associated with affiliate marketing. In this case, you must also know the term downline and upline. Own downline is the center of the affiliate program likened as the head, and the proverbial downline as a running program by spreading the affiliate referral links.

7. Customer Acquisition Cost (CAC)

CAC is a customer acquisition cost refers to the amount of income that is spent to acquire a new customer. For example, you use the service or marketing services to help you get a new customer. By using the service, let’s say you pay 10 million. And through the marketing services, you manage to get five new customers. With this acquisition, then the CAC to Your marketing efforts is 2 million.

Bottom line, your ultimate goal is a new customer and subscriber revenue results you get. It is important to understand how much cost that You spend on Your marketing efforts. Of course, with the CAC will help you evaluate your marketing efforts.

8. Customer Lifetime Value (CLTV)

In the business world, surely we do not want a short-term relationship building with the customer. This also applies when you start your online business. You have to make an effort so that the customer continues to buy products from your online business. Therefore, the calculation of the CLTV is indispensable. CLTV is the period in which the customers return again and again to buy and use the products from your online business. To get it, you have to understand what you can and what you give benefits to the customer so that you can establish a long-term relationship with the customer and profound.

9. Cloud Computing

In the language of Indonesia, Cloud Computing is defined as cloud computing. Many different definitions in this Cloud Computing means. In a nutshell, Cloud Computing refers to the availability of all computing resources through the internet. This means that a computer connected to the network Cloud Computing will have all the data and programs on a regular hosting connect at any time. This means that the duty to provide Cloud Computing Services, and we are the user (user). We don’t need to think about how Cloud Computing services meet our needs. We are only required to pay based on usage. The following is a function of Cloud Computing:

  • Smart marketing move and affordable to update and integrate any service.
  • You do not need to purchase expensive software, you can save costs by opting for Cloud Computing Services.

10. Dropship

Dropship is a system where we only ask reseller or supplier to send the goods an order-from Your customer. This means that you as a retailer does not need to store goods in the form of a stock transfer order, but only a product of our customer and the details of the shipment to wholesalers. This system involves a chain selling between retailers, wholesalers, and buyers. This system is more considered easy and profitable, because:

  • Does not require a large capital in starting your online business
  • No need to have stock of goods to sell products
  • No need to bother with packing and sending products
  • Save Your time and energy.

Certainly, by knowing the above terms, you become better know and will facilitate you in starting an online business or just simply doing transactions in the online business. For that, there is no harm for you to always add new terms related to online marketing.

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