How to build a digital business step by step?

How to build a digital business step by step?

Claudia Roca

Aug 18, 2022

Aug 18, 2022

Aug 18, 2022

How to build a digital business step by step?
How to build a digital business step by step?
How to build a digital business step by step?

You've already taken the first step to create your digital business. Entrepreneurship is a decision that requires courage and bravery due to the competitiveness that exists today.

It can be exciting, but there comes a time when doubts creep in. There are many areas that you have to attend to and problems that pile up without going to market.

But don't worry, that's what we're here for. Our team has a lot of experience in the digital world and therefore will give you a detailed guide to build your online business solid and stable.

Eager to learn more about it? Read it in the following article:

What should I do to develop my digital business?

To build a successful business you need to pay attention to many areas and digital projects are no exception.

How many times have you heard of ideas that turn into millionaire companies in a very short time? You can do it too, but you need to follow a series of steps to increase the chances of success.

Let's take a closer look below:

1. Define what you’re going to offer

The first thing you need to do is define what you will offer to the world. 

"A business is an idea to improve the world", Richard Branson once said, so it's time to put this mantra into practice.

The following tips will help you determine what product or service you will sell:

  • What do I specialize in?

  • Am I good at craftsmanship?

  • What do I like to do?

  • Can I turn my career into a profession?

We recommend that you focus on an area that you are 100% passionate about. There's nothing more rewarding than dedicating yourself to what you love and if it is with your own business, so much the better. 

Look at what you like to do and verify that it has a place in the market. If so, you will be able to monetize your knowledge thanks to the possibilities offered by the Internet.

2. Study the market

Okay, you already know what you have to offer to the world, but now it's time to determine if that sector is profitable for you.

To do this you can conduct a market study in which you evaluate the behavior of users, here you determine how many people are interested in what you offer and where they are located. 

You will also find the competitors that currently exist and the position they occupy in the market. If you detect that they are consolidated companies you will have to focus on niches of people who have not been served by these companies. 

3. Analyze the target audience

We are on the right track, you already know what you will sell and to which market you want to belong.  Now it's time to study your target audience in detail.

Knowing who to target is as important as defining the business idea, so it's time to take a look. 

What should you ask yourself? Some of the items that will help you define your target audience are:

  • User age range.

  • Demographic characteristics. Where they are located, in what specific city or town.

  • Profession, occupation or main activities.

  • Interests and unsatisfied needs.

  • Favorite social networks.

Once you answer the above points you will have a profile of your ideal customer. Then you can start thinking about a strategy to promote your project on the sites and digital channels that your user consumes.

4. Prioritize the brand

You already know what product you will offer and who you will sell it to, which means it's time to focus on your brand. 

People have to identify you with a phrase, color or image that is related to the characteristics of your business. You can achieve all this with the right branding work that develops the visual aspect of the project.

It's not the same to go to a job interview in pajamas than to go with a shirt and pants that go according to the occasion, right? Well, the same goes for the brand, since it will be your letter of introduction to others.

Here you will define the name of the business, the logo, color palette, typography, tone in which you will address the user and much more. 

Spend as much time as necessary if you do not want to doom yourself to failure. All successful companies have a strong and resounding brand, so you must follow in their footsteps.

5. Create your website

We can't imagine any renowned digital business that doesn't have a website, can you?

Having a website is non-negotiable if you want users to communicate with you and know where to buy the products or services you offer. It's true that you need specialized knowledge, but it's not as difficult as many people think.

Depending on your budget you can hire a web developer to help you with this important task. Otherwise, you can sign up for some of our programs that we have for you at the school.

Believe us when we tell you that a well designed website could become a sales machine if you work it properly.

6. Appropriate social networks

Finding the ideal digital channels to cater to your target audience is critical and one way to do that is through social media.

But wait! Before you decide to open a profile on the most popular networks, you need to study which ones your ideal client prefers.

Social media give you the possibility of creating communities around a theme, which facilitates the loyalty and connection of users with your brand. Once you define the social networks you will use, you can create strategic content that provides value to visitors.

Over time you will see how the investment you made will be rewarded.

7. Digital marketing strategy

The digital marketing strategy is closely linked to the previous point. If you have a business you must promote yourself, and no customer will go to your store on their own.

This happens in the physical and online world, so it's time to think about marketing. 

Focus on creating strategies that allow you to identify the needs of your customers to offer them solutions through your products. This doesn't mean that you will sell directly to them, but that you will create content that will be useful in their daily lives.

For this you can use your social networks and the blog of your website. Once they have gone through the marketing funnel you can offer them your product or service in a more natural way.

What should I do to develop my digital business?

The best digital business models today 

Digital businesses offer many models that fit the characteristics of the project. 

Before you go, take a look at some of the most popular business models currently in use. Maybe one of them is right for you:

1. Advertising

This is the basic model and is used by many media companies.

The way it works is simple: you constantly create valuable content that attracts visitors to your website. After you have a community of thousands of people you will monetize the spaces on the page through advertising.

Advertisers will see the characteristics of your audience and if they fit their needs they will not hesitate to pay to appear in your project.

2. Freemium

We love the freemium model because it brings together the best of the Internet. On the one hand it offers you free content that entertains or gives solutions to the user about a specific problem.

However, if you want to know more about it, you will have to pay a periodic fee and you will receive specialized content. Many businesses have implemented it, since they don't need millions of visits to obtain income.

4. Subscription

It's similar to the Freemium model. The customer accesses certain benefits after paying for the service, although in most cases there's no free benefit at the beginning.

It's used by large companies that have already gathered a significant audience, exemplified by cases such as HBO, Netflix and many others. 

The best digital business models today 

Now you know what are the elements you should take into account before starting your digital business. Take note and do not leave any of them out if you want to stand out from the great competition that exists today.

Have you already launched your digital business? Tell us about your project, we are sure we will be proud.