Similar to other European countries, Romania is no stranger to the information revolution. Numerous businesses have already enjoyed a great deal of success after transitioning into the online community, and yours could very well be next.
What are some things to become aware of before the “big move” takes place? Are there any practical hacks that can provide you with an edge? Without becoming overly technical, we will examine a few unique strategies. You can then implement the relevant changes when the time is right.
First Impressions Count
Think of your website address as the first step within the overall conversion process. Visitors need to be made aware what you are offering, and why your business is different from any competitors. This is why choosing a catchy domain name is crucial. The good news is that you are not alone if you happen to brainstorm to little avail. Why not instead employ a domain checker optimised for small businesses? You can determine which addresses are available, and even select from a host of popular suffixes (such as .com and .org).
Define Your Customer Base
While Romania is not ranked within the top five countries to start an online business, this nation still represents a burgeoning marketplace. This is particularly relevant when we consider that corporate taxes tend to be lower when compared to other nations such as the United Kingdom or the United States. It could therefore be wise to consider expanding into foreign marketplaces to further maximise your profit margins. However, analyse the potential demographics in advance. You can then develop a powerful advertising strategy.
Spend Smart
According to recent studies, the costs associated with digital marketing throughout Romania are predicted to increase significantly well into the future. Although this could place a strain upon tight budgets, it also represents an opportunity for businesses that appreciate how to channel their funds in the most efficient manner. Here are some effective ways to leverage the scope of digital advertising:
- PPC (pay-per-click) campaigns.
- Developing a solid social media presence.
- Partnering with a third-party marketing management firm.
- Keeping ahead of the latest SEO techniques.
- Regularly performing competitive analyses.
As the expression goes, it pays to work smart as opposed to hard.
Strength in Numbers
Successful businesses will normally require a fair amount of capital; particularly during the first five years of operation. This is why a growing number of owners have turned towards the notion of crowdfunding to meet specific financial targets. In fact, the European Economic Community (EEC) strongly supports this approach due to a potentially high return on investment. If you find it difficult to make ends meet, it could be prudent to consider crowdfunding as a viable alternative. The results could amass quicker than you think.
Even if the advice outlined above is followed, it will still take time to create a business from the ground up. The good news is that options abound, and there are plenty of ways to enjoy long-term success.