Why Every Small Business Needs to Invest in Online Marketplaces - Best Webhosting

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The SVP of Channel Partners at PayPal gives three tips on how to make money online when your brick and mortar is at limited capacity or temporarily closed. Subscribe to GoDaddy on YouTube: http://bit.ly/GoDaddy-Subscribe

0:27 Can you run a business without a website?
0:43 Do you need a website in 2021?
1:02 Where is the best place to sell products online?
1:33 Using PayPal or Venmo for business
1:44 Importance of referrals to grow your business

When it comes to generating revenue during the pandemic, getting your business online is a digital move you can’t afford to skip. PayPal executive Dan Leberman urges small business owners to shift their products and services to online marketplaces, which might include a website. But for new brands who are looking to sell online quickly, there are many types of marketplaces to consider when creating a new website isn’t an option. By taking a look at the nature of your business, your assets and what makes your brand unique, you’ll be able to drive demand simply by being seen on these channels. And once you hit the ground running in online sales, that’s when it’s crucial to allocate marketing dollars to create a website and promote your business in additional ways. Tools like PayPal and Venmo are becoming common payment sources for customers to easily purchase virtual services. Last but not least, Dan points out the importance of an incentivized referral program for your customers to grow your business in a scalable way. As you consider how to grow your business and revenue in a digital environment, it’s crucial to take advantage of online marketplaces and being seen where your customers are shopping. Don’t get left behind in this new era of digital movement for small businesses.

References:

48% of small-business owners with websites opened an online store since the start of the pandemic. https://www.bluehost.com/blog/new-survey-finds-small-businesses-are-resilient-and-adaptable-despite-global-pandemic

1 in 3 small businesses don’t have a website. https://www.prnewswire.com/news-releases/more-than-one-third-of-small-businesses-have-no-website-survey-finds-300803983.html

46% of American companies now rely on marketplaces for their online sales. https://www.dcvelocity.com/articles/47399-online-marketplaces-seize-growing-revenue-share-during-pandemic-e-commerce-boom

Consumers referred by a friend are 4x more likely to buy. https://review42.com/referral-marketing-statistics

Learn more about PayPal:
https://www.paypal.com/us/home
https://www.facebook.com/paypalusa
https://www.instagram.com/paypal
https://twitter.com/paypal

Resources for Small Businesses:
Venture Forward study: https://www.godaddy.com/ventureforward
Up-to-date info on COVID-19: https://www.cdc.gov
COVID-19 resources and grant information: https://www.covid19businesscenter.com

The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.

#BusinessDevelopment #GoDaddy #SmallBusinessNewsandTrends #PayPal

Published: Monday, April 12, 2021 11:10 PM
Category: WebHosting GoDaddy

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