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If you’re one of the brave entrepreneurs who has ventured to open a food or drink business, you know that success in the field means more than just cooking up a great dish. In this high risk, high reward field, branding and marketing play as big of a role in building your reputation as the great tasting goods that you have to offer. With so many people turning to the internet for advice on what or where to eat, you want to makes sure that you have a website that’s as appetizing as your signature dish! Check out these inspiring food entrepreneurs that took a creative spin on the kitchen circuit to serve up mouth watering business ideas. Amy Waldman | Puree Artisan Juice Bar Raw food advocate Amy is not only a small business owner, she’s an inspiration for anyone looking to lead a healthier lifestyle. Having lost 90lbs on a raw food diet, Amy decided to spread the word and open Washington DC’s first & only 100% organic, raw vegan, fresh, cold-pressed juice bar; try saying that in one breath! Under the guidance of cleanse specialist, Lauri Bosserman, Puree Artisan Juice Bar  puts clients on the right track to health. Hooked on her new lifestyle, Amy turned to Wix to spread the good word about raw juicing to as many people as she can: “Wix has lots of great apps that streamline our events, for example, which is a big part of getting the word out… Wix enables me to keep control over the site, changes and updates while looking professional and clean. And it’s fun!” Jodie Graham | The Choc & Rock Lolly Buffet Owner of what she called “The Sweetest Little Lolly Buffet in Brisbane”, Jodie Graham has taken her love of lollies to a whole other level. With The Choc & Rock Lolly Buffet, Jodie owns a catering business that creates beautifully made sweet tables for any occasion. Having created a site with a different web design platform in the past, Jodie chose to turn to Wix based on the professional looking design options: “Wix has given me a more professional presence on the web – whereas my previous website looked very amateur. The main challenge in my business is to get our name out there, and by having a professional looking website Wix is helping with that”. Steven Rasovsky | Lenka Bar The Rasovksy family’s snack bar business is as homegrown as you can get – literally. From their modest beginnings of baking all natural granola bars right in mama’s kitchen to their newly established full-fledged commercial production facility, Lenka bar proves that there’s no limit to where a good product can go. With the help of Wix, Lenka was able to turn their homegrown operation that could only deliver within a 200 mile radius, to a household name that can be found in coffee houses across America. Are you a Wix user with a great story to share with us? Submit your own Wix Story!

Email marketing is one of the most effective methods for reaching your target market and keeping them engaged. Small business owners, artists, bloggers, service providers and brands of all kinds rely on this mode of communication to strengthen their online presence, increase their traffic (once they create a website ) and gain more business. In addition to being amazing marketing strategies , email campaigns and newsletters are also fun to work on. But creating them can get a little challenging. It’s not easy to come up with so many different topics to communicate about! But worry not, dear reader. We created this useful list of effective newsletter ideas that will inspire you to create many, many great newsletters. And, a tool like Wix Email Marketing helps you create a stunning newsletter in a flash. Now you only have one tricky question to answer – which one should you start with? 30 newsletter ideas your audience will want to read Send a holiday greeting Introduce a new product or service Share real customer success stories Reveal a new design Offer a contest Run a limited time sale Invite to a real-life event Solicit feedback Announce exclusive coupon codes Examine a case study Deliver a message from the CEO Share advice Show off your most popular products Celebrate an anniversary Present an end of season sale Connect on social media Create a Top 10 list Give subscribers first access Follow up after a sale or interaction Provide a solution to a common or trending problem Recommend do's and don'ts Distribute a weekly or monthly recap Support and promote a social cause Advertise an upcoming webinar or course Share a personal story Make them laugh with fun facts Answer FAQs Tap into media buzz Give a free download Inspire with a guest author 01. Send a holiday and seasonal greeting The annual calendar provides many great opportunities to reach out to your subscribers – from Thanksgiving to the summer solstice. Find a nice angle that ties in your specialty with the essence of the event, create a newsletter design that matches the occasion, and you’ve got a holiday marketing email campaign going. Subject line example: “New Spring Fashion You Just Can’t Miss” 02. Introduce a new product or service When you make a newsletter , look for opportunities to announce new products. A new launch is always exciting. Share the news with your subscribers and show off what you got. Add enticing visuals that will get them eager to try it out for themselves. Oh, and it’s always a nice idea to add a coupon code as a treat. Subject line example: “Introducing: Wave Speakers – A Whole New Way to Experience Music” 03. Share success stories of real customers Your happy customers are your best advocates and most effective ambassadors. Share one of their success stories with the rest of your audience. It’s a triple win situation – you get to showcase your brand’s potential, your loyal customer gets exposure and encouragement, and your readers get inspired by someone else’s achievements. Subject line example: “How Dana Increased Her Conversion Rates by 92%” 04. Reveal a new design/look/logo This may not seem like such an important issue, but sharing updates about a new look is actually a wonderful way to connect with your subscribers. You can invite them to share their feedback and use the opportunity to explain how the new design represents your brand identity. Subject line example : “Breaking News: Our Homepage Just Got a Makeover & It’s a Knockout!” 05. Offer a contest Draw your subscribers in with a hook by promising them a chance to win a cool prize – it could be a voucher for your online store, a special basket filled with the best of your products, a free consultation session, or any other reward that is unique to what you do. Subject line example: “We’re Giving Away 10 Tickets For Our Upcoming Tour. Come Get Yours” 06. Run a sale for a limited time only A sense of urgency is a great incentive for action from a newsletter . Create a short-term campaign with a defined end point – preferably no longer than 2-3 days – and announce it to your subscribers with a motivating message. A terrific advantage of this type of campaign is that you can send not one but two emails; one announcing the promotion and one just shortly before it ends, as a last push and reminder. Subject line example: “Madness Sale! 50% Off For 48 Hours Only” 07. Invite subscribers to a real-life event Show your audience that you’re interested in strengthening your relationship by inviting them to an event. It can be a meetup at your brick-and-mortar location, a conference presentation, a block party your brand is involved in or other opportunities for face-to-face engagement. Subject line example: “Wanna Meet? Let’s Chat and Exchange Fashion Tips Next Week” 08. Solicit feedback Open the lines of communication and invite your subscribers to share their thoughts, reviews and suggestions with you. You can design the email with an integrated form, ask guiding questions or leave it more open. Initiating this type of conversation will show your audience that they have your ear while reinforcing your brand’s trustworthiness. Subject line example: “A Penny for Your Thoughts? Help Us Get Better at What We Do!” 09. Announce exclusive coupon codes for subscribers Your subscribers deserve a special gift. Treat them to an exclusive bonus and send them a coupon code to use in your store or website. They’ll appreciate the VIP treatment. Subject line example : “Here’s a little thank you. Hope you like it!” 10. Examine a case study Case studies draw much interest, especially when they hold real insight and practical benefit for readers. In this case, your newsletter will introduce a case in which your product or service proved especially valuable. The purpose is to show your readers that you can do the same for them, by narrating the process the challenges brought about in that particular case study. Subject line example: “How We Helped Mark and Jane Plan the Wedding They Dreamed Of” 11. Deliver a message from the CEO Extending a personal word from the movers and shakers of your company generates an air of distinction. It’s not every day that newsletter subscribers get to hear directly from the people on top. If you want to try this approach, make sure you create an email with unique content that is appropriate for the occasion. You don’t want to lure readers in and then under deliver. Subject line example: “A Personal Word From Our CEO” 12. Share advice As an expert in your field, you are in a unique position to share insights and knowledge with your readers. You can choose to send a list of quick tips that revolve around a particular topic, or a longer tutorial to guide your subscribers step-by-step through a specific action. Subject line example: “The Complete Guide to Baking a Failproof Pie Crust” 13. Show off your most popular products (and why people love them) This email topic works on a very basic human concern – FOMO, or Fear of Missing Out. People want to know what others are up to, what the current trends are and what they need to do to stay “in.” By revealing the most popular products, you’re sharing the wisdom of the group with the individual. It’s also a terrific opportunity to showcase the amazing qualities of your products by explaining what makes them so popular. Subject line example: “Introducing Our Best-Selling Headphone Sets” 14. Celebrate an anniversary Your brand’s anniversary is coming up and it’s definitely a reason to celebrate with a special newsletter. Use this opportunity to thank your audience for their support, to share a funny story from the early days and maybe even offer a special anniversary deal as well. Subject line example: “It’s Our 10th Birthday! Let’s Celebrate Together” 15. Present an end of season special Every experienced consumer knows that end of season specials are something to look forward to. Would they miss out on an opportunity to see what great merchandise you’re offering? Not if you hook them with a gorgeous email about it. Subject line example: “The End-of-Season Sale You’ve Been Waiting for all Summer” 16. Connect on social media Why limit your interactions with your audience only to one platform? Write a newsletter and invite your subscribers to follow your social media pages (and vice versa!). Make sure they realize that connecting with you on Facebook, Twitter, Instagram, etc. actually offers your readers added value. It can be chat support, exclusive visuals, or access to social raffles. Subject line example: “Follow Us on Instagram to Get a Sneak-Peak of our Latest Designs” 17. Create a “Top 10 list” Lists are a superb form of content that has great potential for virality. Readers love to share lists that they believe could be interesting to their friends. With a good list, your subscribers will happily click the Fwd button and do their share in promoting your brand. Subject line example: “10 Mistakes You’re Making That are Killing Your Plants” 18. Give subscribers first access Are you launching a new feature, a new website or a new physical location? It’s a great opportunity to get in touch with your subscribers and invite them to be the first to check it out. They’ll be grateful for the personal treat, and you’ll get to give your new baby a trial run. Subject line example : “Be the First to Try Our New Fruity Flavors!” 19. Follow up after a sale or interaction Clients love to see that their experience and opinion matters. When you reach out to them shortly after they made a purchase, visited your store or contacted your customer care, you are showing them that you value their input. Subject line example: “How Did We Do? Share Your Experience With Us.” 20. Provide a solution to a common or trending problem Lifehacks are always popular. In this era of digital information flow, we’re already used to going online to find quick answers to questions that constantly nag us. When these solutions happen to arrive into our inbox, we’re definitely going to take a peek. Subject line example: “We’ve Got What You Need to Get the Results You Want.” 21. Recommend dos and don’ts Present yourself as an authority in your business area with a Dos and Don’ts list that gives your readers substantive guidance. Do’s and Don’ts offer advice based on conclusions from past experience. This is the type of instruction that readers truly appreciate and are happy to follow. Subject line example : “The Do’s and Don’ts of Home Design.” 22. Distribute a weekly or monthly recap Depending on the volume of your activities and the type of business you’re in, sending out regular recaps of the past week or month could be extremely valuable in keeping your audience engaged. This email genre can be useful for musicians on tour, for venues with a changing schedule or for non-profit organizations that support a certain cause. Subject line example: “[Monthly Roundup] What We Were Up to in April.” 23. Support and promote a social cause If you’re active with a charity or non-profit organization, share your passion for their cause with your newsletter subscribers. This is a great way to present your brand’s personal side and show your audience that you are committed to making the world a better place. Subject line email: “Why We Spend Every Second Saturday Volunteering at the Dog Shelter.” 24. Advertise an upcoming webinar or online course You have more than one way to share your knowledge with your subscribers. Have you ever considered creating a webinar or an online course, offering to train them as experts in their own right? You can even invite guest speakers related to your field to increase your audience’s interest. Subject line email: “Join Me for a Webinar: Introducing Portrait Photography Basics” 25. Pull back the curtain with a personal story A personal tone of voice is an important aspect of email marketing . People relate better to real people, so it’s always good to show them the person behind the brand. You can share a story about how you started to become a professional in your field, or about a special individual in your life that influenced your vision. Subject line email: “Cycling Changed my Life. Now I’m Committed to Helping Others to Do the Same.” 26. Make them laugh with fun trivia facts What are some interesting, poppy trivia bits about your brand, your industry or your organization that no one knows? Prepare a short list of fun facts and keep it light but interesting. Aim for the type of trivia knowledge that people like to share over coffee at work. Subject line email: “Which President Was Addicted to Scones & More Fun Facts From Pastry History.” 27. Answer FAQs What are the most common questions or concerns that you believe affect your target market? This newsletter example will not only allow you to show that you are an attentive business owner by addressing them in advance. It also gives you a terrific content platform to highlight the advantages of your product or service. Subject line email: “Frequently Asked Questions About Mortgage Financing, Answered by Our Consultants” 28. Tap Into Media Buzz If you notice a trending issue in the media that you think has relevance to your brand, be spontaneous and take the opportunity to create an impromptu newsletter and tap into that buzz. Preparing for the season finale of the most popular TV show? Responding to a viral meme that’s breaking the internet? Go wild! Subject line example: “Is Beyonce Copying Our Latest Collection?” 29. Give a free download Downloads and digital products are a powerful incentive because they offer an immediate result. Musicians, digital artists, authors and other creatives can share a downloadable link (or even better – refer readers to their website for a download) and give a sample of their latest work as an exclusive offer to subscribers. Subject line example: “Available Here Only: Hear Our Latest Track Before Everyone Else” 30. Inspire with words of wisdom from a guest author Think of an individual whose experience and talent has special bearing on your own field and your own professional development, someone whose words can be of great interest to your followers. Invite them to author a guest email and offer to return the favor :) Subject line example: “Our Favorite Author Shares Her Winter Must-Reads With Us”

Set your business up for success by  starting your LLC with LegalZoom →  An LLC, in a nutshell, is a business structure that offers its owners legal protection by limiting their personal liability. Unlike with sole proprietorships, if your LLC faces bankruptcy or lawsuits, your personal assets (like your home or car) are protected. An LLC is also one of the more flexible types of business structures that can be owned by one or multiple people.  When you’re starting a business , one of the first decisions you’ll have to make is how to structure it. While you’ve got a variety of options to choose from, a limited liability company (LLC)  is often a popular choice.  In this blog, we’ll explore the advantages of starting an LLC  in greater detail and help you decide if it could be the right choice for you.  What are the main benefits of an LLC? Whether you’re pursuing a single-member LLC or a multi-member LLC, this business type  can offer several key advantages:  Personal liability coverage Tax advantages Flexible ownership and management  Business credibility and trust 01. Personal liability coverage One of the top advantages of forming an LLC is the level of personal liability protection it offers. An LLC creates a legal separation between you and your business. In other words, the law sees your LLC as an independent business entity .  This means that creditors can't target your personal assets to pay off business debts or claims. You can rest assured that everything from your personal savings to your home is safe while taking on the risk of starting a new business. "One key benefit of an LLC is that it can protect a small business owner’s personal assets—like homes, cars, and personal bank accounts—from lawsuits against the business." - Shylene D’Addario, VP and associate general counsel at LegalZoom 02. Tax advantages Unlike other business structures, LLCs can choose how they want to be taxed—which, in turn, can lead to significant tax savings.  As an LLC owner, you can elect to be taxed as a sole proprietor or corporation (C corp or S corp). Unless you choose to be taxed as a C corp, you do not have to pay corporate taxes and can avoid double taxation.  "LLCs offer the flexibility of filing taxes as a sole proprietorship, partnership, or corporation." - Shylene D’Addario, VP and associate general counsel at LegalZoom An LLC can specifically choose from these tax classifications:  Sole proprietorship (a.k.a. “disregarded entity”): Single-member LLCs are automatically considered disregarded entities for tax purposes, meaning the LLC itself does not pay taxes. Instead, all profits and losses are reported on the personal income tax return (Form 1040) of the owner via Schedule C. Partnership: Multi-member LLCs are automatically classified as partnerships for tax purposes. In a partnership, the LLC files an informational return (Form 1065), but the company itself does not pay income tax. Instead, profits and losses are passed through to the members, who report their share of the LLC's income or losses on their personal tax returns. C corporation: An LLC can elect to be taxed as a C corporation by filing IRS Form 8832 (Entity Classification Election). As a C corp, the LLC files a corporate tax return (Form 1120) and pays taxes on its profits. This creates a scenario where profits can be taxed twice: once at the corporate level, and again at the individual level when dividends are distributed to the members. However, this option allows members to reinvest profits into the company at the corporate tax rate, which might be lower than the individual tax rate, and it offers benefits related to tax-deductible employee benefits. S corporation : An LLC can elect to be taxed as an S Corporation to avoid the double taxation faced by C corporations while still enjoying pass-through taxation. This is done by first filing Form 8832 to be taxed as a corporation, and then Form 2553 to be treated as an S Corporation. S corp status allows profits (and some losses) to be passed through directly to owners' personal income without being subject to corporate tax rates, while still allowing owners to be paid as employees of the LLC. However, S corps have restrictions on the number and type of shareholders and shares. Remember that tax laws are complex and can change frequently. It's always wise to consult with a tax professional to ensure you're taking full advantage of the tax benefits available to your LLC. 03. Flexible ownership and management LLCs offer a flexible ownership and management structure, which may be particularly appealing if you prefer less formality and more freedom in how you run your business.  In terms of ownership, you can have as many owners as you’d like and divide up ownership as you wish. Not everyone has to put in the same amount of money to own a part of the company—people can also be rewarded for what they know or what they do. Neither ownership nor share of profit needs to be directly proportional to a person’s capital contribution.  It’s also fairly easy to change who owns parts of the business and/or to bring new people in. These changes can typically be facilitated through changes to the LLC's operating agreement and, depending on state laws, may just require filings with the state. Unlike corporations, there's no need for a formal board of directors or annual meetings, either. You can choose to manage your LLC yourself (member-managed) or appoint managers (manager-managed). You can be as hands-on or hands-off as you please, with the latter option allowing owners to take on a more passive investment role.  That said, many states will assume that your LLC is run by its members unless otherwise noted in filings with the secretary of state (or the equivalent governing body). 04. Business credibility and trust Forming an LLC not only provides legal benefits but also boosts the credibility of your business. Establishing yourself as an LLC can instill confidence in potential customers and partners by showing that you're a serious entity.  Plus, once you register your LLC, your name is typically protected within the state. You can additionally open up a business bank account for your LLC to keep funds separate from personal bank accounts, and stay on top of your finances.    Tip:  You can build upon this credibility by using a .llc domain extension  for your domain name when making a website . Learn more about how to build a website with our guide. Potential disadvantages of an LLC While LLCs offer many advantages, they also come with certain drawbacks. These include: Potential limitation on investment opportunities.  Investors often prefer to put their money into corporations rather than LLCs due to the ease of transferring shares and the established hierarchy within corporate structures. Self-employment taxes.  Members of an LLC are considered self-employed and must pay Social Security and Medicare taxes, which can be higher than what corporate employees pay. Some stages may also require annual fees or franchise taxes that can add up over time. Start-up costs and ongoing fees:  Forming an LLC typically involves higher initial costs and ongoing fees than sole proprietorships or partnerships. These can include filing fees for the articles of organization, annual report fees and potentially higher state-specific taxes and fees. LLC costs vary by state. Learn more: Cost to start an LLC Limited ability to raise capital:  Unlike corporations, LLCs cannot issue stock to attract investors. This can limit an LLC's options for raising capital and might make it more challenging to grow the business or fund new initiatives. Dissolution upon member departure : In some states and under certain conditions, an LLC might be required to dissolve if a member leaves, unless the operating agreement specifies otherwise. Note : LLCs are subject to state regulations, which means the advantages and disadvantages can vary depending on where you form your LLC. Each state has its own rules regarding things like formation costs, statutory requirements and taxation. Learn more: How to start an LLC in California How to start an LLC in Florida How to start an LLC in Texas How to start an LLC in Illinois How to start an LLC in New York How to start an LLC in New Jersey How to start an LLC in Alabama How to start an LLC in Missouri How to start an LLC in North Carolina Benefits of an LLC vs. sole proprietorship When comparing an LLC to a sole proprietorship , there are some key differences to consider, especially regarding liability and formalities. Formation: When starting a sole proprietorship, there's no need to file formal documents with the state. However, to start an LLC, you’ll need to file formation documents with the state, which comes with higher initial costs and potentially ongoing fees, but offers a formalized business structure. Liability: Sole proprietors don’t offer any separation between personal and business assets, meaning personal assets are at risk if the business incurs debt or is sued. LLCs provide limited liability protection, shielding personal assets from business debts and legal actions. Taxation:  Both structures offer pass-through taxation, but sole proprietors don't have the option to choose corporate tax treatment. Business perception: Sole proprietorships may be perceived as less formal or established, whereas LLC are often seen as more credible, which can enhance relationships with external parties and open up more opportunities for growth and financing. Continuity and transferability:  In a sole proprietorship, the business does not have a separate legal existence from the owner, so it ceases to exist upon the owner's death or departure. LLCs can have a perpetual existence, making it easier to transfer ownership and continue operations beyond the involvement of the original members. Benefits of an LLC vs. corporation (S corp and C corp) Corporations  are more complex entities than LLCs and come in two main forms: S corporations (S corps) and C corporations (C corps) . Each has distinct features in terms of taxation, ownership and governance. Formation: Corporations require a board of directors, regular meetings and formal minutes. Incorporation also involves more paperwork and higher initial and ongoing costs. LLCs are easier to form and are not bound by these formalities. Taxation : C corps face double taxation while S corps have pass-through taxation. However, S corps have strict eligibility requirements. LLCs, on the other hand, provide more flexibility with pass-through taxation by default—but can elect to be taxed as a C or S corp if that’s more beneficial. Ownership:  Corporations can issue stock, which can be an advantage for raising capital. LLCs do not issue stock but offer more flexibility in profit distribution. Management: Corporations require a formal management structure with a board of directors that oversees corporate affairs, plus officers who manage daily operations. This structure is more rigid but clear-cut. LLCs offer flexibility in management; members can manage the LLC (member-managed) or appoint managers to do so (manager-managed), which can include members or outsiders. Continuity and transferability: C orporations generally enjoy perpetual existence, meaning the corporation can continue to exist despite changes in ownership or management. The continuity of an LLC can be more dependent on the members' wishes. While many are set up for perpetual existence, some states have laws that require an LLC to dissolve upon certain events, such as the departure of a member, unless the operating agreement specifies otherwise. Is an LLC worth starting? An LLC could certainly be worth starting if you’re looking for liability protection and are seeking a relatively easy-to-start and easy-to-maintain business structure. However, you’ll want to weigh the pros and cons of starting an LLC.  An LLC, for example, offers lots of flexibility—but a corporate structure may offer more advantages if you plan on seeking external investment or eventually going public.   Ultimately, the decision should be based on a thorough assessment of your business plans, financial goals and legal factors. It’s always a good idea to consult a legal and/or tax expert for personalized advice tailored to your specific situation.  Need help setting up your LLC? Wix has partnered with LegalZoom ,  the No. 1 choice for online business formation to help you start, run and grow your business. The basic steps of starting an LLC Starting an LLC involves several important steps, from choosing a name to filing the necessary paperwork with your state. Here's a quick overview of the process. Choose a name:  Make sure your desired business name is available and complies with state rules. Use a business name generator  for inspiration, and check your state business records as well as the United States Patent and Trademark Office's (USPTO) online database for any registered businesses or trademarks for that name. Register your business: Check your local and state government for specific requirements for starting an LLC. You’ll typically have to register your business with your secretary of state (or an equivalent governing body). Sole proprietors and partnerships may need to file a "Doing Business As" (DBA) name. Obtain an employer identification number (EIN):   Most business types will need to obtain an EIN from the IRS for tax purposes, especially if you plan to hire employees. You can apply for an EIN online through the IRS website for free. Apply for necessary licenses and permits: Depending on your business type and location, you may need specific licenses or permits to operate legally. Check with your state’s business agency, as well as local city or county offices, to determine what’s required. Designate a registered agent: Select an individual or service authorized to receive legal documents on behalf of your LLC. Create an operating agreement:  Although not always legally required, it's highly recommended to have one in place. An operating agreement puts verbal agreements into writing, helping to avoid misunderstandings among members by clearly outlining the LLC's rules, financial arrangements and procedures. Register for taxes : If your state has a sales tax or if you will have employees, you’ll likely need to register with your state’s department of revenue or taxation. This registration process varies by state. Comply with ongoing requirements : Be aware of any ongoing reporting or renewal requirements, such as annual reports or franchise taxes, to keep your business in good standing. The benefits of having an LLC operating agreement As noted above, an operating agreement may not be legally required to start your LLC. But this document can be especially helpful if you have multiple members or plan to approach lenders or investors.  An operating agreement outlines the ownership and operating procedures of your LLC, helping to prevent misunderstandings among members. It typically describes things like:  Ownership percentages:  Details each member's share of the LLC. Voting rights : Establishes how decisions are made and who gets a say. Membership changes: Defines the process for adding new members, transferring membership interests, what happens if a member wants to leave or if a member passes away—and any restrictions on these actions. Profit distribution : Clarifies how profits and losses are shared among members Management: Specifies whether the LLC will be member-managed or manager-managed. Rules for record-keeping: Details the requirements for record-keeping, including what records must be kept, where they are stored and how they can be accessed by members. Dissolution: Specifies the conditions under which the LLC may be dissolved and outlines the process for winding up the business, including distributing assets.

The phrase "The customer is always right” may have started simply as a department store’s slogan in the early 1900s, but it has evolved into the core motto of the society we live in. You may have put your heart and soul on starting a business and creating a website to offer your services or products, but if the results are not as expected, it’s you, not your customers, who needs to change. This means you need to be able to identify every pain point of the customer journey to figure out where people are losing interest in your offering. Then, you’ll want to adapt your product based on their feedback and assess whether the problem is solved. The marketing funnel will give you all the tools and data you need to do so. Read on to learn all about this powerful process and why you should implement it across all of your marketing strategies , marketing ideas and marketing channels . What is the marketing funnel? The marketing funnel, also known as the purchase funnel, is a visual representation of all the steps a visitor has to go through before they purchase a product or service. Its origins date back to 1910, when American philosopher John Dewey introduced the five stages consumers go through before, during, and after purchasing a good or service. This buyer decision process included the following stages: Problem/need-recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Over time, this idea evolved into the contemporary marketing funnel, which focuses on the different stages from the moment people first hear about a business to the moment they make a transaction. But why is it referred to as a funnel? Marketing efforts don’t involve getting people to buy right away. Instead, they start with capturing leads - potential customers who show interest in the brand. When companies turn anonymous strangers into leads, they’re drawing them into the mouth of the funnel. Then, they continue marketing to these leads with the goal of getting some of them to buy. Of course, only a fraction of leads will actually purchase the product. As they advance through the different stages of the buyer decision process, some of them will abandon the effort without ever getting to the purchasing stage. Thus, the crowd thins, and the resulting visual representation of this process forms the shape of a funnel. Benefits of the marketing funnel Now that you know what the marketing funnel is, you’re probably wondering if you should start using it as part of your small business marketing strategy. Ask yourself the following question: Do I have a service or product I intend customers to purchase? Do I have a stellar go to market strategy for my product? If the answer is yes, then you definitely should. As a business, your success does not only depend on the quality of your offering, but also on the way in which it’s presented and marketed to consumers. Everything from your website layout and color scheme to the packaging of your products and brand marketing also plays a huge role in your customer’s journey through the marketing funnel. How you choose to promote your website will also impact on this. Some specific brand and business metrics using the marketing funnel can help improve include, increased brand awareness, increased brand loyalty, higher customer lifetime value, and improved customer satisfaction. Having a clear view of a customer’s journey will allow you to identify any roadblocks that hinder their progress through the funnel. Based on this data, you can make changes to eliminate these barriers and improve your conversion rate - whether it’s by making your website more user-friendly, creating a social media campaign, opting to use more personalized marketing or promoting on different channels. That’s why funnel marketing is so effective. The marketing funnel can apply to any type of marketing. From digital marketing, and online advertising, to using landing pages. From referral marketing to mass marketing including viral and influencer marketing. From traditional to disruptive, to super strategic marketing , the funnel is relevant and effective across marketing channels and strategies. That's part of what makes it so impactful across both marketing and entrepreneurship. Research and the marketing funnel Research is an essential part of making the marketing funnel work most effectively. Before even working through its different stages you should make sure that your understanding of your target audience, and your user experiences are up to date. Your marketing research should be extensive and comprehensive in order to apply it to the funnel for most impact. Refine your market research, both quantitive and qualitative. Stages of the marketing funnel While the overall framework of the marketing funnel has remained mostly unchanged for more than a century, there isn’t a global consensus on the different stages. Here, we’ll discuss the various stages represented in the marketing funnel template above. These stages include: Awareness Interest Consideration Intent Evaluation Purchase 01. Awareness Awareness - located at the top of the marketing funnel - is the first stage. This is the point where customers first learn about your brand, and it’s where lead generation takes place. To build awareness, develop targeted marketing campaigns that are geared toward people who may need your product. Be sure to use market segmentation to create tailored campaigns for each customer type. Think about writing press releases as part of this step. Then, use lead capture forms to get their contact information (typically their email address) so that you can continue marketing to them. This is one of the most important lead generation strategies , as you'll be using their contact information to reach out to them and guide them through the rest of the marketing funnel. 02. Interest Leads who show an interest in your business move onto the next stage of the marketing funnel, aptly known as interest. At this point, lead generation turns into lead nurturing as brands start to establish a connection with all the contacts gathered during the previous stage. One of the most effective ways to build interest is through email marketing . This allows you to start building relationships with leads by reaching out to them directly with relevant, branded content. 03. Consideration In the consideration stage of the marketing funnel, the consumer is evaluating the different methods that are available to them to address their needs. At this point, they already know about your offering and are familiar with your brand. Now, it’s your job to convince them that a product like yours presents the best solution to their problems. To do this, try using marketing automation software to send targeted email campaigns with actionable intent, such as free trials and sales announcements. Another popular funnel marketing technique is to offer them informational content, such as blog posts and webinars, that addresses their needs while gently guiding them toward your product. 04. Intent Ever left something in your online shopping cart and received an email about it a day or two after? That’s what entering the intent stage feels like. Prospective customers (known as prospects) move to the intent stage once they demonstrate a clear intent to purchase a product, such as by contacting a customer service representative, trying out a product demo, or adding an item to their shopping cart. This doesn’t mean that they are going to buy right away, but it does indicate that they are primed for the purchase. With that in mind, the intent stage is the time to prove why your offering is the number one option for the prospective customer. You’ll need to target them with marketing materials that make a strong case for why your product is better than your competitors’. 05. Evaluation The evaluation stage of the marketing funnel is where lead nurture meets sales. Here, the prospective customer is making the final decision about whether or not to buy your product. In this stage, marketing and sales teams must work together to convince prospective buyers to take the leap and make a purchase. Much like the previous stage, the focus is kept on positioning your business’s offering as the ideal choice. 06. Purchase The pot of gold at the end of the marketing funnel rainbow is known as the purchase stage. This is where prospects finally decide to buy the service or product. At this point, sales teams take over to manage transactions. Be sure to use various sales psychology techniques to get inside your customer’s head and close the deal. Additional representations of the marketing funnel As we've discussed, the six stages above represent one of the most popular ways of dividing up the marketing funnel. Still, it isn't the only version. Other common variations of the marketing funnel include: AIDA: Awareness, Interest, Desire, Action TOFU-MOFU-BOFU: Top of the funnel (generating leads), Middle of the funnel (generating prospects), Bottom of the funnel (generating sales) Below, we'll also talk about how the marketing funnel differs slightly between B2B and B2C companies, as well as a variation known as the nonlinear marketing funnel. B2B vs. B2C marketing funnel The main difference between the B2B and B2C marketing funnel is the amount of people involved in the process and the level of interaction between businesses and consumers. In the majority of cases, B2C consumers navigate through the funnel alone with little to no direct interaction with the business. Customer outreach efforts are conducted by targeting large buying groups or by using marketing automation tools, and very few customers actually interact with a representative. On the other hand B2B consumers usually include more than five people from different departments. While the uppermost stages of the marketing funnel follow the same pattern as that of B2C consumers, in lower stages sales representatives establish direct communication with B2B consumers. Nonlinear marketing funnel The marketing funnel template above represents the nonlinear marketing funnel. While the cone-shaped marketing funnel has been the default for many decades, some experts argue that the market has evolved beyond linear buying processes. As a result, many businesses have started to leave behind the traditional cone in favor of one resembling a bowtie or hourglass. This type of marketing funnel aims to tackle the fifth and last stage of Dewey’s consumer decision processes: Post-purchase behavior. The upside-down cone shape starts with the few buyers who made a purchase and journeyed to the end of the traditional marketing funnel. From there, businesses look at the post-purchase customer journey, taking into account factors such as satisfaction, testimonials and feedback. The goal of this new funnel approach is to create strong relationships with customers, not only to ensure they don’t move to your competitors’ services, but also so they’ll become repeat buyers and loyal advocates of your brand. While there isn’t a consensus about the different stages of the nonlinear marketing funnel, it nonetheless remains a valuable way to gauge consumer behavior and optimize your marketing efforts. Whichever model of the marketing funnel you use, the most important factor is that your marketing plan strongly aligns with each stage of the buyer’s journey. Specific marketing methods to implement the marketing funnel There are many marketing strategies that can be applied to different stages of the marketing funnel in order to help it elevate your marketing efforts. Here are some of the most popular or impactful, in no particular order. Content marketing as well as user generated content SEO Online and traditional advertising Direct marketing Loyalty programs, including coupons and discounts Social media marketing and channels Testing and the marketing funnel Testing is an essential part of the marketing funnel and it should take place through every stage of the funnel. Here are a few examples of what that could look like, Awareness stage: At this stage, customers should be becoming aware of your product or service. Track metrics such as website traffic, social media engagement, and email open rates to understand this better. Consideration stage: Here, customers are considering your product or service and comparing it to competitors. Test the effectiveness of your marketing efforts at this specific stage of the funnel by tracking metrics such as click-through rates, conversion rates, and bounce rates. Decision-making stage: If they've reached this stage, customers are making a final decision to purchase your product or service. At this stage you'll need to focus on metrics such as sales conversion rates and return on investment, as well as customer acqiusition cost. To effectively test the marketing funnel, it's important to use different types of testing, including A/B testing, multivariate testing, and user testing. A/B testing involves testing two versions of a marketing element to see which one performs better, such as testing two different headlines in an email campaign. Multivariate testing involves testing multiple elements at once to see which combination is most effective, such as testing different images and headlines in a website landing page. User testing involves gathering feedback from actual customers to see how they interact with your product or service. Overall, testing is a critical component of the marketing funnel, helping you to identify what works and what doesn't, while being able to make data-driven decisions to improve your marketing strategies and increase sales. Frequently Asked Questions (FAQ) What are the different stages of the marketing funnel? Awareness, interest, desire, action and intention are the key stages of the funnel. Each one represents a step in a potential customers journey. How can I use the marketing funnel for my business? You can use it to increase the number of potential customers you have and to better move customers from marketing to sales. If you need to raise awareness and interest, social media marketing is an effective and popular way to do this with huge potential customer reach. Building desire can be done with emotive campaigns, think the bandwagon effect as well as with free demos and trials. Understanding what you need to do at each step of the funnel to improve customer retention, will help you move more potential customers through it. How do I track my marketing funnel performance? Each stage of the funnel will have different metrics to track - from website traffic, to traffic source and customer retention metrics, such as click through rate, time on page and so on. There are a number of tools you can use to track this, from Google Analytics to other popular options. What are some marketing funnel best practices? There are many, and often they'll depend very much on your brand and product. However a few key ones to remember include - consistency with your messaging, tracking your funnel performance and optimizing it based on what the data is telling you, don't neglect retention and repeat conversions, personalize the experience where possible.

Business writing isn’t quite the same as academic writing or blogging. When in a business setting, you want to make your point as efficiently as possible. For example, if you publish a blog, your audience likely expects you to write casually. However, when starting a business , your colleagues and partners expect you to skirt the familiarity and write more formally. Here, we’ll discuss different business writing types for small business owners , give you some common format examples, and share some best practices to improve your own skills. The best place to practice your business writing? Your own business website . Start one today and start growing online. What is business writing: a definition Companies use business writing when communicating both internally to colleagues, and externally to partners and clients. With business writing, purpose drives the content, whether an email, internal memo, report, or business proposal. The author writes concepts with a specific audience in mind, emphasizing its purpose or goal clearly and directly. Types of business writing Before we exemplify what business writing looks like, we need to understand the different categories business writing can fall under. Since purpose drives business writing, a writer’s goals break down into four types, each representing a specific professional goal. Instructional Informational Persuasive Transactional 01. Instructional Instructional business writing aims to help readers successfully complete an intended task, through outlined directions. For example, a user manual would qualify as instructional business writing, as would an email directing employees how to clock in for a shift. 02. Informational Informational writing clearly educates readers about an aspect of a business. This writing type might comprise documents that contain plans for the business, financial statements, or reports about the company. 03. Persuasive Rather than informing or instructing a reader, persuasive writing aims to make the reader feel or act a certain way. Marketers commonly use this business writing in their copywriting content , but others use it when drafting business proposals. 04. Transactional Most day-to-day business communications fall under transactional writing. This might include emailing a client or colleague to discuss a project, sending official business letters, and sending or receiving invoices and receipts. 8 business writing examples Each of these business writing examples could fall into different categories based on the four above, but each one still serves its own purpose. While the tone might change slightly in one business writing type over another, you can apply best practices to all forms to help your message come across as clear and professional as possible. Business proposal Business letter Email Business plan Resume and cover letter Business reports Memos Press release 01. Business proposal A company uses a business proposal to convince a potential client to buy their product or use their services. By nature, this document uses persuasive business writing to sway a client or potential partner’s thoughts and emotions in a company’s favor. If just starting a new business, you’ll find a well-written proposal can persuade a client to sign on or convince a partner to invest in your business growth . 02. Business letter You may need to write several types of business letters in different scenarios, and each one serves a different purpose. Some business letters include: A recommendation letter A resignation letter A thank you letter after an interview An apology from customer service A letter to offer a candidate a position Business letters can be external or internal, but in both cases, the writing style should be the same as a professional document. They can also be transactional and meant to raise awareness, or persuasive, like a recommendation letter. Business letters send a formal message. In most cases, it should follow the format of a traditional letter, so it should include elements like a date, the person or persons you’re addressing, the body text, and a signature. 03. Email One of the most frequently used communications in the business world, emails can take on many forms. Some may skew formal and ”‘by the book,” while others may take a more casual tone. Still, emails are business writing and one should treat them as such—especially when reaching out to clients, partners, or other people with whom you don’t have a personal rapport yet. Always make sure to write a relevant subject line, and use proper punctuation, spelling, formal greetings and salutations. 04. Business plan A business plan outlines a company’s overall goals for business development and states how it plans to achieve them. You might include similar elements to a business proposal, but internal employees usually refer to this plan when making important company decisions. Write out your business’s objectives and strategies clearly and precisely. Leave no room for interpretation when you need to refer back to them in the future. 05. Resume and cover letter Your resume and cover letter give your potential employer their first impression of you, so use the appropriate tone and demonstrate your business writing skills to stand out. Even with the right experience, potential employers will likely reject a cover letter with the wrong tone and grammar mistakes. In fact, according to a survey, recruiters share the following common pet peeves : Typos and grammar mistakes (59%) Casual tone (50%) Use of clichés and jargon (47%) Brush up on your business writing skills to avoid making these mistakes on your resume and cover letter. 06. Business reports A business report is an informational type of business writing that describes a project, investigation or performance summary happening within the company. With reports, the writer must remain objective and solely provide information on the subject, such as data, statistics, and background. 07. Memos A memo, or memoranda, is an informational piece of internal communication on a topic. They’re typically briefer than other business writing types, like letters, and often provide instructional information, such as a department notifying employees of a procedure change. Memos’ internal can be slightly less formal than a letter or other external communications, but should still reflect professional language and formatting. 08. Press release When a company needs to formally announce a new product, event, or company update, they’ll send out a press release. This document informs the public of important information related to your company. News and media publications often publish press releases on- and offline, and they play a large part in your company’s online reputation management. Since press releases are public, you need to ensure accuracy and that you convey your intended message. For example, if you publish a press release to respond to small businesses challenges you’re facing, you must write professionally, empathetically and concisely. Using a too casual tone can turn a bad situation even worse. Best business writing practices Regardless of format, apply these best practices in your business writing. Know your audience You first want to identify your audience when writing for business. An internal email to a colleague will likely use a different tone than a business report prepared for investors. Remember the five Cs Always ensure you write: Clearly : Be forward and precise in your message. Don’t talk around the subject—get straight to it. Concisely : Time is precious, so don’t use a lot to say a little. Keep it brief and to the point. Compellingly : Your writing should drive the reader to act. To do this, emphasize your core message and trim away the excess. Completely : Ensure your message provides all the information a reader needs, when they need it. Consistently : Keep your language, tone, voice, and format the same throughout all communications to avoid confusing or misleading the reader. Edit and proofread Always go over your text with fresh eyes to pick up on any typos or grammar mistakes and ensure you’ve addressed the five C’s (especially if using AI tools for business ). Don’t rely on spell checkers and grammar tools too heavily, as they don’t know your audience or intention. Steer clear of jargon Don’t use too many abbreviations or industry-specific terms that the average reader won’t understand. Unless you’re writing for experts who will have no issues understanding industry terminology, you should keep the language eye-level. Keep a scannable format Most times, readers will scan the headline and headers rather than read an entire piece of content. Use a format that allows your audience to grasp your intended message, even with just a glance at a document. Tips to improve your business writing You can’t master business writing overnight, but you can improve your skills right away with these helpful tips: Make a plan : Before writing your message, make an outline or jot down notes. You might also want to write one or more drafts before the final version to test different messaging. Practice : Even if you don’t have any projects on your tasks list, prioritize trying out different forms and writing for different audiences. Like anything else, business writing is a skill you learn with continued practice. Find resources : Use online templates for anything from letters to business proposals, consult writing guides, and download third-party spell-checkers and grammar tools. Take a course : Many digital learning centers like Coursera or Udemy offer business writing classes, allowing you to improve your skills at your own pace.

Most successful businesses start with a good idea. In 1976, Steve Jobs and Steve Wozniak had the idea to make computers small enough to fit into people's homes and offices. Enter Apple, now the largest tech company in the world.  But good ideas alone aren’t the catalyst to success—behind the scenes, a business strategy is at work. And a business strategy is something you need in order to complete the big picture and define how you plan to grow, operate and thrive. In this post, we’ll define what we mean by business strategy, outline why it’s important and provide some tangible business strategy examples. Set yourself up for success with a free business website  from Wix. What is a business strategy? A business strategy is a plan of action that keeps you focused on several things. Different from a business plan—which dictates how your business will be run from day to day—a business strategy tends to focus more on how, exactly, you will reach certain goals, milestones or achievements in running your business.  You need a strategy when you want to start a business , as well as when you’re planning to grow or change an existing business. Your strategy defines your business goals and provides a framework for all of the moving pieces your venture needs to operate successfully.   A business strategy typically includes the following elements: Core product or service : What you're selling, your business idea or your service. Target customer : A clear profile of who your business serves, including the problem that your product or service solves for them. Competitive assessment : A summary of the competitive landscape including strengths, weaknesses, opportunities and threats (SWOT analysis).  Financial plan : A financial projection that includes planned revenue, expenses and cash flow.  Pricing approach : Your preliminary pricing for products and services offered, or your pricing approach (e.g., flat fee, hourly, fee-for-service, etc.). Marketing and sales plan : An outline of how you plan to market your products and business, including a rough budget for paid media, details on how to make a website  and anything related to business promotion. It should also define some sales strategies focused on language meant to promote and differentiate your brand. Staffing and hiring : An org chart that defines roles and hiring needs. Include any resources and personnel you have on hand (e.g. Is it just you? Is it a partnership?). Growth objectives : A business growth  plan that incorporates your current goals, plus where you'd like the business to be in the next one, two or five years (e.g., markets, number of customers, revenue projections, etc.). Pro tip : A business strategy and business plan go hand in hand in shaping the goals, objectives and achievements of your business. Looking for a business plan  instead? Check out our simple, customizable and free-to-download template. 3 types of business strategies Any successful business starts with a roadmap that outlines how goals will be achieved. However, not all strategies are created equal. Let's take a look at three types of business strategies that can drive your business toward sustainable growth: Corporate-level business strategy : This high-level strategy includes the company's vision, mission and key decisions. This might involve business choices, acquisitions or divestments, and resource allocation, for example. Business-level strategy : A business-level strategy determines how a company competes in a market, considering product mix, customer segments, pricing, marketing and distribution. It aims to deliver value to customers and outperform competitors. Function-level business strategy : A functional strategy focuses on the operational aspects of a business, like production, marketing, finance and human resources (HR). It supports corporate and business-level strategies by maximizing resource productivity. Why a business strategy is important Starting any type of business isn't for the faint of heart. There are many predictable and unpredictable factors to prepare for at every stage of growth. That’s why you need a business strategy to keep you on track. As far as benefits go, a business strategy: Helps you navigate market complexities : It provides a roadmap for staying ahead of the competition, plus external factors like supply chain issues and global events that may impact the market. Provides insight into your customers' needs : When you know their pain points, you can align your strategy with real-world preferences and demands.  Helps you anticipate small business challenges : Knowing about potential opportunities and issues will help you adapt to market changes—and be more resilient overall.  Makes long-term success much more likely : A thoughtful plan takes the guesswork out of things like hiring, investing, growth and innovation. 9 business strategy examples So, what does a business strategy look like? We’ve outlined nine examples below to inspire you as you iron out the blueprint for your business’s success. Customer experience  Cross-selling and upselling Customer retention programs Cost leadership Innovation Differentiation Acquisition Social responsibility Value 01. Customer experience  Companies like Zappos, Starbucks and Amazon are known for their exceptional customer experiences. They prioritize customer satisfaction, make doing business with them easy and (in the case of Starbucks) turn something as simple as grabbing a cup of coffee on your way to work into an immersive and satisfying sensory experience.  Customer experience, as a business strategy, is beneficial for any small business owner . It creates loyal repeat customers who tend to become brand advocates, recommending your business, products and brand to their network of friends and family.  02. Cross-selling and upselling Focusing on selling more products to existing and new customers is a strategy that, if successful, has a direct and immediate impact on your cash flow, revenue and profitability. There are many ways to do this, including cross-selling and upselling to shoppers as they browse your website, bundling similar products and using loyalty programs to entice past customers to return.  Old Navy is a master of motivating return sales. Their Super Cash program awards shoppers $10 for every $25 spent on their website or in stores. The coupons become active at a later date, which encourages shoppers to hang onto them and return to shop again in the future. Your rewards program doesn’t have to be elaborate, either. Wix merchant Jule Dancewear  offers customers five reward points for every $1 spent in the shop, with bonus points awarded for following the brand on Instagram or celebrating a birthday. Customers can then redeem their points for a certain dollar amount or percentage off a future purchase.  03. Customer retention programs Creating more customer loyalty is a viable and lucrative business strategy. It’s often more cost-effective to focus on retaining customers than constantly finding new ones. In fact, most brands have a 60-70% chance  of selling to an existing customer, but only a 5-20% chance of closing a sale with a new one. Loyalty comes in many forms—e.g., retail loyalty programs that reward shoppers with coupons and discounts, or points systems like airline miles on credit cards. You build loyalty by being trustworthy, communicating clearly and creating high-quality products. Consistency is also key to building ongoing relationships.  Perhaps no one does this better than Amazon with their Amazon Prime program. Customers buy into the program for a monthly or annual fee and are guaranteed fast, free shipping from Amazon sellers who opt into the program. Returns are also easy and Prime members get lots of other benefits, including a huge catalog of movie and TV shows, exclusive sales events and unlimited photo storage. 04. Cost leadership Cost leadership is a strategy where a company offers the lowest prices in a niche or market. Companies like Walmart and IKEA are famous examples. They've mastered this strategy by offering products at prices lower than their competitors, while still maintaining profitability.  This strategy isn't for everyone. Walmart's size gives it more leverage over suppliers (and wholesale pricing) versus a local mom-and-pop store. But even if you manage a smaller business, you can make a cost leadership strategy work by keeping costs low, creating your own products and being (incredibly) vigilant about your business costs. This is a strategy that takes a lot of planning and monitoring, so it’s important to do your research before jumping in. 05. Innovation Innovation tends to be connected to categories like technology, pharmaceutical and business services industries. It's a business strategy that focuses on creating cutting-edge products or services that are either brand new (e.g., in 2007, Apple’s iPhone was the first smartphone introduced to a huge market of people who didn’t know they needed it) or best-in-class products or services in an existing market.  Innovation, as a business strategy, isn’t limited to products or services. It can apply to a business approach—in other words, the way you offer your product or service. A perfect example of this is the rise of meal kit delivery services like Hello Fresh and Blue Apron. These companies provide “meal kits'' with fresh ingredients delivered as a subscription service to their customers (e.g., three meals per week). Or, take a look at Wix merchant Napa Wild , which offers weekly subscription shipments of fresh produce to areas surrounding Napa County, California. Their produce boxes are available in three different sizes to suit different households. Some companies, like Tovala, include technology with their delivery service. Tovala’s smart oven works by scanning a barcode on the pre-made meal so that the cooking time and temperature are automatically set in the oven. When the meal is complete, the customer is notified via the Tovala app. 06. Differentiation Differentiation is about making your business stand out compared with your competitors. You do this by providing something uniquely special about your product design, features or quality. You can also differentiate yourself by creating a unique and meaningful brand story. When done well, differentiation gives you a lot of flexibility around pricing and approach—including the types of products and services you offer. An effective differentiation strategy helps your customers identify with your brand. They are either Coke drinkers or Pepsi drinkers, for example. Or, take Starbucks as an example. Lots of places sell coffee, but Starbucks has taken coffee to an entirely new level with uniquely crafted (and premium-priced) drinks that are as much about lifestyle and identity as they are about getting your daily caffeine fix.  07. Acquisition Acquisition is a business strategy that involves purchasing another company (or companies) to fuel growth, expand market share or be more competitive. Acquisition can be a game-changer for your business, allowing you to quickly tap into new markets, acquire valuable assets and eliminate competition.  Companies like Meta (formerly named Facebook) have effectively used acquisition as a strategy to maintain their dominance in the social media space. By acquiring platforms like Instagram and WhatsApp, Meta expanded its user base. It also diversified its offerings, ensuring it remains relevant even when other platforms like MySpace and Friendster have flamed out over time. Acquisition as a primary strategy isn’t for the faint of heart. You need a deep understanding of each of your target company's operations, culture, financial health and customer base. Integrating two companies can also be complex and stressful. There are often issues with merging technologies, company cultures and aligning operations. Thus, conduct thorough due diligence before making an acquisition or you could end up turning a beloved global brand into a classic example of what not to do when acquiring a legacy company. 08. Social responsibility Social responsibility is important to all consumers, but particularly Millennial and Gen Z consumers  who often evaluate companies and products based on environmental impact and sustainability. Social responsibility helps businesses differentiate themselves because it fosters community, protects the environment and ensures you’re prioritizing ethical practices throughout your operations. In fact, according to a Deloitte survey, a quarter of consumers  are willing to pay more  for sustainable products and packaging, or for products or services from suppliers that respect human rights and ethical working conditions. Two examples stand out here—Patagonia and TOMS Shoes. Both companies built their brands around social responsibility. Patagonia pledges 1% of its sales to environmental causes and is well-known by its loyal customers for being sustainable and supporting the lifestyle it promotes (loving the outdoors). Meanwhile, TOMS Shoes has a "One for One" model, donating a pair of shoes for every pair sold. 09. Value Value is subjective, but it can be a guiding light that helps new customers find you and inspires existing customers to return time after time. With a value-based strategy, the goal is to present something that is not just different but also has significant worth or meaning (or both) to your target audience.  Apple doesn't just sell technology; they sell an entire ecosystem. Apple products resonate with customers because Apple is as much about a lifestyle as it is about a device or feature. Their products, while technologically advanced, are aesthetically pleasing, easy to use and integrate seamlessly with each other.  Remember, offering unique value isn't about being different just for the sake of it. It's about understanding what your customers truly desire and creating something that fills that need in a way that no one else can. This could manifest as unparalleled quality. It could be a novel feature, or it can focus on exceptional customer service. Think about the companies you love that do this well—Disney, Trader Joe’s, Lululemon, Ben & Jerry’s and Ikea. A company that promises value and then delivers on it attracts new customers. It fosters loyalty and even advocacy.  Dig deeper : Want more information on how to start or grow your business? Check out our essential guide on how to run a business , which includes 10 steps for business success.

To grow your business effectively, you need a clear business plan  that sets goals and guides your next steps. Starting a business  is exciting but taking it to the next level requires more than just a great idea. With the right growth plan, you can increase your market presence, boost sales and scale operations with ease. Your plan should focus on key areas like creating strong marketing strategies , building a website  that works as your online hub and staying flexible based on customer feedback. Whether you're just starting out or ready to expand, having a structured approach to growth is key to long-term success. Learn more about how to build a website . What is business growth? Business growth happens when a company gets bigger and more successful over time, leading to scalability  and sometimes reinvention. This can mean increasing sales, gaining more customers, expanding to new locations or offering new products or services. Simply put, it’s about moving forward and improving in size, revenue or influence. Growth can be fast or slow depending on how well a company adapts to changes, plans strategies and makes smart decisions. For instance, a business might start with one store and later open more locations or build a stronger eCommerce presence. The goal is to create a more profitable business that meets the needs of more customers and stands out in the market. As your business grows you need to identify which metrics best reflect your progress. Here are some ways to measure growth: Hiring employees Opening new branch locations Gaining more clients Increasing product sales Steady revenue growth Accumulating social followers Seeing positive cash flow Bringing in new investors Mergers and acquisitions Some milestones might take longer to achieve, especially if your company is in the early stages. Setting the right pace for your business goals starts with being honest about where you’re starting from. Are clients asking for products that are always out of stock? It might be time to invest in faster delivery. Read also: how to spring clean your small business How to write a business growth plan A business growth plan is your blueprint for scaling and expanding your company. It’s your map for success, guiding you through every stage of growth. Whether you’re boosting sales, improving customer retention or entering new markets, a solid growth plan keeps you focused and helps you make smart decisions. Here’s how to create one that sets you up for long-term success. 01. Define your vision and mission Before scaling, know where you're going. Create a clear, compelling vision for your business. What does success look like in 1, 3 or 5 years? Be specific—whether it’s hitting a revenue goal, becoming a market leader or expanding globally, your vision should guide every decision. Pair this with a mission statement that captures your company’s purpose. Why does your business matter to your customers? What impact do you want to make? Your mission is the reason your business exists. 02. Set SMART goals Once you have a clear vision, break it down into actionable steps. Try using SMART goals—Specific, Measurable, Achievable, Relevant and Time-bound. For example, instead of saying “I want to grow my customer base,” go with “Increase my customer base by 20% in six months through targeted online ads.” SMART goals keep things clear, align your efforts and make tracking progress simple. 03. Understand your target market Understanding your customers is essential for growth. Knowing your target market lets you tailor products, marketing and messaging to meet their needs. Take a close look at your current customer base to figure out who fits your business best. Are they millennial professionals? Health-conscious shoppers? Once you identify your audience, explore new market opportunities that align with your core offerings. 04. Build a marketing strategy Marketing drives growth. A solid strategy boosts your efforts and connects with the right people. Blend digital and traditional tactics. For digital, focus on SEO for organic traffic, pay-per-click ads for quick visibility and social media to engage your audience. Content marketing like blogs, videos and email campaigns builds trust and awareness. Offline, partner with other businesses, sponsor events or host your own to create real-world connections. 05. Budget and allocate resources wisely Scaling takes resources, so it’s important to budget strategically. This might mean investing in new tech, hiring staff or kicking off marketing campaigns. Look for ways to streamline processes like using automation or tools that boost efficiency. By managing resources wisely, you’ll be ready to handle the demands of growth. 06. Monitor and optimize A growth plan isn’t a one-and-done task—it’s an ongoing process. Track progress regularly to see what’s working and where changes are needed. Use metrics like revenue growth, customer acquisition and website traffic to measure success. If something isn’t delivering results, adjust your strategy. Optimization is key, whether it’s refining campaigns, improving your product or boosting customer engagement. Tips for writing a strong growth plan Know your why : Understand what’s driving your growth—more sales, a bigger customer base or expanding product offerings Break it down : Set smaller short-term goals that build toward your big-picture vision Focus on ROI : Prioritize efforts that bring clear results Research competitors : See what they’re doing to grow and find ways to stand out Stay flexible : Markets change, so adjust your plan when needed Track everything : Measure results to see what works and improve where you can Why is business growth important? It’s easy to become complacent when business feels good and safe. However, you might not be able to afford taking a “business as usual” attitude as your industry grows. Some of the fastest growing industries in the United States are in food and beverage, real estate and health care. If your market is poised for growth, you need to capitalize on relevant small business trends and shifts to stay competitive. You can also achieve growth through practices like investing in customer acquisition, rewarding your staff with raises, and adding more value to current client relations. Essentially, business growth lets you accomplish more for your team, customers and yourself. Pro tip: Wix Enterprise is a platform that provides businesses with an all-in-one solution for all types of growth. Create high performing websites for your business using business software and run them from the Wix mobile app , all of which is backed by enterprise-grade security as well as expert support to help you manage and scale online. Decided to take the next step in your growth plan? Here’s an overview of the most common types of business growth strategies to implement: Types of business growth 01. Market development Market development is a common business growth plan designed to identify new market segments for current products. Small businesses owners can attract unaddressed markets within targeted segments. For example, new markets can be defined through geographic segmentation, or splitting up a market based on location. People from a certain place will share similar needs, wants or cultural considerations. In turn, businesses and brands can target an area with more relevant messaging. Another way to segment a market is using demographics, with subgroups formed by age, gender, occupation and even marital status. 02. Market penetration Unlike market development, this business growth plan is not about breaking into a new market but instead digging deeper into an existing market, and avoiding opportunity costs . Let’s say you run an online store for pet food. While customers may already go crazy for your inventory, the following strategies will not only improve customer loyalty, but they could also increase website traffic: Offering discounts Free one-day shipping Subscriptions and auto-renew deliveries That said, offering higher-quality products or services at higher prices could also help you penetrate a more valuable client segment. 03. Product development As a business owner looking inwards for business growth, product or service expansion may elevate your company to new heights. You can approach this growth strategy in a number of ways, including: Creating new products as demand grows for them Tweaking existing products with the help of user feedback Discontinuing underperforming products At this point of your business growth plan, you may need to take cues from your customers and adjust accordingly. If you can provide them with everything they want, and it makes sense for your business, they won’t look for another provider to fulfill the rest. Effective product development can help you reach hypergrowth and scale your business even quicker. Pro tip : If you’re developing a new product that’s in high demand, you can advertise it for pre-sale and start raising money for it before the product’s ready. 04. Mergers and acquisitions You can look at this growth strategy in two ways: First, a larger company acquires yours. You make a huge profit and can walk away to start a business again. Or you acquire a company with a competing or compatible product that helps you enter a new market or eliminate your competition. While freelancers or service providers don’t usually acquire companies, it might make sense for a vendor or a software company. On the other hand, you can also merge with another company and expand your market share. It could be a risky move to combine two companies into a new entity, but not if you research the company and the market opportunity it presents. 05. Partnerships For small business owners, freelancers and service providers without a ton of capital, forming a mutually beneficial relationship with another company can be a viable growth opportunity. As well as a crucial part of your business development plans. Furthermore, it won’t just boost your profits. The partnership will also improve your offering’s value, so your customers or clients walk away winners, too. As for who you partner with, it’s up to you. Just make sure it makes good business sense. For example, a freelance web designer could partner with a copywriter to offer clients beautiful websites with professional messaging. When you partner with another business, it’s also a great way to earn more clients at lower customer acquisition costs, such as through referrals. 06. Diversification Diversification is about expanding into a completely new market. Companies consider this growth strategy (as well as other business strategy examples ) as a way to reinvigorate business by developing new products or adding services to existing ones. It's also a good way to hedge against potential economic disruptions, such as the ways inflation can affect small businesses . Joy Cho, founder and creative director of the successful lifestyle brand Oh Joy! spoke with Now What ? about her company’s own business growth through diversification. Her business growth is a result of “two-thirds” selling licensed products at Target (home decor, baby and nursery, and furniture collections), plus another portion from her writing (adult books, kids books and her blog). 07. Alternative channels More businesses explore alternative channels such as progressive web apps (PWAs), mobile apps, Facebook Business pages, Google My Business pages and Instagram Shop to grow their business. Alternative channels have proven useful in reaching new customers, staying in touch with existing ones and engaging with your target audience. Many online businesses have also begun to offer a mobile app when they create a website to sell products . With Wix, you can operate and grow your business with the Wix app, a multi-functional app for marketing, managing bookings and live chatting with customers throughout the buyer journey. Download a business growth questionnaire

Artificial intelligence (AI) isn’t just for tech gurus and cyber geeks. It’s becoming a game-changer for time-crunched small business owners who wear many hats, including customer support superstars. While great customer service starts with a well-constructed business website , it's reinforced by other on-site features, like a chatbot. And once your website is launched, AI can help you manage just about every customer service-related task by automating, managing and streamlining how you deal with customer inquiries and issues. Here are the 10 key benefits of using AI in customer service. 10 ways AI is improving customer service Offers 24/7 support Reduces handle and wait times Handles multilingual queries Improves customer retention Analyzes customer data Reduces overhead costs Anticipates customer needs Helps upsell premium products Provides personalized recommendations Streamlines your workflow 01. Offers 24/7 support AI-enabled chatbots are designed to interact with your customers using natural language processing (NLP), which is a type of artificial intelligence that allows machines to understand human language. Chatbots are always on, so they can respond to customer questions 24/7. For example, Wix's AI site-chat feature enables you to answer customer questions as people browse your site. The AI can help site visitors find the products they're looking for, understand product details (like sizing) and even make a purchase, right on the spot. Or, if you offer a service, the AI can answer question around pricing, scheduling, packages and more. The AI site-chat uses live data from your website, including your support pages, to deliver accurate information. It's also designed to detect the intent of each user query and reflect your brand voice according to custom guidelines. Chatbots like the Wix AI site-chat are especially useful if you’ve just launched or are about to start a business . You don't need a large team to start offering around-the-clock support. Plus, you can quickly glean information about what people are looking for when they enter your site—then refine your content to answer their questions sooner. Explore all of Wix's AI tools . 02. Reduces handle and wait times As a small business owner , you may struggle with keeping customers on hold for too long or getting back to people quickly. Conversational AI tools can significantly reduce the time your customers spend waiting for help, resulting in immediate response times. They can play a crucial role in resolving disputes or queries since they give customers real-time answers to natural-language queries. This helps improve “case deflection” which is when a customer can resolve a case on their own, deflecting it away from a human service rep (or from you, the business owner). It's like having an extra pair of hands to manage customer queries effectively and promptly. Chatbots can also help you streamline your customer service approach—the process of resolving disputes or queries. Integrating chatbots into your workflow helps you provide better service overall. It’s not a replacement for human-driven service, but it’s a way to augment the processes you already have in place. 03. Handles multilingual queries Multilingual AI-powered customer service tools can chat with customers in multiple languages. They work by using sophisticated NLP engines to identify the language or automatically detecting a customer's default browser language. Apps are easy to connect to small business apps like MailChimp and Slack, or directly to your website. Having multilingual capabilities helps you expand into new territories and support various languages without hiring a large, multilingual support team. Keep in mind that language is just one aspect of culture. Multilingual chatbots are a good stop-gap when you need to support customers who speak different languages, but if you truly want to serve a global audience, then cultural alignment is crucial. Some chatbot platforms like Engati consider things like dialects, currencies and text direction when trained. Related reading: Top AI myths , debunked 04. Improves customer retention Customer retention is closely linked to good customer service. According to Statista, 70% of U.S. consumers expect a same-day response for customer service issues and 62% say a response within one to three days is acceptable. AI can help foster higher customer retention rates because it responds immediately with accurate information. This is particularly important when something goes wrong. According to a Zendesk survey, 77% of customers surveyed said they’re more loyal to businesses that provide a good experience after they experience an issue. Resolving issues quickly is a key ingredient of good customer experience. This can be challenging if you’re figuring out how to run a business on a tight budget. Incorporating chatbots into your customer service approach is a cost-effective way to improve both customer experience and retention. 05. Analyzes customer data AI customer service tools have the ability to collect a treasure trove of customer data. They chat with customers, learning about their likes, dislikes and problems, so they can help you solve small business challenges and make smarter decisions. If a bunch of customers are asking the same question, or frequently expressing anger, confusion or frustration, it could be a sign that something's not clear and needs fixing. Since chatbots can give you a peek into what customers really want, they have the potential to help you customize your offerings and business approach based on what your customers are saying. For example, if you’re a clothing retailer frequently seeing the query “Do you have plus sizes?” you can gather that there is demand for additional sizing in your target market. Related reading: Where are we in the AI revolution? 06. Reduces overhead costs We’ve already touched on how AI customer service tools can save you money by providing multilingual chat support and improving customer retention. But there are a few other ways that they can contribute to reducing overhead costs. The main one is that they eliminate the need for a full-time customer support team. Chatbots are always at the ready when a customer has an issue. They can defer the need for a human agent to instantly respond and can redirect customers to content on your website that answers their question. Common questions about return policies, shipping speed and product availability can all be answered by AI. To this end, it’s important to have the answers to common questions available on your website as a frequently asked questions (FAQs) page, in detailed blog posts and as easy-to-find information on product and service pages. And, again, unlike human agents, chatbots can provide consistent support around the clock. 07. Anticipates customer needs Since chatbots can process and retain customer data, it can use predictive analytics to anticipate customer needs and provide faster solutions. Predictive analytics use historical data combined with machine learning algorithms to forecast outcomes and trends. Using predictive analytics might, for example, proactively provide information about a product feature that comes up frequently in customer inquiries. Analyzing common issues allows your customer service tool or chatbot to offer pre-emptive solutions. They can also help you better understand the customer journey, including what’s working and where customers might be hitting roadblocks that stop them from converting. 08. Helps upsell premium products Chatbots aren’t just for customer service issues—they can be used to help you upsell and cross sell products and services. Chatbots can be programmed to interact with customers, understand their buying patterns and make appropriate recommendations for higher-tier products. For example, let’s say that you sell sweaters for dogs and have a line of matching sweaters for humans. The chatbot can suggest a bundle of the matching human/dog sweater set if the customer reaches out with a question. Chatbots can also suggest a premium product when a customer reaches out with a question (i.e., “Do you have rose gold hoop earrings?”) 09. Provides personalized recommendations AI offers a unique position to give customers personalized recommendations based on in-session activity. It’s a similar scenario to upselling in that chatbots can tailor a conversation to provide relevant results based on a conversation they’re having with the customer. This includes suggesting products, providing direction about sizing and guiding customers as they move through the process of shopping. This is a hands-on approach to customer service that turns the chatbot into a kind of concierge, providing one-to-one assistance to each customer. 10. Streamlines your workflow AI-powered customer service is changing how small businesses operate. As we touched on above, it can answer common customer queries and route more complex issues to the right department or person. This gets customers the answers they need more quickly while reducing the strain on you and your employees. Chatbots can help you improve your business workflow by: Automating customer service tasks: Since they can handle multiple customer queries and issues simultaneously, chatbots provide automated triage for issues and questions. They also provide instant responses to customers even if the issue itself isn’t resolved with the first interaction. Making internal processes more efficient: With AI, you can automate repetitive or time-consuming tasks like appointment scheduling and lead follow up. This kind of repetitive work is also prone to errors and best delegated to robot brains. Think of AI as your super-efficient administrative assistant. It can be integrated into your operational processes as a way to free up employee time and allow you to focus on more strategic, value-driven activities. Providing 24/7 service: At the end of the day, AI is machine-based. It doesn’t need to eat, sleep or take breaks. One of its biggest advantages is that it can provide support around the clock, ensuring customers in all time zones receive instant assistance. Saving you money: From handling a higher volume of queries to upselling high-end products, customer service chatbots can double as sales associates. These AI tools for sales help you sell more and personalize offers which drives customer loyalty. Using data intelligently: AI can gather user data including purchase behavior, customer needs, pain points and insights. It can then turn this data into valuable predictions about trends and roadblocks, helping you improve the customer experience. Automating all the things: Automation is the key to streamlining workflows, allowing small business owners to focus on high-value activities. As AI-enabled technology evolves, chatbots and other customer service tools will evolve with it. The future of AI-enabled customer service is bright and it’s filled with robots. Check out how to build a website with AI with the Wix AI website creator.

Every small business owner needs to have a good handle on product sourcing to succeed when starting their business . One thing online storefronts and brick-and-mortar businesses have in common: there’s no store without products. That’s true whether you’re a home decor website, a fashion business or an artisanal coffee roaster. That's why we've put together these vital tips for defining the right product sourcing strategy for your eCommerce business . Learn the ins and outs of finding the right suppliers and maintaining a well-oiled product sourcing machine. Product sourcing isn’t just about selecting cool products, either. You must be able to accurately assess the efficiency, flexibility and cost of your sourcing model in order to safeguard your business. Need a better system for your ecommerce management ? See how Wix eCommerce  can help you streamline your business, from managing suppliers to monitoring performance. What is product sourcing? Product sourcing is the process of acquiring stock that you plan to sell online or in your brick and mortar store, if you have one. It involves working with suppliers who can provide you with the proper levels of inventory to satisfy customer demand. It’s a critical part of any eCommerce business plan . And while new business owners may be focused on getting their first units built, established ones may be reevaluating their product sourcing methods to help expand their catalog and shave costs. Why product sourcing is so important The wrong product sourcing strategy can take a toll on your profits and productivity, and affect the overall success of your business. More specifically, product sourcing is important because: You need to have the right inventory at the right time Most eCommerce shoppers expect to receive their products within days. If your suppliers are out of inventory  and orders start backing up, customers are likely to ditch your store and shop elsewhere. We saw this happen often as pandemic-era shortages crippled the global supply chain. Out-of-stock messages rose by 250% in October 2021 compared to a pre-pandemic period (January 2020), according to Adobe . Electronics, jewelry, apparel, pet products, and home and garden were among the most affected categories. As the supply chain crunch continues, having a strong product sourcing strategy with multiple suppliers will help you weather port closures, shipping delays, and other disruptions so that you can keep your customers satisfied and reduce the risk of them going to a competitor’s site. Product quality is crucial Few things will erode your store’s reputation faster than inferior products that let customers down. Not only will poor product quality lead to a spike in returns, but you run the risk of receiving negative customer reviews and damaging your reputation online. Today’s eCommerce  shoppers are also ever-sensitive to both poor-quality products and perceived (and actual) counterfeits. Flexibility is required for your business to scale The right product sourcing strategy should help you achieve your growth goals. Spending too much upfront cost on supplies, or taking too long to produce handmade products are two challenges that tend to fetter growth. Each of these should therefore be taken into account when identifying the right suppliers and processes for product sourcing. Read Also: 10 ways to grow your eCommerce business How to source products for your business There’s no one-size-fits-all approach for product sourcing. Rather, you should choose the most appropriate strategy for your store based on your overall goals, your products, your target audience and your budget. To get you started, here are the four most common ways to source products: Dropshipping   Wholesaler   Manufacturer   Handmade   01. Dropshipping If you’re interested in starting a business  but don’t actually want to design, manufacture—or even ship—the products yourself, consider  starting a dropshipping business . With both dropshipping  and reverse dropshipping , you never actually need to touch the products. Instead, rely on suppliers then take care of everything from manufacturing to order fulfillment. Here’s how it works: connect with dropshipping suppliers  through a platform like Modalyst  or Spocket and select which of their products you want to sell on your website. You can choose to dropship all the items in your catalog, or only dropship a portion of your catalog. When a customer makes a purchase on your store, the order will get sent to your supplier, who’s then responsible for delivering the product straight to your buyer’s doorstep. Create a dropshipping website  to get started. Merchants like Cruising Aviation  have relied on dropshipping to get up and running quickly. Founded by a student pilot, Cruising Aviation offers more than 300 aviation-themed products, ranging from wall art to clothing that’s all delivered within two to four days. Pros of dropshipping and product sourcing Low upfront costs.  Because you don’t create, design, store or send products, you can start dropshipping with modest financial investment. No excess inventory.  If no one buys your products, you’re not stuck with shelves of paid-for products—in fact, you don’t have to worry about the bulk of inventory management  tasks. This gives you more time to focus on marketing your products and elevating your store. Quick to scale . You can easily add a wide and diverse range of products to your store. For example, if you sell dog sweaters, you can expand into leashes, water bowls, and toys from a variety of different vendors. Cons of dropshipping and product sourcing Limited quality control . Since you aren’t making your own products, the quality of the products and the service level of fulfillment will be based on your vendor’s abilities. Lack of competitive differentiation . When you work with dropshippers, it’s possible that shoppers will be able to find the same product that you sell on another site (and potentially for a lower price). Lower profit margins . While dropshipping doesn’t bring high upfront costs, it can mean smaller profits depending on how much you’re paying your vendors and how competitive your products are. 02. Wholesaler When you choose a wholesaler for product sourcing, you get the opportunity to buy products in bulk. Partnering with a wholesaler is a good choice if you don’t want to create products from scratch and want to fill up your catalog quickly. Alibaba  and AliExpress  are two of the most popular wholesale marketplaces. Some well-known marketplaces, like Etsy , also offer a place for buying wholesale . Wholesales suppliers typically keep an eye on trending products  in order to provide the best, most relevant selection of products for their retailers. But once obtaining inventory from your suppliers, you’re responsible for warehousing those products and fulfilling orders. Pros of wholesale product sourcing Low cost per unit.  Because you order in larger quantities, you’ll pay a wholesaler a relatively low per-unit cost for each item. That may lend to larger profit margins. Fast to start up. Wholesalers typically work with many retailers. That means they know which products will sell, giving you a better chance of driving sales starting on day one. Access to a wide variety of products.  The right wholesalers can help you assemble an impressive array of products and accessories to sell on your online store. Cons of wholesale product sourcing Inventory and fulfillment is on you.  A wholesaler will ship their product to you, not your customer. That means you’ll need a warehouse or another facility to store inventory, and you’ll have to either fulfill orders yourself or hire a vendor to do the work for you. Lack of product differentiation. Other retailers may use the same wholesaler as you and offer the same products. Larger upfront costs.  You’ll need to anticipate paying for all items upfront prior to selling them online, which can put your business in a pinch if you don’t have enough capital or don’t wind up selling as many units as you anticipated. Wholesale discounts will also depend on how much inventory you’re able to buy in bulk, so you may not snag as good of a deal as a larger retailer who has more cash on hand. 03. Manufacturer Let’s say you have a great product design. You’re just looking for someone to bring it to life. How do you source products then? The answer may lie in manufacturing . This product sourcing strategy allows you to design private-label  products and potentially select the raw materials yourself, while your vendor will do the actual product creation. The manufacturer will then ship their products to you so that you can store and sell them. Wix merchant Forge to Table  manufactures its own hand-crafted knives. When they experienced a shortage of their signature product during pandemic-related lockdowns in early 2020, they found another local manufacturer to produce and sell a different item—branded aprons—to help weather the storm. Then, once their knife manufacturer got back up and running, Forge to Table reaped the benefits, achieving a YoY sales increase of 345% in Q4. Pros of manufacturing Create unique products.  Working with a manufacturer allows your store to offer one-of-a-kind, branded items. High level of quality control.  Even though you don’t make the products yourself, you can examine the products before you sell them. You also get to control branding and price. More flexible than other methods. Working with a manufacturer can offer more flexibility in how you build your products, optimize them over time, and how much of them to produce in a given timeframe. Cons of manufacturing High upfront costs. A manufacturer will typically enforce an MOQ, which could require a significant upfront investment. Longer product development cycle.  It could take many months for a manufacturer to create a prototype, refine it, get it to your specifications, and then produce enough finished product to get you started. Finding a quality manufacturer isn’t easy. Identifying the perfect manufacturer can be a long process. There are various factors to keep in mind—including price, reliability, and time to product items—when searching for a partner. (View this guide on how to find a manufacturer  to get started.)     Manufacturer success tips Choose a manufacturer that meets your current and future needs. Ask yourself, will the manufacturer be able to keep up with growth or fluctuations in demand month over month? Ask thorough questions. Ask prospective manufacturers about their processes and timelines so that you don’t face any surprising delays. Also, check reviews, consult third-party sources like the Better Business Bureau , or chat with other users (if that’s an option) about what it’s like working with the manufacturer. Factor manufacturing costs into your product cost.  Make sure you account for the extra expenses that will arise from working with a manufacturer when creating your pricing strategy. 04. Handmade A homemade or do-it-yourself (DIY) approach to product sourcing tends to work best for jewelers, carpenters and other artisans. It’s also embraced by some cosmetic merchants. With a handmade approach, you can retain complete control over the design and manufacturing of your products. Little Giraffe Bath & Body Co.  prides itself on offering natural, handmade products. Little Giraffe uses high-quality ingredients, including pure essential oils, to ensure that its one-of-a-kind products are kind to the planet. Pros of handmade products Full creative and quality control. Because you make the products, you can ensure each item you create meets your quality standards. Competitive advantage. Your products will be truly unique to your brand; customers won’t be able find them on any other online store. Freedom to work with whomever you want.  You choose the raw materials. You choose the hands that make the products. You choose how to handle all aspects of the supply chain for your products. Cons of handmade products Raw material scarcity. Current supply chain challenges may make it more difficult for DIYers to source the raw materials they need to create their products. Difficult to scale. Every time you need to meet increased demand for your product, you may need to increase your staff. Major investments in upfront costs and time.  In addition to choosing and buying all the raw materials, you’ll need to hire the people to do the work or make the products yourself. You’ll still need to cover the other costs (and responsibilities) of business, too, like costs related to inventory, packaging, shipping, and marketing. Handmade success tips Choose the right raw material suppliers.  Whether you need diamonds for jewelry or wood for homemade furniture, you’ll need to develop strong relationships with your vendors. Consider the potential impact of supply chain delays. Plant shutdowns and other pandemic-era concerns can slow the delivery of your raw materials. Develop backup plans in case one of your main vendors experiences disruptions. Plan for more storage space.  In addition to potentially maintaining your own inventory of finished products, a DIY approach means you’ll need space to store your raw materials and products in development. Plan for this ahead of time, and understand how your workspace (plus processes) needs to evolve as your business grows. Product sourcing FAQ Can I choose more than one product sourcing method? Yes. It’s common for merchants to use multiple methods of product sourcing. Let’s say you sell camping and caravanning gear. You could work with a manufacturer to create custom-designed tents at scale but then tap a dropshipper or wholesaler to provide sleeping bags and other accessories.Generally, the more options you create for your business, the better in terms of reducing over-reliance on one supplier or method to maintain and scale production. However, this could potentially add complexity to your business. You’ll have to be able to manage all of your various sourcing methods. How do I pick the right vendors? There are a few factors that you’ll want to keep in mind. Take a long-term view. Consider your online store’s immediate and future needs. Ask suppliers things like “How much stock do you have on hand?” or “What are your turnaround times, and are you available during business hours in our time zone?” If you sell seasonal merchandise, consider those needs and ask prospective vendors if they can meet your timelines. Check the vendor’s reputation.  Check third-party sources like the Better Business Bureau . Ask your suppliers for references, then call those references to get their take on the supplier’s reputation. Talk to other merchants about their suppliers. Ask the right questions , e.g., do you have experience in my product segment? How long have you been in business? What is your delivery and lead time? What are your MOQs? How frequently will you update me on inventory or production changes? How will you handle shipping, inventory, and returns (if applicable)? Can I put my own custom labels on the products that I sell? Request samples. Make sure that you have the chance to review all products yourself and test them for defects. Try running through the whole order fulfillment process too by simulating a customer order. Which KPIs should I track with suppliers? These metrics can help you make sure that your suppliers are giving your business the care and attention it deserves: On-time product arrivals Product quality Customer satisfaction and reception Quality of communication Costs billed as quoted Quality of products upon arrival How do I find trending products? Browsing “best seller” recommendations on global marketplaces like Amazon can help you keep up with consumer trends, as well as third-party tools like Google Trends , Trend Hunter , or TrendWatching . You can additionally poll people on social media, or survey existing customers about the items they find most useful or desirable.

A podcast can serve as a creative outlet, a platform to discuss a niche interest or a marketing tool for a business. Because there are so many opportunities to monetize a podcast, it can also serve as a source of income. Whether you have an established audience or have yet to start a podcast , this article will teach you how to monetize a podcast using strategies such as sponsorships, advertising and event hosting. Tip : No matter what podcast monetization strategy you decide to use, create a website dedicated to your podcast that will come in handy to your current and new listeners. Starting a podcast? Use this podcast name generator to name it. How to monetize a podcast Here are nine strategies that can help you turn your podcast into a lucrative side hustle or even a full-time career: Get sponsorships Run advertisements Host an event Offer subscribers premium content Accept donations Sell products or services Promote affiliate content Publish episodes on YouTube Produce online courses 01. Get sponsorships A podcast sponsorship is an agreement between a podcast and a brand in which the brand agrees to support the podcast in exchange for promotional mentions within the podcast. Since these mentions are typically only 15 to 60 seconds long, listeners won’t be bothered by them—they might even trust you more if you have the support of a brand they know and trust. Sponsorships can take many forms, such as providing funding for the production of the podcast or offering products or services as giveaways to listeners. Sponsorships can be especially useful for smaller podcasts that may not have a large enough audience to attract advertisers, as sponsors may be more interested in the quality of the content and the alignment with their brand rather than the number of listeners. 02. Publish episodes on YouTube Syndicating your podcast recordings on YouTube is a simple way to further monetize your podcast. You can simply use an image as a placeholder for the visual element and have your podcast audio play in the background. That said, it’s worth taking the extra step of making video recordings of your podcast tapings—better visuals means increased engagement and increased engagement means more ad revenue. To maximize the potential of your YouTube channel, be sure to follow best practices for YouTube SEO to help your videos rank higher and attract more views, which can ultimately help you monetize your channel. You can also use a Podcast SEO strategy that will help you generate traffic and users to your recordings, and from there you can develop ways to encourage them to convert on your channel in someway. 03. Run advertisements There are pre-roll, mid-roll, or post-roll podcast advertisements, which means they are played at the beginning, middle or end of an episode, respectively. The ad might be an endorsement from the host, a script from the brand or a more traditional commercial that the brand produced. Once you’ve grown your listeners to a few thousand listeners, you can start to work with podcast advertising networks such as Midroll , AdvertiseCast and Authentic . Some podcast hosting sites even have their own built-in advertising networks. The advantage of working through a network rather than directly with brands is that there’s less administrative work involved. You’ll use the network to find advertisers, negotiate rates, and get the ad script so that you don’t need to do the leg work and can focus on creating great podcast content instead. Because advertisers often pay at a cost per mille (CPM) rate , podcasts with larger audiences tend to make more money. Newbies should still consider podcast advertising because, even if you don’t make much in the short run, you can use your experience to demonstrate your worth to larger brands once your audience is more substantial. Don't forget to get on board with podcast analytics , in order to understand the success of ads on your platform. 04. Host an event When you have a more dedicated following, you can start to promote in-person events that you charge admission for. These events can be anything from live podcast recording, a public speaking appearance, a workshop, or even just a meetup for your avid listeners. 05. Offer subscribers premium content Create exclusivity with your podcast by offering a subscription model. Whether you want to put all your podcast content behind a paywall or not is up to you, but with this method, your dedicated listeners will pay a monthly fee to listen to your podcast. A good way to have a bit of both free and paid content is to offer premium content for subscribers only. This means that the majority of your podcast episodes will be available to all listeners, and you’ll release some exclusive episodes that are only available to listeners who subscribe. For this type of premium content, you want to make sure the added fee is worth it to your audience. So, you might release a free episode with a partial interview with someone relevant to your niche, and to hear the full interview the listener will need to subscribe. Recently, Spotify has made it possible for podcasters to set up paid subscriptions for their followers, with Apple following suit not long after. 06. Accept donations It might seem strange for podcasters to ask for donations from their listeners at first, however, once you take into consideration all the time and hard work you put into creating content for your listeners, asking for donations makes more sense. It’s become more commonplace for content creators in all fields to request donations to help them continue to create the same great content for their audience. There are a few different ways you can go about asking for donations: Set up a PayPal or Stripe button on your podcast’s website Create a GoFundMe page to fund a specific project, episode, or season Open a Patreon account and remind listeners about it every episode The key to asking for donations as a podcaster is to be upfront about what it’s for. If you need extra funding to buy new gear or create new episodes, say so. Your fans are more likely to donate if they know where their money is going. 07. Sell products or services Is your podcast linked to a product or service you offer? You might be an expert in your niche, offer consulting services or even just create merch surrounding your podcast. Selling to your listeners in your podcast, if done right, can generate a decent amount of income. In Wix’s own podcast, Now What? , we invite industry leaders to our show to discuss changes in business and technology. We use that platform to tell listeners about Wix products, such as Wix eCommerce . Since our podcast covers similar topics, we know it’s a good opportunity to promote our own products and services. Try and apply the same strategy to your podcast. If you have a business podcast , remind listeners you’re available as a consultant for small businesses. If you have a motivational podcast , offer your listeners online coaching services or online workshops. You could also sell podcast merchandise such as T-shirts with your podcast’s name or mugs bearing a catchphrase you use often. Whatever it is you’re selling, make sure you remind listeners in a natural way during your episodes and frame it as an added-value product. Tip : Wix has a print-on-demand feature that’ll make it easy to produce, sell and ship your podcast merch. 08. Promote affiliate content If you don’t have your own products and services to sell, you can always promote those from another brand. Affiliate marketing is a great monetization strategy for new and emerging podcasts since you don’t need to have any specific number of listeners to start. Every time a listener uses the affiliate link you share on your site or in the episode notes to buy the product, you’ll earn a percentage in commission. Rakuten has a sprawling affiliate network that is easy to use. You can also use big-box partners programs such as Amazon’s , which enables you to earn commission rates up to 10%. 09. Produce online courses By selling online courses on your podcast's topics , you can not only monetize your podcast but also build a deeper relationship with your audience and showcase your expertise. Whenever the topic comes up in a podcast episode, you can share the course and frame it as an opportunity to get a deeper understanding. It takes quite a bit of time and effort to write and produce an online course, but tools like Coursera or Wix’s video maker can make it easier. Once you’ve built the course, you can sell it for years, generating passive income. Plus, you can attract more listeners to your podcast by regularly promoting the course on social media. How much do podcasters earn? You’re probably wondering now how much you can expect to earn while using one or more of these strategies for making money podcasting. The sky's the limit, considering that Spotify made a $100-million licensing deal with podcaster Joe Rogan to license his podcast on Spotify. That is, of course, an extreme example, but it shows you just how lucrative podcasting can be. The amount you make depends on how many listeners you have and how many monetization strategies you use. For example, let’s assume the following about a relatively new podcast: The podcast has 2,000 monthly listeners The podcast isn’t running ads Around 1% of listeners donate $5/month on Patreon Around 1% of listeners make purchases through the podcast’s affiliate links Around five listeners purchase the podcast’s online course every month for $79. Based on the above assumptions, the breakdown of what the podcaster would earn: $100 per month in Patreon donations $400 per month in affiliate sales (assuming 1% of your audience makes a purchase of $20) $395 per month in e-course sales Therefore, the podcaster would generate around $845 per month. Once the audience grows and the podcaster pursues other monetization efforts, that amount would increase significantly.

Every day, the world watches 1 billion hours of YouTube videos. The platform’s immense popularity has transformed it from an entertainment channel to a powerful monetization tool for businesses and personal brands. So, if you’re interested in making money on YouTube, now is a great time to get started. We suggest beginning by using a website builder to host your videos and to have a home for your brand, and then sharing your content on YouTube. Not only will this expand your reach, but it will also help you make money from your fans. In this article, we’ll take a look at the seven most effective ways to monetize your YouTube video ideas. How to make money on YouTube: Become a YouTube Partner Turn on ads for your videos Sell merchandise Work with brands as an influencer Crowdfund Use fan funding License to the media Create sponsored content Become an affiliate marketer 01. Become a YouTube Partner Once you start a YouTube channel , you can join the YouTube Partner Program to get access to special monetization features, including the ability to serve ads, display merchandise and more. While joining is completely optional, it does give you access to a variety of channels for making money, including Premium subscription fees and a merchandise shelf. Here’s how to become a YouTube Partner: Step 1: Stay compliant with the guidelines When you first apply to the Partner Program, YouTube will review your channel for compliance. For this reason, you should get acquainted with the platform’s monetization policies , and make sure your content abides by the rules every time you upload a YouTube video . Your content will be under continual review, even as you grow your channel and start to make money from it. If you do get accepted as a Partner, keep tabs on the latest compliance policies to make sure you’re up-to-date. Step 2: Meet the YouTube Partner Program requirements In order to join the program, you’ll need to become a successful YouTuber . The criteria for joining are that your channel has reached 4,000 watch hours and 1,000 subscribers within the past 12 months, or 1,000 subscribers with 10 million valid public Shorts views within the past 90 days. Only once you’ve met or surpassed these numbers can you apply to become a YouTube Partner. Step 3: Apply to join the program Provided you meet the necessary requirements, you can submit an application to join the program following these steps: Go to the top right of the YouTube homepage. Click your account icon and select Creator Studio. On the left-hand side, click Channel. Then, select Status and Features. Under the box that says Monetization, click Enable. Agree to the YouTube Partner Program Terms. Step 4: Set up AdSense As part of the application process, you’ll need to set up an AdSense account associated with your profile to ensure you’ll earn money from your videos and get paid. Keep in mind that you can only have one such account, and that multiple channels can be linked to the same account. Step 5: Get reviewed Once you’ve applied to be a YouTube Partner and set up an AdSense account, your channel will be put in a queue for review. At this point, both automated systems and humans will check your channel for full compliance with the guidelines. Step 6: Explore your monetization options If you’re accepted by YPP, congratulations! It’s time to set up your ad preferences and enable monetization. You can choose from a wide range of YouTube monetization options , but keep in mind that they each have different eligibility requirements: Advertising revenue: Earn money by including display, overlay or video ads next to your content. To do this, you must be at least 18 years old or have a legal guardian who agrees to handle your payments. Your content must also meet the advertiser-friendly content guidelines . Channel memberships: Offer special perks to Channel members who make recurring monthly payments. This requires that you’re at least 18 years old and have more than 30,000 subscribers. Merchandise shelf: Showcase official branded merchandise on your watch pages for your fans to browse and buy. For this option, you must be at least 18 years old and have more than 10,000 subscribers. Super Chat and Super Stickers: Make money from fans who pay to get their messages highlighted in chat streams. You must be at least 18 years old and live in a country where Super Chat is available. YouTube Premium revenue: Get part of a YouTube Premium subscriber’s membership fee when they watch your videos. 02. Turn on ads for your videos Running ads on your YouTube videos is one of the easiest ways to earn passive income, and it’s a no-brainer once you’re accepted into the YouTube Partner Program. Here’s your step-by-step guide. Step 1: Enable monetization Before ads start running, you’ll need to turn on monetization in YouTube Studio. Once inside, find the specific videos you want to monetize and allow ads. For videos over eight minutes, you can also add mid-roll ads, which are shown during your video, increasing your earning potential. Step 2: Choose your ad preferences YouTube offers different types of ads, like pre-roll (before videos), mid-roll (during videos) and post-roll (after videos). While YouTube automatically decides which ads to show your audience, you can select the types of ads best suited to your channel. Step 3: Earn revenue Every time someone watches or clicks an ad, you earn a cut of the revenue. Keep in mind that YouTube keeps a portion, so combining ads with other strategies can grow your overall earnings. Step 4: Analyze your performance Stay on top of how ads are performing with YouTube Studio’s revenue analytics. You’ll be able to see metrics like views, revenue per 1,000 views (RPM) and your total earnings. Use these insights to adjust your content strategy and optimize future videos. 03. Sell merchandise Another way to make money on YouTube is by selling merchandise. You can offer products you’re already selling on other platforms, or you can create a new collection based on your channel’s content. Keep in mind that you’re far more likely to make sales if your videos already have a fan following, so focus on building your popularity before you start producing such products. Step 1: Design your products Your merchandise should represent your brand, appeal to your target audience and build a community around your channel. As you dream up your products, think of something relevant to your niche that your viewers would be interested in. Note that you can check your YouTube analytics to get a better understanding of the kinds of people interested in your content. For instance, if your channel is about makeup or beauty, you might want to sell branded cosmetics or makeup bags. On the other hand, if you’re a YouTube fitness instructor you might consider selling branded fitness equipment and energy bars. You can also poll your audience to ask about which kinds of products interest them the most. Step 2: Source and build your products Now, it’s time to make your product ideas come to life. You’ll likely need a manufacturer, wholesaler or retailer to produce and deliver your products to you. You can also try dropshipping, a method by which the manufacturer, wholesaler or retailer ships the products to customers directly. Whichever method you choose, be careful not to overstock at the beginning. Instead, start with just 1-2 products and produce them in small amounts. That way, you’ll have time to gauge their popularity and estimate how many people will buy. Step 3: Start an online store To handle transactions, you’ll need to create an online store . This will allow you to manage end-to-end fulfillment, accept secure online payments and more. Having your own professional eCommerce site will also boost your brand’s credibility while providing a dedicated platform for your audience to browse through your merchandise. Step 4: Enable your merchandise shelf If you’re a YouTube Partner, you can also take advantage of YouTube’s inbuilt merchandise shelf . This lets you display up to 12 official branded products on the video page of your channel so that you can showcase the items to your viewers. Step 5: Promote the products in your YouTube videos Once you’ve created your products and set up a website, spread the word by promoting them in your videos. Think of creative ways to present the merchandise to viewers, such as wearing or using it or featuring customers with your products. Conclude your videos by reminding users to like, subscribe, and check out your website. You should also add a link to your online store in the description section so that users can navigate seamlessly to your website and make a purchase. 04. Work with brands as an influencer Brands are constantly on the lookout for creators who can help them connect with their audience. Partnering with brands as an influencer is not just a great way to make money, it’s also a chance to build lasting connections with businesses you believe in. Step 1: Find the right brands Start by identifying brands aligned with your channel’s focus. If your content focuses on gaming, fitness or beauty, for example, look for brands in those niches. Step 2: Create an irresistible pitch When reaching out to brands, share your channel’s story and why you’re a good fit for their product. Highlight your analytics, like average video views, audience demographics or engagement rates. Show the value you bring and keep your pitch concise and professional. Step 3: Nail your sponsorships Once you’ve landed a brand deal, it’s time to create sponsored content that feels natural and genuine. Whether it’s a dedicated video, product review or brief mention, integrate the brand into your videos in a way your viewers will enjoy. Above all, only promote products you truly believe in to keep trust levels high with your audience. Step 4: Track your partnership’s success Use performance metrics like clicks, conversions and viewer engagement to gauge how well your sponsorship went. These numbers not only impress your brand partners but also help you secure long-term collaborations in the future. Pro tip: Transparency matters. Always disclose when a video is sponsored to stay compliant with guidelines and maintain your audience’s trust. 05. Crowdfund Crowdfunding is the practice of raising money from a large number of people, whether it’s friends, family or third parties interested in your project. This is a viable option for making money on YouTube if you’re looking for monthly revenue or a one-time donation to jumpstart your efforts. Step 1: Join a crowdfunding site First, you’ll need to join a crowdfunding platform. Take a look at YouTube’s list of approved crowdfunding sites for different options. Some of the most well-known ones include: Kickstarter Indiegogo GoFundMe Angel.me Crowdfunder Note that some platforms are best for raising money for one-off projects, while others help you run a long-term fundraise. Whichever your preference, make sure to choose a platform that aligns with your needs. Step 2: Promote your crowdfunding efforts After you create an account, you’ll need to raise awareness of your campaign. This is where your YouTube channel comes into play. You can use your videos to tell the story behind your project or brand. Build interest, excitement and suspense by keeping your fans up-to-date on your fundraising progress. In addition, draw in donors by offering rewards - such as shout-outs, exclusive content or free merchandise - depending on the amount they contribute. To raise further awareness, couple your YouTube videos with other social media marketing strategies. Post about your campaign on your Instagram, Facebook and Twitter accounts, and include links to both your YouTube videos and crowdfunding page. At the same time, you can increase your content’s visibility on Google by optimizing your YouTube SEO . 06. Use fan funding Another option for making money on YouTube is fan funding. While crowdfunding platforms target a general crowd for donations, fan funding specifically sources funds from your audience. Step 1: Join a fan funding platform You can get started with fan funding by joining a dedicated platform. One of the most popular is Patreon , which provides tools for content creators to get recurring, long-term support from their fans. Another option is to fan fund through YouTube directly using YouTube’s built-in features. For this, you first need to become a YouTube Partner. As a Partner, you can raise money by offering channel memberships , which take the form of a Join button directly beneath your YouTube videos. By clicking this button, fans will get the option to provide regular support in exchange for perks like custom badges, custom emojis and exclusive content. Additional YouTube features that are built into the Partner program include Super Chat and Super Stickers , which let fans pay you in exchange for pinned comments and animated graphics, respectively. Step 2: Promote your fan funding efforts In order to run a successful fan funding campaign, you’ll need to spread the word to your audience so they have the opportunity to contribute. Conclude your videos by politely inviting viewers to support your work. 07. License to the media Most content doesn’t go viral. When it does, however, many news outlets want copies so that they can replay it to their audience. In this case, you can make money by licensing it to the media and charging them a license fee for permission to use it. Step 1: Put your contact information front and center There’s no real formula for creating viral content. It’s often just a matter of strong marketing strategies and chance. If you do happen to create a viral video, the first thing you should do is make your contact information easy to find. This will improve the chances that news outlets will reach out and offer payment in exchange for a licensed copy. Create an email account containing your YouTube channel name and place it on your website and in the description section of your YouTube channel. Explain what this email address is for with a clear and direct statement, such as: For business inquiries, please reach out at [email address]. Step 2: Join a video rights marketplace You can also pay to have your videos listed in a video rights marketplace. This makes it easier for media professionals to find and purchase your content. Jukin Media , for example, is a video rights marketplace that saves your files in their content library and sends it to news channels, advertising agencies and other organizations. You’ll then make money if these organizations decide to use your content. 08. Create sponsored content If your channel gains traction, you can become an influencer and make money on YouTube with sponsored content. Once you have a large and engaged following, you may be able to profit by endorsing branded products. Step 1: Find a brand to sponsor As you grow your number of YouTube subscribers , brands might start to reach out for a collaboration. When this happens, it’s a good idea to research the brands and their products before promoting them on your channel. Endorse products that you can sincerely recommend to fans so that you avoid compromising the quality of your content. If you have a particular brand in mind you’d like to sponsor, you can reach out to them yourself and explain how they would benefit from working with you. For example, you might tell them why your target audience is relevant, how many people are subscribed to your channel, and how much engagement your videos receive. You can also find brands by joining influencer marketplaces such as Grapevine Logic , Famebit , Channel Pages and CrowdTap . Some companies on these influencer marketplaces will gift free products in exchange for sponsorship, while others offer payment. Step 2: Create branded content Once you partner with a brand, there are several ways you can promote them on your channel in order to bring in revenue. For example, you can create entire videos focused on the brand or include the products in other video content. Many beauty influencers, for instance, sponsor beauty products as part of a broader makeup tutorial. 09. Become an affiliate marketer Another option is to sponsor products and brands with affiliate marketing . As an affiliate marketer, you’ll get a special link to a company website that tracks back to your page. When people buy from the company using that link, you’ll get commissions from the sales. Since the brand pays you only when you make sales - rather than paying you to simply recommend their brand - you don’t need a large fanbase to get started. Here’s how to do it: Step 1: Join an affiliate program There are several affiliate programs that you can join. A popular option is Amazon Associates , which is a good choice for those new to affiliate marketing and offers a commission of up to 10%. Other big brands, like Target and BestBuy , have affiliate programs as well. For even more options, take a look at affiliate marketing platforms such as: CJ Affiliate Rakuten Advertising ShareASale Impact Using these platforms, you’ll be able to connect with a variety of brands and get affiliate links that you can use to make sales. Step 2: Reach out to brands While joining one of these platforms is the easiest way to connect with brands, you can also reach out to companies that you’re interested in promoting and that you think would be valuable for your audience. When you contact them, be sure to explain how they’ll benefit from the collaboration and why your fans would be a good audience for their brand. Step 3: Feature the products in your content Once you connect with a brand and obtain an affiliate link, incorporate the products into your videos. Be sure to integrate them seamlessly into your content so that you don’t come across as overly promotional, as this may put off some of your fans. Instead, recommend products in a way that offers genuine value to your audience. An online fitness instructor, for instance, might promote a pair of good-quality athletic shoes. An outdoors enthusiast, on the other hand, might recommend a particular brand of camping gear. The more relevant the products and brands are to your fans, the more they’ll enjoy your content and the more likely they are to buy. Step 4: Add an affiliate link Finally, place the affiliate link in the description of the relevant videos. At the end of your video, remind users of the products you recommended, and tell them they can buy them using the link below. How many views do you need on YouTube to make money? The number of views you need on YouTube to make money isn't as straightforward as you might think. While views are ultimately how you reach viewers and expose them to potential money-making avenues, there's no magic number of views that guarantees earnings. Here's why: YouTube Partner Program: To start earning money directly from YouTube ads, you need to meet the eligibility criteria for the YouTube Partner Program. This requires 1,000 subscribers and 4,000 watch hours in the past year, or 1,000 subscribers and 10 million Shorts views in the past 90 days. Revenue per Mille (RPM):  This is the average amount you earn per 1,000 views. Your RPM can vary greatly depending on factors like your niche, viewer location, ad engagement and video type. Typical RPMs range from $1 to $30 per 1,000 views, but some niches can go even higher. Monetization methods:  Ads aren't the only way to make money on YouTube. You can also explore brand deals, sponsorships, merchandise, affiliate marketing and channel memberships. These can bring in significant revenue regardless of your view count. How much money can you make on YouTube? Now that you know how to make money on YouTube, you’re probably wondering whether you can earn enough for it to be a full-time job. These stats provide some insights into how much YouTubers make : Google pays 68% of their AdSense revenue to the video creator. That means that for every $100 an advertiser pays, Google will pay you $68. YouTube advertisers pay an average of $0.18 per view of their ads. This means a YouTube channel can receive $3-5 per 1000 video views, on average. The amount you make from other YouTube monetization strategies - whether it’s selling merchandise or creating affiliate content - depends on your marketing efforts and the number of fans you have. As with many things, the answer isn’t black-and-white. You might start out making some extra cash on the side - and later, with enough hard work and persistence, make a comfortable living out of it. We recommend experimenting with different monetization options to find the choice that’s best for you and will make you the most money. How much money do YouTubers make per year? Top YouTubers with tens of millions of subscribers can make astronomical amounts of money. Accounts including Mr. Beast, PewDiePie, and Markiplier all make upwards of $25 million per year through their channels alone, and that isn't taking other income streams into account. However, the average YouTuber isn't earning that kind of money. According to ZipRecruiter , the average YouTuber in the United States makes around $1,269 per week, or $66,999 yearly. The top 10% of YouTubers make over $25,000 per month, and the top 1% make over $1 million per year. It's important to note that these are just estimates, and the actual amount of money that a YouTuber makes can vary greatly. However, these numbers give you a general idea of how much money some of the most popular YouTubers make. Tips for succeeding on YouTube You know how to make money on YouTube now, but there are some extra tips to make sure you succeed on YouTube: Create high-quality videos that people will want to watch. This is the most important thing you can do to make money on YouTube. If your videos are not good, people won't watch them, and you won't earn any money. Make sure to do your research, plan your videos in advance, use the best equipment you can afford and to edit your videos carefully. These details matter and will help you stand out on YouTube. Build a large audience. The more people watch your videos, the more money you will earn from ads. This is why it's important to build a large audience for your channel. One of the best ways to build your audience is to find your niche. What are you passionate about? What do you know a lot about? Find a topic that you are interested in and that you can talk about knowledgeably. This will help you attract viewers who are interested in the same things as you. Be consistent. Upload new videos regularly, whether it's daily, weekly, or monthly. This will help keep your viewers engaged and coming back for more, and it signals to YouTube that you take your channel seriously and that you are committed to creating content on a regular basis. Promote your channel. Share your videos on social media and other platforms. Make sure to spread the word so you can get as many views as possible from the start. This will help you reach a wider audience in time. On top of that, spend time interacting with your subscribers. Responding to comments and questions will help you build relationships with your viewers and make them feel that they are part of your community. Be patient. It takes time to make money on YouTube; don't expect to become a millionaire overnight. Just keep creating great content and building your audience, and eventually you will start to see results. YouTube monetization basics Now that we have reviewed the best ways to make money on YouTube, we wanted to cover some information about how YouTube works and some overarching tactics that will be relevant no matter which monetization method you choose. To get started on YouTube, you’ll need to create a channel to host your videos. Uploading video content will not automatically make you money, however. So, be sure that you enable monetization in your settings as you’re configuring your account. This will give you the possibility of making money from your YouTube videos down the line. At that point you can decide which monetization tactics to work with. Another important item to note is that you can make money from your YouTube channel even without millions of subscribers. One of the best ways to do that is by understanding your audience and then targeting them with relevant content. Try to step into the shoes of your subscribers, or who you want to follow you in the future. Once you have a strong understanding of your audience, your next goal should be engagement. Think deeply about what type of content they would be interested in, what would be most useful to them, and how you can prompt viewers to click, comment or subscribe. Only then can you create videos that are sure to succeed with one of the monetization methods. How to make money on YouTube FAQ How do beginners make money on YouTube? Beginners can make money on YouTube through affiliate marketing, sponsorships, and the YouTube Partner Program. To be eligible for the Partner Program, you must have at least 1,000 subscribers and 4,000 watch hours in the past year, or 1,000 subscribers with 10 million valid public Shorts views within the past 90 days. Once you are in the Partner Program, you can earn money from ads that are displayed on your videos. How much will YouTube pay me for 1,000 views? The amount of money that YouTube pays you for 1,000 views depends on a number of factors, including the following: The type of ad that is displayed on your video The country where your viewers are located The overall demand for ads A YouTube channel usually receives $3-5 per 1,000 video views on average. Do you get paid for uploading videos on YouTube? No, you don't get paid for uploading videos on YouTube. You only get paid if your videos are monetized through the YouTube Partner Program and viewers watch ads on them. How can you make money on YouTube without making videos? While creating videos is the traditional way to build a YouTube audience, there are alternative methods for monetization even without directly uploading your own content: 1. Post work from other creators: You can curate and showcase high-quality content from other creators under their permission. This requires good taste and understanding your audience's interests. 2. Alternative content: Explore audio-based formats like podcasts, guided meditations or even curated music compilations. You can also host live streams with Q&As, interviews or gaming sessions, building a community through voice alone. Viewers can show their love with virtual gifts or paid memberships. 3. Business-oriented approaches: Offer consulting services to help other YouTubers grow their channels, become a YouTube Ads Specialist or sell branded merchandise like t-shirts, mugs or other items related to your niche or channel theme.

These days, people are finding creative ways to digitally connect with others from within their homes - whether they video chat with family and friends, play music from their balconies, or create a website to spread the word about their business. Live streaming may sound complex and technical, but it's actually a simple and highly accessible process for anyone. It's also a highly beneficial marketing strategy for engaging with new audiences and customers. Thanks to a wide variety of easy-to-use online platforms, you can produce your own live videos in a matter of minutes. In this article, we’ll go over everything from the equipment you need to live stream to the best live streaming platforms. Then, we’ll dive into how to live stream on your website, YouTube, Facebook, and Instagram. Live streaming equipment Learning how to live stream isn’t difficult, but it does require a bit of hardware and software. Obtaining these various tools is sometimes a barrier to those interested in live streaming, simply because there are so many options and they don’t know where to begin. Here’s a very clear overview of the equipment you’ll need to get started: Strong Internet connection . Be sure that the place you’re filming - whether it’s your home garden, exercise studio, or place of worship - has reliable internet connectivity. Quality microphone . Rather than use the microphone on your laptop or mobile phone, you’ll need to get a professional microphone for clear sound and minimal background noise. Good video camera . To improve the visual quality of your videos while staying within budget, opt for an HD webcam you can attach to your computer. You can also use the camera on your mobile phone, as long as you won’t require zoom. Alternatively, you can invest in a professional camera. Look into the types of cameras t hat are best for casual filming, such as handheld video cameras, or mirrorless and DSLR cameras. Tripod . If you’re filming using a camera or your phone, you’re going to need a tripod to hold the device and keep the video steady. Encoder . An encoder is a tool that takes your content and converts it into a streamable format for the web. Not every live stream platform requires an encoder, but it’s worth having to keep your options open. Streamlabs OBS is an encoding software that is easy to download and use. Live streaming platforms After you choose your equipment, you’ll need to familiarize yourself with the different live streaming platforms. You may want to upload to just one, but you can also upload to all of them to maximize your reach. Popular live streaming sites include: Your own website YouTube Facebook Instagram Your choice of platforms depends largely on your audience and goals. Using your own professional website as your live streaming platform allows you complete control over the way you display your content and shape your story. At the same time, you can use live video as a social media marketing tactic. This is particularly useful if you’re a social media influencer and you want to promote your brand on Facebook or Instagram. Pro Tip: You can use a link in bio tool such as Hopp by Wix in order to direct your audience towards all of your live streaming platforms as well as your website from one designated URL. Let’s go over the steps for how to live stream on each of these different platforms: How to live stream on your website If you choose to broadcast your live video on your website, you can do so using Wix Video . This is an effective tool for sharing all types of video content, including live streaming fitness classes, religious services, online courses , Q&A sessions, concerts, and more. By streaming directly onto your site, you can connect with users in real time. This is especially helpful if you're teaching online or if you want to give your audience feedback or answer their questions throughout your video. Here are the steps for how to live stream from your desktop directly to your Wix website: Download the live stream encoder from Streamlabs OBS. Go to your Video Library, and click “Live Stream.” Under “Go Live Now,” click “Desktop.” Choose “I Have an Encoder.” Select a Wix Video Channel for your live stream. Add details about your video. Under “Video Info,” you’ll see options to add the title, cover image, description, and more. Under “Video Pricing,” you can choose whether to offer it for free or enable rental or purchasing. Then, click “Next.” On the Connect Stream tab, copy the Server URL and Stream Key. Paste them both into the encoder. On your computer, open the OBS Studio Encoder and click “Settings.” Then, click the “Stream” tab on the left. Select “Custom Streaming Server” from the drop-down menu, and paste both your Server URL and Stream Key in the appropriate fields. Click “OK.” You should see a feed from your camera in the encoder. Now is the time you’ve been waiting for: Select “Start Streaming” When you’re finished, be sure to click “Stop Streaming” on the encoder. If you’d prefer, you can also live stream from mobile using iOS. Regardless of which device you use, your video will be automatically saved on your website, so you won’t have to worry about uploading it later. Also keep in mind that even if you don’t want to live stream at this very instant, you can schedule your live streaming event by setting your start date and time in advance. How to live stream on YouTube For those interested in video marketing or vlogging, getting on YouTube is a must. While most of your videos probably won’t need to be broadcasted in real time, live streaming does come in handy for when you want to interact with your audience directly. You can live stream on YouTube using your mobile phone, a webcam, or a separate camera. However, it’s important to note that you already need to be a successful YouTuber with at least 1,000 subscribers to be able to live stream from your phone. If you’re using a camera, you’ll need to use an encoder to live stream on YouTube. Here’s how: Start a YouTube channel . Enable your channel for live streaming by going to Creator Studio tools, then clicking the “Live Streaming” tab. Download an encoder (if not using a webcam). Click the upload icon - which looks like a grey video camera - in the upper right corner. Click “Go Live.” This will take you to the Live Control Room. Select “Live Stream” at the top of the page. Add details about your video. You’ll have the option to enter a title and description, select a privacy setting, schedule your live stream, add a custom thumbnail, and more. Start your encoder, then go back to the live dashboard. Click “Go Live” on the right. To end the stream, click “End Stream.” Keep in mind that if you’re using a webcam rather than a separate camera, you don’t need to use an encoder to live stream on YouTube. Instead, you can simply click the grey video camera icon in the upper right corner, select “Go Live,” and then select “Webcam.” How to live stream on Facebook Another option is to broadcast from your Facebook account . Facebook calls its live streaming feature Facebook Live , a term you may have heard before. While YouTube restricts mobile video to channels with a high follower count, Facebook makes it easy for anyone to broadcast from their phones. Facebook Live has exploded in popularity since its launch in 2016. Research has shown that the time people spend watching Facebook Live has quadrupled in the past year, with live videos generating higher engagement rates and performing better with Facebook’s algorithm. Here’s how to live stream on Facebook directly from your phone: In the Facebook app, tap the camera icon to the left of the search bar. Give Facebook access to your camera and microphone when prompted. Switch to “Live” at the bottom of your screen. Select your privacy and posting settings. Now, add some details: Write a description, choose a location, tag your friends, and more. Add lenses, filters, and drawings to your upcoming video by tapping the magic wand icon. Click “Start Live Video,” and start broadcasting! Note that you can broadcast for a maximum of 90 minutes. To end the broadcast, click “Finish.” If you wish, click “Post your video replay” so that your video gets published on either your personal wall or Facebook Business page. If you’re broadcasting from your webcam, the process is quite similar. Just go to Facebook, click the “Write something” box, and tap the “See All” option in the menu. From there, you can click “Start a Live Video.” How to live stream on Instagram Now for our final live streaming platform: Instagram. You can think of live streaming as a longer ver sion of Instagram Stories. Instagram live videos are meant to be light, casual, and fun, rather than professional. They show your audience what you are doing right now, and in doing so gives them a behind-the-scenes glimpse into your life. Not only is this an effective way to promote your videos, but it’s also an important strategy to build authentic relationships with your viewers so that they can get to know the individual behind the personal brand, or everything that makes your company unique. As with everything else on Instagram, you take live video directly from your mobile phone. This is how to do it: Tap the camera icon in the top left of the feed. Alternatively, you can swipe right from anywhere in the feed. Scroll to “Live” at the bottom of the screen. Tap the circular recording button. You’re now broadcasting live! When you’re finished, tap “End” in the top right. If you wish to share a replay of your live vide o, you can post it on your story by tapping “Share to Story.” You can even add hashtags and location stickers to your story to make it discoverable. Keep in mind that like all Instagram Stories, it will disappear in 24 hours. That’s all there is to it! Live streaming best practices While each of these platforms operates a little differently, they do require similar techniques for maximizing your success. Regardless of the platform you choose, you should keep the following strategies in mind: Know your audience . From the platform you choose to the time you stream your video, every aspect of your broadcast should reflect the interests and preferences of your audience. Be sure to stream your video at a time that’s convenient for your users, and on a platform that’s easy and intuitive for them to use. You should also make sure that the style and tone of your video reflects your brand identity. Whether you opt to keep it casual, professional, or inspirational, speak to your audience in a way that resonates with them. Promote your event . Schedule your event ahead of time, and promote it so that your audience knows when and where to show up. Be sure to announce your event on a variety of channels, such as your website, social media pages, email newsletters, p rinted flyers, and more. Practice beforehand . While your live video shouldn’t sound scripted, you should make a mental note of what you’re going to say. Before you hit that stream button, jot down some bullet points and rehearse your presentation. You should also double check to make sure your internet connection is strong, your equipment is working smoothly, and your environment is free of distractions. Even if you’re shooting a casual Instagram video, scoping out your surroundings can help you avoid any mistakes or awkward moments. Interact with viewers . What makes live streaming such a popular and effective tool is that it allows you to engage with your audience real-time. In other words, your viewers can leave comments during your video, and you can respond right away. This is the primary benefit of live streaming a video, rather than simply posting it. Be sure to do this, as it fosters a sense of community and brings viewers closer to your brand. Follow up . Even as your video draws to a close, you’ll want to maintain the connecti on you’ve just built with your audience. Keep the momentum going by telling your viewers where they can get more information, providing them with additional resources, and sharing your contact details. If your goal is to promote a specific offer or service, you can also provide them with a link to a relevant landing page. If you’re planning to live stream again, be sure to announce that, too. Edit and manage your content . Once you’ve stopped filming, you may be perfectly fine posting your video as is. However, if you want your content to appear more professional, you’ll probably need to make some minor edits. Save your video to your computer, and us e a video editing software - such as the Wix Video Maker - to trim off any glitches, add titles and video captions, and more. You can also try these simple video tips to enhance your content even further. Then, upload your edited video to your website and other platforms of your choice. Congratulations! You now know how to live stream. Remember to gather the right equipment, choose the platform that’s best for your organization and your audience, and captivate your viewers with real-time interaction. By methodically following these steps, you’ll be able to hit the ground running in no time.