How to Take Your E-Commerce Business to the Next Levelsubmitted on 23 August 2017
Article kindly provided by Gruber Pallets
Starting an e-commerce business is easy; taking it to the next level is more of a challenge. Most people start their e-commerce business from home. It’s easy to begin selling goods online thanks to auction sites like eBay. You don’t need to carry a large inventory or even work the business full-time to start with, which makes it perfect as a side hustle. But, as time goes on, your fledgling business will grow and prosper, so you can start thinking about taking it to the next level.
Is it Time to Grow?
Once the business begins to grow and you find yourself putting increasing numbers of hours into dealing with orders, customer queries, and suppliers, it is time to expand the business. In theory, this is simply a case of ordering more inventory and marketing to attract new customers, but in practice, things are a little more complicated.
Marketing
If you are ready to push forward, you need to develop a marketing strategy. You should already have a solid customer base if you have been selling goods on eBay and Amazon, so now would be an excellent time to invest in an e-commerce website.
Choose a suitable platform – Shopify and Magento are two of the most popular e-commerce solutions for new businesses – and create a branded website that fits your niche. Once your website is up and running, begin marketing it to new customers.
Target social media and invest in PPC advertising to draw traffic to the site. It may take a while to see results, but social media and PPC are both very effective for e-commerce businesses.
Inventory
Growing the business means investing in new inventory. You will have to expand the number and range of products you stock, but be careful not to tie up your cash flow in inventory you can’t sell. Be very cautious about buying extra inventory. Only purchase what you think you can sell. Analyze your statistics to see what lines sell best and increase your product range according to buying patterns.
You may need extra storage space if you are taking on new inventory. If you are running out of space at home, look at renting a storage unit, perhaps one with office space so you can work outside the home. Create a packaging area so you can streamline your dispatch operations. For smaller goods, have a workbench for packing parcels, and for larger items, buy pallets for storage and shipping purposes.
Shipping
As the business grows, it is wise to look at negotiating contracts with shipping agents. The larger the business, the more clout you have when trying to secure cheaper prices. Parcel couriers and shipping agents will almost certainly offer you greater discounts once you start sending more business their way.
All Hands on Deck
There is a limit to what you can do on your own, so sooner or later, you will need to recruit helpers to assist in the business. Look for students or part-timers to give you a hand, or ask the family to help out until you find your feet.
Building a viable business is hard work, but it can be done – you just need a strong work ethic!
|
