Boss Lady

Don’t sell yourself short! Top 6 secrets of online retail success


New online retailers have to work hard to find their place in the market. While you might sell products, you’ll never achieve maximum sales without developing your strategy. Considering that, we’ve listed the top six secrets to online retail success in this post. With a bit of luck, the information will help to point you in the right direction. In most instances, you just need some basic business knowledge and a bit of luck. However, there are lots of things you can do to tip the scales of balance in your favour. We’ll highlight the route you need to follow in the hope of making your life easier. Of course, sometimes you have to think outside of the box and try something new to beat your competitors. Even so, you can make a lot of headway if you use this article as a guide.

Choosing the right brand name

Your brand name is everything when it comes to selling products online. You need to choose something short and snappy that people will remember. So, now is the time to consider your options. Create a list of potential names before choosing the best one. Ideally, you want the brand name to have some relevance to your operation. For example, Amazon chose that name because it is the largest rainforest in the world. They were highlighting the fact that they would become the world’s most successful online retailer. You get the idea, right? If you can select something that makes people think, you will always get better results. If you get stuck, you could always ask your friends and associates. Sometimes two minds are better than one. Just ensure they don’t expect credit for the name if they make a suggestion you like.

Designing a professional website

The site you use to sell products needs to meet industry standards. That means you have to contact a reputable developer and explain your intentions. They will then come up with a design that meets your requirements. You might have to spend anything from one-thousand to five-thousand euros depending on the specialist. Try to ensure they keep your pages as basic as possible while also making them look upmarket. That is the best recipe for getting the results you desire. If users have to spend a long time looking around for their chosen products, most will go elsewhere. You need to make life as easy as possible for them. You also need to ensure you include a live chat feature so customers can get in touch if they have an issue. Live chat is the best solution because you can deal with their problem in real time.

Developing a watertight marketing strategy

There are lots of different promotional avenues you might consider when launching your business. As you’re becoming an online retailer, it makes sense to focus most of your efforts on the digital landscape. That’s a good thing because it means you won’t waste money on indiscriminate advertising. A suitable Google Adwords partner could help to drive lots of traffic to your site using PPC. You might also want to recruit a social media manager to handle all your different accounts. Building a strong presence on Facebook and Twitter is vital if you want to create the right image. It’s an excellent tactic for finding new customers and ensuring everyone gets to hear about your brand. You might also consider paying for some creative content marketing or publicity stunts. Both are known to work well.

Offering excellent customer service

Research shows that over 80% of sales in the modern business world come from existing customers. That should help to highlight why you need to place emphasis on keeping them happy. Answering phone calls and dealing with complaints can become an expensive task. However, there are some ways in which you could lower the cost until your company is established. For example, you might consider outsourcing the job to experts. In that instance, you create a script for them to follow. They answer all your calls and deal with all correspondence. Your customers will think they are speaking to a representative from your company. They won’t know the difference, but your bank manager will!

Rewarding loyal customer

Alongside cutting-edge customer service, you also want to reward the people who spend money on your products. That is especially the case if they make multiple purchases every month. Set a threshold, and then contact people who exceed that limit. Send them money-off vouchers or something similar. When they place their next order, you could even send them something for free based on their purchase history. It should be easy to work out which items they’d like most. You could also reward people when they introduce friends to your website. Give them a code their friends can use, so you know they’re associated. For every purchase their chum makes, you could offer them cash or an increased discount.

Creating a growth plan

Knowing how you plan to progress your operation at all times is vital. You must understand the profit limits you need to reach before you plan to expand. That way, you can ensure you never make the right move at the wrong time. Unless new information surfaces, you should always stick to your growth strategy. It should highlight how you plan to take your company to the next level, and when you intend to do it. There are templates available online that you could use if you struggle. However, the best solution is to contact a business advisor who has lots of experience. They will assist you in creating a document that’s workable and feasible.

Well, that’s about it for today ladies. We hope you now have a better understanding of the road ahead. At the end of the day, launching an online retail company could be the best thing you ever do. It could turn you into a successful millionaire one day. Your family might not have to worry about money, and your kids might get an improved quality of life. So, don’t hesitate if you come up with a concept you believe would work. Sometimes you just have to bite the bullet!

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best. We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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