Growing your eCommerce business – Some tips

Growing your eCommerce business – Some tips
March 10, 2016

The thumb rules

It is imperative for business owners to follow the basic principles of commerce while simultaneously keeping abreast of all advances in the vast commercial arenas.

Investing money is the easiest part, next is setting up the enterprise while the most difficult is organizing, sustaining and coming up trumps. Initially, the first focus should be on getting your act together and reaching a point where you are able to make both ends meet.

Read also: Product Videos can Play an Important Role to Flourish Your Business Fast

In other words, the initial foray into a startup or a freshly taken over enterprise is to break even which is not always possible or feasible given the harsh realities which we have to actually face according to the ground conditions surrounding or inherent to your situation.

The following are some aspects which will aid in growing your eCommerce business:

  1. Technology should be reviewed periodically to introduce innovative new technologies in your business,
  2. To speed up processes to save time, effort and money to enhance productivity,
  3. To speed up communications with customers, distributors, suppliers, potential clients, etc
  4. To ensure faster transactions and processes leading to higher efficiency in all processes.

Remain updated but prudent

If you step cautiously and use latest technical gadgets, you can ensure the growth and expansion you desire.

As far as practicable, your setup should be technologically up-to-date whether it is your::

  • Manpower management,
  • Products and their “Use Before” dates,
  • Delivery / distribution systems,
  • Procurement policies / replenishment,
  • Accounting methods,
  • Equipment and assets.

eCommerce does dictate so many steps BUT prudence is the golden key that was instrumental in producing retail and other giants.

Read also: Effective Growth Hacking Tips and Tricks for Your Online Business

But, it is not enough if you know your customers, THEY should know you.

M-commerce

is a major chunk of the eCommerce revolution since it has given access for the biggest markets to directly reach a million homes and multi-million customers through advancements.

The following are some steps which might come in handy:

A customer first-last-and-always focus

Through higher rate of interaction; you need to collect a database of existing clients and potential ones; find topics of common concern which will help you in interacting to form a relationship, a systematic and sustained KYC campaign can be a big help.

This aspect is your whole bread and butter hence, you should be prepared to go beyond the call of customer care to satisfy your individual and collective customers even if it comes at a cost.

Read also: Well-Kept Secrets on How to Quickly Make the First 100 Sales

Email

It is the most common, most handy and most frequently used tool of eCommerce and M-commerce both; doing it the smart-phone way is overtaking all other eCommerce tools

Discounts and their deployment

The public knows it all so whenever a discount or buy-one-get-one free scheme is launched it has an immediate communication with the customer implying that the company is unable to sell according to its targets, or is unable to clear the warehouses and is desperate,

Why advertize?

This is one activity which might be considered a necessary evil by most of the business fraternity since it may provide an impetus to their diminishing sales but this is one area where you need to tread very carefully because it is an activity where the responses are not guaranteed; moreover, some companies just take you for a ride while charging exorbitant amounts.

So, prudence dictates that you tread carefully before taking a plunge.

Read also: Tools that can Propel Your Online Business to Success

Selective stocking

This is one aspect which you may learn the hard way, you will have to have a workable (read practical and applicable) to avoid unnecessary wastage due to unplanned stocking; it locks up your money.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Niche Website List


DISCLOSURE: We may be an affiliate for products and services that we recommend. If you purchase those items through our links, we will earn a commission. You will not pay more when buying a product or service through our link. In fact, we oftentimes are able to negotiate a lower rate (or bonuses) not available elsewhere. Plus, when you order through our link, it helps us to continue to offer you lots of free stuff. :-) Thank you, in advance for your support!