Five Tips to Successful Online Retail in a Down EconomyWhen it comes to successful holiday planning, below is a list of ideas that should help you in these tough times, and potentially allow you to see gains during Q4 that you’ve been looking forward to from a sales goal perspective all year long.
1. Free Shipping
Many people are aware that free shipping and discounts work but don’t utilize them. It’s time to wake up and smell the coffee Mr. Marketer. People are driving less due to fuel costs and less money in their pocket. Consumers are already preparing themselves to find the best deals possible BEFORE the holidays get here - which means you need to get into this competitive market fast.
Free shipping, no matter the method, is IMPORTANT. Let’s say I’m looking to purchase a product on the Internet. I find the item, note the SKU, and if the retail site that I’m sitting on does not offer me any shipping discounts, I then search for the SKU and “free shipping” on Google to find the product elsewhere. Boom - you lose a sale THAT fast. I don’t know how much more plainly spelled out this issue can be. Implement free shipping!!!
This is how Internet shoppers think. It’s your responsibility to be competitive in your online sales environment - your competition already is . . .
2. Affiliate Programs
Gone are the days of purchasing huge ad / branding positions on portals and other large sites. Impression advertising with transaction goals simply do not perform today, or at least anywhere near the degree they did in years past.
Affiliate programs, or revenue-sharing agreements, are GOLDEN for online sales opportunities - and it’s truly a win-win situation for the retailer and the affiliate. Let’s make this really easy - find a site that relates to your own. Contact the person that operates the site and see if they would be interested in a percentage of sale (the higher the offer, the more willing they will be to deal) in trade for impression-based advertising. If a user clicks through the ad component on their side, makes a purchase on your site, the web site owner gets a fixed percentage of the sale. You’ve accomplished a few things here - Cost Per Acquisition advertising, a new online relationship, a new inbound link (great for organic SEO), and a new customer that might have never seen your goods at any other time or web site. This is a win-win situation all the way around.
3. Promote Gift Certificates
There are three main reasons for the extreme push of gift certificates and gift cards this holidays season:
1. Gift cards allow the gift recipient to pick out what THEY want (lessening the chance of returns)
2. Gift cards are non-refundable. The sale is YOURS.
3. Gift cards and gift certificates available online saves the consumer gas, money, and time.
It’s THAT simple . . .
4. Selective Product Merchandising / Marketing
I’ll speak personally here for a moment. Though I have not been directly affected by the current economy, it has shifted how I’m looking at expenses for holiday. I must cut back so that I can still give the gifts I want, but also insuring that I’m not going beyond my means. Enter product merchandising strategies!
Here’s what I observe consumers NEEDING from online retailers:
* Strong Gift Categories with navigation by price point
* Gift certificate promotions on the homepage
* Shop by “Person” - i.e. For Mom, For Dad, etc - all by price point
* Up front shipping policies and delivery expectations
* Easy returns and detailed return information
These are tactics and strategies that almost every online retailer should be able to implement using existing resources.
5. Post-Holiday Sales
Beginning in December of 2006, many online retailers moved to the post-holiday “sale” strategy BEFORE the holidays were over. I.e. top online retailers had their post-Christmas sales staged to automatically populate their website when the clock strikes 12:00am on Christmas Day.
Following this strategy is sound. Many people get new computers for the holidays, new gift cards, and they are ready to shop. Even without a gift card, in today’s economic landscape, the sales alone can help you make your sales plan for the month of December. Beyond staging your sales to hit the target date, you must also stage content to reflect your sale strategy. Though smaller retailers may need a “manual push” in the early hours on December 25th, it’s those retailers ahead of the game by even 1-2 days that benefit the most.
In closing, I’m optimistic about Q4 online sales and their potential. At the same time, I am cautiously optimistic that Etailers are already looking at post-holiday strategies to keep revenues growing post-holiday.
Never use the term Shipping without ……also the word handling -
I find and here complaints from people who charge to much for shipping - when a customer of yours sees that you have charged them more than the price that is listed on the shippisng (UPS) website, they come to the conclusion that your price was good, but you make up the difference on the shipping charges -
When using Shipping and Handling , the extra charge can then be determined it must be for the handling (packaging materials) etc.
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3. Add items into eBay from your new ecoomerce store and link them back to each other, from ebay and then to eBay as well
Top Ten Tips To Successful Dropshipping
By: Mark Kenny
Tip 3: If you are dropshipping, this means that the item you are selling is not in your possession. It’s very important to let your customers know this. Sellers should indicate that the item will ship directly from your supplier.
Tip 4: An important factor to consider is the delivery time. It’s pertinent to let buyers know that, because the item is shipping directly from your supplier, they may need to allow extra time for delivery. Make sure to ask your dropshipper how long delivery takes so that you may pass this information on to your buyers.
Tip 5: If a problem should arise during the course of shipment, or if a shipment is delayed, promptly address the issue with your buyer. It’s important to have good communication and to let your customers know that you are always there to answer their questions.
Tip 6: Be cautious of a dropshipper who requires that you pay a fee to access their product line. A legitimate dropshipper should not charge to set up an account.
Tip 7: When ordering from a dropshipping company, there should not be a minimum order. It’s normal to get discounts on larger quantities, but the dropshipper should be able to accommodate any order size from 1 to 100.
Tip 8: Consider doing business with more than one dropshipping company. It’s always a good idea to shop around for a larger variety of better deals. Don’t put all of your eggs in one basket, so to speak.
Tip 9: When you begin doing business with a new dropshipping company, order a few test products for yourself. Afterall, you are the one who will be selling the products and you will want to make sure the company offers quality products, reliability and accuracy in filling orders.
Tip 10: The whole idea behind dropshipping is wholesale. You are buying a product at such a low price that you should be able to sell it for a profit. The dropshipper is the wholesaler and you become the retailer. It’s easy to forget that some things really are too good to be true. Just like everything else, there are scams out there so be careful. The bottom line is that regardless of how wonderful the deals may seem, start slow and build up to larger orders as you become more comfortable with the process.