How To Save A Small eCommerce Business From Being Killed By The Mega Retailers
It's no secret that some of the country's biggest corporations are either gaining increasing control over the market or drowning out all competition. This is especially true for eCommerce businesses, which have to grapple with behemoths like Amazon and Walmart. Yet, there are ways to survive, even thrive! Read on for some strategies on how you can save your small eCommerce business from being killed by the mega retailers!
The first step to thriving against a corporate giant might sound silly - but it could actually be your saving grace. Get creative with how you package your products.
The average consumer is not going to be interested in a product that is packed full of boxes. Once your item has been purchased, it needs to be displayed on a shelf. This means that you need to figure out how to get rid of all those boxes! One good idea is by using tiny boxes for packing small products and larger boxes for more complex products. Do not forget the supplementary shipping materials, which include manuals, receipts or other marketing items you may need your customers to be aware of.
Have a "No Return" Policy
A return policy can help boost business since it allows your customers some flexibility if they change their mind about their purchase. It can also protect your business from a negative customer experience. For example, you may have found a terrific deal on two different products. Your costumer won't be happy that they did not get the cheaper version of the first product when they only ordered one. This is why it is important to have a robust return policy, which ensures that your costumers do not face any undue hardship during their shopping experience.
Since every online business has to contend with the threat of being outbid on an eBay or Craig's List auction, it is important to add extra safeguards. One way is to look into purchasing a business insurance package that will protect your business against loss of profit in the event of auction listing. You should also ensure that your customers are fully aware that you are participating in these services.
Let Your Customers Know That You Are Available 24 Hours a Day For Their Inquiries
One of the most frustrating problems for small businesses is when they cannot answer all customer inquiries. Having an "open door policy" is one method to allow customers to talk to you at any time, day or night. It can help boost sales because your customers will feel more comfortable talking with you since they know that at any time, day or night, there will be someone available for their inquiry.
If you are not sure where to start when it comes to creating an "open door" policy, consider hiring a virtual receptionist. A virtual receptionist is a company that employs real people that can provide your customer service. This allows you to have a 24-hour reception without spending any extra money on staff. Since these services are cheap and easy to use, it is an excellent option for those that want the benefits of having a lobby full of costumers talking with each other and buying from your store!
Another way you can make your business stand out from the rest is by selling uncommon items. If your business is in an over-saturated market, this can help you get some breathing room.
Even if you are not located in an over-saturated market, it may be time to start changing the way you do business. Think about what you can do to break away from the norm and what new items or services that you can offer your customers. For example, if your store sells power tools, it might be a good idea to start offering services around how to use those tools for home improvement projects.
Another great way that eCommerce businesses can stand out from the cluttered market is by embracing social media as a means of customer outreach . Now, more than ever, people are checking Facebook, Twitter and other social outlets to get the scoop on what is new and what is going on in their local area. This is a great way to reach your customers directly!
You can even give everyone a taste of your products before they commit by using social media apps like Pinterest! Pinning virtual samples of your products or photos of how the goods are used can help sell your items in ways that traditional methods cannot.
If you are unsure how you plan to market utilizing social media sites such as Facebook, Twitter or Pinterest, consider using a tool called ManageFlitter . This tool allows you to see which followers will have the best response to your marketing efforts. This means that you won't have to spend time or money trying to market to a group that will never respond well to your product.
This is where the online platforms give small businesses an advantageous competitive edge . If you are just starting out, one way to gain better pricing on your products is by using voucher sites like Groupon or LivingSocial. These sites will offer discounted vouchers for your business, which can encourage consumers to buy from you instead of a bigger competitor.
If you are already well established in the market, there is another great way that eCommerce businesses can get cheaper deals on products and services. Try using merchant cash advances as a financing method for purchasing inventory. This is a fast and easy way for you to get your items on-hand so that you can get sales in a hurry. This is also a great option for those that are going through bankruptcy or other financial issues that might prevent them from being able to afford the initial purchase price. Even if you are one of those people, merchant cash advances are an awesome way to cut upfront prices on your items.
Another thing that eCommerce businesses can do is offer incentives such as gift cards or eGift cards . Many consumers will not be interested in ordering online if there was no incentive to do so. Gift cards and eGift cards allow your costumers to choose what they want so that you can lower the overall shipping costs. Since most people may not be able to afford buying your items right away, this is a great way to obtain sales at a later date.
Buying and selling online has become easier, fun and more profitable for small businesses than ever before. That is why it is important for every business to take advantage of all of the benefits of being an online business owner.
Conclusion
I'd like to thank you for taking the time to read my article. If you did find it useful, I ask that you "Share" and "Like." And if you have a question that I didn't address here, please feel free to leave me a comment below. Also, if there is anything else that I can add, I would be happy to do so. Thank you again for reading!
Best of luck on your journey to success!
Update: Keeping in mind some of the comments below, let me rephrase one thing: This is from my own personal experience only. Sometimes things work out great and sometimes they don't.