Your home-based eCommerce business getting too big is not a bad problem to have. Growing your brand far beyond your expectations is a dream come true for most entrepreneurs. However, what happens when you wake up one day, and you’ve outgrown your home-based eCommerce business? Here are a few tips for moving your business to the next level.
- Use a 3rd Party Logistics That’s Reliable: Amazon is the largest 3pl in the world. You ship your products to Amazon and advertise on the web. Amazon, or any other 3pl, picks, packs, and sends your inventory to customers. They even handle customer service issues on your behalf. But moving from a home-based business directly to Amazon might be a little frightening. Hiring a professional company such as Velocity Sellers to smooth out all the bumps in the road to Amazon might be a worthwhile investment.
- Hire Experts: Now that your business is successful, you can stop doing it all. Instead, rely on experts to keep things running smoothly. From advertising to product launches, hire people and companies specializing in the services you need to get the job done right.
- Build Your Brand Outside of Amazon: Amazon might be the largest selling platform globally, but it certainly isn’t the only one. In fact, other 3pl’s might suit your brand better, at least initially. Diversifying your selling platforms will lead to better exposure and more sales, two must-haves in the world of eCommerce.
- Have Team Meetings: Now that you have employees, you need to stay connected with team meetings. All employees need to focus and need to keep in touch with the company’s vision and mission. While you might have been a one-person business before, now you have depth. Be a good leader and communicate with your team.
- Go Multichannel: Multichannel marketing is the blending of different distribution and promotional venues for marketing. Some examples of distribution channels include a retail storefront, a website, and a mail-order catalog. Having a variety of channels means more exposure, and it helps you promote and sell your brand to several target audiences.
- Know Your Profitability: The bottom line is you have to keep a close eye on your bottom line. Don’t get so swept up in the daily grind that you lose touch with your spending vs. your earning. Simple profit margin calculations will help you budget and spend within your means.
- Create an Organizational Chart: It might seem old school, but visuals are powerful. They can be a quick reminder of what’s working and what’s not or what’s done and not done. Having a constant visual of what’s essential for your business can keep everyone grounded and on task.
- Consider Your Keyword Strategy: Keyword strategy is massive in internet sales. Coming up with a group of words tied to your brand that a customer would ‘search’ is critical to having your brand pop up for customers to ‘click.’ Be sure to analyze the results on your keywords often to make sure they are still driving customers to your brand.
- Know the Trends: Keeping current with business patterns and changes is a savvy business move. Sometimes being just a little behind a trend can mean a missed opportunity.
- Inventory Forecasting: Make sure you are accurately predicting how much product you will need based on previous sales and upcoming events. Running out of product is a costly mistake. Likewise, having too much inventory can also put a crimp in your profitability.
Getting your first big eCommerce boost can be both exhilarating and terrifying. Sometimes businesses skyrocket in popularity overnight, and what was just a ‘so-so’ venture is now robust beyond your wildest dreams. When this happens, don’t panic. Experts in internet sales such as Velocity Sellers can make your transition to the next level painless and easy.
