Like I mentioned in Part One, I started the retail business that I later sold with very limited resources (basically just me and hardly any revenue!). But with patience and through successful marketing strategies that I implemented, in small steps over the years, I was eventually able to expand my rental space and grow the revenue of the business.
How did I attain this? I will focus on one of the strategies that worked for me and my small business in this blog on selling online, which is the last part of a six part series. Hopefully you’ll find some inspiration in my story which may be helpful to you and your business.
Sixth Strategy: Selling your products online – embracing the digital marketplace.
In an era where technology dominates every aspect of our lives, it’s no surprise that the world of commerce has shifted to the online realm. Selling products online has become a pivotal strategy for many businesses of all sizes, and with good reason.
What are the advantages of selling your products online?
- Larger potential customer base.
- One of the most significant advantages of selling products online is the ability to reach a vast audience that transcends geographical boundaries. Unlike traditional brick-and-mortar stores who are limited to a specific location, an online presence enables any business to tap into a larger, if not global, marketplace.
- Convenience.
- The convenience factor for customers cannot be overstated when it comes to online shopping. With a few clicks, customers can explore a wide array of products, compare prices, read reviews, and make purchases without ever leaving their homes. By providing a seamless online shopping experience, you can attract more customers and build loyalty in the long run.
- An online shop is open 24/7.
- Unlike physical stores with fixed operating hours, an online store is open for business 24 hours a day, seven days a week. This constant availability ensures that customers can access your products at any time that suits them best.
- Flexibility.
- Selling products online offers immense flexibility and scalability for your business. You have the freedom to update and modify your online store, showcase new products, and adapt your offerings to changing market trends and customer demands with ease. Additionally, as your business grows, you can expand your online operations, diversify your product range, or even venture into new markets without the constraints of physical limitations.
- Access to more marketing data.
- Selling online gives you access to data that can enable you to create personalized campaigns, reach specific demographics, and track the effectiveness of your strategies in real-time. Analyzing data such as website traffic, conversion rates, and customer behavior provides valuable insights to optimize your marketing efforts and enhance the customer experience. These analytical capabilities empower you to make informed business decisions and continuously improve your online store’s performance.
Selling products online has become a necessity for businesses seeking sustainable growth and success. By having a shop online, you can connect with customers outside your geographical location while unlocking a world of possibilities for your business. So, by taking the leap into the digital realm, you will witness the transformative impact it can have on your product sales and overall business performance.
Here is my example:
After a few years of only operating a brick-and-mortar shop (and when the technology allowed it) I decided that it was time to add an online shop. I started researching online shopping platforms and I was lucky to have found one that could connect with my existing point-of sales terminal. By being linked, my inventory was always up to date and making price changes was easy and done on both platforms at the same time.
At first, sales coming from the online shop were few and far between. I discovered from my customers that they were using this platform mostly as an online catalogue. They would research certain items by checking out the prices and making sure that we had these items in-stock, before visiting my shop in person. Even though my online sales were low, this platform was indirectly impacting the growth of sales in my physical shop.
I persevered and continued to improve my online shop by refining the navigation, adding products to grow the online inventory, as well as including services that customers could pre-pay. Little by little, sales originating from the online shop started to increase. One of the additions that helped the growth was the pre-paid revenue that came in from the courses that I taught. People who were interested in taking a course were able to find all the information about it, register, and pay for it all at once, in one place, in advance. My courses then started to sell out. This was one of the reasons why I loved the versatility of my online shop and the many possibilities that it could allow.
Then the COVID-19 pandemic hit, and my online sales exploded! I was so glad to have been ready with a functional online shop, which I had spent years building. During this pandemic, due to government-imposed restrictions, my physical retail shop had to close twice, but I was still making sales online. Due to the continuous flow of revenue coming in online, my employees and I were able to still work and be paid. It is no exaggeration to say that my online shop saved my business during that time.
If you are hesitating about investing in an online shop, don’t. But do your research to find the best platform for you and your business. Once you do, and while you are building it, keep in mind that content is still key – make sure that you have relevant and concise descriptions for all your products online. Having good product descriptions will increase the chances that potential customers can find you and make purchases online.
Would you like help with setting up a marketing strategy to sell online? A freelance marketing specialist (like me!), who specializes in digital marketing can help you establish your strategy and coach you on how to implement it. 😊
Part 1: How I grew my business by investing in marketing.
Part 2: How I grew my business through social media marketing.
Part 3: How I grew my business through online reviews
Part 4: How I grew my business through email marketing.
Part 5: How I grew my business through community engagement.
