Jewellery making has a lot of scope in business for anyone who is creative at mind, but it doesn’t really require any crafting skills. It can be started by anyone – if you are more into technical, or a you want to do it “all by yourself’ with a business idea but not an audience.
Your motivation or skill level could be anything – but every idea comes with it’s own complications and challenges. Because, face it – it’s really a crowded one. Yes, it’s quite old too, and has reached an almost saturation point, but hey, there’s always some room for fresh meat to take on and introduce a new niche altogether.
Nowadays, customer tastes are also shifting to less traditional and more personal. And, this has given an increase in demand for smaller designers working in alternative and less expensive materials. The high-end designers which once dominated the industry, has very less spots opened for them now.
Holidays are ahead, and the online store owners look forward to making the best out of these days, in the form of big sales. They will begin every form of marketing, advertising and retargeting to get their word of sale out in the open. But there’s one strategy that has been overlooked by these owners which has the potential to drive a lot of customers to your online store – Gift Guides.
Many shoppers do a lot of research before big sale events and holidays – this is where gift guides come in. there would be many shoppers who would be looking for great gift ideas – and for that they will look to gift guides and buying guides for inspiration. In fact, there are websites in your niche that specialize in sharing gift guides including products very similar to yours.
Most gift guides are basically some gift ideas for a loved one or friend with a particular interest. Sometimes, they’re compiled for a particular holidays, birthdays, and so on. Getting your products in gift guides can help in increasing your discoverability, especially if you have a very unique or niche product that makes a great gift.
There comes a point in every online business owner’s business, that this thought of how to increase the traffic of his website crosses his mind. Of course, you have spent so much of your time and efforts to set up your store up and running. But now it’s time to maintain the consistency it requires, to keep the sales coming in.
Every time you open up your shop, which you would be doing quite a lot lately – you must be wondering “where are the sales?” And you would always get an unsatisfactory response. You sure have seen a steady growth earlier – but now it all seems to be a little stagnant. Now you must be setting your sights on a bigger goal.
Whether it’s about your first customer or someone who is one of the thousands – generating more traffic to your online store is a crucial part of growing your business. If your site is properly optimized for conversions, a jump in traffic could mean more customers and more sales.
According to Baynard Institute, over 68% of online shopping carts are abandoned. As a marketer, this number should be enough to make them cringe. What if your business was able to convert a portion of these abandoned carts into actual customers? Well, this is where cart abandonment emails come into play. These emails have a high open rate and click-through rate compared with promotional emails.
Despite so many cart abandonments, there is a lack of proper marketing strategy to target these potential customers. Although retargeting is an effective way to recover the lost revenue, the most important tactic is to send cart recovery emails. They are not just highly conversion-centric, in fact they are also personal with a human touch.
Also, email marketing has been shown to have a better ROI than social media marketing, SEO, and content marketing, which is why email marketing is a key part of the marketing strategy of every ecommerce business.
Everyone seems to be wanting in on the action regarding fund-raising – it’s the new buzzword. The overnight star status has everyone wanting to turn to ecommerce and get funded. Many founders and entrepreneurs think that the only way they can create a successful business is by getting funded right from day one.
They forget that somewhere in the middle of all of that is the need to create a business – which is sustainable and long lasting and not dependent on funding. Studies show that the vast majority of these businesses are self-funded – which is usually known as bootstrapped.
Simply put – bootstrapping is where you start your company with your own finances. This could include help from friends and family but is basically your own money and where the risks are huge. If you do not have the right financial management skills and the knowledge, you could end up failing with serious debt issues. On the other hand, if you can pull it off, the rewards are huge.
The real skill test begins after launching your ecommerce site. The lull after the launch, is what that should be dealt with skilfully. You’ve just launched a new ecommerce business and can’t help but keep clicking and marvel at how great your products are. But the orders haven’t started to roll in. So now what do you do?
New ecommerce business owners often find that orders are slow to arrive when the site launches. It can be hard to figure out why. It will take time for your ecommerce business to grow. Leading up to the launch, you were busy getting products ready, working on the website, opening merchant accounts, and creating social media profiles, among other tasks. You had action items on your to-do list.
Today’s ecommerce world is moving faster with each passing day, and the need to get everything done rapidly is the mantra these days. Yes, that is certainly the most obvious way that people shop and that becomes the process of online businesses. The landing of online logistics commercial centers in the recent years has really turned up the ecommerce industry.
With so much potential in the market, logistics area is certain to develop. With so many hyperlocal companies coming up each day, the industry will undoubtedly get instant boost and support which will result in better and long lasting customer satisfaction.
Delivery of the perfect and satisfactory product to the customer on-time could be a really big challenge. In spite of the fact that, online stores can utilize dispatch organizations for conveying their item to customers. There are pro organizations that handle logistics and delivery of a product for ecommerce business.
Generally – When you meet someone you cannot help learning something about them. The more you interact with this person, the more you learn. In the context of interpersonal relationships – it is also true for business relationships.
Interacting with a customer, for a retailer – has an opportunity to learn a little more about them. This gives retailers and idea about how to serve them better. There is an opportunity to market to that shopper in new or better ways that improves his shopping experience and increase store profits.
As an online or multichannel retail store interacts with a shopper, there is a similar exchange of information. Each party learns something about the other. Over the time, if a customer makes several purchases or interacts with the retailer in other ways, the retailer will get to know that customer.
We have discussed about cross-selling and upselling, in our earlier topics. These both are good ways to boost your ecommerce business sales in the continuously competitive world. Upselling is basically – when you sell similar products which are either complementary or goes with those products which your customers are buying. This, quite obviously, would increase the products in their carts.
When environment was more of a traditional one, businesses know exactly how to increase order value and basket size. By quickly surveying their consumer’s in-store behaviour, they can offer complementary items and accessories to drive up the value of any individual sale.
But today, when almost every consumer is continuously adopting online shopping, upselling requires a new set of tactics. It has become increasingly critical for retail marketers to optimize digital revenue opportunities for delivering the promise of long-term, profitable growth through ecommerce.
We know, how difficult can it be – we also know how to make it easier. A lot of guidance has been provided on internet by various experts on this topic, there is a lot of help that a first time business owner can gather to start their business.
Most important thing is, when you have chosen the niche/product – is how to organize and manage the products on your store. You can now start a business in just three steps.