The 9 Core Parts You Need to Know to Increase Profitability in Your Business

written by Carlos Alvarez
5 · 10 · 22

Every retail company has one agenda: to make a profit. This is the same from the large retail companies to the small mom and pop shops. Online selling is a major factor in every successful business. There are nine core part you need to know to be profitable.

1. Product Marketing: Not what you want to see but what people want to buy

Profitable marketing follows the 80/20 rule. This means that 80% of your profit will come from 20% of your products. This may be a product you do not expect to sell the most. It may not sell on other sites but sells well on your website.

2. Predictable retention

Repeat buyers are the holy grail of growth. If your consumers have a great experience, they will most likely return. When selling on Amazon there is a lot of competition and the focus is on the display and bringing customers to your product. When you have customers and can take them from Amazon site to your website, they will more likely to return and purchase from you again.

3. Powerful Offers

When selling on Amazon there is so much competition that it is hard to get the customer’s attention. Powerful offers get customer’s attention and points them to your website. Make sure the offer matches what you are selling. For example, if you are selling workout protein then offer a shaker with it.

4. Positive experiences

You need to have a follow up with customers to ensure that they are having a good experience. This means you cannot stop at making the sale. Have easy customer service by phone or email. If there is something that goes wrong, then follow up. Customers who have positive experiences will be a brand ambassador.

5. Promotional content

Promotions need to be updated regularly. This is normally up to every 14 days. The marketing world has been changed with social media. Content will get stale and needs to catch the eye on everything from emails to TikTok. Know your market and how to catch their attention on a regular basis. No one wants to see the same commercial for one month; this is the same for your promotional content.

6. Pleasant infrastructure

Allow customers to do what they came to do, ultimately purchase your product. This is as simple as allowing multiple ways to purchase, not just PayPal. Is your website easy to follow? Are the right products on the website? Can your customer navigate where they want to go? Check your Shopify theme or website design. Is all the correct information on your sight?

7. Pristine branding

On Amazon there are very specific rules for pictures and design. If you are bringing people to your website or Shopify site, you will need to change this thought pattern and make your branding appealing to those you are targeting.

8. Persuasive copy

This is more than just a few #tags, it is writing the right words to sell your product. Most people think that they can find the product they want on Amazon, so you need to find a way to bring them away from Amazon and to your site. This is done through color, fonts, design and SEO platforms.

9. Profitable traffic

You need to have quality and quantity of traffic coming to your website. The more people who come to your website, the more money you are going to make. Taking a look at where the traffic comes from can help you understand where your growth. How many customers are from email, Facebook and external sites? What are you willing to do to bring more traffic in from each traffic area? How much ad spending are you planning?

Selling online can be challenging. You need to be noticed for the right reasons and not only bring customers to your website, but you need to bring them back again and again. These 9 steps will help you be profitable and allow your customers to be your brand ambassadors. For more information on ecommerce click here.

Carlos Alvarez

Alvarez sums up his mission to help online sellers with a quote he heard early on in his career. New sellers constantly compare their Chapter 1 to another seller’s Chapter 20. They see what other veteran sellers are doing and they judge their success and failures by this benchmark. His goal is to show sellers a realistic path to success, and how they can enjoy every chapter of their own, unique journey.

Related Posts

Three Ways to Grow your Business with Brand Licensing

Three Ways to Grow your Business with Brand Licensing

Looking to grow your sales on Amazon, Etsy or Shopify but not sure about your next steps? Consider brand licensing. This is an excellent way for any creative product makers (art, music, software, characters) to keep growing their brand. What is licensing? Licensing is...

Top Tips on How to Price Your Products

Top Tips on How to Price Your Products

Are you ready to start selling online? Of course you are! Maybe you have been selling for a while and have a bit of uncertainty about the pricing? That’s common too. Most people who are just getting started wonder about how to price their products. If you ask too...

Boosting Amazon Sales with Facebook Marketplace

Boosting Amazon Sales with Facebook Marketplace

With online selling creating billions of dollars in revenue and reaching millions of customers on a daily basis, it is no wonder that many people are using Amazon as their primary way of selling their products. Like every businessperson, trying to create a better...

Comments

0 Comments

Submit a Comment

Your email address will not be published.