Running a storefront business is not the only way to reach your customers. With many customers choosing to shop online, expanding your sales channels to the internet, by way of website or other selling platforms can be a great way to boost revenue. For some business, knowing where to start is half the battle. In this post we will review the 5 steps you can take to get your storefront business online and making sales in no time! Lets get started.
- Get a website
In order to have an online business presence you will need an online platform to get your product out there. Consider starting a website to sell your items, market your products, and create a one stop online shop. For some businesses, the idea of starting a website is daunting. Starting out by selling on eBay, Amazon, or other platforms may be a simpler way to ease into the market. Another option is launching a simple e-commerce site featuring shopping cart, easy check out, and simple designs on platforms such as Shopify, Squarespace, Weebly, or Wix to name a few.
- Identify online price-points
Selling in store and online are vary different things. When selling online you have to factor in shipping costs, potential return costs, and packaging to send out orders. Start by identifying your price points, margins, profits, and possible losses and determine what the revenue would be if you sold an item in store versus online. Depending on your product you may be able to cut out excess costs by finding a distributor to ship your product or a facility to hold your product for quick shipping.
- Prepare Mock Ups
People need to know what your product looks like! Online shoppers first buy with their eyes. Start by taking some great images of your product and begin categorizing what it is you want to sell. Prepare a good variety of product mock-ups that you can use on social media sites, your website, Google Shopping, or other selling platforms. Highlight the best features when showing customers what they will get when they make an order from your store.
- Start a web based campaign to sell
Unless your business has a long standing website already, getting found on the Internet may be tough when first starting out. That is where online marketing tools come in. Start a web based campaign to get the word out. Share on your social media accounts, create a Bing Business and Google Business page, and search for other listings where your customers may be shopping. You need to let the Internet know you are here!
- Build a contact list
You have customers coming in the doors so why not turn those into online shoppers? Start by collecting sign ups for every customer who comes in by offering discounts in exchange for their email address and contact information. You can then turn this list into your next email marketing campaign with new online store features, offers, upcoming sales, and discounts for ordering their next product online. Better yet, upgrade your point of sale technology to collect email addresses upon purchase, then you can send targeted messages based on what your customers purchased in store. All of this helps turn the on foot customer into a customer you can access any time of day!
Moving a store to an online platform may seem complicated or too tricky. The upside to working through a plan for preparing an online store can generate more sales and future growth. By implementing 5 strategies to moving a storefront into the online selling world, the task can be accomplished with less stress than going at it blindly. Calculate how much your business could generate in additional revenue through this new stream, and get the funds to make it happen! IOU Financial is able to offer your small business working capital, up to $150,000 in as little as 24 hours, so all you have to focus on is your products! Start working to expand to the internet and see what your store has “in store” for your customers.