5 Ways to Sell Online That Yield Speedy Results
If you’re an existing shop owner or salesperson with a great product or service to offer, then in today’s digital age there’s every reason to embrace the online arena to boost your business.
By; Kayleigh Alexandra
Content Marketer & Startup Specialist
By; Kayleigh Alexandra
Content Marketer & Startup Specialist
The beauty of selling online is that you can reach a far wider audience and expand your market into new areas. It is not geographically limited in the way that a physical store is. If you already run a traditional bricks and mortar shop then you already have a distinct advantage in terms of knowing what sells and what doesn’t, plus you can promote your online store through the shop (and vice versa).
Whether you’re selling digital or physical products or services, here are the four primary ways to set yourself up for more sales online. Choose the one which best suits your brand, product offering, and desired customer base.
Sell through an online marketplace
If your primary objective is to sell products, without much interest in developing an associated business or brand; then an online marketplace could be a good option for you. Selling on marketplaces is also a great way for established brands to pick up some extra income and go multichannel retailer.
Online marketplaces are useful because they give you access to a wide existing customer database without you having to build a site and generate traffic yourself. The top three well-known online marketplaces are: Amazon, eBay and Etsy, each of which have slightly different niches.
The downside of selling products through an online marketplace is that there are always fees to contend with somewhere along the line – either as a flat rate or a percentage of the total sales that you make.
Build your own ecommerce store
Launching your own online store is a great way to make more sales and upgrade your online brand – all retailers should be thinking about whether digital is a good option for them.
Advertise on classifieds & social media groups
Classifieds are often neglected in favor of social media or search engine advertising – but there’s still a lot of money to be made from peer-to-peer online selling.
Product tie-ins
Riding the wave of a popular event or brand is a great way to increase your market share. You might not get good margins from being a tie-in product, but it’s a fantastic way to ‘seed’ an innovative new idea and get people talking about you.
You could also try riding on the back of a new movie or trend and offer some tie-in products. If you’re not sure how the products will do, invest in this strategy slowly. Start with a few ‘easy sell’ items and see how they do.
Diversification and specialization
For sellers online, there are two key sales strategies to keep in mind: diversifying your inventory be selling more products, or niche right down and specialize in one or two items.
Both strategies have their merits and drawbacks– you need to figure out which one makes sense for your business.
Was this article helpful? What experiences have you had selling online? Let us know in the comments.
Whether you’re selling digital or physical products or services, here are the four primary ways to set yourself up for more sales online. Choose the one which best suits your brand, product offering, and desired customer base.
Sell through an online marketplace
If your primary objective is to sell products, without much interest in developing an associated business or brand; then an online marketplace could be a good option for you. Selling on marketplaces is also a great way for established brands to pick up some extra income and go multichannel retailer.
Online marketplaces are useful because they give you access to a wide existing customer database without you having to build a site and generate traffic yourself. The top three well-known online marketplaces are: Amazon, eBay and Etsy, each of which have slightly different niches.
- Amazon is a leading retailer for products like books, DVDs and electronics. From a user perspective, customers feel like they are buying a product ‘from Amazon’ rather than an individual retailer. This helps to give you a certain level of authority as a seller – but selling on Amazon is hard work.
- eBay is a bit like an online flea market – almost anything goes. It’s an open platform on which you can list whatever you want to sell, but since it lacks a targeted niche it can be difficult to reach your desired audience. It’s a highly competitive outlet on which buyers can either bid on items or ‘buy it now’ – so you won’t necessarily get paid straight away.
- Etsy is a newer online marketplace aimed at buyers and sellers of vintage or handmade products. This is the best place for artists and craftspeople to sell their wares. In addition to physical items, you can also sell digital products such as custom designs. You have the option to personalize the look of your shop (to some extent), which is a great way to differentiate from the crowd.
The downside of selling products through an online marketplace is that there are always fees to contend with somewhere along the line – either as a flat rate or a percentage of the total sales that you make.
Build your own ecommerce store
Launching your own online store is a great way to make more sales and upgrade your online brand – all retailers should be thinking about whether digital is a good option for them.
- Nowadays there are many different ways to build an ecommerce website. There are a range of off-the-shelf hosted ecommerce solutions that leave you with a professional-looking e-store that you can brand and customize as you wish using a range of design templates. You can also get a custom ecommerce solution built for you by web developers– good if you have very specific requirements, or need technical support.
- Your new online store should sync up with your existing brand – whether it’s already retail-based or not. Use offline opportunities like trade shows, exhibitions and working with an event staffing agency to advertise your online store and make existing customers aware of the new way that they can shop with you. Going digital is about brand growth; it’s an exciting time to revisit your product inventory, supply chain, and branding.
Advertise on classifieds & social media groups
Classifieds are often neglected in favor of social media or search engine advertising – but there’s still a lot of money to be made from peer-to-peer online selling.
- Classified are usually free and rather than completing the purchase online, you will likely deal with the customer face-to-face. The sites themselves often encourage this, as they take no responsibility for ensuring that online transactions are legitimate. Ensure your safety using these sites by not giving out too many personal details.
- If you’re operating a business, some sites may have restrictions or fees. You might be able to place special classified ads, asking people to come to your store when they search for similar products.
- Popular classified ad sites include Craigslist, Gumtree and Oodle, among many others. Check which is best for your local area to find the one most suited to your needs. You can register all sorts of things on classified ad sites, from products and services to jobs, rentals, and even pets.
- Social media groups are growing into online communities where people go to trade and sell. Join all your relevant local groups and start listing some of your products on there. They are also a great place to go for market research – you can find out a lot by just listening to online conversations.
Product tie-ins
Riding the wave of a popular event or brand is a great way to increase your market share. You might not get good margins from being a tie-in product, but it’s a fantastic way to ‘seed’ an innovative new idea and get people talking about you.
You could also try riding on the back of a new movie or trend and offer some tie-in products. If you’re not sure how the products will do, invest in this strategy slowly. Start with a few ‘easy sell’ items and see how they do.
- Tie-in selling is all about great advertising and marketing – the whole point is the connection between your product and a wider theme.
- If you want to get ‘in’ with a brand or business, you are going to have to build a relationship with them. Speak to their marketing team, but don’t go in and hard-sell. Give it time.
Diversification and specialization
For sellers online, there are two key sales strategies to keep in mind: diversifying your inventory be selling more products, or niche right down and specialize in one or two items.
Both strategies have their merits and drawbacks– you need to figure out which one makes sense for your business.
- If you diversify, you run the risk of diluting your brand – so make sure that any new arena you launch into still makes sense for you. A great way to diversify is to expand on a certain theme, exploring different product types or options that are going to be popular – rather than going off somewhere completely new. Diversifying at the right time could make your business more futureproof, and you might hit upon on a new trendy product.
- Becoming a specialist is a great way to be a true product expert and charge a premium price for your wares. Have lots of furniture stock you need to shift, but thinking you need to start fresh with a new, more premium venture? The online world is perfect for this type of experimentation. You could set up a separate store that only sells handmade dining and coffee tables to keep your new brand separate from your other offering.
- Both methods require intense market research to ensure that you’ve hit upon a viable market. New business ideas should be cautiously tested before they are carrie
Was this article helpful? What experiences have you had selling online? Let us know in the comments.
about the author
Kayleigh Alexandra
Content Marketer & Startup Specialist Passionate about writing for the startup and entrepreneurial audience, I have recently been part of setting up an exciting project at MicroStartups.org. We donate all our website profits to charities that help people reach their full potential. Find out more on Twitter. |