Many people see selling online as a way to move their product without the overhead of a physical storefront. With online sales skyrocketing, there is obviously room in this growing market for more vendors. But it isn’t quite as easy as opening a webpage and waiting for sales to come rolling in. Here are 5 things you need to be successful in the online market.
1. Start Small
It’s good to dream big, but you shouldn’t start out that way. If this is your first venture into selling online, try putting a few listings up on an online market like Amazon or eBay. This saves you the hassle of having to build your own website and attract traffic to it. If you become successful, it’s easy enough to direct customers to your new site.
2. Low Shipping and Handling Costs
Free shipping draws customers likes flies to honey. Offering free shipping on orders of a certain size almost always nets a larger sale. When you are charging for shipping, keep your costs as low as possible. Some sellers try to slash their prices and then make up for it on high shipping costs, but buyers are catching on. They will appreciate the lower shipping cost, which is often the tipping point when choosing between two similar products.
3. Go Global
One of the nicest aspects of online marketing is how easy it is to reach an international audience. Be aware of all the shipping regulations involved in moving items across borders, however. It may be best if you start with a local market and expand as your business grows. If you do approve international sales, don’t be afraid to pass the higher shipping and tax on to your customer. It may cost you a few sales, but it will protect your profit margin.
4. Easy Payment
People are a little wary of entering their payment information online, and rightfully so. If you purchase a payment gateway, your customers will recognize a trustworthy source that they will feel safe using. This is also the easiest way for you to set up an online checkout. Just take the time to make sure that you aren’t going to be paying more than you wanted for the convenience.
5. Get Feedback
Customer reviews are the number one determining factor in whether someone makes an online purchase or not. This also lets you know what your customers are happy with and what needs work. Ask visitors to your site to complete a short survey. Offer a discount on their next purchase to add a little incentive. Not only does this get you the feedback you need, it also builds customer loyalty.