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How To Do Ecommerce Business Tutorial For Beginners & Newbies 2016 to 2017



hi there do you notice all 1.17 hitrillion loss or e-commerce salesworldwide what if I can show you how Ican tap on this big industry by doinge-commerce follow me and I'll show youhowhi there my name is Alvin and welcome tothe Gators and cents channel where itall all things about online marketingand get three tips every week right onthis channel and in today's episodewe're going to show you basically whatis ecommerce and how can use e-commerceto run an online business to increaseyour revenue online for your sales andproducts online it is something thatwill interest you you want to watch itthe end of this video I'll show youimportant foundations that you need toknow before you start any e-commerce oronline store online today so in caseyou're nowhere there are over thirtyseven thousand dollars of sales almostevery single second in the year to zeroone six as I'm talking to you and that'sa lot of sales running every day aroundthe world I used to do retail businessin the past and doing retail is not easytoday because as many obstacles thathinder people from setting up retailbusiness and by the way one is actuallyecommerce in common basically isanything they actually a transactiononline so as long as their sales hasbeen trending online they collect cashand a biscuit do a transaction that iscalled ecommerce- in many ways to do ecommerce onlineI'm going to show you step by step andthe founders that you need to knowbefore you start any e-commerce businesstoday hey if you like what you'rewatching so far in this video pleasetake a second to click the like buttonbelow and subscribe to receive moregreat tips because we publish new videosevery week and if you really love thisvideo please share your friends and theywill benefit as well and I'll need yourhelp to grow this channel thank you andGod blessso before I go into details like why andwhat's a good about e-commerce I don'tshare you want the benefits of thee-commerce first number one right youget flexible working hours making itwork anytime anyone anywhere around theworld as long as there is an internetconnection and that's one thing I loveabout online e-commerce business you canstart part-timefull-time as well and a lot people arenot aware you can spend as little as oneto two hours a day just to maintain thebusiness online of course if you want toget more results with more sales youwant spend more time not creatingcontent or cleaning products when Ispend more time marketing in youre-commerce business so you go firstworking hours is very low cost tomaintain you're going to pay high rentalto rent shops all right to do youronline stores although that is preferredto have basically not necessary when youstart online business one good exampleis Groupon or a Groupon started off withno shop front is pure online storeAmazon but they have no short-run eventoday right they do have one now but inthe beginning there was any shop frontso many multi-million dollar businessesaround the world start off by ecommerceonline distance and there's no rental topay right and today right we actuallyhave many ways to actually sell onlineall right and one major reason why Iupgraded design online I used to doretail business was I stay in Singaporeand this is only like four to five maybeI can sell to in the in Singapore butwhen you do it online you sunny haveaccess to billions of people around theworld which basically gives you theability to sell to the bigger audiencearound the world and shipping all overthe world as wellthey actually various online models youcan pick from they do e-commercebusiness all right basically there is awholesale model right basically you buyimport stuff through your warehouse inyour house and then you ship the productif you don't apply products this is metthe current drop shipping drop shippingmeans you only buy the product alrightwhen there is a transaction of sales solet's say for example if I am sellingthis spectacle for example right andthis spectaclehappen to be cost and $10 all right soon my website I may be sorry at $15 sothe customer buy these glasses and $15then I will pay $10 to my supplier andSheeta product to my customer directlyfrom supplier normally when you do dropshipping your profit money is roughlyaround handto 30% for wholesale it depends if youbuy in bulknormally you earn up to 10% all the wayto 60%okay and if we do even bigger bulk or aSonic game and up to 60 to 100 percentof the product and you are G selling forit alright so this whole sale and -dropshipping alright another way thatsome people do in wholesale is theapparently the private label means theycreate own product brand create ownproducts and sell normally probably elseeven more money yes a you spend $1 forthe cost no you can sell at $2 or $3 alot of people are not aware and sheautocross around are up have labelsmusic their own brand this particularmay actually only cost 2 bucks but whythis so for $13 because they buy him outand that's why it is so cheap ok andanother common thing a lot of peoplelike to ask mealright is how much can i commerceonline business really make online intoday's world alright i happy to tellyou that majority of people who sellonline business make a range right arange from $50 us all the way into20,000 why is it such a big care I cantell you the reason why if you spendmore time your business you can makemore money as simple as thatmany people always think that sellingonline it is great it is great but youmust spend and put the time andcommitment to make it work once you makeit work then you will make a lot ofmoneyalright so I have seen my students andmyself happy for five figures a month byselling online and you can do if youfollow this simple foundation in thisvideo one thing you must remember whenyou say ecommerce business there is noshortcut or everything takes time togrow okay so some people take time theyget very fast result because they takehigher risk okay so on average aecommerce store normally operates 24hours online as one day I love aboutrunning online business alright what isthe cost involved instead I have aecommerce business by basically there'sno storefront so there's no rental topay so the only cost you have to pay isbetween your shop expenses okaythe online shop which madeit can be webhost or either self hostokay so basically some pepper that Irecommend will be Shopify you can checkout a link below description on watchover is and get special discount forchocolate my below I can still sell onAmazon whiskey is put in products thereand set it online and so those are thetwo easiest platform I will recommendyou to try out if you just get startedthinking what kind of store you want toset up online another very popularchoice will be using WordPress togetherWooCommerce right that needs sometechnical background okay it's not thateasy to set upcompared to Shopify but it's cheaper insome sense but it's not so robust andscalable that should be fine if you'reinterested if you are really serious youshare your Shopify store if you're on abudget you can go for WordPress withWooCommerce plug-in is free put a plugin but the WordPress cost will becheaper but there's some costly as wellall the links and all the things thatyou need to know are below indescription belowokay so let's let's see the content youneed other title sconces that may beneeded or an email in your business it'sdepending on what model you're going forif you're going for a dropship modelthere's no cause to bind rockets youdon't buy products until there's a stealby we doing a wholesale or you need tobuy some products to sell on your storeto sell ladies pants but I recommenddon't spend more than five hundos fourinches down the money on buying infantryto sell on your own store right so thatyou know whether this business or thisproduct is workable for your businessbefore you set up any kind of disregardswhat kind of stall as I sign somethingonline there's always these three phasesyou want to take note the first onewhich is research and setup it's veryvery important to find what is sellablehow many competitions they are and howmaybe you will want to find a particularindex so that's called research which isvery very important to do before youeven start setting up your website afteryour weather is certain the second thingyou must focus on is marketing andgetting traffic that is very veryimportant in fact 90% as they get 90percent of the time in your businessonline should be spent on marketing andgetting traffic because these two arethe one that give you more business orand the third thing that a lot will feelto do if at ninety percent of you failto do is analyze and skill-wise analyzeand skill you can see if I'm doing aseven-day campaign okay after seven daysyou must sit down and consistently don'tdo any more seven days and file oneactually when well and what actually notwhen well during the seven days campaigndo you get any sales the anybody visitwebsite where they come fromwhat's the age group every you mustanalyze them and you must learn to knowhow to see what results you get so theycan know what is wrong with yourbusiness or whether is it the product isit sellable or not as I say in a case isa very positive campaign you also wantto scale the campaign or how to scalebase speeds to improve and targeting onpeople who want to buy a pony LSA is inthe best engine you got no sales youwant the file instead and possibleanyone even clicking on the website orthe product it is totally zeromaybe it's the product maybe thetargeting you have to find one andthat's what we call analyze alright andskill fish are the three important stepsyou need to master when you doe-commerce online business so I can'tshare everything in this video but ifyou're in a hurry to learn the completesystem or homesteaded three phasesbut Kompany ecommerce our cost thencheck out the link below here for moreinformation and get a special discountedbecause you are watching this video ifthe issue interest you do have a look atthe link below and trust me you willenjoy it because is one the best sellingcost online total other people aroundthe world up to 130 countries when manymany people around the world are gettinggreat results from attending thisspecial program I created all right coolnow that you have learned the importantfoundation they need to learn or I cansay ecommerce business in this series ofview in the next video you can learn avery important component of setting upyour ecommerce store I'm going to showyou how to find hot time in demandkeywords and products in your nichesirregardless if you are saying aboutselling on Amazon or shopping file anyhell online store you will find the nextvideo very very useful because you willtell you basically how to know whysellable how many in competition or Ican be see how to target them and sellyou know exactly for sure 100% like whatis in in mind alright so you don't wantto miss on that video in the nextepisodeso remember dice your success is in yourhands alright so keep learning keeptrying and keep improving see you guysin the next episode bye hey thanks forwatching this video if you have foundthis video useful please give it athumbs up or like this video and if youreally like this video please share ortell your friends who might benefit fromthis video as I will need your help tokeep this channel growing if you have aquestion you love answered post them inthe comment section belowand our she answer them your questioncould be in my neckvideo by the way if you enjoyed thisvideo click here to subscribe to ourChannel and click here for the recommendlink for this video you may also wantcheck out the links at the side here formore great tips to help you in yourbusiness as well thank you and God bless

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How to Increase Orders and Order Values on Your eCommerce Shop

By Emmett Brosnan | Submitted On March 12, 2018

Expert Author Emmett Brosnan

While conversion rate optimisation (CRO) often focuses on pushing more shoppers over the line to complete check out, there are also a number of techniques and tactics you can implement to increase cart values too. If you’re looking to increase the volume of orders your eCommerce site transacts, along with the order value of those purchases, read on for a series of tried-and-tested tactics to implement now.

Tracking and monitoring

If you aren’t yet tracking customer visits and monitoring their behaviour on site, you’re likely missing out on a whole host of conversion optimisation opportunities. You can use a free tool such as Google Analytics to gather a wealth of information about your shoppers, from the device they use and how they find you to their path through the site. Use this insight to optimise your buyer journey and plug holes in your funnel.

A/B Testing

Split testing or A/B testing is an incredibly useful tool to boost conversions. This allows different elements of the page to be tweaked (such as the headline, call to action or image) and the results used to inform changes. Two versions are tested side-by-sided – you implement the more successful version and then use that to test and refine further.

Set up product feeds for Google Shopping and Amazon

As an eCommerce retailer, there is a wealth of marketplace sites to consider. If you are already an AdWords advertiser, setting up a Google Shopping feed can unlock a wealth of potential new customers. Likewise, as the world’s largest online market place, Amazon is a hugely popular product discovery channel – in fact, research carried out by Kenshoo in 2017 found that in some instances, Amazon actually edged out Google at some points of the online shopping journey, with more than half of shoppers going to Amazon ahead of the search engine.

Reviews

Research by BrightLocal shows that 85% of consumers trust reviews as much as a personal recommendation. That means investing time and resource in building and maintaining a strong review profile can significantly improve consumer perception of your brand.

Simple Shipping

Being upfront about shipping costs is an easy way to bolster your conversions. There is little online shoppers hate more than filling their virtual carts only to find that there are huge hidden costs in the form of shipping expenses which don’t become clear until the final screen. Be upfront about shipping costs at each stage of the journey to lower your cart abandonment and take a leaf out of retailers such as Amazon and ASOS’ book and offer simple, straightforward shipping options at a range of price points.

Cross Sell and Up Sell

Implementing a ‘suggested products’ feature can help to increase basket value by giving consumers other related products to consider. Amazon again is great at this – when you view a product, it will offer bundles of similar products to purchase together, which is a great way to tempt shoppers to expand their purchase.

Loyalty Programs

Never underestimate the value of loyalty rewards such as free shipping or early sale access. Providing shoppers with perks for their custom, or giving them incentives to return, is a low-cost way to drive up orders and order values.

Contact Paramount for more information: https://ecommerce.parawebtech.com/contact/

Article Source: https://EzineArticles.com/expert/Emmett_Brosnan/2525276

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Top Ecommerce Design Trends 2019



Ecommerce Web Design Trends 2019
Today, an increasing number of users feelthat a website’s design determines whether
to trust your business or not.We have compiled our own digest of trends
in ecommerce web design to offer you an ideaof what tendencies will be the most popular
and promising in 2019.Before we continue, If you’re new to our
channel consider subscribing and clickingthat notification bell so you don’t miss
the newest videos.And if you a true WordPress fan, check out
our Top notch WordPress themes and our blog,to always stay on top of all the news.Responsive Design
With the increasing availability of the wirelessInternet, responsive design becomes the main
condition for the survival of any web project.Mobile traffic is a tasty morsel for E-commerce
sites.As Internet users prefer using a mobile phone
more frequently, interest in responsive designcontinues to grow.Video Content
When you try to deliver any complex informationin a visual format, a static image does not
work in most cases.After all, a static UI image only tells you
what's in it, not how to use it.Background videos make the design of the site
unusual and modern, which increases the involvementof the visitor and leads the project to greater
efficiency.Grid Layouts
This layout, which is based on a grid, isa layout with horizontal and vertical guides
that help organize the content and maintaina uniform structure throughout the project.It’s used in product catalogues, image galleries,
portfolios, etc.Hamburger Menus
Currently, you can see several instances whenhamburger menus are located on the left of
the page.They are extremely popular, as it is a convenient
way to hide and uncover a menu when necessary.Voice Search
The number of people using “talking” servicesis increasing every day.Very soon, most Internet requests will be
made with the help of voice services.In other words, the goal is to help visitors
get a great shopping experience, no matterwhat device they are using.Call to Action Buttons
CTA buttons are designed to guide users toyour goal.The whole point of their use is to make the
visitor do the desired action for you.Provoke your visitors with CTA buttons like
‘Click here’, ‘Buy now’, ‘Registerfor preorder’, etc.Long Scrolling
Many users adore having content that updatesand continues to load when the user reaches
the bottom of the page.It provides infinite content loading while
increasing engagement.Facebook or Twitter feeds are great examples
of this type of scrolling.Pop-ups
While you are trying to convey important informationto the user, pop-ups can cause users’ irritation
and negative attitude.However, with the right approach, they attract
attention and increase conversion.The content of the pop-up window should contain
a call to action, and the button should bebright and eye-catching.Choose a simple, unique and valuable design.WhiteSpace
Efficient use of free space leads to a cleanerand more professional design.By allowing the elements of your site to “breathe”,
you make it easier for the visitors to perceiveyour content.Hover Effects
Hovers are all sorts of effects like pop-uphints, rotation, zoom, deposition, etc. that
are observed when you hover over them witha mouse cursor.A hover effect of a button gives a basic idea
of what will happen with a click.Conclusion
If you have your own website—for personalpurposes or business ones—you should definitely
follow the trends of web design.Discover the tendencies, techniques, and tools
of web design that will take a leading positionin 2019.It is up to you whether to follow these trends
or not, but every professional in the industryshould know about them.Make sure you design with care, paying attention
to every detail.It is the key to make your brand recognizable,
create your own business, and expand yourcustomer base!

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7 Social Media Tips For Your ECommerce Website

By Jon Allo | Submitted On October 17, 2019

Expert Author Jon Allo

Selling online has never been easier, and using social media marketing correctly can make it even simpler and more effective.

1. Create Valuable Content to Share

So that you have something to share on social media, create content that adds value to your audience. For example, create infographics, case studies, blog posts, and more, all designed to showcase your products to your audience.

2. Start Strategic Groups for People Who May Want Your Products

On Facebook, you can start a niche group for subgroups that might want to buy your products. For example, if you sell makeup, you can start a group for people who love makeup. On the group, you can do live events showcasing the makeup, showing how to wear it and even having a shopping network such as sales.

3. Work With Influencers on Various Platforms

A really great way to use social media is to contract with influencers on platforms that your audience loves. An influencer is someone who has a following that includes your target audience. They may unbox your item, use it in their videos often, or do a review.

4. Brand Your Social Media Platforms Properly

It’s very important that you find your brand voice. Some companies that have done a really good job of developing a brand voice for their products include Penzey’s Spices, Dove, and Dominoes. You can check them out for yourself to get ideas.

5. Engage Your Audience Often

Social media is supposed to be first and foremost a social interaction. That’s why it’s called “social media”. So many businesses make the mistake of making it a one-way thing. But, you should seek a conversation with your audience so that they feel as if they know you and you feel as if you know them.

6. Follow Your Customers Too

Don’t make it all one way. Be sure to like, follow, and reciprocate with your audience depending upon the platform. If you make it only one way, it’s not very friendly and isn’t a good way to use social media platforms. On Facebook, make sure you create a business page and possibly a public persona account so that you can freely follow your customers as your public personal profile has limits.

7. Integrate Social Sharing on Your Website

Let others do some of the work for you. Make it easy for them to share products by adding social sharing to multiple platforms on your site. Ask them to share and give them incentives to share, and they will.

It’s important to select the right social media platforms where you know that your audience exists and wants to see your information. That way they’re interested, will engage with you, and will respond to the things that you post.

Facebook wants you to succeed using their social media platform. This just makes sense. If you achieve your business goals while spending money on Facebook advertising, you’re likely to use that marketing practice again in the future. To learn how to make your Facebook marketing successful and profitable, download my Free Checklist, Successful Facebook Ads at https://jonallo.com/FBads

Article Source: https://EzineArticles.com/expert/Jon_Allo/1079948

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eCommerce Marketing Strategies – 12 Killer Tips | Marketing 360



in this video we're gonna unpack 12killer ecommerce marketing strategy tipsthis is one that you can't miss if youhave an e-commerce store check it outhi I'm JB with marketing 360 and we helpsmall businesses grow with our marketingand design talent technology through ournumber one marketing platform marketing360 we call marketing and design math welove math and hopefully these videoswill help you fall in love with Matt tooso make sure to follow us to learn tipstricks and strategies to grow yourbusiness and fuel your brand ecommercemarketing can be super complicatedthere's just so many different thingsthat you can do and so in this video I'mgoing to break down 12 tips that werecommend you really focus on first ifyou dial these in you're gonna besuccessful online so let's jump right intip number one is use a good shoppingcart there's three shopping carts thatwe work with with clients all the timethat we really love and so check theseout if you're not already on these carsShopify WooCommerce and BigCommercethese free carts are really good from aperspective of SEO design and also paidsearch so running paid ads even onsocial it has everything you need toscale your business it also has thesupport team to back you up when youneed the help so check out one of thosecards if you don't already have tipnumber two spend a tremendous amount oftime optimizing your product pages withregards to SEO and design so what I meanby that is SEO would be a good producttitleokay don't just call it something thatonly you would know call it somethingwithin the title that people areactually searching online so do somekeyword research figure out what peopleare searching for your products and makethat part of your product title alsoinclude that in the description of theproduct write a good descriptionremember this is your 24/7 sales personyour product page never calls in sick itworks through the weekends and theholidaysevery time somebody visits your productpage you want they oneperfect sales pitch so put some timeinto that also product photographyhugely important make sure thatphotography is really really cleansmooth and a nice design andprofessional and also if you can do aproduct video this is massively valuablemake sure you invest in doing someproduct videos to explain your productsand more details final tips here makesure you have trust badges on the pagemake sure it says things like you havefast shipping free shipping all that ifyou have that and also get reviews ofyour products you want to have reviewson your product pages studies show ifyou have reviews on your product pagesthat can increase your conversion ratesignificantly up to 400% of by havingproduct reviews so make sure that youget product reviews on your page tipnumber three is a little more advancedwith regards to SEO but it's making sureyou have schema markup on your productpages what this means is when somebodysearches on google right there in theGoogle search page before they even goto your website they're gonna see whatGoogle calls product rich cards which isgoing to show your product image andsome information right there on thesearch page this is gonna give you anadvantage over your competitors make youa little more visible organically topeople as they're searching on thingslike Google so here's a quick tip if yougo if you just google search schemamarkup testing tool it'll take you to atesting tool you can just put yourproduct page URL in there and it'll tellyou if you have the proper schema markupor not if not there's some warnings andsome tips there on how to make sure youadd that but if you use one of thosecards bigcommerce Shopify or WooCommercethey typically have good schema markupout the gate and so you can just kind ofbuild upon that tip number four is tooptimize your product feed via GoogleMerchant Center Google Merchant Centeris what you're going to use to runGoogle Shopping ads which we'll get tolater but the product feed is hugelyimportant you're going to want to makesure you have good information in therewith regards to your product title thedescription the keywords those sorts ofthings so that you're showing up whenpeople are searching on Google Shoppingwhenyour ads you don't want to be not in thegame when somebody's looking for yourproduct because your product feed is notvery well optimized tip number five isrunning Google Shopping ads GoogleShopping is very very popular people goto Google they'll search something likepink shoes they'll click the shoppingtab those are all ads so if you want tobe in that shopping tab which we highlyrecommend you're going to want to makesure that you are running GoogleShopping ads so invest in runningproduct ads and then here's a tipoptimize your product ads based onresults so if you have ecommercetracking setup you can see the revenuegenerated from each product you canreally see your ROI per product on yourproduct ads what you want to do is astime goes byturn off the ads that aren't doing aswell the products that aren't doing aswell and increase the budget on theproducts that are doing well this isgoing to really increase your return oninvestment over time tip number six isrun dynamic retargeting campaigns off ofyour Google Shopping ads and yourwebsite visitors so that people that goto your website and they browse maybetwo three products as they're surfingthe internet after that on the GoogleDisplay Network which is thousands ofwebsites online they're gonna see bannerads for your brand actually showing thespecific products that they looked at soit's very very relevant this stays topof mind and it kind of just wears themdown until they are ready to buy thoseproducts they click it and they purchaseon your website also you can runretargeting on Facebook and Instagram aswell so if somebody comes to your sitethey look around and they don't doanything that night when they're onFacebook kind of looking through theirfeed all the sudden they'll see an adfor your brand this is bringing you backto the top of their mind they're likehey I didn't have time earlier to put mycredit card in there because I wasgetting interrupted but hey I do rightnow on this commercial that's on TV soI'm gonna buy right now so by doingretargeting in a dynamic way you'regonna bring a lot more sales back toyour business tip number seven is tomake sure that you're running Facebookand Instagram ads these are hugechannels today people are on Facebookall the time so you're going to want totarget people on Facebook and thetargeting is so intense that you can getright in front of the person that wouldbefor your product so one example likethat is let's say that you sellgymnastics equipment to kidsparticularly to girls in particular youcould actually target mothers that makeover fifty thousand dollars a year thathave daughters that are in gymnasticshow targeted is that if these motherssee these ads they can afford it rightthey're making enough money to afford itthey have daughters in gymnastics itjust only makes sense they're gonna likeyour product they're gonna understandyour brand and they're gonna eventuallybuy from you so make sure you takeadvantage of Facebook and Instagram adsthose two channels are big breadwinnersfor e-commerce stores today tip numbereight invest in your social mediaorganically whether you need to do thisyourself or hire somebody or hireanother company you need to make sureyou have an organic presence on socialmedia what that means is you're postingcontent you're engaging on social mediaso not paid ads but just being involvedbeing a part of social media today bydoing this this is gonna be buildingyour brand following organically soeventually you have 10,000 followers ahundred thousand followers the morefollowers you have as you're postingcontent building this awareness you'reonly going to get more sales tip numbernine is to automate your email marketingemail marketing is hugely important alot of e-commerce stores fall shortbecause they spend a lot of money to getthat customer to make that firstpurchase but they don't remarket tothose people via email marketing andother channels to get them to come backand make future purchases if you couldjust get each of your customers to makeone more purchase than they normally dothink about what that does to yourrevenue so with email marketing itallows this an automated way to makethat happenso here's an example you could set up anautomated campaign for holidays you justset this up at the beginning of the yearfor the whole year with promotions onall these different holidays thatautomatically get sent to all of yourpast customers so that's one examplethere's tons of other examples likesending them automated emails to capturereviews for your products is another wayto build product review contentway if you're creative with your emailmarketing and you automate it this isgonna scale your business so that youcan increase your sales overall andincrease your return on investment onyour marketing dollars tip number ten isinvest in SMS marketing SMS marketing istext message marketing reason why that'simportant is because only about 20% ofpeople will typically open up your emailsometimes even less and they also won'topen it up in real time there's lagthere rightbut with text messages it's almost ahundred percent of people open the textmessage and most of them are within afive minute window so that can be reallypowerful on slow sales days on the endof the month times when you need toclear out old inventory stuff like thatso build a VIP text message marketingcampaign and one way to do this is put abanner on your site that says hey for ViVIP deals text something like hot dealsto 399 702 opt in and get an immediate20% coupon right now by doing that itgets people to opt-in to get that couponbut now they're in that list for futureVIP deals that you can tap into when youneed to tip number 11 is to use a CRM somany e-commerce stores don't really havea CRM they're actually using the backendof their car to look at customer dataand kind of using that as a CRM that'snot effective you want to integrate yourcart with an actual CRM so that you canpopulate all of your customer data andeven add additional data in there as youget to know your customer and so if youhire a sales person or if you're thesales person working through the CRM andactually making proactive calls to yourcustomers can be life-changing for yourbusiness if you just reach out say heyhow was it did you get your package intime is everything going okay for youwhat else are you interested in can Ikeep an eye out for other deals thatcome up and let you know do you have anykids where are their birthdays what arethey interested in if you get to knowthe customer you can save thisinformation in your CRM your salespersoncan just continually follow up thesepeople and I'm telling you you'll seefour or five times more sales percustomer than you would otherwise soit's a huge investmentbut a great return to look at asalesperson in a CRM and connectingthose into your process within youre-commerce business last tip tip 12 isto create a customer care package thatyou send with all of your productpurchases to the customer so don't justsend them a bag with a logo on itsend them a nice package that has ahandwritten note it has a coupon in itfor a future purchase that maybe has areferral card in there they can give toa friend this is gonna be a niceexperience for the customer and it'sreally going to give them a good senseof feeling towards your brand andprobably get them to come back andpurchase it with you again but onereally hot tip here is if you're sellingon other channels such as Amazon orsomething like that when you send thoseproducts with the care package thecoupon and whatnot should recommend theycome back to your branded website tomake future purchases this is gonnaincrease your profitability right andget your brand going on your own websitewhich is what you want to do so takeadvantage of these care packages designsomething real nice and when theyreceive your product you stand out inthe crowd from other businesses you maycould be competing against so e-commerceis super intense we could go for dayswith different tips but these 12 tips Ifeel like are really the ones that arethe most important so focus on thesetips if you have questions give us acall or leave a comment if you liked thevideo like it if you want to share thevideo please do and also follow us formore tips tricks and strategies justlike this moving forward

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How To Price Your Products As Ecommerce Businesses

By Alex Chaidaroglou | Submitted On April 02, 2018

Expert Author Alex Chaidaroglou

Pricing your products as an ecommerce store owner can be one of the most difficult jobs you will ever do in that business. Although pricing is not always a deal breaker for consumers, as often they are not simply looking to buy the cheapest product, it’s always an important part of the equation.

In essence, you have to figure out the right balance of profit-making per unit and the optimum number of purchases. There are plenty of strategies to price your products and help you do the above, but the best way is to usually mix at least 2 strategies.

Pricing can really make or break your ecommerce business, so it’s important to spend enough time here to get it right. Also, don’t forget that depending on your overall strategy you can add other tactics into the mix to increase the profit from each customer and their lifetime value.

Before we dive into the strategies, let’s get our facts straight first. You need to know the following before you develop a pricing strategy or formula:

1) The margins of your products.

This is relatively easy to do. You calculate the cost of each unit of a specific SKU (transit to your warehouse and any other fees included). Then you try different prices and you simply follow this formula:

(Price – Cost) / Price

This simple formula will give you your margins for each product. Under no circumstances should you put a price on that product that results in a negative number.

2) Cost of advertising.

Are you going to advertise your products? Chances are that you will and most probably online.

You should add to your costs the cost of advertising to promote that specific product or simply divide it between all your SKUs.

For example, if you spend $3K each month on Google AdWords to promote your products and your ecommerce store, you should divide that between all your products equally.

With those 2 basics out of the way, let’s move on to some simple pricing strategies for ecommerce businesses old and new. Remember that you can use any of them or ideally a combination of them. What works best for you will depend on your location and market, don’t blindly copy others.

Pricing Strategy 1: Cost-based Pricing

This is one of the most popular and simplistic pricing strategies both for ecommerce stores and brick and mortar retail stores.

The way it works is by simply taking the cost of a unit as identified in step 1 (transportation and other variable costs included) and then either simply add the desired margin on top of that or a simple fixed amount of money that you deem optimal. The total amount will be the final price of the product.

The 2 challenges with this approach are that you have to figure out the exact cost of each unit without forgetting any costs out and that you have to know that cost in order to always stay above it during promos etc.

If an ecommerce business has really nailed down its operations aspect of the business they can easily utilize this method with minimal effort.

How much overhead you will add is up to you, but usually, the employees’ salaries are left out of the equation.

The second tricky part is how much profit to add. A part of it can be done from experience and another part (or the whole part) from tracking competitors’ prices that sell the same or similar products.

Pricing too high or too low can cripple your sales. Doing a check of your competitors by hand first and then regularly with a software can help you stay on top of them.

Pricing Strategy 2: Market-oriented Pricing

Expanding from the last section of the previous strategy, this strategy is also called competition-based strategy and it factors in what your competitors are doing and in what condition the market is in.

This is a good strategy for commoditized products and if you can compete on price. Usually, this is paired with another pricing strategy like #1, cost-based pricing. In essence, it helps you identify when to lower your prices in order to get more sales, but without compromising your profitability from #1.

Not only that but when your products are too low, you can also increase that price, remain the cheapest vendor and squeeze that extra profit.

Pricing Strategy 3: Consumer-oriented Pricing

This is also called value-based pricing and it’s usually for non-commoditized products. In these cases, the value is usually sold and the price has just to be reasonable.

For example, a novelty product that might not have direct competitors can follow that pricing strategy, while highlighting its benefits over older or other competing products.

Conclusion

Focusing solely on revenue and number of sales might prove disastrous if you don’t have a solid and profitable pricing strategy. By utilizing pricing tools you can always stay competitive and paired with the right pricing strategy you can keep your sales and profits up and to the right!

Alex Chaidaroglou is the Director and co-founder of Altosight, the most accurate price tracking software for brands, manufacturers and ecommerce businesses. Manufacturers can track their MAP price violations and their competitors products. Ecommerce businesses can track the prices of their competitors and major price comparison websites.

Article Source: https://EzineArticles.com/expert/Alex_Chaidaroglou/2533166

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