Running an online retail store is harder then it looks

At first when you look at it it seems easy enough. But when you get right down to it there is a lot of work involved. When you get started you have to decide between building a site, renting a site or shopping cart by the month. Both require some time and work to find out what is best for you in the short term and long term. Once you have you decided and things are set up the real work starts.

Unless you have a limited product line there is going to be a lot of work put into getting product into your shopping cart. It is not just a matter of slapping a picture on and the products name and price. No each product is really a mini add and should be treated as such. What information you have in the description and title are what is going to be used by search engines to find your product. Then the description that shows up under your link is what people are going to use to decide to look at your product. The competition starts way before people see your product. You are competing with millions for each view. Please note that was view not buy. Just because you get someone to view your product does not mean they are going to buy from you.

The idea is to market your product online with a description and key words that will attract the people interested in your product. There is no point in using key words or descriptions that will bring lots of people to your site, but only a few of them are people interested in your product. You want to focus on your target market and attract them to your website or online store hoping that once they are there they will buy something. These means you have to think about what you put into the description and title of your products. What key words will your target market be using to find the product? Are they in your description or title? Once it come up in a search will your description stand out from all the others? Will it attract your target market to your site?

So now you put some time into reaching your target market and they click onto your product, what will get them to buy? There are a million and one other web site’s selling the same or similar items, why should they buy from you? What are they going to see first your product or home page? If they are searching for a product your link should open to the product. So how you have your shopping cart set up is going to give people their first impression of your company. How it looks is going to influence people to buy or not buy. Other things that will influence people to buy or not buy are your prices for the product, product image or picture, shipping costs, shipping options, return policies, where you are located, overall appearance of site; feed back from other customers, your home page, about us page and any other information you provide. How much information you provide or don’t provide will help people decide if they want to do business with you and not the other million sites.

At all points of contact with potential customers you need to be marketing your company, store and product. This is from the fist search people use to find you, to how easy it is to use the check out to buy and pay for your product and how the product was shipped. Even how the product was packaged can influence a repeat buy or not. Once you have a customer you need to do everything you can to keep them. Word of mouth is still the best marketing tool out there. Once you have a customer keep them happy and hope they tell everyone about you. But first you have to get that customer, and that is not always easy to do no matter how great your product, prices and company are. It is not just a matter of putting your product out and having it available to buy. You have to put a lot of time and some times money into marketing your product, store and company even after you start making sales. The marketing never ends because there are new online stores showing up and you have to compete with them and any local stores that can and will sell to your customers. In other words the work never ends if you want to keep brining in customers and making sales.

So if you are thinking about opening up an online store because it is easy money, think again. You only get out of it what you put into it. If you plan to put product out and sit back and wait for the sales to come in, save your money and find something else to do. There is no easy money to be found on the Internet anymore, it is a highly competitive market that is becoming more competitive everyday.

Your trade show booth is as important if not more so then your product

If you are a whole seller you already understand how important your trade show displays are. They are what sell your company to the buyers. Having an excellent presentation of your product increase orders, just the same way as having a good commercial will sell a product. Your booth is your ad or commercial and you must use it to sell your product. Retailers are looking for something that will sell in their stores, but you have to get them into your booth before they will buy.

Wholesale and trade shows are nothing but extreme competition these days. It truly is a world market now. At some of the larger shows you can have companies from all over the world all with Trade Show Display Booths designed to capture buyers attention. It is no longer enough that you have great product, prices and reputation you need to have a Trade Show Display Booth that will bring in new customers as well as old customers. Your booth has to sell not only your product line but must also brand your company image.

A booth is no longer a table and walls with product and info packs and cardboard displays, now they are mini stores and show rooms. They have to be very professional looking and give a company image that buyers will be using to judge your company even before they look at your product. It can be more important to invest into your booth then invest in any other type of marketing as this is going to be what the people who buy will see when they are looking to buy. It will have more impact at the time then a flyer or catalogue later on. It is as simple as this, you are not going to make sales to the end customer and create a demand for your product if you cannot get your product into stores and your not going to make the sales to the retailers if you don’t have the right display booth.

Gas prices are changing how we do business

The price of gas is changing how people buy. The higher the price of gas, the more expensive everything else is. This is reducing people’s disposable income dramatically. People are less likely to give into impulse buys; they want to feel they are getting great value for their money. They are less likely to buy something just because it is there and it catches their attention.

People are buying less luxury items, such as jewelry and purchasing necessities instead. Buying over the Internet is also down as the cost of shipping is up. Why buy something that has to be shipped when you can find a similar product at a local shopping mall and don’t have to pay for shipping. Just because an item seems to be a deal online does not mean it is once you include shipping and handling charges.

So how we market product has to change. You have to concentrate on the perceived value of the item, or that it is cheaper to buy from you then the local store even with shipping charges. Some places are even covering the cost of shipping. With fewer dollars available the competition for those dollars is becoming even more intense. I am quite sure that some small businesses and some big ones are not going to be able to survive for very long unless things change.

So the real question is how do we stay in business with a reduction in sales? For us it will be by cutting costs wherever we can. We are offering several different shipping options so people can get the one that fits their budget. We are reducing the amount of packaging that goes with products to reduce shipping cost. We are not purchasing any manufactured products for our inventory. Other then what we already had to put onto the website we are only adding our own handcrafted pieces to the website inventory. That is about all we can do. We don’t have staff to let go, other then ourselves. But until we make more sales we are not paying ourselves. It is going to be hard and our ability to stay in business will depend on how long this goes on for. We will be fine for at least a year. Hopefully things will be better by then.