Ready to start an ecommerce store?
Well, before you get started with a website or marketing—and certainly start dropping money for inventory—you need to have an idea for a product.
First, you need to make sure it’s profitable. You can’t run a business without profits. You probably already knew that, but it’s a common mistake most beginners often make.
They rush headfirst into a neat idea and forget to test its profitability.
Don’t think about writing a business plan for your ecommerce store without understanding profits.
Second, you need to find a great niche. Major ecommerce sites like Amazon and Walmart.com have plenty of products for sale. So what makes yours stand apart?
You need to find a specific kind of product first.
Here’s how you can do it.
Building a successful online store isn’t easy.
Sure, you’ve heard incredible case studies–the product with $3 million in annual revenue just from YouTube.
The brand that made $80,000 in sales without spending a dime on advertising.
But behind all the glamour of these stories, each entrepreneur started off in the same place you are: without a store, without a success story, and with little or no experience.
But what set them apart from the thousands of business that fail each year wasn’t luck.
Not even close.
Yes, they made the right decisions again and again.
And yes, they did their homework and learned about their niche and industry.
But before all of that, they started their eCommerce store correctly.
They didn’t jump in before learning the basics of getting a store like their up and running without any hiccups.
And in this guide, you’ll learn exactly that.
We’ll cover the exact strategies you’ll need to learn in order to build and grow a profitable online store.
Sure, you can throw together a website in a few hours. But to make real money, you need to learn the inner game behind successful online stores.
This is that inner game.
Pinterest is often looked at as a wedding or interior design inspiration platform. Or a tool that’s mostly used by young females looking to explore new styles.
It’s not a good sales driver. Social platforms like this are just for fun.
You’ve probably heard those phrases, or some rendition when looking to explore Pinterest as a viable tactic for business growth.
But that couldn’t be farther from the truth.
Peeling back the layers of Pinterest opens the gates to a platform that’s built for selling and multi-channel success.
You can create groups, boards and sell directly on the site with an on-site checkout.
And currently, businesses are finding massive success.
Here’s how Brilliant Business Moms used Pinterest to generate thousands in sales and how you can do it too.
Retail is one of the most competitive industries around. Shops carry hundreds to thousands of products depending on the size of the store.
Walk into your local retail store for clothing and you’ll see hundreds if not thousands of brands.
The same is true for just about any market. Local hardware stores are even carrying dozens of brands for the same product, let alone major retailers for food, clothing, and hobby.
It’s a dangerously tough market to enter, with competitors in almost every space.
But sometimes that’s a good thing.
It gives you room to differentiate yourself from the others by showing persistence and creating a retail strategy.
And that’s exactly what The Paint Brush Cover did. They used persistence, a door-to-door strategy and a trade show strategy to get placed into hundreds of retailers.
Now, their business is thriving and bringing in sales from multiple sources.
Here’s their journey, their story and how you can implement their plans to get your product into hundreds of independent retail stores in no time.
Video based content has grown massively in the past few years. It’s dominating the online market when it comes to content.
In fact, Cisco reports that 82% of all internet traffic will be video by 2021.
More and more marketers are starting to add video marketing into their content strategy, according to HubSpot.
But creating video isn’t as simple as uploading new content and watching the leads flow in.
It’s just as, if not more saturated than blogging already is. Currently, 72 hours of video are uploaded to just YouTube every minute.
Here’s how Snowboard Addiction broke through the noise and developed a strategy that helped them grow to become a million dollar business and how you can implement their tactics for your own success.
When looking to scale, most ecommerce companies start to either increase acquisition efforts or develop new products to reach new markets.
When it comes to ecommerce products, the more, the merrier, right? Sometimes, but definitely not always.
While offering more products and developing more products can open your business to wider markets, it can also have devastating consequences.
More SKUs to manage, more time and money spent on research and development and not to mention manufacturing, fulfillment and different shipping and packing protocols.
Adding new products to your line seems like a no-brainer. But more often than not, offering more products isn’t the only way to scale your business.
Your default setting shouldn’t be to keep producing, but rather, to sell higher order values and improve your existing products.
Creating higher average order values allows you to sell less often and develop high customer lifetime values.
Here’s how Vrai & Oro, a jewelry brand was able to widdle their SKUs down, increase order values and leverage a smaller product line to reach $2 million in annual revenue.
When looking for advice on your company or industry, where do you usually turn?
More than likely, it’s reading blog posts or listening to podcasts from a thought leader.
They’ve been through the ringer and came out on the other side with a successful business or two.
Think of experts and industry titans like Gary Vee and Warren Buffett. Whatever they tend to say goes.
Even if it’s not true, thought leadership can often “speak it into existence.”
Everybody wants to become famous. But that’s often unrealistic.
Becoming a thought leader in your niche is the next best thing.
Becoming one is no easy feat, though. It’s one of the most difficult things to accomplish in crowded markets.
And more often than not, accomplishments or disruptiveness are key factors, which are hard to achieve in of themselves.
But doing so can take your business from in debt to profitable faster than you can blink.
Here’s how a no-name company became thought leaders and turned a profit in just three months, and how you can set yourself up to become one too.
In today’s world, consumers can be found browsing products, services, and information everywhere. From social media to mobile apps to QR scanners and more.
Studies are constantly proving that multi and omnichannel businesses are dominating the competition when it comes to driving sales.
Customers want and need to be able to buy wherever they want to, and businesses that meet those demands are succeeding.
The latest data shows that customers shop on multiple channels, and leveraging that can grow your business faster. But that’s not always easy to do.
Establishing multiple sales channels can be a big undertaking. It changes everything from your daily schedule to inventory and adds yet another sales channel to market and monitor. ‘
But if you want to capitalize on the wave of consumer behavior focused on multi-channel acquisition, you need to.
Here’s how Think Crucial grew into an eight-figure brand using multiple sales channels and how you can do it too.
Creating viral content is nearly impossible. It’s a shot in the dark. A once in a lifetime event.
It’s almost an unrealistic, unattainable goal. And let’s face it: creating content takes hours of time, research, and planning.
But here’s the thing. You don’t actually need to create your own content to drive traffic and engagement for your business.
Selling through great content doesn’t mean producing your own branded content.
The chances of you alone creating a viral piece of content are slim, but the chances of others aren’t. When you can pick from millions of people posting great content, viral content is much easier to stumble upon.
In this post, we’ll show you how to curate viral content, capitalize on UGC and use these content mediums to reach six figures in sales in just nine months.
Sending emails is a great way to boost sales. Emails have been one of the best platforms for reaching customers for years now.
But the problem is that email open rates aren’t great. Standard email open rates are around 20%.
Have promotional deals or coupons you want to give to customers? That email open rate drops to 15% or less.
The fact of the matter is, people aren’t opening their emails as often as they used to.
Meanwhile, there is an entire untapped market of text messaging in sales. And people open texts fast.
When was the last time you got a text? I bet you opened it within the first few seconds if not the first minute, right?
Typical open rates for a text message are mind-boggling: 98%.
Some reports and datasets even put it at 99%. But either way, that number is astounding when it comes to marketing.
No other medium can guarantee that high of an open rate.
Mobile and text-based messaging are making a comeback, especially in ecommerce and sales.
Conversational ecommerce is changing the way we shop. Turning to simpler forms of communication is becoming more effective.
Here’s how Air Tailor uses this strategy to grow 100% YoY and how you can implement a text-messaging strategy.