Starting an eCommerce (online shop) is a business idea that has heaps of potential but is also notoriously competitive.
A lot of eCommerce sites find that they see growth for a few months and then it plateaus and they can’t move forward any further. They still do ok and bring in a steady stream of revenue but growth tails off completely. If you’ve experienced the same, you need to do something drastic to kickstart your sales and get some new customers in, otherwise, your business is likely to slowly fizzle out after a couple of years and eventually go under. Normal sales and marketing techniques probably won’t cut it here so you’ll have to use one of these more inventive ideas instead.
Open A Physical Shop
In the early days of the internet, all of the big high street stores were quick to open up an online branch to take advantage of that market as well. But now the business model is changing and most stores are starting in the online world. Most don’t open a physical store but it can actually be a very good move. If you’re only operating online, you’re alienating the people that do most of their shopping on the high street still. By opening a physical store, you open yourself up to a whole new set of customers. Click here to search for some retail properties to get an idea of what is on offer. You can create a bit of a buzz about the new store through the online channels that you’ve got and offer some exclusive products that aren’t on the website to get your existing online customers to come in.
Launch A New Product
Sometimes, sales tail off because everybody that is interested in your company has bought one or two things from you and now you don’t really have anything else to offer them. If you had more products, maybe those people would come back and buy them as well. Launching a new product is always a good way to kickstart sales again as long as you get it right. You need to look at your existing products and try to identify what people liked about them so much. If you can work out what you did right the first time around, you can replicate it and hopefully launch a new product that boosts sales.
Attend A Business Event
Partnering with other companies that are similar to your own is a good way for both of you to break into new markets. Attending a business event is one of the best ways to find other companies in your industry that might be interested in partnering with you on a marketing campaign. There may also be a lot of potential customers at the event as well so you can get some face time with them and really showcase some of your products.
If sales are stagnating, you can use these innovative methods to kickstart them again and make your ecommerce site grow.