I just want to start off by saying - If I see another blog, article...excuse about the economy I am going to lose it!!! I mean can't we just all accept the fact that it sucks - but it is our world for now so let's move on. Ok then...
Now that I have your attention, I want to focus on MONEY again, sorry. If you're like most of the industry, you're really starting to have those conversations with retailers and pro shops about order quantity, perhaps you are far beyond those heartaches. It goes without saying those orders just ain't what they used to be. Many new companies are fighting tooth and nail to break into retail and are just getting beat out the door and some times it's with the very club they are trying to sell.
After your bruises have time to heal you may want to start re-evaluating your e-commerce strategies. Retail means wholesale and wholesale means smaller margins and smaller margins make you want to write a blog, article...excuse about the economy, especially if wholesale orders are shrinking. This is no good! Solution: A strong run at e-commerce business is the way to supplement sluggish retail sales.
"BUT I ALREADY DO E-COMMERCE". Having a shopping cart website does not equate to e-commerce! True e-commerce is having a clear plan that communicates monthly sales objectives for your website, allowance for marketing/advertising to drive consumers to your site, and a true dedication. Web sales are not just icing on the cake, they can be the life blood of your revenue stream, especially as your retail deals dwindle or stall.
I am not much of a mathematician but I do know a thing about ROI; Return On Internet, it means that in order to get your product or service to sell online you must make an investment; time, money, resources. Some unsuspecting business owners let a web design firm tell them that their investment needed to be building the most incredible looking site to out-class the competition. Now you have a great looking site with no sales and less of a budget to do anything about it.
So I challenge business owners to consider another ROI formula - Re-Evaluate Online Investment. The internet is becoming the choice method of product and service acquisition, what are you doing to DRIVE people to your site? More importantly when they visit your site what are you doing to convert them to paying customers or clients?
The strategy for e-commerce is just slightly different for service oriented businesses in that your internet marketing efforts must be followed up on. Instead of direct buy, your visitors are leads that must be led through the appropriate qualifying steps to yield a sale. It's still going to take an e-commerce mission to get you there.
Here are some quick tips to make your business more e-commerce friendly:
1. Benefit Statements not Sales Pitches - Solve a problem, gain a customer.
2. Build Loyalty Programs - Repeat business is a sure fire way to build sales online
3. Create an Affiliate Program - You can sell more with the help of others.
4. Run Frequent Promotions - Play with the wholesale margin you would have lost in retail and apply it to online discounts and promotions.
Some tips for Service Oriented Businesses:
1. Create an E-Book - Capture more leads with a downloadable snippet of your services
2. Third Party Proofs - Back up your claims with some case studies
3. Do it for FREE- Throw out some free instruction
4. Blog - Get your ideas out there instead of hiding them in your desk where no one can see them, chances are you'll have more interest and more leads than if you keep your services a secret.
Ed Sanchez
ed@golfpulpmedia.com
www.golfpulpmedia.com
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