How to Grow an E-commerce Business
Many entrepreneurs have set up an e-commerce business in their home. In the early stages, it is possible to single-handedly manage the marketing, orders and fulfilment services with minimum outlay. This is a great way to get your retail business started.
If you hit the nail on the head, finding the right market for a great product, it could be time to grow your e-commerce business. Online retail partnerships, multi-channel distribution and targeting new markets are just a few options for scaling up.
Before you dive into your growth strategy, it is advisable to review your current position.
What stands your E-commerce Business Apart?
If you have reaped rewards in the early stages of business, you are clearly doing something right. There is significant competition online and you have found a way to attract and convert online customers. Before you take the next steps, a review will help you to identify what you do best. Consider:
- Which products are flying off the shelves and do they generate a profit?
- Is there stock that is failing to attract interest and is it time to discontinue that particular range?
- Why have online shoppers have chosen to purchase from you rather than a competitor?
- What are the core values of your business and how will these be retained when you scale up?
- If you had an influx of orders, where are the potential bottlenecks in your processes?
Getting a Helping Hand with Order Processing and E-commerce Fulfilment
If you’ve been a one-man-band, it can feel unnatural to involve others in your business. Having said this, it will be a challenge to maintain great service, as your business grows, without a helping hand or two. You could invest in technology, recruit additional members into your team and/or outsource part of the process.
When deciding on the options, it is imperative to remember that online customers want convenience. This means a quick response to enquiries, speedy order processing and fast deliveries.
Technological upgrades can aid your processes. As an example, there are a number of available widgets that can be incorporated into your website design to upgrade the user experience.
Another option is to outsource those fulfilment processes. This could be more effective than employing an assistant. For a start, it could give you access to a team of specialists, along with technology and capital to streamline processes. The service can also adapt, providing additional resource at peak times, without having to pay a premium in quieter months.
Finding a local e-commerce fulfilment centre can pay dividends in helping you to meet customer expectations. The great thing about working with a fulfilment centre is that a number of common issues are addressed in one place; storage of stock and packaging, time-consuming pick and pack and reliable despatch and delivery, along with returns handling.
Equipped with warehouse management systems, UK fulfilment centres will help to ensure that no order falls through the net and that packing accuracy is achieved, even during sales peaks. The system can be integrated to your existing software and provides you with real-time data to support stock management and business planning.
The Options for Growing an E-commerce Business
Now that you are open to working with others to grow your e-commerce business and you don’t have to concern yourself with fulfilment, you can look at opportunities for growth.
The options include:
- Affiliate marketing
- Retail partnerships
- Multi-channel e-commerce
- Targeting international markets
- Paid advertising
- Customer retention strategies
It is vital to only select options that sit with your company values and future vision. We will discuss each option in greater depth over the coming months, starting with multi-channel marketing.
If you have any questions regarding our e-commerce fulfilment services, please get in touch with Fulfilment Matters on 01296 531601 or email email@example.com.