Do you have a physical store and want to start selling online? These are the 5 things that every retailer should know about selling online. Take note and decide!
“Internet and electronic commerce are two great advances of our times, and their use is increasingly widespread.”
Few are the physical stores that lack digital presence, at least through a corporate website. But there are still many who refuse to sell online, or simply do not know how to do it.
If you are one of those who has a physical store and your pending issue is to start selling online, this post is for you. Because in it we break down the 10 things that all retailers must know about selling online.
1 – Selling online requires plenty of effort
Today there is still the (erroneous) perception that selling on the Internet means moving from a moribund physical business to a flourishing online business with nothing more than growth prospects.
While it is true that the online media favours a business boost in certain aspects, it is also true that, if you do not move with ease in that medium, your business failure can be resounding.
Also, you have to keep in mind that, if your product or service does not interest the physical world, it is very unlikely that you have an interest in the online world.
After all, people who buy online are the same people who walk down the street; those who do not enter your physical store are the same ones who probably do not buy you online.
2 – The main driver of purchase is the price
Understanding by “price” the sum of the sale price to the public and the shipping costs.
“It is hard but it is like this: the main factor of online conversion is that the resulting amount of the sum of the price of the product and the shipping costs is interesting.”
Secondly, there are other possible purchase drivers, such as the quality of the product or service, personalized advice or the variety or specialization of the catalog.
So when it comes to launching to sell online you should bear in mind that, in all probability, your potential customers are not willing to assume the price of the shipment, at least not in its entirety.
To be interesting, you must be able to absorb all or part of the shipping costs, even at the cost of sacrificing part of your profit margin. And you should also work hard to optimize that margin to the maximum.
In the case of the Internet, the profit margin will not optimize it by raising the price, but by buying cheaper. With what from the zero minute you are interested in betting on having a large volume of orders and a lot of turnover.
In this way, you can make cheaper purchases and offer the product also cheaper to the customer. Your sales volume will increase, and also your profits, but with an inverse strategy to that of traditional retail: instead of betting on the service and making few sales but large, you should bet on the price, with the goal of making many sales of smaller quantity.
And this is how you will successfully enter the wheel of the most popular purchase driver in Spain: the price driver.
3 – The online store is important, but it is more your product or service
If your mind entertains the idea of starting to sell online, surely you have some savings to make this project a reality.
However, be careful, because it is easy to get carried away by what seduces us the most: the image, the first impression, the interface on which we click.
The appearance of your online store is important, without a doubt; and it is even more so that it technically works well, that the user experience (UX) is good and that the checkout page is short, exceeds in a few clicks and does not ask for much personal data.
But more important than all that, and street, is that your product or service is of interest to your audience. If what you sell does not matter, it does not matter how cool the web is and how amazing the user experience is. The monkey, although she dresses in silk, mona remains.
With this we want to tell you that it is more important that you focus on the differentiation of your brand, the added value of your catalog and especially in the recruitment that in design and technical aspects of the web.
4 – And even more important is the recruitment
As we said in the previous point, one of the keys to selling online is to realize that the image of your online store is not the most important. The most important thing without doubt is the recruitment.
Because it is useless to have a very cool website with an incredible product if you do not have traffic and consequently you enjoy low conversion probabilities.
Do you remember those savings that you have saved in a bank account waiting for you to decide to sell online? Well, of them, it invests at least 80% in fund raising.
5 – There is not only Google Adwords
And in the thread of the recruitment, it is clear that one of the first means of recruitment that comes to mind is online advertising, of which Google Adwords – now Google Ads – is the maximum exponent.
But not the only one.
And, without going any further, social networks offer advertising systems that are very interesting for retailers who just start selling online and need new customers.
From the outset, these systems are much easier to configure than Google advertising, so you will not need outside experts to help you; but, in addition, they allow you to segment much more and they are also much cheaper.
Take a look at Facebook and Instagram advertising: depending on the product you sell, it may be the ideal place to start capturing.
And also get inspired by Hawkers’ online advertising strategy in social networks, a company that opted for hyper-segmentation.
These are 5 of the 10 things that every retailer should know about selling online. What do you think of them? Did you take them into account or have they surprised you? Is it selling on the Internet as you imagined it?