With Amazon bulldozing its way through the marketplace in nearly every industry, small business owners are fearful of being left behind in the rubble. Those who are selling products online, that are also available by large retailers, are at a competitive disadvantage and should find a way to set themselves apart from the superstores, perhaps by selling items not available on the likes of Amazon. But what about businesses who are selling their own product line? Should they join forces with the enemy by selling their product through the Amazon marketplace?
Absolutely! Even if the profit margin is reduced, it is best to sell goods in as many different marketplaces as possible. While the profit margin may be less, the volume of sales will likely be higher, making it well worth the effort. The Amazon eCommerce platform is powerful, and one to be taken on step by step as small businesses would otherwise not be able to gain such broad market exposure.
Should small retailers abandon their online store? No. They should keep doing what they do best, being an authority on their product line, and play big. A small retailer’s website should be filled with valuable compelling content such as “How To” videos and blogs that offer consumers insight into the product. If you don’t already have an online eCommerce store, you should get started with one right away! You can either use Shopify or Volusion (look at details here to find out more about them both). Creating your own eCommerce store is usually a great place to start when trying to sell online. If people can visit your online store, it’s more likely that they’ll spend more time having a look at other products too. This can increase sales for the company. However, when you’re selling online, it’s important to make sure that you have PCI compliance on your website, allowing your business to accept credit card payments. To make sure your business has PCI compliance, it might be worth looking into the security software offered by TokenEx. That should make sure that your eCommerce site is safe for users to purchase from.
Furthermore, digital eCommerce businesses might also want to find new ways to embrace current trends surrounding subscription-based business models.
With the rise of technology and software as a service (SaaS) products expected to continue soaring over the next few years, more companies seem to be moving from a revenue model where revenue is made from a one-time purchase towards a subscription model where revenue is made on a recurring basis in return for consistent access to the delivery of goods or services. To learn more about the software required for setting up a subscription-based business model, head to the FastSpring website.
The Amazon shopping cart is a marketing workhorse but it can’t offer the same personalized, interactive experience that business owners can to woo customers. They might even consider offering an incentive to purchase directly from the manufacturer such as a money-back guarantee. Remember that Amazon is only another marketplace and everyone has their favorite places to shop.