Have you ever wondered how brands like Shein or even Amazon became the sales moguls that they are? There’s a lot of work behind them and many people working on numerous strategies to boost their presence and sales.
All that takes time, effort, and money. So if you want to become a magnet for buyers, you’ll need to step up your game, and your best bet is to invest in infrastructure to do it. Take a page out of Jeff Bezos’s history with Amazon. He didn’t invent something new, he just took retail and e-commerce to the next level.
Bezos’ decided to sell books out of his garage, and then, he did something that you should be doing: he listened to what his customers were asking. New products, new sellers. The platform became a big marketplace for all types of products, and now, even you can sell there. And then he created other services, but that’s another story.
So if you want to walk the same path, a working capital loan could do wonders for your company if you use it right. The only thing that would be left is for you to operate your business and get on your way.
How can a working capital loan work to your advantage?
It is not that hard; you just have to place the money in the right place. Infrastructure, proper CRM, and e-commerce strategy, and you’ll be on your way. But, let’s face it, technology is not magic, so you’ll need a team to help you out and some key points in the operation of your business.
Become a buyers dream by applying some (or all) these tips:
Create actual value for your customers.
You don’t have to innovate a whole new product that’ll change the world. You’ll just have to be the best at what you do and deliver a good product that gives your customers money’s worth. The best quality, the best logistics, or even the best customer service.
Now let people know.
It’s not enough to be the best out there; you need to be the best at telling people what you do. Either in social media, inserted commercials in apps or web pages, the goal is to let people know what you do and why you are better than anyone else. Just don’t become one of those brands that you see everywhere, disrupting their peace and bombarding publicity all over the place.
Be straightforward with your customers.
Always follow the motto ‘what you see is what you get. If you have medium quality, then own it, don’t sell your product as a premium brand, but as an achievable item. Very much like Shein or Forever 21 does. Have you ever bought something in those stores that you think are super high quality or will last ten years? No, you accept there for the price, and you already know that you are trading quality for quantity. Every customer appreciates honesty.
Don’t over embellish.
Sparkles and filters can get you so far. A clean and straightforward presentation is even more attractive, elegant even. Of course, you’ll have to take care of details, but the purest and more precise your product is shown, the better. And you don’t even need a big production, a lightbox, a camera phone, and a good eye is enough.
Mind the competition.
Even if you have the best product out there, other brands are working in your same arena and probably are even reading this piece. So always look at what they are doing and learn from them. And this doesn’t mean you copy their strategy, but see what they are doing right and, most of all, what they are doing wrong, so you don’t do it in your company.
Become the best experience.
Today, it’s not enough to have a product; you need to create an experience. Do you know who does this exceptionally? Yes, Amazon and Shein again. Their algorithms consider what you like, what you search for, and pop out things closer to your needs. And on top of that, you get to play in a few simple steps, add to cart, check out, pay with a click. Less than a minute to complete an order. And they even suggest things related to what you are about to buy. Who doesn’t love that?
You can deliver your product to a customer overnight and then take two weeks to give them the next one. You don’t get to change the quality from one day to another. Have a great and productive relationship with your suppliers, hire a team for picking and packing and make a deal with a delivery company, so your client knows what they’re getting and when.
Have excellent customer service.
People buy more when they can reach out to a human to answer all of their questions. And it doesn’t matter if the ticket is big or small, all customers are important. And then, listen to their feedback to learn what they like and dislike, make follow-up contact, and not push new sales but get to know what your customer wants. This will help you in two ways: happy customers and information on what you can improve.
Either shipping companies, your suppliers or even a collaboration with the competition can make you stand out from other brands. You’ll get better deals and exposure and your allies a more significant operation. As you grow, they grow.
Ask your happy clients to refer prospects.
Tell them to tell their friends about your excellent products. Create a platform of discounts for referrals like Uber did once and ask for positive ratings in your e-commerce spaces. A good reputation is priceless, but you can always ask for comments or reviews in a friendly and polite way.
So if you are ready to make all this happen, start researching the tools you need to achieve it and write down a strategy, so you’ll know how much money you need. The best working capital loan for you, like Camino Financial, has and how you will improve your operation to step it up.