eCommerce is one of the best and most effective ways to earn windfall returns on investment. The online platform offers the perfect tool to attract great number of qualified leads. The digital arena is full of online marketing tools that can be harnessed to generate large number of online leads. Social media advertising, search engine optimization, online forums, press release sites, and business directories are just some of the few online tools that can be used to funnel maximum number of visitors to the site.
One of the greatest benefits of starting up an ecommerce store in Australia is that it does not require investing large amount of capital. With just a few hundred dollars, individuals can set-up an online store offering goods and services to the consumers. Moreover, the overhead costs are little as compared to running a brick-and-mortar physical store. And the best part is that there are various ways that entrepreneurs can cut online eCommerce costs thereby boosting online revenues.
Below we have listed 5 effective measures that eCommerce businesses can implement to cut overhead costs.
1. Streamline Supply Chain Distribution Process
Streamlining supply chain and distribution process is one of the best ways to cut online costs. Incorporating supply chain management measures such Just in Time Inventory (stocking just the required products), integrated supply chain methods, vendor managed inventory are some of the ways online companies can streamline their supply chain process and earn above average return on investment.
With estimated online sales totalling $40.83 billion for the year 2014 and more projected in 2015, the eCommerce industry in Australia is becoming more attractive each passing year. Online businesses have revolutionized the way retail sales are conducted in Australia. And it is projected that online sales will continue to grow in popularity in the coming years presenting significant opportunity for eCommerce businesses.
Online selling can be conducted 24 hours a day and seven days a week. This presents a great opportunity for online businesses to earn windfall returns on investment. Thanks to the ease of setting up a business online, budding entrepreneurs can easily create a start-up business without investing huge amount of money. However, there are certain challenges and roadblocks that business owners have to face when setting up an online business. Here we will take a look at three main challenges faced by fledgling online businesses and the tactics that can be employed to overcome them without much difficulty.
The ecommerce industry says that the amount people spend online is heading in just one direction and that is upwards. If you own an ecommerce business in Australia, it is time to ask yourself if your business is going the way you had planned. If it isn’t, then it means that you are not following the top ecommerce business trends in Australia.
The fact is that the retail industry has gone through several changes, and is on the verge of a new ecommerce era. The Australian Bureau of Statistics shows that the net income from internet sales between 2011 and 2012 was approximately $237 billion, which is a big achievement. As an increasing number of people are choosing online retail stores to shop for their goods, competition between various players in the industry continues to grow. Therefore, your best shot is to follow the latest trends and lead the market.
Here’s a list of the latest ecommerce business trends to follow in Australia, based on the behaviours of the ecommerce customers in the country.
Do you plan to set up your very own ecommerce business? Have you planned out each detail and see great potential in your new enterprise for business success? Then what are you waiting for? Get started!
But before you set out to begin your business, make sure you know the steps to setup an ecommerce business and run it successfully in the industry without any problems.
To get started in ecommerce, you need to be aware of all the details and trends in the industry. Know the dynamics which govern the market and be aware of what you can do to make the conditions beneficial for you.
Be mindful of the following things before you setup your online business.
Know About the Work Involved In Your Online Business
To start an online store, you will need to have a clear idea of the competition in the industry, the prevalent trends and the essential factors needed to initiate a successful start-up.
Make sure that you know how to manage needs of online customers and their orders, and have a team to constantly update and add new content on the online store site. Employ the best people for managing the different marketing and social media channels and give your business the exposure and boost it deserves in the initial phase.
Have a Unique Product, Want to Sell Online? Are Your Prepared?
Congratulations!!! After months of rattling your mind you have decided on a lucrative online business opportunity and have accumulated capital to launch it. However, without a professional digital agency, starting an online business would not be easy as it appears, there are roadblocks before you can achieve a break-even in terms of profit. So, here is a 5-step checklist to guide and steer you toward success.
Did You Actually Get a Feedback on Your Product Before Launching?
If you thought your family and friends found your business idea or product highly useful, think again! Feedback obtained from people who are emotionally close to you would appreciate every business idea that emerges from your mind. Seeking a nod from them is a disaster for your launch. To validate if your product/service is unique and sell-able, you must conduct a market survey. Connect with potential customers on the social networks such as Twitter, What’s App, Pinterest, Google+, and FaceBook to gauge their interest in your product or use customer insight survey tools, such as Client Heartbeat and Qualaroo.