See More About:
Make Money With Your Online Retail Store
by
Stephen Woodall
Making money with your online retail store has many options depending on the amount of time and money you have available. Many work at home business seekers may be looking for just the extra income when starting an online retail store. Getting started can be easily achieved at a cost that is minimal if any at all. Let us evaluate how we want to promote our new business with the assumption that we are just starting out.
The easiest way to make money with your new online retail store may be to take promotional efforts offline, at least in the beginning. We need traffic to our web site and we want to generate a steady flow of customers as soon as possible. When I say offline that doesn’t mean knocking on doors or hosting in house sales parties. I mean that a side door approach can be an effective way to find new customers through offline promotion. As well as the least amount of time and money.
There are companies that will put you in business with your own web site, process your orders and drop-ship to your customers. This is leverage to your benefit because your workload never fluctuates or increases. No matter how much merchandise is sold through your online retail store. We can maximize this benefit if we approach it as leverage and use it to our advantage.
Starting out with your online retail store our only job is promotion. Before taking our efforts offline there are a few things that we should keep in consideration. Why start offline with promotion? Some just starting out may not have the time and/or money for a major investment and are just seeking extra income, and may prefer an ease in approach. Of course this may not be the case at all, but let us assume that we want to start slow and stick around for a long time. Good! Offline promotion also allows us to escape the highly competitive price choices that come with the internet, such as online auctions. Online retail store shoppers know that price comparison is a mouse click away. Still, we do want to stay competitive with our pricing. Promoting offline allows us good prices while allowing us to isolate our business and to give those casual internet shoppers an invitation to find us.
Remember, you can set your prices to be competitive and still make a profit. Think about the leverage that we talked about earlier along with the fact that your workload never changes no matter how much merchandise is sold. Don’t set your prices at what you think you deserve for a particular item. Set your prices for movement and circulation because you have the leverage that the company has provided. Who cares if the prices are too low? We want movement generating sales. This also gives our promotion a huge incentive to check us out, at their convenience. I have seen many online retail stores that have grossly inflated prices that are motivated by greed. Shoppers are not stupid and greed will flush an online retail store as quick as it started. Why would an online retail store owner over price his or her merchandise to hang onto an item, lose a sale, and not take advantage of the leverage given them? I don’t know.
Just starting an online retail store you can set you prices, if you want, to run a permanent sale. Say, 50% off all merchandise. This would look good on a business card or flyer and motivate potential shoppers to check your store out at their convenience. Never under estimate the power of the old fashion paper promotion, of course we need strong incentives such as the 50% Off All Merchandise! Retail giants still use this method to bring customers to their storefront, and make money at it through offline promotional incentives to their store.
Once your online retail store is set up with huge incentives offline promotion can be an ongoing casual approach to bring in customers. Make it a habit as you go about your daily routine. It does not take a sales person to casually pass a 50% Off All Merchandise! business card or flyer to someone in public. Virtually any place and time, even when going out of town. Always keep your promotional papers and cards with you, at least in the car, so you always have access to them at any given time. Stay consistent and your efforts will start to overlap. You may have passed a few around today, but it may be the ones that you passed around last week or last month that brought in a shopper.
This approach to promotion after you have set your online retail store up with huge price cuts will require very little work. Of course we do always want our store prices to match our promotion. Do keep tabs on new items that hit your online retail store shelves to keep prices accurate, and the rest will automate by itself.
Click Start
storewholesale.fsc2.com
your own online retail store. Memberships are free and take about 15 minutes to complete. Members also receive cruise card incentives as online retail store owners.
Article Source:
eArticlesOnline.com
}