For small makers and manufacturers, it might seem hard to establish their online web store within bigger competitors. Here are four trends that will help to increase the sales of your business.
Every year, more entrepreneurs decide to sell their products. That is great, but it does not automatically increase their sales and revenues. To keep up with competitors and see the business grow, it is necessary to follow the latest trends for selling online.
Sell to a New Generation
While some businesses are still trying to figure out how to sell their products to the Millennials, there is already a new generation that needs some attention: Generation Z. This generation is born between the mid-nineties and the early 2000s. And they are on their way to becoming the biggest generation of consumers by 2020. If a business wants to reach this target group, it is really important to understand that they grew up with access to modern technologies and they care a lot about their own impact on the world, for example, environmental issues. A study showed that Generation Z is very interested in loyalty programs and they are 50 percent more likely to write a review on a brand in exchange for points.
Let a Software Handle the Supply Chain
Small makers who are selling online, often handle their orders manually, sometimes with the help of an Excel spreadsheet. But now, it is time to turn these small businesses into smart businesses and change their way of working. Quickbooks inventory management software is one of the most popular tools to track your manufacturing process, from production to finished product and gives a thorough cost, profit, and loss evaluation.
Develop Machine Learning and adopt AI
Within the next few years, the way sellers communicate with their customers will completely change, thanks to Artificial Intelligence (AI) and Machine learning. AI can help makers improve their sales strategy as it has the ability to analyse a huge amount of data. The Harvard Business Review shows that companies who are adopting AI and develop machine learning are seeing an increase in leads and appointments of more than 50 percent, cost reductions up to 60 percent, and call time reductions between 60 and 70 percent.
Improve Social Media Channels
If a business has not done so yet, they need to find out which channels are used by their target groups. Social media can be a really powerful tool to increase sales if it is used correctly. A big benefit from Social Media platforms is that most of them are free, so it will only take a good strategy and some time to establish a brand there. Every business should make sure that the different channels are linked to each other, so the users can switch seamlessly between them.
It is very important for businesses to remember that by selling online, they are having the chance to reach out to a whole new generation of buyers. By following these tips, it should be possible for small makers to see a change in their revenues within a few weeks. So, what are you waiting for?