Before you can sell your ecommerce business, you need to take a stock of its current status. Review each step in the development process for every item that makes up your business.
If you have a large online presence, then you should also assess the overall popularity of your brand and whether there are any areas where your business is more popular than others.
You can use website traffic statistics to see how many visitors each page within your company has. Look at which pages are most likely to lead to a purchase and which may cause someone to leave without making an inquiry or a purchase.
Even if you’re not selling an entire business, it makes sense to put together a plan that lists all of your efforts and goals.
It can be as simple as planning a promotional campaign or as complex as launching a major launch week later this year.
Planning is critical to success so don’t underestimate the value of planning. A few well-organized steps are worth more than one thousand speeches because people know they can count on you to do something about their problems.
Also, by being able to measure what works and doesn’t work, you can quickly improve your strategies over time.
An effective sales strategy isn’t dependent on anyone else helping you; doing it alone requires skill and expertise. You will also need tools, which you can get from another providers or make yourself.
It’s impossible to sell your business without establishing a budget. You will need to spend money regularly, so it makes sense to make sure you have enough income coming in each month.
Your monthly expenses are things such as rent/living costs, insurance, loan payments, utilities, food, and other regular charges (cell phone bills, shopping coupons).
It is very difficult to predict all of your business's expenses for any given month. So it is best to establish a short-term budget plan at this stage.
Budgeting for months ahead doesn't hurt either because you'll have time to prepare a longer term budget after you've established its equivalent in savings.
Even if you’re selling your ecommerce business completely for money, you should still create a sales funnel. After all, getting people into the pre-sell stage is a huge win because it helps increase conversion rates.
The best way to do this is by offering lots of different things for free. For example, you can promote products in front of people that are already rated and reviewed.
That way they know there’s a demand for what you have before they ask about pricing. You also set yourself up as an expert and allow customers to see that you really care about your audience.
By being seen and known around your industry, you will build trust and relationships that may help you later on.
Also, by creating content like articles and reviews that teach people how to use your product, others may take note and want to learn from you.
Your business blog and other forms of marketing need to be the center of attention until you get the word out that you are selling. Once you do, then the same strategies apply to keep buying traffic coming back.
You can either charge them money or give them something for nothing. If you choose the latter, make sure you offer values beyond just cash – treat your users, customers and inboxes nicely and they will continue to buy things from you.
Even if you are planning to sell your business, now is not the time to be shy about putting up a solid web presence. If you’re going to market your ecommerce business online, it should already have a home on the internet.
You will want to put up a great first impression for any potential buyers by having your website look professional and modern. Of course, you can always outsource work that task or choose another tool from this list to help focus on selling your business.
The more information you share on the site with others, the better chance you have of getting recognized and appreciated. Don’t worry if the layout is boring and straightforward, as long as it gets the message across.
More importantly, have all important information available such as how to access files, what programs are needed, and where things can be downloaded. Include links to other sites in order to make it easy for people to find them.
Keep everything organized and clean looking, and use plain text without graphics or ads. You don’t need to go crazy with colors and custom designs at this stage. Just keep it functional and clear enough so someone doesn’t walk off thinking they’ve gotten lost down the rabbit hole.
Also set yourself apart from the rest by being aware of what it takes to get sold online. People who buy websites aim for quality content, excellent customer service and ease of use.
Having a well-designed website filled with informative articles is an obvious choice, but if you think you could add something extra special or unique, why not? That is part of your advertising plan and one way to attract customers immediately.
Start-up costs are one of the biggest challenges for people who want to sell an ecommerce business. While cost can be difficult to reduce without restructuring, there are ways to tackle them.
The first way is by getting licensing or certification. This can help you lower the cost of starting an online store. Plus, it helps customers trust you more, which in turn may make your sales more successful.
Getting licensed to serve alcohol is another option. There are only so many places that can handle cocktails, but if you’re willing to work hard, there are lots of places that offer food license classes.
Once you’ve marketed your business and found some takers, it’s time to get out there again and find more customers. You can start by contacting previous customers to see if they have any suggestions or comments for your business.
You can also advertise in local newspapers. Put up signs in an outdoor form near where people work, play, or go shopping.
Host meetings where people can ask questions and share their dreams and aspirations with you. People like talking about what they want from life, so this will help get them thinking about different options.
These are great opportunities to slip in that you offer a free consultation or that you price reasonably. Salespeople love giving advice.
Even if you’re not good at selling yourself, your business deserves strong attention from potential buyers. Buyers are likely to be nervous about buying your ecommerce store or brand.
You can help them feel more comfortable that way they know what you’re talking about. Visit your favorite online retail site then go to the shop section of the website.
Start with one page of products then sell tickets or coupons for larger purchases.
Put a link in your advertisement box that leads directly to your shopping page and offers customers their choice of either purchasing the product today or saving it up until tomorrow when they will receive a discount.
Selling through an active social media channel is also very effective. Create posts that have links to purchase products or request discounts. You can leave notifications set so people watching your content see updates containing a call to action.
The most successful sellers are those that provide something unique for everyone. It may be related to your personal experience or a special offer only available by clicking on any specific item.
Add price brackets and variables to give players options. Set milestones to make the game fun and keep people interested.
Let people lose money instead of pushing deals on them. They will get tired of being “ripped off” and stop spending money.
One of the most important things that you can do for yourself is to get out and talk about your business with other people.
People are one of your biggest resources and an easy way to find people is by being outgoing and sharing your story with others.
You can tell stories after meetings, at events, online, or anywhere else that you have access to people who want to hear what you have to say.
Outgoing people like talking about their products and they’re already in the habit of doing it. You just need to help them out by giving them a starting point.
That starts with going up to someone and saying “hey” with a smile on your face and a willing tone of voice. Then move onto talks about product details, promotions, etc. If someone has asked you questions, be ready to answer those too.
Spending time around people means there’s a chance they will ask how much you cost, when you started, why you started, or any other questions you may feel comfortable asking. Having a few answers prepared makes you more confident speaking with people.
And lastly, stay positive and make conversation. Let the people you meet know that you are interested in what they have to say and would love to learn more about their industry.