Entrepreneurs are always thinking about business growth and ways to increase their cash flow. However, one thing that makes it hard for small business owners to grow their company is that small businesses tend to have fewer resources.
Business growth is even more difficult for small businesses that rely solely on eCommerce for their revenue. Online businesses don’t have a physical location that a customer can wander into by happenstance. If you’re an eCommerce entrepreneur looking for tips to help you grow your brand and your revenue, then continue reading to get some tips that will help your online business go viral.
1. Be sure you have a capable enterprise infrastructure in place before you launch your website.
One of the mistakes that many entrepreneurs make when starting their online business is they don’t put together an enterprise infrastructure capable of meeting customer demands. For starters, an eCommerce business should have a mobile app.
People expect to be able to access your full inventory and customer service with the press of a button. Mobile apps are one of the
most popular ways for consumers to connect with the brands they love most.
It’s also crucial that your enterprise infrastructure includes robust cybersecurity software, customer relationship management (CRM) software, and objectives and key results (OKR) software. As an eCommerce business, everything that matters most to your business is in the form of virtual tools, meaning you need the best of the best in enterprise software. To find the perfect software for growing a small business, HTML. Staff provides the technology and web development information small business owners need.
2. Upgrade your operational equipment.
One of the sure signs that it’s time to expand your operation is when you need to increase your workflow to meet your customers’ demands. Many entrepreneurs stunt their small businesses’ growth by not upgrading their means of production and distribution to meet the growing demand for their products.
It’s easy to be wary of the cost of upgrading your operations, but the upgrades will pay for themselves. For instance, if you make vape pens, you could quadruple your production with an automatic vape cartridge filling machine instead of filling your cartridges manually.
To grow your eCommerce business, you have to continually invest in it with confidence that your investments will pay for themselves and, ultimately, net you some profits. The money a vendor saves by not purchasing a cartridge filling machine is still slipping through your fingers in the form of your supply falling short of the demand.
3. Eat, sleep, and breathe digital marketing.
Many small business owners underestimate the importance of marketing. They assume that because their business and budget are small, efforts to increase their visibility are futile. However, nothing could be further from the truth.
Social media has become one of the greatest ways for businesses to spread their message without breaking the old bank account. With CRM software, you can personalize your marketing campaigns to target specific customers. Automation allows you to create social media posts and schedule them to be posted to your social media profiles at designated times.
You can even use your smartphone to shoot your own commercials for social media. If you decide to shoot your own ads for your website or social media page, it’s crucial to make sure that your videos have a professional look and feel. If editing videos isn’t your strong suit, then don’t leave it to chance. Send your work to a post production studio to ensure that your video ads have that “it” factor.
4. Outsource your accounting.
One of the most important parts of growing your small business is managing your finances. Even with all of the pro tools at your service, if you’re not an accountant, then you should outsource the management of your business’s finances. Letting an accountant handle your money is the best way to ensure you remain in good standing with the IRS and always have the funds necessary to run your business.
When your business grows, your revenue and financial responsibilities will too. Outsource your accounting ensures the integrity of your business’s finances.