Do you envision your retail business one-day rubbing shoulders with the giants in its niche commerce industry? If you want to scale these lofty heights, you’re going to have to put the advice laid out below into practice.
Here are a few things that you must-do if you want to take your retail business to the next level:
Sell your products on Amazon
Amazon is the perfect platform on which to sell your products and grow your retail business. By retailing via this platform, you will bring more eyes to your product, you’ll boost your brand awareness, and ultimately, you’ll prove your worth as a viable online trader of goods.
To ensure that you don’t struggle to get to grips with Amazon, you should align yourself with an agency that offers Amazon services, such as Nuanced Media. Their marketing, consulting and demand-side expertise will help you to transition onto this selling platform in a seamless and targeted fashion. For example, you can connect with more customers by using video ads. In turn, this will allow you to devote more of your time and effort to the task of optimizing your product range.
Monopolize your local area
You might have dreams of taking your retail business overseas, but you aren’t going to be able to extend your reach if you don’t first monopolize your local area. Before you can scale the lofty heights of your industry and relocate to an area like London, New York, or Paris, you need to lay a strong foundation for yourself within the area that you are currently operating. Doing this will help you to create a loyal fanbase, and it’ll actually give you a better sense of your target buyer persona.
Study your competition
Studying your competition is one of the best things that you can do in your bid to take your retail business to the next level. This will allow you to see what does and doesn’t work in your market, which in turn will help you avoid making costly mistakes going forward.
To study your competition in a manner that is completely above-board, you should:
- Attend industry events (conferences, seminars, trade shows, etc.)
- Analyze public industry reports
- Take a look at your competitors’ websites and study their SEO strategies
- Define their strengths and weakness when it comes to social media marketing (Are they using the right platforms? How often do they update their status? What is their overall following? Does their content engage their audience? Do they convey a specific tone of voice? What are their response times like?)
- Conduct a survey among your target audience
- Find out what your competitors look for in candidates during their hiring and onboarding process
You didn’t start your business just to see it struggle and flounder. You took the plunge and opened your company in the retail sector because you wholeheartedly believed that you could carve out an expert reputation for yourself as a professional retailer. Rest assured, if you put the advice laid out above into practice, you’ll find yourself back on the path to success in this field sooner rather later.
Ryan Flannagan is the Founder & CEO of Nuanced Media, an international e-commerce marketing agency. Nuanced has sold $250,000,000+ online and Ryan has built a client base representing a total revenue of over 1.5 billion dollars. Ryan is a published author who has contributed to numerous publications. To connect with Ryan, check out @Ryanflannagan on Twitter via Linkedin.