More and more online businesses seem to end up in a so-called red ocean. Prices are under pressure, margins are getting thinner and costs for Google Adwords are running disproportionately high. I currently see this a lot, especially with the somewhat smaller e-commerce companies. The following 9 methods can ensure that your business will grow again.
9 Ways to boost your webshop
1. Launch a subscription model
Subscriptions are currently very hot, look at companies like Hello Fresh, streaming services like Netflix and Videoland and e-book subscriptions like Storytel. Consumers seem increasingly willing to pay monthly for products and services. See if this is possible within your branch. A good example is Mannenrantsoen.nl, where men can take a subscription to socks and boxers. Subscriptions are ideal, because they generate monthly income and thus provide a nice fixed stream of income.webshop growing male ration
2. Go international
It is becoming easier to enter the market in other European countries as well. Through channels like Google Shopping and Amazon you can quickly gain market share in different countries. All you need is someone who can translate the content on your website. I have had customers who immediately made huge turnovers when we set up Google Shopping for Germany. Do not forget our southern neighbors. Belgium is also an interesting market where it is generally easy to get an extra piece of turnover. It is important to keep the shipping costs as low as possible. My experience is that Belgians will not soon buy at high shipping costs.
3. Bring your own products to the market
As a result of internationalization, lines have become shorter and shorter. Now you can make products simple in Asia. For example, bring B-brands on the market that you sell next to your A-brands. For example, Alibaba makes it very easy to have contact with suppliers in Asia. Have samples sent and start with very small orders. Please note: do not price your suppliers directly from the market, because then you get channel conflicts. By placing your own products on the market, your margins are many times higher. The European intermediate supplier or wholesaler, which usually sits between the manufacturer and the webshop, is switched off in this way. In addition, it will also be easier to do B2B business, because you have more room to move with your prices. Higher margins ensure that you can give away more margin with larger purchases. In addition, you do not have to stick to the recommended retail prices for your own products, which are used by many industries.
By placing your own products on the market, your margins are many times higher. The European intermediate supplier or wholesaler, which usually sits between the manufacturer and the webshop, is switched off in this way. In addition, it will also be easier to do B2B business, because you have more room to move with your prices. Higher margins ensure that you can give away more margin with larger purchases. In addition, you do not have to stick to the recommended retail prices for your own products, which are used by many industries.
4. Start selling on other platforms
For many entrepreneurs, this step to selling on other platforms a big one, because they are afraid of channel conflicts and unrest within the industry. The competition does not stop, and what was the most normal thing in the world a few years ago, is no longer valid today. Therefore, do not let fear be a counselor in this area. It is now very easy to start selling on platforms like Bol.com and Amazon. Many of my customers quickly achieve 30 to 40 percent turnover here. Through a feed partner such as Channable, Koongo or Datafeedwatch you can quickly link to these platforms and generate revenue here.
5. Become a wholesaler
Many web shops also supply companies. If you find that margins and prices are under pressure, it may be an idea to become a wholesaler yourself and to tap into a new target group. It is relatively easy to realize a separate B2B login within your existing webshop-CMS with separate prices. Because the order value is often exponentially higher when it comes to companies, you also have more room to play with the prize. A good example of this is Bol.com, which also offers the possibility to create a business account.
FML marketing Agency Marbella
FML Marketing is a Dutch organization specialized in the digital development of companies in the Marbella region. We offer SEO, Web design, graphic design and Digitial Marketing services to our multinational customers.