Make Your Business Count This Year!

By Author: Lucy Newman
Total Articles: 25
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After Year-End Sales closing, the first three months are usually the best time for online merchants to conduct and implement all kinds of Researches, Renovations and Resolutions. After Holiday Sales Bonanza is over, it's the right time to reassess your business.

2009 has brought a lot of changes to eBay's base platform and the growing determination of many online sellers to go Multi-Channel is two major factors in recent times. These two factors have really inspired sellers to work out such experiments with their businesses and these three months are the right time to do so.

I personally have spoken to several of my seller friends (most of them are from eBay background) to find out what exactly they were planning to work out during these three months and to my surprise most of them have complied with me that they wanted to go global with apt technological support for their growing business. Though Recession towards the end of the previous year has marred a lot of such planning, yet sellers have not stopped becoming bold so far as implementing innovative stuffs. After assessing all replies, I discovered Four Decisions ...
... that sellers are keen to concentrate during these three months.

Look into the Barrel Down

A proper analysis of the things that worked and did not work for your business over the previous year is one of the best ways to assess your business. EBay is such a platform where you can sell anything to anybody. Some eBay Sellers said they plan to get rid of slow-moving or non-performing inventory to better help them assess and restructure their business.

One of among my eBay seller friends, Tina explained me, I could see that my performance on eBay was improving, but the major problem is with tax as I feel that my profits were going straight to the Internal Revenue Service.

Mr. Bennet, another eBay seller has decided to liquidate his baby wear inventory as he is finding his electronic shop has performing pretty well. He would put his baby wear products on auction style to finish up the inventory. This will facilitate him analyzing his inventory. I've already decided to make the storage space more organised, and to examine and explore where I can generate maximum profit.

Diversify

Buyers are always active and browsing pages for shopping every moment, and you need to be ready to meet their demand, too. Enlisting your products on multiple channels (i.e. marketplaces), as well as setting up a Web Store is an added advantage for your business. You can get your potential buyers gather through various popular social networking sites. Further these social communities can be utilized for promoting upcoming products and brand awareness. Some of such popular social networking sites are Facebook, My Space, Twitter, Orkut and Hi5.

Professional and Personalised Customer Service

Customers are normal human beings and mostly driven by emotions. Though emotions and feelings do not run a business, yet it can help your business growing immensely. Prepare a list of previous customers as well as their emails and keep in touch with them in regular interval with personalized messages. As an online seller, you should have a system for regular communication with previous customers. The advantage of such a system improves your Customer Retention Average and as per experts Customer Retention costs lesser in comparison to New Customer Acquisition.

Give Coupons

Coupon sites are one of the best ways to promote your inventory. Such coupon sites have really been popular among buyers during past few years. These types of sites have become very popular over the past couple of years, and going to get more popular in such a gloomy global economy scenario. More and more buyers are ensuring for any such discount coupons before checking out on any store. So why not using such coupon sites to give some added exposure for your products!

I hope these valuable tips surely help you and your business grow substantially this year and make 2009, a successful business year for you.