Commerce Essentials

With Limited Resources, a Small Business Must Prioritize


You are a small business with limited resources. In addition, with the holidays quickly creeping up on you, you have limited time. WHERE DO I PUT MOST OF MY EFFORTS? How can I best maximize my profits during what should be your most highly profitable season? Time to prioritize!

One of the first rules for a successful e-commerce marketing strategy over the long haul is to maintain transparency with your clients. A key way merchants acquire and retain dedicated customers is through reliability. Sure, we could pressure or trick our customers into making a purchase using deceptive marketing practices with promises which can not be kept and confusing or complicated funnels and calls to action.  While these tactics may be effective in the short term, they certainly are not the best way to establish trust and ultimately, a profitable relationship with loyal customer.  We want our customers to stick around. Transients are just that: transient.

Everybody knows the 80/20 rule of commerce: loyal customers total 20% of your customer base YET, that 20% drives 80% of your total revenue. According to FiveStar, this holds true for e commerce as well.

For more information, check out this informative infographic from Five Stars.

 

 


This entry was posted in Online Shop Owners.
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