How Going Multichannel Can Boost Your Sales By 1000%
- Written by Matt Warren
We currently live in a world populated by multiple sales channels. Your customers are everywhere and you probably want to be too.. They’re on eBay, they’re on Etsy, they’re on Amazon.
Selling on more than one online sales channel is a great way of increasing your sales. People are using a range of online retailers to buy their goods, and if you have your products listed on those sites, that means your business has a much better potential for increased sales.
In most cases, you will want to maintain your own existing ecommerce site, but having your products on other ecommerce sites, like Amazon and eBay, gives those products (and your business) a great deal more exposure.
There are loads of different sales channels are out there that will work with retailers and sellers, and you should consider selling through them if you can. They can give your customers a much better perception of your business, help to increase your sales, and provide you with more data to help you with your future sales and marketing activity.
Let’s say you are a clothing retailer and have a store on Shopify and sell 50 items a day. If you start selling your clothes on one other platform – Amazon, let’s say – and you sell the same amount of stock that you sell on your Shopify store – 50 items a day – you have increased your sales by 100%.
Now let’s say you introduce a 3rd channel – eBay. If you sell the same amount again on here, you have increased your sales by 200%.Take advantage of the most popular stores to get the widest possible reach and the best increase in sales: Amazon, eBay, Play, Google Shopping, Sears, Alibaba, Jet, Etsy, Not on the High Street.
That’s 10 more channels. Now, if you sell the same amount on each channel, you’ve increased your sales by 1000%. It really is that simple.
What to be aware off
While this sounds simple, it is not as easy as you may think. That’s because as the number of channels you sell accross grows along with the number of orders you are having to fulful, so does the number of challenges you and your warehouse team will face.
You will find out that it gets hard to keep track of your inventory levels accross channels, which could lead to overselling. And overselling is a very easy way to lose customers. Similalry, if you warehouse operation is not set up for the increase in orders it will lead to mispicks and late deliveries. Two great ways of getting bad reviews.
That’s why you should invest in inventory management software . Perpetual inventory management software will ensure that your stock is synced in real time, and even print off your shipping labels for you. Using a tool like Veeqo could help you increase your sales on one channel alone by making your inventory more organised, and help you reach that 1000% increase.
Do you need inventory management software for your business? Try Veeqo.com!