12 “What-Can-Happens” When You Launch Your Own ecommerce Website
Ford Stokes
President I Chief Financial Advisor I Forbes Finance Council Member and Contributor I Author I Nationally-Syndicated “Retirement Results” Radio Host on JFRN
Many wholesale product companies struggle for product placement with retailers and self-limit their channels for distribution. Wholesale producers work hard not to offend their current buyers by selling direct to retail customers, but I recommend placing the long-term financial health ahead of your retail partners’ demands.
The best way to immediately spike product sales and double your gross profit on every item your company sells is to build and launch your own e-commerce website.
Here’s what can happen when you launch your own direct-to-consumer e-commerce website.
- You immediately bring in a much higher gross profit margin on each product you sell by eliminating the middle man retailer with every transaction.
- You will begin to learn more about your retail customer.
- You can build your very own retail customer list and engage with those customers consistently to generate repeat orders.
- You will build long-term leverage over your current retail buyers.
- You can provide greater insight into what product marketing, merchandising and sales strategies work to generate sales of your products.
- You can really set the Manufacturer’s Suggested Retail Price on all of your products by remaining firm with pricing on your ecommerce website.
- You can produce exclusive products for your retailers only to build partnerships.
- You can gather information quickly from engaged customers and cut out any focus group expenditures.
- You can unload excess inventory quickly with limited time offer sales at a higher profit margin than if you were forced to unload your products through your retail customers.
- You will immediately improve your company’s digital footprint through the growth and improved functionality of your website.
- You will assuredly improve the photos, video, packaging and even return rates for your products as you receive feedback from customers.
- You will be able to recruit higher-level talent as sharp candidates will likely want to work with a company that has more control over their financial success.
If you are inspired to build and launch your own e-commerce website, feel free to send me an email at [email protected] or give us a call at (404) 775-0194. We work with many of clients who have generated more sales and more profit with their own e-commerce websites. We look forward to helping you launch a smart and effective e-commerce website.