How to Be a Successful Amazon or Shopify Seller
Today’s online marketplace is booming. For savvy online retailers, there is a lot of growth potential, especially through the e-commerce giants Amazon and Shopify.
Amazon is the world’s biggest online e-commerce company. It boasted an annual net revenue of $232.89 billion in 2018 alone – with about half of all sales on the marketplace coming from third-party sellers. There are over 800,000 businesses around the world selling with the Shopify platform. In 2018, total revenue for sellers exceeded $1 billion, which was a massive 59% increase over 2017.
So, what are the most successful Amazon and Shopify sellers doing right?
Whether your business is a third-party seller on Amazon’s mega-marketplace, you’re one of the many thriving companies that use Shopify to sell your products online, or you are taking advantage of both e-commerce resources, there are a few fundamentals to master that will help your business continue to grow its online sales.
Customer-Focused Marketing Is Ground Zero for Online Sellers
When you’re selling online, you’re competing with thousands of other online businesses within your niche. The only way to stand out is by creating a marketing strategy for your brand and continually analyzing its effectiveness to see how you can make your marketing even more impactful.
With a marketing platform, you can manage your marketing channels, automate a lot of your marketing tasks like email messaging and social posts, and you’ll have the data you need to analyze your campaigns.
With a website that’s well-optimized for search engines, consistent social media posts, and a strategic approach to content marketing, you'll build brand awareness, engage your target buyers, and generate leads.
To really get your sales numbers up and to get your online marketing efforts to go viral, it’s important to focus your marketing on what your customers want.
Brands like Glossier – an online beauty brand that has built an e-commerce empire out of bringing beauty and glamour down to earth for their customers – and Bulletproof 360 – one of the major emerging players in the food and drink supplement market – both do this well. Their marketing is heavy on helpful content, how-to videos, insights, and inspiration. As a result, they aren’t just selling beauty products and health products online. They’re selling a way of life. They’re connecting with their customers through email newsletters, social media posts, and blog posts, helping to seamlessly draw brand followers to their e-commerce pages to make a purchase -- and to keep coming back for more.
Use Content Marketing to Increase Your Online Sales
This customer-focused marketing approach pays off. Glossier made it on the Internet Retailer 2018 Top 1000 list – one of 27 beauty retailers, it had the highest growth rate at 275%. Bulletproof founder Dave Asprey built a multi-million dollar company in just a few years. Asprey has penned two bestselling biohacking books, hosted an award-winning podcast – Bulletproof Radio – opened a branded café in Santa Monica in 2015, and then the first Bulletproof Labs in 2017. The company just recently raised $40 million in equity and debt financing.
Your company may not have a state-of-the-art facility for your customers to try out new ways to supercharge the body and mind like Bulletproof, but to keep your online customers engaged, using marketing that solves your customers’ problems is the way to go. Online retailers that offer their customers true, ongoing value through blog posts, podcasts, videos, infographics, ebooks, webinars, and experiential events, are the ones who realize incredible sales growth.
Keep Those Sales Going with Great Customer Experience
Attracting a following and building your brand isn’t all there is to successful online selling. You’ll also need to ensure the order fulfillment and delivery process is flawless. Because of the sheer number of other sellers on the Amazon marketplace and online in general, if your business falls short with customer experience, you’ll lose customers just as quickly as you convert them.
This is why it’s so important to have the right tools in place to eliminate human error and to facilitate a seamless omnichannel experience for customers. Late deliveries, mistakes on an order, listing a product that’s not in stock, and complicated return policies can lead to negative reviews, poor customer retention, and wasted resources as you scramble to fix what went wrong.
Solutions like DEAR Inventory and Cin7 streamline the fulfillment and delivery process. DEAR Inventory makes it easy to manage inventory in different locations and automate product data across all your channels so that customers have a consistent experience with your brand. You can also create loyalty schemes for your buyers, helping to encourage future sales and customer loyalty, all through these all-in-one software solutions.
Manage Your Online Growth with Accounting Solutions
Of course, you need to keep track of your growing empire and make sure that your accounting systems can deal with your extra revenue. You need to integrate your fulfillment and delivery solutions with accounting software such as Xero. With the right accounting solution, you'll be able to match your purchase orders with your invoices and revenues while calculating crucial metrics like “cost of goods sold” in real time.
Xero is famous for giving you a real-world view of your financial situation in a graphical, easy-to-understand format. As a cloud-based solution, you can access it from anywhere, enabling you to run your business on the go. It’s very intuitive, and you’ll be able to reconcile your accounts quickly by swiftly importing and balancing all your bank transactions.
How to Simplify Success
One of the challenges of being a successful online Amazon or Shopify seller is managing your success. With e-commerce, growth can be fast. You need to be able to juggle all the different backend facets of your business as it grows, which leaves you with little time to actually run your business.
Instead of managing different software providers and trying to keep up with all the details of inventory and accounting, reach out to the team at Scrubbed. We offer a cost-effective, turnkey solution that takes care of everything from inventory management system support and accounting to tax preparation and financial reporting. With experience with the most popular cloud-based solutions like DEAR Inventory and Xero, we can do all the juggling for you.
Contact Scrubbed today and learn more about how we can help you grow your online sales.
About The Author
Sherill DeGuzman is an Accounting Manager at Scrubbed focused on eCommerce clients. She has extensive knowledge and expertise in accounting processes for manufacturing and eCommerce companies, such as accounts payable, accounts receivable, general ledger, payroll, forecasting, budgeting, financial reporting, cost accounting and more.