Friday, March 19, 2010

How To Dramatically Change Your Revenue With An Automated eCommerce Platform

No matter what your product or service is or how great it is, you won’t achieve measurable financial success unless you have a platform to sell from. The more you sell, the more money you make. Seems simple enough but developing a productive sales and ecommerce platform that works to attract customers and sell products 24/7 is often a great challenge for people in business. For the past few years I’ve been helping entrepreneurs develop their own successful selling platform. Here are some solutions I’ve used that are scalable which means you can start this process even before you have a product or service to sell.

1. Install a multipurpose eCommerce-ready Shopping Cart. My revenue changed dramatically the day I automated my selling process. If you’re manually taking orders or collecting payments, this will have an effect on your ability to grow. I recommend implementing more automation and switching to a Shopping Cart such as http://www.prosperitycart.com . This is my cost effective private label of 1ShoppingCart and I’ve been using it in multiple businesses for many years. This allows you to catalog and sell your products, services and digital products; integrate all your payment methods; and automate a follow-up sequence. There are multiple service options available which means it grows as your business needs grow.

2. Install a merchant account. You could be losing out on new business if you don’t accept credit cards these days. People will take their business elsewhere if the buying process is too tedious. The easiest payment gateway to use is PayPal.com but it comes with higher transaction fees and lots of restrictions (they can hold/suspend your transactions at anytime and business comes to a halt if that happens). Also, your business may not be thought of as highly professional if you’re only using PayPal as a payment gateway. I recommend obtaining a professional merchant account from a reputable company or banking institution. Make sure you compare transaction fees and discount fees, which is a percentage of each transaction, to get the best deal. Some of the lowest fees and fastest money turnarounds I have ever seen are with wholesale merchant accounts that are backed by reputable banks. My husband Michael Murdock is a resource for those accounts. Feel free to see what a difference this type of account would have in your business by contacting him at ceo@docmurdock.com . His clients are now saving upwards of $5000-$6000 in fees each year.

3. Place email opt-in areas everywhere you can. Think of your Shopping Cart as a bucket that can collect names for you 24/7. You want to attach that bucket anyplace where people visit you. That includes your website, product landing pages, blogs, social media profiles, email signatures, etc. The more names you collect, the more people will have the opportunity to get to know you. Ultimately, you’ll be offering your product solutions to people you now have a pre-existing relationship with. The “gold is in the list” as internet marketers will tell you.

4. Plan a follow-up email marketing campaign. The strength of your relationship with your subscriber list will be in how well you follow up with this group. This includes thank you messages, product offerings, invitations to try new things or attend virtual events, newsletters, surveys and a variety of other regularly scheduled communications. This can all be written and loaded into the system in advance when using an automated shopping cart system. With ProsperityCart.com, our communications are planned up to 2 years in advance and passively work for us 24/7 even while on vacation.

5. Create products or offers of different price points.
It’s easy to inspire someone to try you out when you’re offering them something for free, not to mention the Goodwill it creates. Following the tried and true marketing funnel formula, you may want to offer something of a lower price point for the next level of commitment and so on. We’re all comfortable buying, and continuing to buy, from people we know and trust so you want to create that scenario in your business whenever possible.

To discuss the creation of a robust and profitable eCommerce platform in your business, email simone@passion2prosperity.com for a private consultation.