5 eCommerce Trends for 2022

Posted on by Amanda Levine

It’s hard to believe it, but 2022 is here – and halfway through at that! That means it’s time to start thinking about the eCommerce trends that will dominate the next few years. Here are five eCommerce trends for 2022 that are likely here to stay.

Top eCommerce trends for 2022

As the eCommerce landscape continues to evolve, businesses need to stay ahead of the curve to remain competitive. Here are a few eCommerce trends that are trending for 2022.

Chatbots to improve shopping experience

Chatbots are artificial intelligence (AI)-powered software that can mimic human conversation. They’re already being used by some businesses as a way to provide customer service, and they’re expected to become even more prevalent in the next few years. businesses can use chatbots to handle simple tasks like answering FAQs or providing product recommendations.

Chatbots can provide a more personalized and interactive shopping experience for customers. By understanding a customer’s preferences and needs, chatbots can provide recommendations and customized product suggestions. In addition, they can also answer questions and resolve issues in real-time. 

Chatbots aren’t the only artificially-powered trends that are expected to take hold in 2022 and beyond. Augmented reality (AR) is expected to become more widely used in eCommerce, allowing customers to “try on” products virtually before making a purchase. This could be particularly helpful for fashion businesses, but it could also be used for things like furniture and home décor.

Growing adoption of voice search

Voice search is expected to become more popular in the coming years as people look for ways to simplify their lives. With voice search, customers can easily find what they’re looking for without having to type out keywords or navigate through menus. 

Sustainability 

As consumers become more conscious about the environment, sustainability is expected to become a key factor in purchase decisions. Businesses that focus on sustainability will be better positioned to win over eco-conscious shoppers. 

Optimized mobile shopping experience

The growth of mobile commerce has been one of the most talked-about trends in recent years, and it is only set to continue. Customers are becoming more comfortable making purchases on their mobile devices, and businesses need to ensure that their eCommerce platforms are optimized for mobile. In particular, responsive design, fast loading times, and easy navigation will be key elements of successful mobile commerce sites in the future.

With more people shopping on their smartphones, it’s essential for businesses to provide an optimized mobile shopping experience. This includes a user-friendly interface, fast loading times, and easy checkout process, to name a few key components. 

Social commerce

In recent years, social media platforms have increasingly been used as a sales channel, with customers using them to discover new products and make purchase decisions. This trend is only set to continue, with more businesses using social media to sell their products and services. In particular, Instagram and Snapchat are likely to be key platforms for social commerce in the coming years.

Personalization

With the increasing availability of data, businesses will be able to personalize the shopping experience for each individual customer like never before. This could include everything from personalized product recommendations to custom-tailored emails and ads.

Customers increasingly expect businesses to tailor their products and services to their individual needs and preferences. As a result, personalization is set to be a key trend in eCommerce in the coming years. Businesses will need to use data such as customer purchase history and demographics to personalize their offering and create a unique customer experience.

Biggest challenges eCommerce businesses face 

One of the biggest challenges that eCommerce businesses face is building trust with potential customers. eCommerce businesses must prioritize cybersecurity for the protection of customers and their reputation. A breach of security can not only risk customer information but it can be costly too. As a consumer if a website appears unsafe or illegitimate in any way, they may immediately lose confidence and make their purchase elsewhere. 

Another challenge that eCommerce businesses face is competition. With so many businesses selling similar products online, it can be hard to stand out from the crowd. Finding unique selling points and marketing strategies is essential for attracting and keeping customers. Making information about returns, quality of product, and other encouraging selling points easily accessible can help keep customers on your site. Customers can easily compare products, prices, shipping, and company policies online, so make sure yours are competitive and attractive to customers. 

Next,  eCommerce businesses must excel at customer service. This is easier said than done with no human interaction. You must find ways to engage the customer and make them feel important without human interaction. You’ll also need to provide them with the help and support they need online. Chatbots can be helpful, but personalize them as much as possible. With an obvious computer interaction customers can become more irritated and quickly look for a better online shopping experience. 

Finally, fulfillment is always a struggle. With such a huge marketplace, you may be overwhelmed with more orders than you’re prepared for. Therefore, it’s important for eCommerce companies to stock plenty of inventory. In addition, they should also have efficient inventory tracking methods in place. Lastly, they’ll need to find a way to deliver orders as quickly and efficiently as possible. Be sure to invest plenty of time into setting up inventory systems before launching.

Will eCommerce continue to grow in 2022?

The eCommerce industry has seen unprecedented growth in recent years, thanks to a combination of factors such as the advancement of technology and the commitment of companies. With some of the best shopping processes being delivered online, customers are taking advantage of eCommerce shopping. This trend looks set to continue in 2022, as more and more consumers embrace the convenience and flexibility of online shopping. 

In addition, the ongoing pandemic is likely to accelerate the shift to eCommerce, as people increasingly turn to the internet for their shopping needs. With all of these factors considered, it is safe to say that e-commerce should continue to grow at a healthy pace in 2022.

How Kickfurther can help

In order to stay ahead of the curve and meet ecommerce trends 2022, consider using Kickfurther fund inventory for your eCommerce business. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. 

So who is Kickfurther?

Kickfurther is the world’s first online inventory funding platform that enables companies to access funds that they are unable to acquire through traditional sources. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. Compared to traditional lending methods such as bank loans, Kickfurther is much more eCommerce business friendly. As we mentioned earlier, stocking plenty of inventory will be critical to survive in the eCommerce marketplace. However, inventory can deplete cash flow. Inventory can also be expensive to hold. For these reasons and more, using Kickfurther to secure working capital for inventory can take your business to the next level. All the while, satisfying customers along the way. 

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

5 Ways to Improve your Cash Flow

Posted on by Amanda Levine

Cash flow is at the core of every business. If it’s struggling in any way it’s likely to impact performance in some way. Businesses are always wondering how to improve cash flow. For retailers and wholesalers, inventory is one of the largest hang ups for healthy cash flow. Therefore, inventory financing is one way to improve cash flow. 

Why is cash flow important for small businesses?

Cash flow is the lifeblood of any small business. It’s the money that comes in and out of a business on a daily basis, and it can make or break a company. A business needs cash to pay its bills, expand its operations, and take advantage of opportunities as they arise. 

Without a healthy cash flow, a business will quickly find itself in financial trouble. That is why it is so important for small businesses to carefully manage their cash flow. By tracking where the money is coming from and where it is going, businesses can make sure they always have enough cash on hand to meet their needs. With proper management, a small business can ensure its long-term financial health and stability.

How proper management of cash flow impacts your future business 

Many small businesses fail within the first few years due to a lack of proper management of their finances. 

One of the most important aspects of financial management is cash flow. Cash flow is the amount of money that is coming in and going out of your business. In order to maintain a healthy cash flow, it’s essential to keep track of all incoming and outgoing funds, as well as to have a plan for what to do if there is a shortage of cash. You must know where money is going. Proper management of cash flow can help you avoid financial problems in the future and ensure that your business is able to thrive.

Understanding how to improve cash flow is essential.

Top ways to improve your cash flow

Maintaining a healthy cash flow is essential for any business. Here are some top tips to help improve your cash flow.

Anticipate future needs

Review your pricing strategy. Make sure you are charging enough to cover your costs and generate a profit. Stay on top of invoicing. Send invoices out as soon as products or services are delivered, and follow up on any outstanding payments promptly. 

Ensure you have enough inventory and be prepared

Take inventory of your current stock and assess how much you will need to meet customer demand. Next, create a production schedule to ensure you are consistently producing goods. Finally, create a system for tracking inventory levels and reordering stock as needed.

Improve accounts receivables

 A/R is an important part of a company’s cash flow, and it’s important to keep it under control to avoid problems down the road. Make sure you’re invoicing your customers promptly. The sooner you send out an invoice, the sooner you’ll get paid. Follow up with customers who haven’t paid on time. A simple phone call or email can often prompt them to take action. Finally, offer incentives for early payment, such as discounts or extended payment terms. 

Utilize inventory financing

By using inventory financing, you can borrow money based on the value of your inventory, which can help you stay on top of your cash flow. This way, you can keep your business running smoothly without worrying about sudden unexpected expenses. In addition, inventory financing can help you take advantage of bulk discounts or seasonal sales.

Consider renegotiation of service contracts

Negotiate payment terms with suppliers. Where possible, extend payment terms to give yourself more time to generate revenue.

Consider leasing equipment vs. buying

For businesses, having the latest and greatest equipment is important to maintain a competitive edge. However, equipment can be expensive and it’s not always possible to stay on top of the latest trends without breaking the bank. 

Leasing equipment is a great way to get the latest technology without tying up your cash flow. When you lease equipment, you make monthly payments instead of paying the full purchase price up front. This can free up money that can be used for other expenses, such as inventory or marketing.

Re-structure your payment operations

 With the right tools and processes in place, you can streamline your payment operations and stay on top of your cash flow. Here are a few tips for re-structuring your payment operations:

First, make sure you have a clear understanding of your company’s financial picture. Know your monthly revenue and expenses, so you can always have a handle on your cash flow. Second, put together a team of trusted individuals to manage your payment operations. This team should include an accountant or bookkeeper, as well as someone with experience in accounts receivable and accounts payable. Finally, implement strong internal controls to safeguard against errors and fraud.

Keep close monitoring of where your money is being spent

Keep a close eye on expenses. Review your expenses regularly to ensure you are not overspending.

Utilize technology

 By using apps and software to track your income and expenses, you can get a clear picture of your financial situation at any given time. This information can be incredibly valuable in terms of making decisions about where to allocate your resources. Additionally, online banking and accounting tools can make it easier and faster to manage your finances, freeing up more time to focus on running your business. 

Consider looking into financing options

Many businesses choose to finance their operations with a line of credit or a loan. This can give you the flexibility to make large purchases when necessary and to smooth out your cash flow when revenue is down. However, it’s  important to remember that loans need to be repaid, with interest. As a result, you will need to carefully consider whether taking out a loan is the right decision for your business.

If you do decide to pursue financing, there are a number of options available. You may need to think outside the box to find a financing option that’s affordable and works for your business. While you may be able to obtain financing through a traditional bank or credit union, that may not be the best option.

How Kickfurther can help

Inventory financing can help improve cash flow substantially. However, you will need to make sure that inventory financing is affordable and will benefit your business in the long-term, not just the short-term. One of the biggest challenges of inventory financing are the requirements and the cost. Entrepreneur Sean De Clercq was once in your shoes; hopelessly searching for an affordable way to grow his company. In 2014, he founded Kickfurther. In true entrepreneur fashion, he found a solution for a major problem business owners are facing. He created a company that helps businesses get affordable inventory financing with less obstacles. Kickfurther is the world’s first online inventory funding platform that enables companies to access funds that they are unable to acquire through traditional sources. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. 

Grow your business with Kickfurther

With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. It gets better though – you don’t pay until you start making sales. You’ll truly have the opportunity to create a payment schedule that works for your business. You’ll outline expected sales periods to create customized payment terms. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. Kickfurther can help supply your business with the working capital it needs to flourish into the company you’ve been dreaming of.

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

 

3 Steps To Save Time & Money While Scaling, From Startup To Enterprise

Posted on by Amanda Levine

For scaling brands, every additional dollar of profit counts. Maximizing available cash to reinvest into your company often makes the difference between a successful campaign and one that falls short. While there are common issues companies face during periods of rapid growth, you can avoid them with the right tools and systems in place.

What Are Common Issues While Scaling?

“Efficiencies of scale.”

In e-commerce, this often reads as an oxymoron.

Have you previously struggled with inefficiencies while trying to grow? Costing you time, money, and frustration?

Well, you are not alone. 

But it doesn’t have to be that way.

We get it… rising ad costs, the cost of financing new products, cash flow squeezes, software that doesn’t really solve your problems. 

These are all common complaints voiced by scaling brands, and many great companies are built specifically to address these problems.

Today, we’re here to talk about another major barrier to scaling – and how you can solve it

 

Fulfillment.

First, let’s review the common – and previously just accepted – fulfillment problems met by scaling companies:

  • Supply Shortages
  • Increased Shipping Expenses
  • Fulfillment Bottlenecks

Does any of this sound familiar?

Left unaddressed, these issues can cripple the operations – and future growth – of ecommerce brands.

In contrast, if your company takes the necessary steps to establish good fulfillment systems, these problems can be prevented. 

In fact, a fulfillment process working for you is a valuable asset that generates new opportunities for growth (particularly when other companies are forced to pause operations due to poor planning).

So, what can you do today to make sure your company is primed to scale?

 

Automate Your Inventory Alerts

It is critical for scaling brands to hold sufficient inventory to meet rising consumer demand, and also know when to replenish supply as sales ramp up. 

Otherwise, the dreaded “Out Of Stock” notification can put an abrupt end to your growth campaigns – often for a long period of time – leading to:

  • Lost potential sales
  • Misallocated ad costs
  • And damaged customer experiences.

Building a system to keep your warehouses stocked and stay in front of low inventory alerts is an important step for your brand to take before you start to scale. 

Previously, this was achieved through meticulous (and manual) tracking of inventory levels. Which we know is time consuming, prone to human error, and costly when mistakes are made.

Thankfully, times change. Your operations can now run uninterrupted with automated inventory alerts that help you:

  • Track Inventory Levels
  • Set Restock Thresholds
  • Reconcile Across Multiple Storefronts and Warehouses

The hurdle (and headache) caused by varying inventory levels and manual feedback delays is removed with inventory management software. (link entire sentence to https://www.soap-bx.com/features/pricing)

With your back-office business operations running smoothly, you will gain more time to focus on your product, more resources to allocate at scale, and experience less down time during key periods of growth.

Now that you’ve solved a common inventory issue prior to scaling, the next step is to refine your shipping solutions so you can extract the most margin from the increased sales coming your way.

 

Optimize Your Shipping Costs

With dozens of shipping carriers and rates to sort through, it’s difficult and time-consuming to manually find the most cost-effective option. 

At scale, this becomes nearly impossible without the support of additional staff or a logistics partner – which might not be part of your immediate plan.

As a result, scaling brands are prone to miss out on cost-savings from the best shipping rates or spend more than you would like to access them.

With the introduction of shipping software that automatically shops and selects the most cost-effective carrier for every order, the previous tradeoff is now completely avoidable. (link entire sentence to https://www.soap-bx.com/features/pricing)

Solving this problem helps you extract more profit from every order and spend less time shopping through catalogs of rates, which increases your ability to reinvest in your brand and further accelerate growth.

Great. 

You’ve already addressed inventory management and shipping costs, which were stealing valuable time and money from your business. 

The final step – to remove barriers to scale – is solving for bottlenecks in your fulfillment process.

 

Streamline Your Fulfillment Process

Often overlooked, a highly tuned and seamless fulfillment process can leave a lasting positive impression on your customers. It is also a necessity in order to scale without interruption.

In contrast, a poorly (or inefficiently) managed fulfillment process will damage brand reputation and place a limit on the level your brand can scale to.

Manual solutions are no longer suitable to address the complexities of fulfillment processes. 

With 1) multiple storefronts and marketplaces to keep track of, 2) multiple warehouses to fulfill from, 3) multiple packaging sizes to select from, and 4) multiple pick list, pack list, and labels to print…

Well, the complexities – they multiply.

This rings true for both startup and enterprise brands.

However, combining together manual oversight with best-in-class fulfillment software takes the complexities out of your fulfillment process. (link entire sentence to https://www.soap-bx.com/features/pricing) 

You will stop losing hours every week solving logistics problems, reduce the potential for human error, and find hidden cost savings using fulfillment software that enables you to:

  • Add and sync your storefronts and marketplaces for a single-view dashboard of your e-commerce business
  • View, split, and fulfill orders from all your storefronts, marketplaces and warehouse locations
  • Automatically recommend and select the best shipping packaging for your orders based on availability
  • Print your pick list, pack list and purchase labels from one place

The outcome is a fulfillment process designed to help your brand grow (not prevent it)… and make you shudder at the thought of returning to old systems.

With inventory, shipping, and fulfillment barriers removed, your brand will be well positioned to scale efficiently and rapidly.

 

How Soapbox Can Help You Scale Efficiently

Whether your company is just getting started, prepping for growth, or looking to improve upon current systems, optimizing your fulfillment process is an important step to operate at scale.

While legacy software offers solutions to separate steps of the fulfillment process, they fail to provide a comprehensive tool that connects all elements of fulfillment under a single platform.

Likewise, companies can function using manual systems, but they fall short on time commitment required, fulfillment accuracy, and inflated cost – all important factors to optimize for high-performing brands!

We created our fulfillment software tool to address the shortcomings of manual systems and outdated software, so that brands are free to scale without the hassle of previously accepted “growing pains”.

Soapbox is an e-commerce command center for your fulfillment operations. 

Our solution covers your end-to-end needs, from storefront listing and order management, to inventory reconciliation, warehouse, and shipping management. 

The software is designed for, and as, a best-practice fulfillment workflow to get your products to your customers easier, quicker, and more cost efficient.

By removing common barriers to growth – and automating the areas most prone to human error or inefficiency – your company can leverage our software to scale:

  • Quicker
  • Efficiently
  • Without interruption
  • And across multiple platforms simultaneously

Visit our website (link to https://www.soap-bx.com/features/pricing) to learn more about our software and see how easy your shipping and fulfillment can be.

This is a guest post from our partner Soapbox. Soapbox seeks to give business owners full control over all aspects of fulfillment, giving sellers time to focus on the more enjoyable parts of running a business.

How to sell Wholesale to Retailers

Posted on by Amanda Levine

If you’re a seller who is looking to get your product in front of more eyes, selling wholesale to retailers is a great way to do it. By working with retailers, you can reach a large audience quickly and easily. 

In this post, we’ll walk you through the basics of selling wholesale to retailers, so that you can get started on your own journey to success.

Do wholesalers sell to retailers?

Wholesalers are companies that sell products to other businesses, typically in large quantities at a reduced price. Retailers are businesses that sell products to customers, usually in small quantities and at a higher price. In most cases, wholesalers will not sell directly to retailers.

 Instead, they will work with distributors, who act as middlemen between wholesalers and retailers. 

Distributors typically buy products from multiple wholesalers and then sell them to retailers. This allows retailers to purchase the products they need without having to deal directly with a large number of wholesalers. 

In some cases, however, a wholesaler may sell directly to a retailer, depending on the size of the order and the type of product involved.

What is the process of selling wholesale to retailers?

The process of selling wholesale to retailers is relatively simple. 

First, the manufacturer produces the product and ships it to the retailer. The retailer then sells the product to customers at a marked-up price. In order for a manufacturer to sell its products wholesale, it must have a business license and a tax ID number. Additionally, the manufacturer must create an account with the retailer. Once the account is created, the manufacturer can start listing their products for sale. 

Retailers typically require that manufacturers offer a minimum discount off of the retail price. For example, a manufacturer may need to offer a 10% discount in order to sell their products wholesale. In some cases, the retailer may also require that the manufacturer provide exclusive rights to sell their products. 

This means that the manufacturer cannot sell their products to other retailers or directly to consumers. 

Benefits of selling wholesale to retailers

The advantage of selling wholesale is that it allows manufacturers to reach a larger customer base than they would be able to if they were selling only through brick-and-mortar stores or online retailers. Another benefit of selling wholesale is that it enables manufacturers to take advantage of economies of scale. 

When selling products in large quantities, manufacturers can often negotiate discounts from suppliers, which can help increase their profit margins. 

When you sell wholesale to retailers, you are guaranteed to get a higher price per unit than if you were to sell directly to consumers. This is because retailers are interested in making a profit on the products they sell, so they are willing to pay more for goods that will allow them to do so. 

Finally, selling wholesale can help to build relationships with other businesses in your industry. These relationships can be beneficial in many ways, including gaining access to new markets and networking opportunities.

Tips to selling wholesale to retailers

While there are many nuances to selling wholesale to retailers, there are a few key things that all sellers should keep in mind. We’ll discuss some tips to help you get started. 

Pricing strategy

When selling wholesale to retailers, pricing is one of the most important considerations. You need to strike a balance between making a profit and being competitive. Research your competition. Find out what other businesses are charging for similar products. This will give you a good starting point for setting your own prices.

Keep your margins reasonable. You don’t want to price yourself out of the market, but you also need to make sure you’re making a profit. A good rule of thumb is to aim for a 50% margin. Offer bulk discounts. Many retailers are willing to pay more for products if they can buy them in larger quantities. Offering discounts for bulk purchases can help you increase your profits without jeopardizing your competitive position.

Product sourcing

You’ll need to find a reliable source for your products. This can be difficult, as you’ll need to find a supplier that can provide high-quality goods at a reasonable price. 

Establish your policies

Before you start selling wholesale, it’s important to have a clear understanding of your policies. How much of a discount will you offer? What are your minimum order quantities? Are there any terms and conditions that retailers need to be aware of? Answering these questions ahead of time will help to prevent misunderstandings down the road. It’s also a good idea to put your policies in writing so that both you and the retailer are on the same page.

Determine what shipping and handling costs will be

Shipping and handling costs can be a make-or-break factor when selling wholesale to retailers. If your shipping costs are too high, retailers will likely look elsewhere for suppliers. On the other hand, if your shipping costs are too low, you may find yourself in the red after fulfilling an order. The best way to determine shipping and handling costs is to calculate the average cost of shipping per unit, including both materials and labor. 

Once you have this figure, add a reasonable markup to cover overhead expenses and you will have a good starting point for negotiations with potential customers. Remember, the goal is to find a happy medium that meets the needs of both parties.

Create a website to sell wholesale to retailers

You need to create a website that clearly outlines your terms and conditions for wholesale orders. This should include information on minimum order quantities, pricing, shipping, and returns. You also need to make sure that your website is easy to navigate and includes clear product photos and descriptions. You may need to promote your website through online advertising and social media.

Approach retailers to sell your products

Make sure you approach the right retailers. Consider the type of product you’re selling and the type of store that would be most likely to sell it. Then, do your research and make sure you contact the decision-maker at the store (this is often the buyer or store manager). Be prepared to answer any questions they have about your product and why it would be a good fit for their store.

Maintain relationship with retailers / long term relationship building

It’s important to build and maintain relationships with retailers. This is a long-term play – you want to establish yourself as a reliable supplier that they can count on for quality products. That way, when they’re looking to place an order, they’ll think of you first. 

Other considerations… 

When selling wholesale to retailers, there are a few things to keep in mind. First, it’s important to have a good relationship with your customers. Retailers are busy and they need to be able to rely on you to provide them with high-quality products and good customer service. Finally, you need to be flexible. Retailers’ needs can change on a dime, so you need to be able to adapt your business in order to stay afloat. 

How Kickfurther Can Help

Wholesalers everywhere know that one of the hardest parts of the job is making sure you have enough inventory on-hand to meet the demands of your retail customers. It’s a delicate balancing act – order too much product and you’re stuck with costly overhead and inventory carrying charges, but order too little and you risk losing sales (and maybe even customers) to the competition. 

Fortunately, Kickfurther can help. We provide a way for you to get funding for product inventory quickly for a price you can afford. Kickfurther is the world’s first online inventory financing platform that enables companies to access funds that they are unable to acquire through traditional sources. With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. It gets better though – you don’t pay until you start making sales. You’ll truly have the opportunity to create a payment schedule that works for your business. You’ll outline expected sales periods to create customized payment terms. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. If your brand sells physical products or non-perishable consumables and has revenue between $150k to $15mm over the last 12 months, you are a prime Kickfurther candidate. 

Conclusion

Wholesale selling can be a great way to move your products and increase profits, but it takes some effort to get started. These tips will help you navigate the process and make connections with retailers that can sell your products for you.

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

How to Successfully Launch a Product Online

Posted on by Amanda Levine

If you’re getting ready to launch a new product online, you’re probably overwhelmed with ideas. Wondering what you should do and what you shouldn’t do can keep you up at night. Take a few minutes to read through the information below and you’ll be on the path to success for your new product launch.

What is a product launch?

A product launch is the strategic process of introducing a new product to the general public. Before the release of the product you’ll want to create plenty of buzz to hype consumers. Every step of a product launch requires strategic planning and careful though. Oh and plenty of funding too. 

Benefits of launching a product online

There are several benefits of launching a product online. First, you can reach consumers all over the world. Second, you can keep costs down by not having a physical storefront or fewer locations.

Through the use of online distribution channels like digital ads, social media, and email blasts, it’s easier than ever before to increase brand awareness and build anticipation for a launch.

How do I launch a product online?

A successful product launch is much more than just setting a launch date and selling a product.

The framework of a successful online product launch includes market research, a digital marketing strategy, product hype, customer engagement, and a post-launch strategy.

To launch a product online you will need to set up a portfolio of creative assets, social media accounts, an email subscriber list, and a website with ordering capabilities. You will also need to define and know how to reach your target audience. Platforms such as Instagram, Google, Facebook, and more you can reach your target audience and deliver your message.

Tips for a successful product launch

It’s crucial that businesses know how to get the most out of their product launch while avoiding the common pitfalls that can occur.

During every stage of the product launch process, there are a few tips to keep in mind:

  • Develop a strategy: A successful product launch strategy should include market research, product development, inventory management, marketing, and customer engagement. We’ll cover each of these points in more depth below.
  • Know your competition: What sets your brand apart? Identify your product’s unique selling point(s) and know what makes you different. This information should inform both your overall product launch strategy and your marketing plan.
  • Know your target audience: Who is your target customer? What are their needs? How can you reach them? Knowing the answers to these questions allows brands to come up with products that best meet the needs of their target audience and then know how to market to them. Understanding your target audience is critical for your ability to present relevant and engaging content to your customer base.
  • Create a marketing plan: Once you know your target audience and your brand’s biggest competitors, you can utilize this information to create a detailed marketing plan for your new product. Although the best plans include both digital and print advertising, don’t be afraid to think outside the box, with traditional means of marketing giving way to digital campaigns, product tours, and other innovative ways of engaging consumers. Keep your target customer persona(s) front and center as you create a marketing plan.
  • Stock your inventory to be prepared: Inventory management is a common roadblock for many up-and-coming businesses. Make sure that you have enough product in stock to keep up with the possible consumer demand. Since anticipating how much product to have on hand can be extremely difficult with a new product launch, now is the perfect time to consider the use of inventory financing to fund upfront inventory purchases without the need for purchase orders or invoices. With inventory funding through a company like Kickfurther, your balance is paid back when the sales revenue comes in.
  • Build hype and anticipation for your product: As part of your marketing strategy, begin to build hype for your product launch several weeks or months in advance. This can be done through email drip campaigns, social media posts, and teaser videos that give your audience a sneak peak of your new product. In addition, take advantage of brand partnerships and social media influencers. The more you can get your followers excited about your product, the more sales you can expect on release day.
  • Utilize social media: The right social media strategy builds engagement and increases brand loyalty. If you don’t feel confident enough to do it yourself, there are a variety of agencies and contractors with expertise in social media who can help you plan, create, schedule, and post all of your social media content. Make sure that your brand has an active presence everywhere that your target audience would be online. Most businesses today maintain accounts across the following social media platforms: Facebook, TikTok, Instagram, Twitter, Snapchat, YouTube, and LinkedIn.
  • Build your email list: In addition to posting on social media, now is the time to engage your audience with e-mail marketing. Make sure that you are collecting customer emails on your website, in your sales funnel, and even through social media. Once you have an email list, don’t forget to engage them. An email distribution schedule should be a part of any new product launch strategy. Boost email sign-ups by giving subscribers early access to new product releases and exclusive coupon codes.
  • Create post launch engagement: The work doesn’t stop after your product has launched. Now is the time to go hard with customer engagement and content distribution. Consider implementing digital marketing campaigns that involve social media influencers or call for user-submitted content. For example, a clothing brand might ask their followers to post photos of themselves wearing the latest shoe release.

How Kickfurther Can Help

Launching a product can be costly. It can also strain cash flow. As you shell out money for advertising, there may not be much money coming in – that is until after the product launch. To ensure you have plenty of funds for operations and marketing as well as plenty of inventory on hand, you may need inventory funding. Kickfurther is the world’s first online inventory financing platform that enables companies to access funds that they are unable to acquire through traditional sources. With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. It gets better though – you don’t pay until you start making sales. You’ll truly have the opportunity to create a payment schedule that works for your business. You’ll outline expected sales periods to create customized payment terms. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. If your brand sells physical products or non-perishable consumables and has revenue between $150k to $15mm over the last 12 months, you are a prime Kickfurther candidate. 

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

5 Ways to Increase your Amazon Sales

Posted on by Amanda Levine

As an online business owner, you know that it’s crucial to diversify your sales channels. Amazon is one of the most popular ecommerce platforms in the world, so if you’re not selling on Amazon, you may be missing out on a lot of potential sales. 

But how can you increase your Amazon sales? Here are five tips that can help you increase Amazon sales. 

5 Tips to Increase Your Amazon Sales

Here are five tips that will help you boost your Amazon sales. 

Optimize your title and product description

As an Amazon seller, you know that the written portion of your listing is just as important as the quality of your product photos. After all, your title and product description are what convince potential customers to click “Add to Cart.” If you’re looking for ways to increase your Amazon sales, start with optimizing your title and product description.

Your title should be attention-grabbing and keyword-rich, so that it appears near the top of search results. And your product description should do more than just list features — it should also tell a story that speaks to the needs of your target customer. By crafting persuasive copy for your Amazon listing, you can give yourself a big boost in the search rankings and convert more browsers into buyers.

Use relevant keywords throughout your description so that potential customers can easily find your product when they search on Amazon. In addition, you’ll want to make sure that your descriptions are clear, concise, and easy to read. 

Use bullet points or short sentences to get your point across, and avoid using jargon or technical terms. You should also include important information such as size, weight, color, and material in your description. Finally, be sure to proofread your work before you hit publish! 

Perform competitive research 

Want to know how to increase sales on Amazon? One of the best tips is to look at what everyone else is doing – and mimic them.

If you’re selling on Amazon, it’s important to stay up-to-date on your competition. A good way to do this is to regularly check their listings and see what kinds of products they’re selling, what keywords they’re using, and what kind of pricing they’re offering. 

You can also sign up for Amazon’s Seller Central newsletters so that you can receive alerts when new products are added to the marketplace. By keeping an eye on your competition, you can adjust your own listings and strategies accordingly in order to stay ahead of the game. 

In addition, it’s also a good idea to regularly check Amazon’s Best Sellers list in order to see which products are currently selling well. This can give you some insight into which items might be worth investing in for your own store. By staying on top of these things, you can give yourself a much better chance of increasing your Amazon sales.

Use high quality images

If you’re selling products on Amazon, then high-quality photos are essential for driving sales. After all, potential buyers need to be able to see what they’re buying, and poor-quality photos can make even the best products look bad. Fortunately, taking great product photos is relatively easy, as long as you keep a few key things in mind.

First, make sure that the products are well-lit, preferably with natural light. Second, use a plain background so that the items are the focus of the photo. And third, use multiple angles to show off the item from different perspectives. By following these simple tips, you can ensure that your product photos will help you boost sales on Amazon.

Poor quality images can lead to customer confusion and ultimately lead to lower sales. In addition, using multiple images from different angles can be helpful in showing potential customers all the features of the product. 

Finally, using zoom functions and image enlargements can also be helpful in giving customers a closer look at the product. By following these tips, you can ensure that your images are helping to increase your Amazon sales.

Ensure you never run out of inventory

As an Amazon seller, one of the worst things that can happen is to run out of inventory. This can lead to lost sales and customers who are unhappy with your service. There are a few things you can do to avoid this problem.

First, keep close tabs on your inventory levels. Make sure you know how much you have in stock at all times and how fast it is selling. Use this information to place regular orders with your suppliers so that you never get too low.

Second, consider using Amazon’s Fulfillment by Amazon program. This will allow Amazon to store and ship your products for you, which can help to reduce the risk of running out of stock.

Finally, make sure you have a good returns policy in place. This way, if a customer is not happy with a product, they can return it without any hassle. This will help to keep your customers happy and increase the chances of them doing business with you again in the future.

Use Amazon sponsored advertising

Amazon sponsored advertising is a great way to increase your sales on Amazon. By targeting relevant keywords and phrases, you can ensure that your product appears in front of potential customers who are already interested in what you’re selling. You can also use Amazon’s impressive data and analytics tools to fine-tune your campaigns and improve your ROI. And best of all, you only pay when someone actually clicks on your ad, so you can be confident that you’re getting a good return on your investment. So if you’re looking for ways to boost your Amazon sales, be sure to give Amazon sponsored advertising a try.

How Kickfurther can help

Part of driving sales is making sure you have plenty of inventory so that you never miss an opportunity. At Kickfurter you can get affordable inventory funding that is up to 30% cheaper than other options. Kickfurther is the world’s first online inventory financing platform that enables companies to access funds that they are unable to acquire through traditional sources. With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. It gets better though – you don’t pay until you start making sales. You’ll truly have the opportunity to create a payment schedule that works for your business. You’ll outline expected sales periods to create customized payment terms. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. If your brand sells physical products or non-perishable consumables and has revenue between $150k to $15mm over the last 12 months, you are a prime Kickfurther candidate. 

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!