This post is by Lanae Paaverud, founder and CEO of Social Networking Nanny. Lanae began selling on eBay in 2000, and opened her own online retail website, Old World Limited, in 2007. An early adopter of Facebook and Twitter to promote her business, Lanae’s success with social media was quickly recognized by her peers. In 2009 this led to the founding of Social Networking Nanny, a social media services firm helping small businesses get social on Facebook, Twitter, Pinterest, LinkedIn and more.
As an online retailer with 16 years of experience, I quickly learned that social networking is an integral part of business. You can advertise your products, and promote your latest offers, but also put a face to your store – a crucial human aspect that helps people engage with your business and feel comfortable buying from you.
With Social Networking Nanny, I spend a lot of time talking to other business owners about using social media. But there’s a lot of hype and “hot air” out there about marketing through social networks, and it’s easy to get the wrong idea about using social media in your business.
So here are my top nine myths about social media for business. I’ll explain why people believe them and the reality behind the myths, and – most importantly – how you can really make the most of your social presence. I’d love to hear your questions and feedback in the comments at the end!
This post is written by Crystal Gilliam and illustrated by Joyce Lee, both members of the TradeGecko content team. TradeGecko is a cloud-based inventory management software solution for SMBs. TradeGecko’s blog and knowledge base are full of tips and tricks for retailers and wholesalers on inventory management, ecommerce and logistics.
Supply chain management. The term brings images to mind of warehouses, shipping containers, and people walking around in hard hats holding clipboards. It can seem complicated – and let’s be honest, it is. A supply chain is the multi-faceted backbone of your retail or wholesale business whether you’re selling online, in stores or doing a little bit of both.
As with any major aspect of your business, there are probably lots of areas where you’re incurring more costs than necessary and some of these can definitely be streamlined. It’s worth taking a look at your supply chain as a whole to recognize areas where there could be fewer costs, which also means higher profits.
If you’re not sure where to start, here’s a guide for cutting those costs and optimizing your supply chain.
In the following, we take a look at six areas of the supply chain and how you can start to cut costs and streamline: inventory cost, inventory valuation, quality control, sales channels, warehousing and fulfillment logistics.
This post is by Nick Maglosky, CEO of ecomdash. Ecomdash is a smart, multichannel inventory, order, listing and shipping software for online retailers. Nick is passionate about small to mid-sized businesses and all things ecommerce, and enjoys researching innovative ways retailers can compete online in an increasingly diverse market.
Though ecommerce businesses and strategies vary across industries, there’s one thing just about all retailers can agree on: returns suck. It can feel like the death of a sale, and it’s a hassle to process.
Though some buyers want to bury their return policy in hopes of dissuading returns, know that an easy returns experience yields future orders. Studies show that of the 60% of online shoppers that make at least one return or exchange per year, 95% will make another purchase if the return experience was positive.
This post is by Ashish Monga, the founder of IMEX Sourcing Services. IMEX is a sourcing, quality control and product development company helping businesses import from China while managing their costs and risks, with particular expertise in ecommerce and selling on Amazon. Ashish also does consultancy work in the field of international trade and import risk management. He is the author of The Sourcing Blog, a blog focused on sourcing advice for importing from China.
There are many commonly held beliefs in the West about getting a company to manufacture your goods in China. It is true that you can vastly reduce your production costs, even when you have to ship products halfway around the world.
But it isn’t true that dealing directly with factories is always the best way forward. Trading and sourcing companies, though they sometimes have a poor reputation, can be a very good way of starting your foray into Chinese manufacturing, with experts on the ground able to help you in a very alien environment.
In this article I’m going to explain the differences between manufacturers, trading companies and sourcing companies. Then I’ll help you understand which is right for your unique business and products.
Finally, I’ll give you some advice on how to approach these companies. Chinese suppliers can get hundreds of inquiries every day, so you have to “sell” your business to them just as much as they have to prove themselves to you.
Let’s start by taking a look at the similarities and differences between manufacturers, trading companies, and sourcing companies.
This post is by Lauren Shepherd, a marketer at Teikametrics. Teikametrics helps Amazon FBA sellers drive traffic to their listings and scale their business using data-driven software and consulting for inventory optimization, repricing, restocking, review management, ad optimization, and product scouting. This post was first published on the Teikametrics Blog as What the Most Successful FBA Sellers Do Differently.
Selling on Amazon is a bit like life in the Amazon jungle – it’s survival of the fittest. But what gives certain sellers that edge? What makes them stand out from the pack and become king of their domain?
Top Amazon sellers aren’t like the rest. The most successful sellers have adapted to the evolving ecosystem that is online retail by treating selling on Amazon like trading on the stock market.
Amazon has resulted in an increasing commodification of retail, putting the focus on price and convenience rather than value and selection. Just as traders take a strategic, analytical approach to their stock portfolios, successful sellers apply the same mentality towards their inventories.