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Selling online - what others aren't telling you
Selling online, many see it as the Valhalla for their business, but is it. It is true that you can reach a large audience online, but there is also a lot of competition. That's why you need to be smart about your online sales. In this article, we will give you some tips on how to successfully sell online.
According to a research by Statistics Flanders among companies with at least 10 employees, 33% of total sales come from online sales. In large enterprises with at least 250 employees, it is as high as 59%. And that share will only grow in the future.
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You can access a Google Sheet of our financial plan example via the Google Drive link above. You can also copy this to your own Google Drive, share it with others or download it as Excel.
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Why is it important to have a financial plan?
A financial plan ensures that you think about your costs, product and services. Based on this, you can also adjust your asking price to still break even. When starting a company or to get loans, it is often also mandatory to present a financial plan.
Why is breaking even a must?
The break-even point is the point at which total revenues equal total costs. In other words, it is the point at which you make no profit or loss. Calculating the break-even point is important to determine when a business will become profitable. In your financial plan, this calculation helps you set realistic goals and develop strategies to reach those goals.
Should I start selling online now?
- YES... Because more and more consumers as well as businesses are making their purchases online. According to some studies, as much as 95% of all purchases will be made online by 2040. As a forward-looking and ambitious entrepreneur, you cannot ignore that. So you better start thinking sooner rather than later about how to sell your offering online.
- NO... Because it's best to think it through first. Your online sales will only be successful if you do it the right way. That is: according to the right strategy and tailored to your business, your offer and your target audience.
Below, we give you lots of practical tips to make your online sales successful.
Selling online tip 1: Analyse your offer
Many entrepreneurs and businesses never start selling online because they think their offerings are not suitable for selling online. But is that really the case? We are all familiar with the idea of buying and selling physical items online. But, services like consulting, coaching and advice can also be sold perfectly online. So don't be too quick to say that your offering is not marketable online.
However, it is advisable to analyse your offer properly before offering it for sale online. Take a critical look at your products and services. Perhaps not all of them are suitable for selling online.
Selling online tip 2: Define your niche
Think about where your services fit in the market and how you differentiate yourself from the competition. If your company offers services, you may aim to reach as many potential customers as possible by offering a wide range of basic services at affordable prices. But, you can also choose to offer only higher-priced specialised services in a certain segment.
Selling online tip 3: Know your target audience
To reach your ideal clients, you first need to know who they are. That is why it is important to define your ideal customer very precisely. That way, you can be much more responsive to their needs.
The goal is to make your ideal buyer as human as possible. You have to present him as a real person. Therefore, define the following characteristics:
- Age
- Gender
- Relationship status
- Number of children
- Monthly income
- Education level
- Hobbies and interests
- Books and magazines he reads
- Brands or influencers he follows
- Problems, frustrations and fears (regarding your offer)
- Dreams and goals
- Places where he often attends and obtains information (blogs, seminars, books, forums, ...)
- Preferred communication channels
- Specific language and words he uses
- ...
This list is not exhaustive and depends on the ideal buyer himself. The representation of your ideal buyer should become super specific.
Selling online tip 4: Define your strategy
People often mistakenly think that they can only sell online with their own webshop. However, there are several ways to sell online. We list the main sales opportunities:
Own webshop/website
Many companies have their own webshop. Sometimes it is part of their website, but it can also be completely separate. With your own webshop, you are completely free to sell online the way you want. A major disadvantage of having your own webshop is the cost of development and maintenance.
Online marketplaces
There are a lot of online marketplaces such as eBay, Amazon, Alibaba, Etsy or Stream. Many companies sell exclusively through these channels. It costs you nothing in terms of development or maintenance. On the other hand, you have much less freedom in terms of design and user experience.
DIY e-commerce platforms
There are also e-commerce platforms like Shopify and BigCommerce, which let you quickly and easily create an online shop on their domain. So you don't have to pay to develop an expensive website yourself, and you can usually customise the design and branding.
Social networks
Nowadays, you can also sell online via social networks. With Facebook Shop, you can quickly create a Facebook shop page to sell your products. You don't even need to have an existing online shop. You can also sell online via other social networks such as Twitter and Instagram.
Online selling tip 5: Deploy multiple marketing channels
Once your online shop is ready, you need to bring your offer to the attention of your target audience. Time for marketing, then. We always recommend using several marketing channels at the same time. That way, you reach many more people and people will see your message several times. And the power of repetition also works in marketing.
Choose the marketing channels that best suit your brand and your ideal customer:
SEO
Most people start any purchase on the internet. Through search engines like Google, they are directed to websites that best match their search term. With search engine optimisation (SEO), your webshop ends up high in the search results. This is how you attract more visitors.
Social media
Facebook, LinkedIn, Snapchat, Twitter, Instagram, ... Social platforms are ideal for reaching many people at once. Build your own community with hashtags and boost your organic reach.
Paid ads on social media
Social ads on Facebook, Instagram or other social media are ideal for attracting new customers, encouraging people to download an application and for remarketing. With social ads, you also have a wide range of targeting options. Because social platforms hold a lot of information about their users, you can target your ads very specifically.
Google ads
With ads in Google, you are immediately visible to customers who are specifically looking for your offer.
Content marketing
With blogs, podcasts and YouTube videos, profile yourself as an expert in your field. Make your voice heard and share your expertise. Then make people curious about your offerings.
Word of mouth
Encourage customers to share their experience with your brand with their network.
Even more (online) sales?
Starting to sell online is just one way to make your business even more successful. Do you want to get the most out of your business? At ActionCOACH, we help entrepreneurs and companies build an organisation that will remain successful in the long run.
Kurt Vervloet
Kurt Vervloet is a business coach, blogger and speaker. Since 2017, he has been coaching businesses around the world, ranging from solo entrepreneurs, SME companies to executive management teams at large organisations. His clients choose to work with him because of my proven, no-nonsense approach to optimising and scaling businesses. By achieving great results with his clients, he has already been rewarded with several Awards.
