If your business has seen the same increase as many eCommerce businesses in 2020, you will be ready to develop. There are more than just renting a larger warehouse and hiring more staff. There are many more things to consider, including what should be number one on the list and how you finance the expansion.
Even though your business might enjoy unprecedented success, which of course doesn’t happen to other sectors in retail. Many high street businesses struggle or fail, and these are very many images seen by conventional lenders. This has made them very reject risk, and that means you have to look for a specialist e-commerce loan for your business.
After funding has been secured, the question arises of the best place to spend it. Of course, there are bigger places and more staff to think about, but there are five other fields that you might also want to consider as a priority.
#1 Image and graphic design
They say a picture of a thousand-word paint, and there is nothing more true than in retail online. When a customer cannot get a product on a product to check it out, the image is all they have to do, so they must have the best quality … and there needs to be many of them.
This might go beyond whatever resources you are currently, so you can pay to get some professional shooting done from your stock. However, your competitors might do it.
# 2 Website design
Even though you might do a lot of your business through Amazon or eBay, enough amount will enter through your website. Now is the time to invest in the design and increase UI and UX of your site. The bar for this is often regulated by Amazon, so your site must be easy to use if you want customers to return.
# 3 SEO.
Getting organic traffic for your site is Holy Grail in retail online. In a world dominated by two large players, making people to your site without paying every time you can make a big difference to your bottom line. Involving companies to move your ranking is definitely part of a long game but has been shown to produce results from time to time.
# 4 Hosting
With progress in the business and plans to increase traffic from SEO, the last thing you want is for website crashes because they cannot handle it. Many small online retailers have a type of hosting package that is exactly the same as your daily bloggers. If the e-commerce sales volume increases again, these packages will not be suitable for their purposes. So, you have to look for updating your package or ask your hosting company for a bespoke solution.
# 5 Advertising.
Short term solution but one with, if done correctly, near-instant results. It must bring the entry of sudden traffic that must bring sales and test the effectiveness of other changes that have been made.
In conclusion, this is not about things you can see immediately that you need to consider when expanding the business but see each part that shapes your business and see what can be upgraded with new funds.