The concept of imports and exports is widespread because it flourishes economies across the world. It is not wrong to say that manufacturing companies are struggling hard to produce competitive goods closer to the buyers’ expectations. This viewpoint has led many countries to become the market leader in the import and export business.
The Foreign B2B marketplace has partnered with evolving importers and exporters. These B2B companies have contributed a lot to eliminate economic pressures and introduce public opportunities at a higher pace.
Since the idea is becoming a norm in a global perspective, some of the famous countries have marked a top position among efficient trading economies. To know the trends and performance of trading to this date, we have created an informative post to highlight statistics of the top import and export trading global countries.
Import and Export Statistics of World’s Famous Trading Countries
As the world’s population has reached to 7.711 billion, many reports highlight a picture of countries accelerating their GDP in PPP terms. Central Agency World Factbook records a total of $135.178 trillion global GDP in 2018.
We have enlisted below top trading foreign countries that have become famous for their leading import and export trends.
China is ranked as the largest economy in the world. It has maintained its GDP by facilitating smooth imports and exports throughout 2018. The first half of the year marked a total import and export value of $2205.85 billion. There was a 16% increase in the year, which had brought multiple trading and economic opportunities to the nation.
The export alone accounted for $1172.75 billion – an increase of about 12.8%. However, imports from worldwide economies accounted for $1033.1 billion. Foreign B2B marketplace has top-notch exporters from China who have become the market’s top demand for their reliable selling power.
The United States is ranked as the 3rd largest economy in the world. The trading trends in the country have again marked its position in the top import and export country.
From the records of 2018, goods exported to foreign countries accounted for $2.5 trillion, whereas imports accounted for $3.1 trillion.
The leading trading industry of the U.S. has handled exports by supplying petroleum products, vehicles, gas turbines, packaged medicaments, telecommunication, and electric apparatus. There are many premium goods distributed to worldwide buyers that are produced finely to meet their expectations.
Germany is the 2nd largest economy that is thriving for handling extensive trades. In 2018, Germany exported products worth $156.25 trillion to foreign countries. The most common export commodities were vehicle parts, medical equipment, blood vaccination products, chemicals, electronics, and food.
The economy itself has received premium quality goods from other countries. Imports in 2018 accounted for $129.283 trillion comprising of food, machine, and equipment, metals, oil and gas, chemicals, agricultural products.
Many of the German exporters have become top sellers on the foreign B2B marketplace. This fame has established a compelling impression for the worldwide economies to partner with Germans.
Japan comes at the 4th rank among the largest economies of the world. The country has made its footprints in the trading sector by successfully transporting goods to other nations and receiving exceptional imports too.
The total Japanese exports have amounted to $81.48 trillion, which is highest compared to other trading countries. However, the imports facilitated by other economies were valued at $61.358 trillion in 2018.
Japanese exporters commonly transport goods that are categorized as automobile and transport products, industrial machinery, optical and medical apparatus, iron, steel, and plastics. There are many exporters from Japan catering to diverse markets on the digital platform where buyers and sellers are smartly connected.
In the list of top foreign trading countries, South Korea comes in the 5th position. The imports and exports have contributed to their GDP that accounted for 1,720,489 million. This figure shows competitive economic performance, which has the potential to accelerate upwards in the coming years.
The exporters have accounted for $60.481 trillion in 2018 that comprised of high-quality products with precise manufacturing. It commonly deals in electronics, machinery, steel, motor vehicles, textiles, and ships.
Not only this, but South Korea also receives valuable goods from leading importers across the world. In 2018, imported products and services worth $53.518 trillion amounted to South Kore. Some of the prominent import contributions to the economy are petroleum, electronics, food, apparatus, natural gas, and appliances.
Since the economies are more inclined towards innovation and economic-friendly worldwide dealings, there is always a demand for exclusive trading comprises of finished products at reasonable prices.
The countries ranked in the top import and export list are continuously progressing. Their trading framework is transparent to the global economies, which makes them superior among all. It is expected to see the more significant change in trade patterns, which will definitely influence economies across the globe.
To the latest statistics, China shipped $2.294 trillion worth of products across the global B2B marketplace this year. The interesting fact about Chinese trading is that the import/export value is created at an international level. It has not only elevated trading performance from the past but also resulted in huge profits to date.
The top exports of China contributed to increased revenues are technology, automobile, integrated circuits, telephones, crude petroleum, and more. Each year, these goods are surpassing the amount it exports overseas. It is important to give attention to which economies are China’s biggest trading partners.
We have explored the past trading performance of China and identified leading trading partners. The post will give you an in-depth insight into international trading partners of China along with statistical evidence of potential imports and exports from each region.
Leading Trading Partners of China 2019
Among all the nations, the United States is said to boast the largest economy in the world. Not only this, the U.S. is recognized as one of the leading trading partners of China to date. The bilateral trade between the two nations accounts for $737.1 billion.
The exciting fact about their trading is that the U.S has imported a total of Chinese products worth $557.9 billion while China imported from U.S. goods valued at $179.3 billion.
The nation itself has performed significantly to become a chief trading partner of China. Hong Kong comes at 35th rank in the world’s economy. Still, the bilateral trade association between the two regions reached a maximum of $401 billion.
The research highlights that China has imported products from Hong Kong, valued at $291.7 billion. Similarly, products from China were shipped at approximately $278.8 billion value. The biggest challenge in trading is reported in terms of re-exports. Hong Kong has no tariff on its goods, and that’s the reason it is recognized as the freest economy in the world.
Why would Japan be left behind in becoming China’s trading partner? Well, it is known as a second-most leading trading partner of China with a total of $330 billion product shipment.
The records state that imports from China were valued at $180.7 billion. Japan itself exported the products at $149.7 billion value. It seems like bilateral trading between the regions will continue to increase with elevated demands in the coming years.
South Korea also has a prominent connection with China’s B2B platform. The records highlight that bilateral trade between the nations was $274.24 billion. While making a great external relationship among each other, the business is believed to be unique and useful for the economies.
The international trade statistics indicated that South Korea shipped its exports to China at $125 billion value. However, South Korea itself received imports from China valued at $150 billion approximately.
Another prominent trading partner of China in the list is Vietnam. This is not surprising that the bilateral trade among these nations is currently recorded as $106.7 billion.
China B2B platform has provided an opportunity for Vietnam to continue trading by developing positive relations. This has marked another identity of Vietnam as an attractive destination for the majority of Chinese enterprises.
Did you know? The famous and most effective leading trading partner of China has been Germany for long. It is the third consecutive year that bilateral trade between the nations is recorded as $225.7 billion.
China has accounted for its largest share of the German economy. It has supplied goods to Germany worth at 106.2 billion euros. Additionally, Germany offered a large number of products to China worth 13 billion euros.
Taiwan has also successfully developed strong trading relations with China. This has accounted for a bilateral trade worth $197.28 billion. It is another highest trade accounted in China’s history to date.
China is the most innovative and chief trading region in the world; it has contributed to other strong economies in bilateral trading. The list provided in the post endorses top-most trading partners of China. There are many other nations as well that China has favored with other imports and exports. It is clear to us that China has maintained a balanced trade with the rest of the world.…
As a manufacturer, your main challenge is to create something that is worth buying and fits right according to the needs of your customers. In an expanding Hong Kong B2B Marketplace, where every manufacturer dreams to hit the top retail stores, competition levels have soared to an all-time high. B2B companies are not only working hard to meet the demands at their consumer end but also producing something that stands above the growing e-commerce rivalry.
Just as you can reach your customers directly through digital platforms such as a Hong Kong B2B trade site, you can also put your services in front of them through the entire supply chain cycle. From finding distributors to selling them your products and to finally getting on the famous retail store shelves, your job still doesn’t end here. You have to make sure that the products reach to your targeted consumers and take the top-selling mark at every retail store you collaborate with.
To do that, you need the right strategy, persistence and a little effort to meet your objectives. Here’s how you can make your products top-selling in retail stores:
1. Pick the Perfect Retail Store
You can always stand a better chance of success by approaching retail stores that sell the same genre of products that you manufacture. It’s okay to go after small and targeted stores instead of going to Walmart, Target, or any departmental store with a wide variety. This way you can also have a close relationship with the owner and store staff – if you become one of their regular supply chain partners. Moreover, you can learn about the store’s purchase cycles, seasonal buying patterns and the type of customers who usually shop there.
2. Start with Local Stores
If you are new to this, the best way to start with is to hit local stores. You can not only have a better idea about the local supply chain but also test whether your products are appealing at the national level or not. Since building a distribution network is complicated, you must always have a reputation built at the local stage before taking off to an international marketplace.
It is also observed local stores promote more of their country-made products giving you an edge over the global brands present at the store.
3. Give Buyer Personas to Retailers
A retail store may have a number of brands belonging to various manufacturers. When a customer walks in, the store staff asks their preferences and lead them accordingly. Similarly, when you manufacture and sell products at any Hong Kong B2B platform online, you would have a complete idea who your products are targeted to, what type of buyers will come looking for your products or whose demand it will fit to. So providing the same buyer personas to retail stores can help them identify your target consumers and convince them to purchase your products when they visit the stores.
4. Provide Complete Details of Each Product
Often, incomplete details of products can lead to confusion where customers end up buying other brands and services. When you stock up products at retail stores, try to have a detailed conversation with the storeowner and salespersons explaining them about your products, its functionality and what it’s used for. When the retail store staff will have complete information, they will be able to convince their customers resulting in high sales and profits for you.
Make sure that your story and information can differentiate you from the growing competition so you can witness customers choosing your product over other brands.
5. Train the store employees
Retail is not just about selling products but also about interacting with customers and building loyal relationships with them. If so, train the retail store employees, give them guidance about your products, and help them analyse customer behaviours based on what they want to shop at what seasons. This will help you increase your sales and make your products best sellers at the store.
In order to reach that success mark, you have to be positive and be able to find different ways to stay on track. Retailing is complicated but not when you win your customers’ loyalty and trust.…
Conducting business with an overseas supplier is always a risk. Since you are dealing with them through a digital platform, there may be chances of fraud, fake business setups or you end up coming across bad suppliers who have zero standard products. Especially in a China B2B Marketplace that is ten times bigger than the ones in the US, UK or Europe, experiences like these are very common. Despite being among the top countries for B2B space, many Chinese suppliers are either not legitimate, unverified or just don’t match your criteria.
How do you verify your potential Chinese suppliers?
Ideally, you should be keeping a few factors in mind before you pick a supplier.
- Does the supplier offer the products you want to buy?
- Do they have a good reputation in the China B2B marketplace
- Do they belong to a legitimate business company?
- Are they on the verge of bankruptcy?
- What is their history with other B2B buyers?
Once you’re done, let’s find out five ways to verify those Chinese Suppliers:
1. Go through Chinese Suppliers’ Directories or Google about them
When you pick a supplier, make sure to go through their website, the Chinese Supplier directory or any other China B2B platform they are listed on. Read thoroughly about their policies, returns, and backorders and ensure if their posted contact details are accurate or not. You can also trace the physical address on Google to confirm its accuracy.
If your supplier is authentic, then you will find its company profile on top B2B platforms like Global Sources, Alibaba or Hong Kong Trade Development Council. You might also find verification from Alibaba if the supplier has had a successful working business on the platform.
2. Make a Phone Call to them
Many fake suppliers do not provide any genuine information online to avoid being traced by the government. The best way to find if the supplier is real, make a phone call to them. While you’re at it, try to ask for relevant details like the company registration number or their business license number.
One more thing to notice is that most scammers in the Chinese market use mobile numbers to list on their websites since it is possible to have a mobile number without any registration. If your supplier is verified, they will have a landline, which should start from the digits, ‘86’ the country code of China.
3. Check their Business License
According to any international law, suppliers or B2B businesses, all have to register with the government in order to get a unique registration number. If the supplier has a unique id, then they are verified and safe for doing business with.
4. Ask for a Reference
If you wish to inquire more verification proofs about your supplier, you can ask them for reference letters from their banks, business partners and customers they have previously dealt with. This will not only give you an idea about their track record but also prove whether they are eligible in producing the top-quality products you need.
Moreover, you can also contact their customers, or any other brands to get to know about their relationship with the supplier.
5. Visit the Place in Person
If dealing with suppliers on China B2B trade sites may seem unsure to you, you can visit the company in person to verify everything yourself. This is easier and feasible for B2B buyers in China only. Before you pay a visit, check the location and the area the place is located in. When you get there, have a detailed discussion about their products, quality inspection, delivery and prices. You can only visit the selected ones since it is impossible to visit every Chinese supplier on your list. Narrow down your potential suppliers from area, products, rankings on Alibaba and their history with other brands.
The best way to make your business transactions fraud-free is to ensure you follow all the above steps and conduct thorough research before entering any business deal. Be careful with the entire verification process, don’t rush things and ensure that you secure the best profitable deal in the end.…
Have you observed that your bounce rate is high? Well, you aren’t alone on this one!
High bounce rate can result in a significant drop in the number of email signups, search traffic and especially conversion. That apparently means if you are experiencing this problem then it’s about time you take essential steps to get back on track and improve your bounce rate.
What is Bounce Rate?
According to Google, bounce rate is primarily a single-page session made by a user. That means, whenever a user enters your site from any resource Google Analytics will show an active user. If that person exits your website without opening another page or triggering any other requests on the server during that specific section, it will be considered a bounce. This rate is determined when the number of single-page sessions are divided by total sessions. Most of the time, such sessions are considered of 0 seconds duration as the user takes no further action.
Though this may seem pretty clear, the reasons behind a high bounce rate can sometimes be quite complex. Well, that’s why we’ve created this list of possible solutions to fix your high bounce rate and boost your conversion.
How to Reduce High Bounce Rate in No Time
1. Don’t Scare Off Users with Load Time
“Your first impression is the last impression.”
Well, your site’s load time is the first impression every user will get. If you don’t want that to be a bad one, you have to work on your site speed.
If a new user has to wait too long for a specific page to open, they’ll eventually get frustrated. This indicates poor user experience (UX). If you can’t offer a good UX, why would a user stay on your online B2B platform or open another page? They’ll run off!
2. Enhance Your Content’s Quality
Quality content is a crucial magnet that ensures your users stay on your site. Your site is probably filled with all types of content. That means, regardless of which page your traffic lands on, they’ll come across content. Therefore, you have to work on the readability of your content. If your audience fails to comprehend whatever you’ve displayed, I’m afraid they’ll leave with zero engagement. Eventually, your bounce rate will rise!
One great way to improve the readability of your content is by answering questions your readers seek. Nowadays, people have started to search for questions and key phrases on Google and other engines. If you can somehow provide content that answers such a question, you’ll eventually experience a rise in your ranking. Once a webpage gets ranked better, traffic will increase by improving your bounce rate.
3. Mobile Optimization
Are you reading this blog through your mobile? Well, you’re not alone! According to Statista, by the end of 2018, around 48.2% of all the internet users used their mobile to go online. In addition, this number is expected to rise significantly in the following years.
In order to cope up with this trend, you have to ensure that your website is mobile-friendly. If it isn’t mobile responsive, your pages won’t appear correctly on smaller devices. Other than that, the lead time will also be high, and your images will be out of the format. If your site is made on a WordPress theme, all you have to do is install an AMP (Accelerated Mobile Pages) plugin. With the help of this plugin, your site will appear like an application on mobile browsers.
4. Target the Right Audience with Relevant Keywords
If you are running an online store that sells home appliances, you’d want traffic that shows interest in such products. That means you can’t expect to increase conversions or reduce your bounce rate by writing a blog on the “world’s fastest cars”. Your site should have content that is relevant if you want your target audience to enter. Even if you do start generating good traffic through such a blog, users will merely bounce off as soon as they notice that you have nothing else of their interest on the site. Therefore, always be relevant with your content and choice of keywords to target the right audience.
5. Limit Your Ads
Do you have Google Ads on your website? Well, there’s no harm in that as long as it doesn’t become annoying. If you have allowed an advertisement to be displayed on the top and bottom of a page, then it’ll be acceptable. However, an ad after every paragraph of your blog, a popup on every click you make, or too many ads lined on the sidebar will irritate the user. Your site will appear too spammy, and the user will run away without clicking anywhere. If that happens, you’ll lose both the lead and any chance of earning money through the ad.
6. Convincing Call-To-Action
A CTA (call-to-action) is very important in increasing your engagement. However, there are always two sides of a story. That means, even though a CTA can help you generate quality leads, you have to make sure that you use this strategy correctly.
To start, your CTA should be creative and engaging. The color, font and placement should convince a potential customer to click-through. Other than that, ensure that you use a limited number of CTAs on every page. Exclude CTAs from any page where it isn’t necessary. For example, there is no need to include a “buy now” button on your “contact us” page. Plan your CTA strategy properly to make people click-through and reduce your bounce rate.
Many B2B marketers still ignore their site’s high bounce rate. Well, if you care about the performance of your website, then you should be one of them. In addition, the bounce rate of a site is also considered a ranking factor by Google. Therefore, follow the tips mentioned above to reduce your high bounce rate and eventually experience a rise in both your ranking and engage…
Don’t you just love the sight of likes and retweets on your latest social media posts? In fact, we are so obsessed with seeing likes on our posts that we simply delete it within a day or two if we don’t get that many. However, as a B2B marketing agency, this misconception can hurt your business big time. Likes, retweets, comments, and similar engagements don’t show the performance of a particular post. It's only a superficial fact that looks appealing to us.
There are many more such misconceptions that we fail to avoid in our social media marketing plan, and end up damaging our own business. Here are a few of them that you need to start taking into consideration.
· Focusing Too Much on the Vanity Metrics
It’s true that we all get excited with every new like notification that popups up for our posts. However, are you sure that the person who liked your post read the whole thing or clicked through? To be honest, there is no guarantee. Many people just skim through their newsfeed and like almost everything they see. On the other hand, many of your friends will also like your posts just out of courtesy and not read a single word that is written on it.
Therefore, we suggest that B2B marketing agents should look at the number of clicks on the link that you’ve provided on your posts. Or simply the reach of your posts. Since it’s your post, only you are entitled to view these stats, but believe me, it’s how you can evaluate the performance. In addition, if your website is integrated with Google Analytics, you should also look at the average time users from social media channels spend on your landing pages.
· Ignoring Dark Social Shares
Have you ever witnessed a rise in you traffic right after you posted something new on social media without many people sharing your content? If yes, that probably due to dark social shares. Dark social shares refer to those links that are copied and shared on personal chats via Messenger, WhatsApp, email or any other channels of communication. It’s pretty apparent that the traffic that comes from these shares isn’t shown in the same channel at where you’ve actually posted.
Therefore, think twice before deleting a post just because it doesn't show many shares! If you see a rise in your traffic without the shares, the dark social shares are playing a part in this.
· Timing is Key!
Timing matters a lot when it comes to posting on various social media channels. According to HubSpot, the time to post on Instagram for a high click-through rate is 1-4 p.m. You’ll find out that all social media marketing services have their own ideal times for your post to perform up to the mark.
However, posting at the right time won’t always save the day for you. Posting poor quality content at the optimum time won’t help your post garner your desired level of engagement. Even if you do manage to catch viewer’s attention, all thanks to your excellent timing, users won’t think about clicking through.
Note: Fewer posts isn’t considered a bad thing all the time. If you can, you should maintain an ideal posting schedule with high-quality content to capture the highest number of leads.
· Wasting Your Time on The Wrong Site
Yes, we read many success stories about Vloggers earning thousands of dollars and have millions of followers just by posting their videos on YouTube. No matter how useful this social channel may be, but it’s not fit for all types of businesses. It’s good to use various social media marketing services to enhance your brand’s social presence, but stop wasting time on those that aren’t good for you.
For example, if you are running a B2C business, Facebook, Instagram, and Pinterest are the ideal social networks to use. While, B2B companies can rely more on LinkedIn and Twitter to capture more leads.
At the end of the day, if your digital marketing on social media channels is not planned adequately, you can’t expect it to derive your desired results. A well prepared social media marketing plan is ideal for capturing quality leads and boosting your web traffic. However, don’t get carried away by misinterpreting the metrics mentioned above. Avoid these misconceptions and experience better than ever results.…
In the marketplace for consumers, the exposure of the digital commerce has charged a near panic-stricken race to cash in on demand created by the customers for providing fantastic experiences for shopping in different parts of the channels. Albeit the initial movers have somewhat attained exceptional results from the investments, they made in the digital commerce industry, the speed for adopting different trends have been relatively slower in the B2B market.
The same forces in the market that precipitated commerce into the limelight in the customer sector have boasted a digital revolution in the commerce sector in the market for B2B – and are developing considerable yet effective opportunities for the producers and manufacturers.
DIGITAL COMMERCE AND THE NEED FOR B2B BUSINESSES:
Digital commerce merely is not just another channel; it constitutes a considerable shift in way buyers and businesses approximate the marketplace. The buyers, however, today are not using any particular technology like fax machines or phones or anticipate for any sales representative visit next week to position orders.
Instead, they anticipate the same seamless and convenient opportunities for purchasing goods online when they search out and buy products in their personal lives.
Directed towards revamping the expectations of the buyers, the majority of the businesses in the B2B and other manufacturing sectors are expending in banking and digital commerce on significant growth. The most recent survey conducted by CloudCraze about the decisions makers in the B2B market in software, manufacturing, and GCP suggested that nearly 89 percent of the decision-makers in the B2B market fasten anticipated growth in the business to the succession of their digital commerce programs.
Moreover, within the span of the five years, it is expected that about 88 percent of the decision-makers in the B2B market wait to provide different products that could be sold online effectively.
It is worth mentioning that digital commerce solutions for manufacturers are not run through technology or other strategic methods. Majority of the organizations are backing up the idea of developing digital opportunities for the buyers with almost half of the businesses in the B2B market sell their full range of products online.
DIGITAL REFORMING THE B2B ENVIRONMENT FOR MANUFACTURERS:
Digital commerce online is revamping the dynamics of the B2B marketplaces in different ways. Majority of these changes are in acknowledgment of the choices made by the buyers, while others designate a different direction in the way B2B businesses and manufacturers tackle the marketplace.
1) SELF SERVICE – A FUTURISTIC THING:
In answer to facilitating the buyers and fulfilling their expectations for more effective buying and shopping practices, it is necessary for the manufacturers to authorize capabilities for self-service.
2) DIGITAL COMMERCE – A WINDOW OF OPPORTUNITY:
Regardless of the notion that digital commerce is an essential element for growth, some of the decision-makers in the B2B market stay doubtful because they don’t have what it takes the abilities of the most existing systems.
3) DIGITAL COMMERCE – RELATIONSHIP BETWEEN SALES TEAM AND BUYERS:
The demand for buying and providing services has constructed various misapprehensions about the nature of the sales teams. Instead of downsizing and replacing sales teams, the digital commerce improves the relationship between the customers and sales teams for practical purposes.…
If you contact a B2B marketing agency today to promote your products, they’ll probably come up with a plan that’ll increase your expenditure. Though their plans and strategies can bring you good business, your shoestring budget won’t allow it. 20% of all small businesses fail to survive in their first year. One primary reason for that is a weak marketing campaign.
However, there are many ways you can create brand awareness, promote your products and even attract more customers without having to spend a lot of money. Take a look at the following marketing tips for small business owners, to kick start your journey towards success.
1. Use Various Social Media Networks
There are over 3 billion active social media users in the world. What have you done to engage them? If you still don’t have an active Facebook, Instagram or Twitter profile to promote your business, I’m afraid you’re missing out on a lot. Social media marketing is considered one of the most effective marketing strategies out there.
The best thing about this channel of marketing is that you barely have to spend any money. In fact, you can even go ahead with it without spending a penny. If you can create engaging posts that receive a lot of likes, views, and shares, you’ll have thousands of followers in no time. As you grow your business, you can always run paid promotions that are quite low priced, to enhance your reach and derive better results.
2. Launch an Attractive Website
Over 3.5 billion people are using the internet. Therefore, it has become essential for all small entrepreneurs to launch a website. A website not only helps you get orders online, but it also lets you use many digital marketing techniques to promote your products. However, in order for your website to generate organic traffic, you need focus on SEO and rank better on top search engines.
3. Collaborate with another Business
We aren’t asking you to join hands with a competitor! Instead, you should look for a business that you can collaborate with to promote each other’s business. E.g., you can offer a discount coupon for your partner’s business every time a consumer buys from your store. Your partner business can also do the same thing. That way, you’ll both benefit in generating more revenue without having to spend any extra money.
4. Retain Your Customers
It can cost you five times more to recruit a new customer than retain an old one. Therefore, you need to start making plans to convince your customers to come back to you. You can start off with a loyalty program. This initiative will provide your customers with benefits every time they purchase something from you. In addition, you can also offer a referral bonus to encourage them to invite others to buy from you. Another effective way to bring back your customers is to approach via email or calls. You can offer a special discount to them to attract them to make another purchase from your business.
Marketing for small business or a startup can be tough on a low budget. However, thanks to various digital marketing techniques and low-cost promotional tactics you can easily promote your products and still manage to save a lot of your investment. The marketing tips for small business owners listed above are highly useful and have proven to do wonders for many businesses around the globe. – give them a try and experience a rise in your sales without your expenditure going above the red line.…
If you are a customer, I’m pretty sure that your eyes and ears are always open for the next big seasonal sale of the year. The discounts, deals and cash-back promotions just make you want to spend all your savings on that particular day. Similar to customers, business owners also wait for such seasonal sales so they can also see their sales make new records.
However, do you really think that selling a product on a 50% off sale can get you high profits? To be honest, all we see on the latest ecommerce news that hits the charts is billions of dollars of sales. Like the Alibaba’s Singles’ Day Shopping Festival crossed $25 billion. Have you ever thought how much profit they actually made out of the $25 billion sales?
According to a survey conducted by CNBC with 350 global retailers, an ecommerce website is only making a profit of 10%. After deducting high parcel refusals, shipping costs and labor wages, a profit margin of 10% doesn’t seem enough to absorb the additional discounts that you offer. After evaluating all the numbers, it looks more like an ecommerce marketing tactic to simply generate more traffic. Without any doubt, this method is considered pretty good to attract new customers, and sometimes it could even produce a short-term loss. However, in the long-term with a higher rate of client retention, you may experience a significant rise in your annual ROI.
Having that said, let's take a look at how all stakeholders benefit from these so-called ‘seasonal sales.’
Many retailers actually do make good profits in seasonal sales with the help of grey tactics that display fake prices. They simply increase the original prices of their products to show more significant cuts to their customers. Apart from that, many even design the original prices in such a way that the discounts are already built-in.
2. Shipping Companies
Probably, shipping companies that transport the products from seller to buyer are the ones that gain the most out of these sales. Though it increases their workload a lot, they simply love it. Apart from that, now many shipping companies have also started helping shoppers purchase products from ecommerce websites that don’t offer to ship in their region. These emerging shipping companies are reliable and affordable for customers. Here are a few shipping companies that serve this purpose.
- BUY&SHIP (Provide a service to people of Southeast Asia to shop internationally)
- Tenso Japan (Helps customers purchase products from various Japanese websites)
- Peeka (Provide assistance to people who wish to buy products from China)
3. Ecommerce Platforms
Are you familiar with some of the best ecommerce platforms? If not, they are the ones that have provided many ecommerce businesses the opportunity to become recognized in the first place. Wondering how they benefit? To be precise, ecommerce platforms charge a commission on every sale you make through them. They don’t care about your profit margin, as their entire interest is in your sales volume. The more you sell, the more they earn. Some of the best ecommerce platforms in the world are,
With all the other stakeholders winning with their nature of business, customers simply love these sales. Even though the chances are that many companies use grey tactics to sell their products, you can still manage to get your hands on some of the best deals in town. You can benefit from those businesses that use these seasonal sales as an ecommerce marketing tactic that doesn’t focus on the profits.
It’s better to purchase products from websites that you regularly visit and buy from. That way, you’ll be familiar with the actual prices of the products you plan on buying when the time comes. If you go for new websites, the risk of getting fooled will always prevail.
For years many people thought that ecommerce giants are making billions of dollars from seasonal sales like Christmas, Black Friday, and Cyber Monday. However, with all the research, this myth just had to be buried. If you think these websites are giving you a favor, or they’re doing it for the spirit of the season, wrong again.
The primary reason behind these sales is marketing and brand awareness. Go back a decade, and you may not even consider buying from Amazon. However, with various digital marketing techniques and trends, online stores have turned out to rule the industry. In fact, they have caused many big companies like Blockbuster and Toy R Us to run out of business. Experts believe that the online market still has much more potential to grow in the years to come. However, there are still many people who aren’t comfortable in shopping online. We’ll just have to wait and see if new records are made this year or not.…
There are plenty of fantastic businessmen out there who are without a doubt, proud of what they have achieved in all these years. There are a significant amount of business individuals who are incredibly proud of the expansive clash their firms have. They are well aware of the notion that thriving businesses aid a lot in re-shaping the cities and hometowns and make them better and sustainable enough to live in:
- Selling a service or a product sometimes which will increase the benefit
- Supplying sustenance to their co-workers
- Invigorating other business platforms by purchasing different products from them
All of the things mentioned above are what some of the investors and consultants in management believe, is the ‘impact.’
The influences which are positive and improving the lives of the people are positive and real. Investors in this regard monitor that majority of the entrepreneurs plan and use these positive impacts in their activities and various models of business followed by effectively calculating them.
Calculating the influence which you have achieved over the course of years demands you to monitor closely at how you manage and run your business. It draws the attention of your entire workforce, gives you complete attention and provides attentive detail regarding the things you are good at and assist you in ameliorating your business for the good. This process will also enable you to attain a decent measure of the value of your business. There are a few ways to do it.
1) Open Your Eyes:
Inspect everything that your organization has been doing for a long time. You will eventually get to understand that plenty of the regular and ordinary things which you do at work influence the people around you. Doing something influential creates an impactful, vibrant and a favorable environment for you and the others surrounding you.
If you are planning to give your co-workers a decent wage, opportunities and other benefits to absorb and enjoy, this is the impact you have on your co-workers.
If you are planning to purchase different goods and services from your competitors and other businesses, assisting in the economy, that’s the influence, you have.
If you are asking other people like your co-workers or friends to perform an advisory council and a sounding board, and effectively work to decrease the pollution and contribute some of your savings to a charity, that’s also an impact.
2) Prioritize The Development:
If you agree with the fact that you cannot do everything at once, then probably you are right. Start with prioritizing a few things first. Select the kind of influence you have on your people and customers and how can you improve it for the better.
The assessment plan of the B-corporation is providing a lot of information and assistance for the people.
The questions which proved out to be a little difficult for you to answer or you were unable to answer them because you were not sure about the answer. This process transparent the points of development of departure and the response to some of the fundamental questions which were given by you provide different ways to ensure more accuracy and muscle.
However, the fact is true that extracting different ideas from the assessment of B Corp is considered as the most effective way for entrepreneurs who care about the impression and the plans to improve.…