Monday 29 December, 2014

Marketing Tips – How to Diversify Your Online Sales Strategy

Sales used to be simple. You brought your stuff to the physical marketplace and sold it. Now, there are thousands of places online where you can not only advertise, but sell your products directly. The best strategy is to diversify your online sales as much as possible. Get your products to your customers in as many places as possible.

Where and how you should diversify depends on your products, your brand and your market, but here are some suggestions to help you boost your sales.

Niche-Specific Marketplaces

If you have a tangible product, it makes sense to sell it on Amazon or eBay. These sites cater to every niche under the sun. But there are also niche marketplace sites that are designed for special audiences or types of goods. Do some research to find out what small online marketplaces sell products like yours and try selling on them.

Go Beyond Google

Instead of focusing your traffic efforts on the good graces of Google alone, try getting traffic from other sources wherever possible. Traffic from Google is great, but the problem is that things can change quickly. Whenever Google changes its algorithms, lots of websites take a hit. As much as possible, rely instead on social media, video sites, your blog and other traffic sources that aren’t dependent on search engine traffic.

Diversify Your Products

One great way to boost sales is to diversify your product. Think of similar products that solve your customers’ problems, or products that help them make better use of your existing products. For example, if you sell weight training products, you can sell nutritional supplements or other products that people into weight training use.

Diversify Your Market

Go beyond the people you usually sell to and reach out to new markets. Are there other people out there who can use your products? Or is there some way you can change your products or marketing slightly to appeal to a new demographic? If you can change your offerings so that they’re relevant to new markets, you’ll see more sales.

Outside the Box Content

An easy way to diversify without developing new products or trying to reach new markets is to offer content that is unique. Look at the content in your niche and try to take a different angle than what others are taking. This will attract different kinds of customers to you.

Head Overseas

If you sell mostly domestically, check out overseas markets. Find out if there’s demand for your products in other countries. Start by looking at your sales to see if there’s a certain country where you have customers. Once you’ve identified good overseas markets, determine what you’ll have to do to sell there, including different cultures and languages, regulations, changes in marketing strategy, and so on.

When you have a diversified online sales strategy, one change in your market won’t wipe out your entire marketing strategy. This is how companies that survive and prosper over the long-term do it.

Bob Steele

Bob Steele is an entrepreneur, software developer, marketer, and author living in the Denver metropolitan area. He’s an avid outdoorsman who loves skiing, hiking, fishing, boating, and just plain having fun. His interests include games, space, technology, physics, cooking (well eating actually), economics, business, internationalism, and team sports. With over thirty years of professional consulting experience, Bob has been exposed to many diverse business models and has gained a sensible approach to life. Bob’s company, WaveCentric is focused on commerce, marketing, and entertainment related products.

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