For makers and manufacturers, it might seem hard to establish their online web store within bigger competitors. Here are four trends that will help to increase the sales of your business.
Every year, more entrepreneurs decide to sell their products online. That is great, but it does not automatically increase their sales and revenues. To keep up with competitors and see the business grow, it is necessary to follow the latest trends for selling online.
Sell to a New Generation
While some businesses are still trying to figure out how to sell their products to millennials, there is a new generation that needs some attention: generation Z. This generation is born between the mid-nineties and early 2000s and they by 2020 they are expected to become the biggest generation of consumers. If a business wants to reach this target group, it is really important to understand that they were born with access to modern technologies and they care a lot about their own impact on the world, such as environmental issues. A recent study showed that Generation Z is very interested in loyalty programs and they are 50 percent more likely to write a review on a brand in exchange for points.
Improve the Manufacturing Process
When successfully selling online, it’s most likely that makers will experience an increase in the demands of their products. To avoid the delay of orders for the customers, it is imperative to have a look at your manufacturing processes. See if there is a way to improve and consider adding smart manufacturing software to improve your business operations.
Develop Machine Learning and Adopt AI
Within the next few years, the way businesses communicate with their customers will completely change, thanks to Artificial Intelligence (AI) and Machine learning. By 2020, 85 percent of the relationship that a customer has with a business will be handled without human interaction. AI can also help makers improve their sales strategy as it has the ability to analyse a huge amount of data. The Harvard Business Review shows that companies that are adopting AI and develop machine learning are seeing an increase in leads and appointments of more than 50 percent, cost reductions up to 60 percent, and call time reductions between 60 and 70 percent.
Improve Social Media Channels
If a business has not done so yet, they need to find out which channels are used by their target groups. Social media can be really powerful to increase sales if used correctly. A big benefit of social media platforms is that most of them are free, so it only takes a good strategy and some time to establish a brand there. Every business should make sure that the different channels are linked to each other, so the users can switch seamlessly between them.
It is very important for businesses to remember that by selling online, they have the chance to reach out to a whole new generation of buyers. By following these tips, it should be possible for makers and manufacturers worldwide to see a change in their revenues within a few months. So, what are you waiting for?
