Chapter 9: Bonus Tips
Adding Value
We mentioned earlier that one of those important aspects of business was sales. Sales of course translate to the connection between customer and product. The means of drawing this connection comes from perhaps the second most important aspect of business, this being adding value.
Whenever you are dealing with clients it is incredibly important to add value every step of the way. This not only helps you gain more sales, it can change the item premise of your business from just another online dropshipping operation to a well respected, trusted brand. Customers who have highly valued, exceptional experiences are more likely to let their friends and family know. If you really made an impact whether it was through the initial communication, customer service, handling complaints or even just a little note at the end of their transaction to let them know how important they are to your business, this can go a long way.
Adding value to a customer's experience is something that costs very little yet it can be one of the greatest assets a business can aquire. All it takes is some genuine compassion and understanding to really give the customer exactly what they want before they themselves know they want it.
Taxation
Once you become more established it certainly becomes worthwhile to secure an Employee Identification Number (EIN) number seeing as many countries have tax treaties with the US which is where both Amazon and eBay reside. This will not only keep you out of trouble, it can also lower the rate of tax you pay on your income.
An EIN can be easily applied for online through the Internal Revenue Service website.
Sales and Marketing
This will be where you will spend most of your time working outside of filling orders. Sales and marketing is the most important element for business and can be instrumental in the future growth of your business. Fortunately in today’s internet economy there are countless avenues to take for driving marketing and converting sales. Depending on which niche you choose to engage you can tap sources which match well with your products and your chosen target market. If of course you are inexperienced in marketing and sales there is a huge workforce of freelancers willing to get their hands dirty and carry out the job for you for a small chuck of your marketing budget. This can make a huge difference to the success of your business. Remember nobody will be buying your products if they don’t know it exists. Ensure you get your name out there and make an impact your chosen niche.
Never be afraid to increase your marketing budget as sales increase as this will be one of the greatest growth drivers of your business and by opting for cheaper options you will find them less effective and in the long run more pricey than by taking the premium route which can generate greater leads over time which equals a higher conversion rate and ultimately greater revenues.
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