Why Should Business Owners Consider Getting Into Multi-Channel?

Nowadays with mobile devices or tablets, we can easily access any channels or websites to purchase items. Selling products on multi-channel helps to catch consumer’s attention more than their own websites.

This is a model that has been in development since the technology started to develop. Accordingly, this model will use many channels to attract customers. Accordingly, this model will use many channels to attract customers. Enterprises applying 5 popular multi-channels are as follows:

  1. POS - the traditional retail point of sale

  2. Social network - To promote businesses and sell directly on Youtube, Facebook, etc.

  3. Website - Channel introducing the brand and professional direct sales

  4. Mobile application (mobile app) - selling via smartphone platform ( Amazon, eBay, etc)

  5. Affiliate - Selling through a network of collaborators or through other websites. The highlight of this model is that each channel will have a separate sales and management system with its own warehouse, so the process is also different.

3 Reasons For Business Owners To Start Multi-Channel Selling:

1. Easy and cheap to build a multichannel eCommerce business

Some business owners estimate that the entry cost of a new online retail business is as low as $30 a month at BigCommerce, and the business can be online within a few days.

2. Increasing profit

A major benefit that multi-channel gives to any retailers. With the outstanding advantage of not being limited in space and time, e-commerce enables both parties to make purchases not only in one country even on a global scale. Saving costs and time in sales helps small and medium enterprises increase more profitably and improve competitiveness.

3. More and more chances to approach target customers.

By selling products on multi-channel, businesses can find customers without having to spend much money on ads and reduce the cost of hiring staff and renting shops. With the Multichannel model, businesses can reach customers in many sales channels such as Apps, Social Media, websites, ... Advertising via the website / social media to display information, product images which saving the cost of printing brochures, catalogs. So that businesses can focus on providing better services to satisfy customers.

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What Are Issues That Business Owners Meet When Selling Multi-Channel?

1. Define channel focus

Aside from the commission fees for each channel, small and micro-businesses must deal with its rules and policies from time to time. It will take time to experience and figure out which products you can sell on different channels and reprice listings.

Multichannel doesn’t mean being everywhere. You don't have to push out on Twitter, LinkedIn, Facebook, blogs (including those not directly related to you), and so on. Before you choose any channel, define what it means for your business.

Every channel you pick should work for your business model, industry, and target audience.

2. Inventory Management

For the first time selling on multiple channels, Businesses will be miss products that are needed to order from the vendor so make sure all products are full-on inventory before selling or will lose customers to rivals. Businesses must have knowledge about inventory management to control their inventory efficiency.

If you, as a business owner, see that you cannot handle accounting on your own, consider hiring an accountancy service for contractors to help you with it.

Call Irvine Bookkeeping now for a Free Quote!

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