Below is some simple golden rules for starting/running and ecommerce store which are often overlooked

Rule 1: Love Your Customers.

You need to love your customers because, word of mouth is a very useful advertising technique and you should want positive feedback being talked about your online business

Rule 2:  Buy Low > Sell High Quickly.

This is a quite obvious rule but its an extension of the Buy Low > Sell High technique as you don’t want to buy loads of stock at low prices but are unable to sell them as having idle stock isn’t useful to anyone least of all you!

Even if you only are making a couple of dollars on each sale its still high but its quickly and this is key! I would rather have low profit margins and a high volume of sales over high profit margins and no/low volume of sales

Rule 3:  Use Offline Marketing Carefully.

It can spiral out of control and their pricing is ridiculous when compared with online advertising. However, you have an advantage with alot of offline advertising because, many companies have sales reps who are on deadlines and this can be used to your advantage. Remember though if you spend alot of offline advertising then you’ll have to raise prices which as we all know isn’t a good business model.

Rule 4: Know your marketing!

You need to decide on Brand marketing or ROI marketing. I’ll go into further details about each one of these in later blog posts but its important you know your marketing!

Rule 5: Analyze the stats.

By analyzing the stats you can start to understand your consumer. This means that you can really start to provide the best products and experience for them because, by giving the consumer the best shopping experience you can with your store they will become loyal to your website and you’ll gain repeat orders.

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