In our last blog post we helped simplify some key SEO terms to help you get your own website optimized. Now, we want to help you take the first few very important steps to make sure your website is visible on search engines and is ranking where it should be.
One of the most common challenges in dropshipping relationships is maintaining accurate inventory levels for all the products available on your site. Every e-commerce entrepreneur’s worst nightmare is selling a product that is no longer available. Such an experience can easily deter a customer from ever purchasing from your site again.
We recognize that keeping up to date with all your suppliers is time consuming and cumbersome. So on Modalyst we have automated the process so our retailers can spend more time selling their products and less on updating inventory levels.
As an e-commerce entrepreneur you are inundated with advice on how to best market your store. Invest in design! Tweet more! Use linkbuilding! And so on…
But in today’s digital landscape, audiences are fussy and niche. How can you spend your time finding the customers that matter to YOU in an effective and efficient way?
Syama from Scaling Retail is back to continue her series on Cash Flow. To start from the beginning, check out her previous post here. If you would like to be notified when a new article is posted, please sign up for our newsletter to the right.
The second installment of the Cash Flow 101 series is here! I know we had you on your heels with the set up and you have been waiting to get started with filling in sales. Sales are the lifeline of your business. No sales, no business. So its very important to develop your sales strategy each year and then build out the projections so you can see where your vision lines up with the actual results.
Here is how to do it:
Too many times I have seen brands produce beautiful products, gain wide distribution and still lose money. Why? Most of the time it is because they have not properly calculated their pricing.
The wholesale price of your items is where your profit margin lives, so this is an essential element in keeping your brand alive. There should be no budging on this margin. No matter what, you should always be following the same formula.
The retail price (MSRP) is what you suggest on your linesheets but will ultimately be decided by the reseller (hence the term Manufacturer’s SUGGESTED Retail Price). If you sell directly to customers through your own site as well, be sure to never undercut your resellers by listing the products for less than your MSRP.