Here's how we exploited a legal obligation into a business opportunity
From our point of view, investing in digital has always been the only alternative for companies that wanted to continue to be competitive on the market. Whether we want it or not, our activities are increasingly moving to the internet, and this has been happening, slowly, for many years now. Whenever we need something, be it a product, a service or even simple advice, we rely on Google. When a potential buyer takes this action, all the companies that are easily findable on Google will certainly have an advantage over the others. Perhaps this emergency situation from Covid-19 and the deprivation of mobility has turned on the light bulb for some companies that they have fallen too far behind in digital progress. Reflecting in broader terms, this is certainly a great opportunity for modern companies, but also a great obligation and commitment: investing resources, dedicating time and tracking the activities that are carried out.
As you well know, due to the Covid-19 emergency
Taking into consideration this last aspect, "tracking", in the article we try to explain how we managed, thanks to this powerful tool, to exploit a legal obligation into business opportunities. Legal obligation or business opportunity? the state requires the recognition and archiving of data relating to guests for all activities that offer services and which involve the reception of people. Thus restaurants, hotels, bathhouses, gyms, swimming pools and so on have been "required by law" to review every person who enters their business and to retain the information. At first glance it might seem like a nuisance, a commitment that adds to those already included in the activity itself. But are you really sure?
With one of our clients who works in the restaurant sector, we studied and put into practice a strategy to be able to exploit this legal obligation into a business opportunity. We soon understood that the contacts, which had to be registered, could be a strong added value for all the company's e-mail marketing activities. Easy? Maybe yes, but not for everyone. winning business ideas Without a digital guide you are missing a great opportunity! In the digital age, we still see companies and entrepreneurial activities that fulfill this legal obligation, guess how? Exactly, with pen and paper. In addition to material waste, this attitude leads to a waste of opportunities.
Expanding your contact base allows you
The data relating to your customers (name, surname, email, etc.) are of great value for your company. Think about how you could exploit them for all your institutional but also advertising communications. It is certainly necessary to organize information on IT media and know how to manage it best, but this is the task of your digital consultant. , first of all, to have more information about your customers: who they are, how old they are, whether they are mostly men or women, where they come from, etc. Important data to be able to put successful business strategies into practice. The second important aspect concerns the number of contacts available to you.
Every person who goes to the restaurant is obliged
By expanding the number you will be able to spread your message to a greater number of people. Returning to the example of our client, to make the most of the data of registered customers, we have prepared a compilation form on the website. to fill in the online form with their data. The result? In the space of just over three months, the list of contacts available to us for marketing activities has increased by more than 80%. Perhaps for those within the digital marketing perspective it is trivial, but more and more often we realize how much digital backwardness there is within modern businesses. This saddens us a little and pushes us more and more to try to make people understand how important the marketing strategy is and how essential the guidance of a digital manager is.
How to test your e-commerce idea
Today, entering the online retail industry is cheaper and easier than ever. But being successful is another matter. One of the many reasons why companies fail is because they simply have no market; and this is especially prevalent online, where people think they can make any old hobby profitable with just a website and social media ads. Online businesses work just like brick-and-mortar businesses, the only difference being that they have a much lower barrier to entry. Putting a bad idea on the Internet doesn't make it better. Before venturing into e-commerce , there are many things to consider, from competitive analysis to setting up a marketing strategy, including the inevitable creation of your website. So, to help you understand whether your online store idea might be feasible, we've put together this quick guide. Buy similar products on other e-commerce sites.
The simplest method you can use to analyze product-market fit is to visit your competitors' websites. Search for products using the same keywords that your target audience might use; look at the results and check the most relevant products. If a product similar to the one you plan to launch is on a competitor's bestseller page and has many positive reviews, you are on the right track for product selection. See what people like and what they don't: read the reviews of the products and those of the people who purchased them to understand if there is anything specific to think about (delivery times and methods, defects, customer support, etc.).
Use everything you've learned from the previous step
Purchasing the product and analyzing its sales process can also help you better understand your competitors' marketing strategy. Study the target with surveys and interviews The next step is to organize a survey. and prepare a list of potential B To C Database questions that will help you gather more information about your target audience. Next, use a tool like Survey Monkey to set up a short survey to send to potential customers. Remember not to offer any reward in return, as this can influence the answers.
Do a web analysis You can figure
In addition to the survey you can also use interviews, as they are a tool with which you can get better answers. Plan to interview at least 10 potential clients. Use the same survey questions, but pay more attention to the answers to go into great detail. out whether a product or product category is popular by conducting keyword research on the web. Tools like Google Trends can show you whether interest in certain types of products is increasing or decreasing. Consult sector reports and research Several organizations regularly publish reports and studies detailing the latest trends and public interests in the e-commerce industry. You can use this information to check whether your product meets the needs of your target audience.
Experiment with dropshipping The techniques we talked about above are commonly used before launching an e-commerce store. But they are all imperfect in that they leave you guessing at how successful your business might be. When creating an e-commerce store you need to invest a lot of time and money. You need to perform various tasks, do surveys, brainstorm and create the products that people want, rent a warehouse, buy packaging materials and many other things.
The digital store owner (that's you) is primarily responsible
There is no guarantee that your product or store will be successful. If you want to eliminate this risk, one method you can try before you start selling products is dropshipping. Dropshipping (in Italian "direct delivery") is a form of e-commerce in which the store selling the goods does not keep any of the products in stock. All e-commerce logistics are managed by sellers (the wholesaler) who ship the goods directly to customers. for product marketing and customer service.
This is a low-risk method you can use to confirm proof of concept for your product and store before launch. So, visit the best e-commerce stores, find products similar to yours, identify the manufacturers who offer them in dropshipping, insert them on your site and then worry about promoting them through various methods (affiliates, influencers, sponsored ads). Your goal is not to make a profit, but to determine whether people want to buy the products and what the cost per acquisition is. If your products work, you can proceed with opening the e-commerce store. You will be sure to make a profit as direct production and selling will cost you much less.
But if your product doesn't work
You can always abandon the product and store idea you had in mind and repeat the above process (with new ideas) until you find one that provides you with a better ROI . A dropshipping project is an opportunity to learn Turnover in the e-commerce sector is growing at a rapid pace. But the same goes for the number of online stores, also considering the ease with which anyone can create them with tools like Shopify. We have seen that it is not enough to create an e-commerce and put a product there that you "think" can be sold. If you want a good portion of online visitors to buy from your store, you will need to do extensive research to understand what products your audience wants. Don't rush to sell your products once you've done your research.
Before starting production, test your insights using Dropshipping to confirm product-market fit. If your experiment is a success, you can move forward with creating and launching products. My goal is not to get you into a dropshipping business. I want to show you how you can safely test new product ideas by reducing the risk associated with storing products in the warehouse before you know what really works. Dropshipping makes your business flexible and competitive. A dropshipping project is an opportunity to learn. If it doesn't meet your expectations, it doesn't mean e-commerce can't work. You may need to approach it differently.
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