How can e-commerce companies make more money?12 ways to make money consistently in business

How can SMEs continue to make more money?

If small and medium-sized enterprises do a good job in these 6 major directions and 6 high standards in their operations, it will be easier to continue to earn more money.

(6 major directions + 6 high standards = 12 major methods)

6 major directions:

1. Maintain old customers and discover their needs
2. Improve service
3. Refined products
4. Original Design and Intellectual Property
5. avoid price wars
6. Don't blindly invest in expansion

Maintain old customers and discover their needs

Many bosses like to stare at new customers, but do not maintain old customers.

现在drainageAcquiring new customers is expensive, and existing customers are readily available.

In fact, as long as the old customers are well maintained and their various needs are met, the customers will naturally repurchase several times, and the income will increase.

Improve service

• Many small and medium-sized enterprises do not have a strong sense of service.
• Customers buy from you as if they owe you something, remember you are not the only seller.
• If the service is not good, the customer buys with someone else.
• Be sure to regard customers as gods from the bottom of your heart, and you will get unexpected rewards.

Refined products

• Many bosses like the new and dislike the old, and constantly develop (plagiarize) new products, resulting in a lot of junk products.
• In fact, on the basis of existing products, they constantly seek customer opinions, polish products, upgrade products, and solve problems.
• Making this product a top segment will boost their revenue and margins.

Original Design and Intellectual Property

• The ones that are competitive now must be small and beautiful companies with originality.
• If you can't, find someone to cooperate with.
• There is also the protection of intellectual property rights, which must be taken seriously, because plagiarism is prevalent now.

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• This is definitely helpful to you and can extend the life cycle of your company's products.

avoid price wars

• There is no lowest price in China's domestic market, only lower prices, and the number of introverted competitionunlimited.
• Everyone is thinking about how to cut corners and save costs.
• Instead of this, it is better to jump out of this vicious circle and offer a higher price.
• Although the quantity is small, the profit is good.
• One pair is the profit of 10 pairs for domestic sellers in China, and the inventory pressure is also low.
• Example: cross borderE-commerceSellers sell snow boots on Amazon, and the pricing directly ignores Chinese sellers, which is to compete with foreigners.
• Compete with foreigners, cheaper than foreigners.
• For example, well-known foreign brands cost more than 100 yuan, and domestic peers' miscellaneous brands cost XNUMX to XNUMX yuan.
• For seventy or eighty yuan, the material and quality are similar to those of well-known brands, after all, the same assembly line.

Don't blindly invest in expansion

• Especially in unfamiliar fields, don't throw money at random.
• After doing business for a long time, you will find that you can make money even if you lose less.

6 high standards:

1. High threshold and high scarcity
2. High repurchase
3. High Growth and High Ceilings
4. high referral rate
5. High customer unit price
6. High gross profit

High threshold and high scarcity

• Bring low competition, can have a net profit rate of more than 20%, and can continue to earn more money in the long run.
• Where is the high threshold?I interpret it as the scarcity of supply, that is, there are one or two links that are scarce.
• Scarcity is the highest threshold.
  
• For example, your supplier resources are scarce.
• For example, if you are a physical store, you are buying a scarce lot.

High repurchase

• The perfect business model is to repurchase for life.
• Highly repurchased products, such as: coffee, tea, health care products, etc...
• High repurchase, perfect high repurchase business also exists, but it is extremely difficult to meet.
• So I lowered the requirements for this item and changed it to a 5-year repurchase cycle, which is already very good.
• Of course, finding the perfect high-repurchase business is even more invincible.

High Growth and High Ceilings

• Industries that have been developing at a high speed and with high ceilings, such as beauty makeup (this is a prerequisite for a company to grow bigger).

high referral rate

• Viral marketingIt is possible to create a miracle of high referral rate, and the head can occupy more than 50% of the share.

High customer unit price

• Filter the poor and select high-quality people with purchasing power.

High gross profit

• Combining the above (6 major directions + 6 high standards = 12 major methods), the company can continue to make money, and the net profit margin will be higher.

So now when starting a business or doing a new business, look at it again with the 6 major directions and 6 high standards to see a newer angle.