Find out the 2 step formula for building a 6 figure eCommerce business
Just this week, I’ve had several conversations with ambitious (but struggling) business owners. Some were start-ups, some who’ve been around for a while.
All of them have dreams of running 6 figure plus online stores, like my clients Kristy and Laura.
But right now? They’re on struggle street.
They all want to know: is it possible for me to achieve success like that too?
Now obviously, if a product is rubbish or there’s no demand for it, I would never give people false hope. I’m not here to flatter egos.
But where there’s a strong niche and a high-demand product? Hell yes!
The 2-step formula for building a 6 figure business
Step 1: Build an audience
Step 2: Sell them stuff
Let me illustrate what this looks like with a short story…
So, 3 blondes walk into a bar…
No, wait. That’s not the story I’m telling! Let’s try that again:
A whole lot of entrepreneurs open an online business selling similar products. (That’s more like it! Let’s keep going…)
There are shops open for business all the way along the Information Superhighway, some are raking in the sales and some are struggling to meet their budgets. Where is your business – are you in the fast-lane?
There is so much traffic and so much happening along the road that as a business, you really need to stand out from the rest to encourage customers to stop awhile and check out what you have.
And then you have to convince them to buy.
Pretty much every business has the basics happening: quality products, an attractive shopfront (aka website), consistent marketing and courteous customer service. So why the difference in their sales figures?
Many of the shops jostling for space along the Information Superhighway check each other out regularly.
Louise checks out Marjorie, who watches Sophie closely, who keeps a close eye on the activities of Kate and Helena. You get the picture.
When one has an influx of orders, the others notice that she is offering free shipping. Of course! Why didn’t they think of that? So they do it too.
Then one has the incredible idea of doing a once-in-a-lifetime sale! “Brilliant!” they all cry. “I must do this for my customers too!”
You can imagine what happened when one of the businesses established a presence on social media.
They were all onto it quickly and convinced that it would lead to the influx of customers and orders that they had been waiting for.
That finally their infamy and success on the Information Superhighway was assured.
But it wasn’t.
None of the strategies was the magic solution they hoped it would be and the traffic continued to flow past on the Information Superhighway. Sometimes someone would slow down to look a little at their products, but they rarely stopped long enough to buy as often as the businesses needed them to.
Sure, with each strategy they gained a few extra orders, but it was often the only time that customers stopped by.
“Why?” these businesses lamented at their virtual counters. “Why don’t they come back? I have everything they could want!”
The Louises, the Marjories, the Sophies, the Kates and the Helenas occasionally meet up to network. They are all out of ideas as to how to attract customers from here. They feel like they’ve tried everything, but this is their business – their livelihood – and they are desperate to make it work.
And, as I’m sure you have guessed, they noticed a business speeding past them in the fast way along the Information Superhighway. It offered similar products to these businesses, but their sales were going gangbusters!
Why the difference? Location was certainly not a huge factor.
“Why are customers bypassing us with our free postage, great products, discounts and fab service, to shop at Bonnie’s? What is she doing so differently down there?”
The businesses were at a loss to explain it, so they dropped by the successful business to observe what was happening.
Customers were browsing and filling their shopping carts in droves. They were lining up to check out. And they were leaving with bags full of products and huge smiles of satisfaction on their faces.
The customers were acting like kids in a lolly shop on pocket money day!
Why weren’t customers doing this in their stores? They wondered…
The truth is, they assumed that all they needed to do to stand out to their customers was offer low prices on popular products and shouting the loudest on social media.
They couldn’t have been further from the truth.
So what was going on at Bonnie’s business that was drawing all the customers in?
She knew what they wanted because she had engaged with them and sought their opinions. Then she had used that information to modify the shopfront and streamline her business practices.
She had a plan for her marketing that was targeted to her ideal customer (that’s right! She targeted her ideal, not every single person!)
She invested her resources in effective strategies that were proven to work.
She offered additional value to her customers that did not devalue or discount her products.
She was accessible to them. She offered her story and her values to them and these resonated with her customers.
They had a relationship with her and this kept them coming back to her.
She made their shopping experience exciting and pleasurable. Customers couldn’t wait to shop with Bonnie again!
But then, all this couldn’t be seen by just observing.
What Bonnie was doing couldn’t just be grabbed and copied by the Louises, the Marjories, the Sophies, the Kates and the Helenas because it was all so personal to her business.
They could see the effects, but couldn’t put their finger on how it was all happening.
Their perception of improving their businesses’ bottom line was focused on copycat strategies which only ever resulted in them becoming Brand Bland.
No personality or exciting shopping experiences. Not many customers stopping by to buy.
So Bonnie’s business grew and grew and she cemented her store into the fabric of the Information Superhighway, with dedicated customers who came back to her time and time again.
And the others? Well, they really just hoped for the best. It was all they could do.
Want to be like Bonnie but not sure what sets you apart from your competitors?
Stop fearing your competitors (or worse – copying them!)! Download my FREE “Uncover Your Unique Sales Proposition (USP)” guide and learn how to identify what sets you apart from your competitors – the number one step to attracting an audience of repeat customers and raving fans!