There is a lot of research that goes into adding a new location for a retail operation. Along with the research there is the need for capital, which can be the biggest hurdle for many business owners. However, there is a way to expand without adding a new location and it’s through marketing your business correctly. Bringing consumer financing options for your customers is also something that can help you expand your business.
If you’re currently only making sales through a brick and mortar retail shop, consider going virtual. Ecommerce is a multi-billion dollar boost to the economy, and there is money in it for you as well. Creating an online store expands your customer base from your local residents to anyone anywhere in the world. Some retailers that jump into the online selling method report seeing up to 80 percent of their orders coming from new customers.
You have total control over how your online store will look and feel, which is often best managed by a web developer and designer who will work with you to get the branding down perfect. However, you can also take your goods to established marketplaces, like Etsy, eBay and Amazon. It’s worth more than just a consideration – you should be jumping on the Amazon, Etsy and eBay train.
Optimize for Mobile
If you haven’t already optimized your company’s website for mobile, you’re behind the times. People spend more time online on their smartphones than they do on their desktop and laptop computers. If your site isn’t optimized for mobile use, you’re definitely missing out on opportunities. Work with a developer to get your site mobile friendly and you should see more online orders coming your way.
The best mobile sites offer easy-to-use icons that allow you to find the store on a map or call the store by simply touching the phone number. Even if the consumer doesn’t make a purchase through their phone, they’re likely gaining information about your products so they can make the purchase later from home on their desktop computer or go directly to your store and make their purchases there.
Offer Consumer Financing
Studies show that when a retailer offers consumer financing, they make larger sales. Furthermore, because of the consumer financing perk that you offer, consumers develop a sense of loyalty to your brand, which equates to longer relationships and more return business from them. This loyalty can also turn into a situation where the consumer talks up your brand, earning you free advertising, essentially.
The HELPcard is a company that has for more than three decades served prime and near-prime consumers with consumer financing. We can partner with you to establish a program that will be a perfect fit for your business. Furthermore, and perhaps more importantly, our program will be a perfect fit for your customers. Contact us today and let’s talk about a strategy for expanding your business with consumer financing.