Yes, Virginia, you can sell through your own online store while also selling through retailers. But it’s a tightrope walk. In today’s episode, Lorex Technology’s Director eCommerce and digital services, Sufi Khan Sulaiman discusses the techniques his company has used to sell its products online and through retailers at the same time.
Strategies to minimize channel conflict
- Sell different products online from those you sell to retailers; make sure the retailers get new products first.
- Offer special promotions to specific retailers, and do not offer the same deal on your site at the same time.
Remarketing: Don’t let that sale slip away!
You will be hearing a lot about remarketing in 2013. It is a way of tracking peole who visited your site but did not place an order, and then having them shown your ads as they browse other sites on the Web. Google advertisers have been doing it more and more lately, and there are other advertiser networks, like Adroll, that do it too.
Some people also use the term “remarketing”, as Sufi did, to refer to contacting prospects who started to fill in an order form but did not complete it. Since you have their e-mail address, you can send them a note offering help, more information, or simply asking why they stopped (in a nice way, of course) and offering them a discount to finish the order.
Affiliate marketing – A big, instant sales force, but at a price
Places like Commission Junction and Clickbank let people select products they think they can sell. If you want them to sell yours, you sign up as a vendor, and offer a big commission (often 50% or more) to get this team going.
Here are a few tips to make affiliate marketing work for you:
- Make sure you have a product that can be sold easily, with minimal product knowledge.
- Provide some product knowledge and great marketing materials to your affiliates.
- Ensure that you can afford the commission rates.
- Get to know your affiliates, especially the good ones. Make them feel special.