Over recent years, technological advances and increasing customer demands within the eCommerce space have increased the need for productivity. With more and more aspiring entrepreneurs launching new eCommerce stores, online business owners must focus on efficiently managing their business and fulfilling orders to gain a competitive advantage.
In a formal sense, productivity refers to an organization’s ability to convert input (such as labor, materials, and capital) into output (goods and services). Today, productivity isn’t about measuring ratios about inputs to outputs—it’s about working smarter. Whether you’re looking to boost revenue, scale your business, or streamline day-to-day operations, here are five productivity tips to help you run your eCommerce business.
Manage Your Inventory
Well-organized merchandise is not only easier for customers to shop, but it’s also easier for you to manage. Investing in eCommerce software can help you separate your products into categories, and you’ll also be able to create specialty categories like gift ideas or promotional items to drive more business. Effectively managing your inventory can also help you monitor customers’ buying behavior, and interests. It will also help you learn what motivates them to buy your products.
Declutter Your Workspace
Your work environment can have a significant influence on how you work. While cluttered and disorganized spaces create distractions, organized spaces promote mental clarity and focus. If you’re not sure where to start, clean your computer desktop and organize important documents into sets of folders. Keeping a clean and organized desktop can help your computer run more smoothly while reducing time spent searching for documents.
To keep your physical workspace organized, consider separating your space into zones for paperwork, computer work, and storage. Investing in organizational tools like multipurpose tax envelopes and pocket folders can not only help you keep important documents and resources in a safe and secure spot, but custom stationery can also help you establish a professional image for your business.
Invest in Full-Service Fulfillment
According to a recent study, 73% of online shoppers report that shipping cost and speed are essential considerations when making purchasing decisions. These days, customers expect two to three days for delivery but don’t want to pay for shipping. While marketing techniques like promotional offers and minimum order sizes can help drive orders with free shipping, re-evaluating your current supply chain can reduce costs to make free shipping a competitive advantage instead of a financial drain.
To keep up with increasing demands from customers, eCommerce businesses need to invest in the development and implementation of advanced logistics solutions. While packing and shipping your own orders is a flexible and cost-effective option, full-service fulfillment can help you scale your business more quickly, boost business, and satisfy your customers. In addition to inbound, inventory, and order management, some logistics companies also offer dedicated facility management, scalability for warehouse services, and multichannel marketplace solutions.
Set a Schedule
If you’re new to working from home or running your own business, it can be difficult to manage your eCommerce business efficiently. Creating a work schedule with daily to-do lists and tasks can help you stay organized and productive. Consider setting up notifications or email alerts to keep track of new sales and customer inquiries, which can help you boost shipping speeds and improve customer satisfaction.
Whether you’re building your website, creating new blog content, or reaching out to potential clients, focusing on a few tasks each day can help you grow your eCommerce business.
Create Realistic Goals
Setting realistic goals for your eCommerce business can give you a clear idea of where your business stands, allowing you to set realistic and achievable goals. Create a spreadsheet with key metrics to track for the quarter, and add data from your last quarter to the spreadsheet. Creating a scorecard with past data can provide accountability for you and your team.
Focusing on metrics like revenue, average order size, and shipping time can help you analyze your company’s weaknesses, strengths, and opportunities. Regardless of the metrics you choose to track, it’s essential to set clear goals and create plans to reach them. For example, if you want to increase your average order size by 25%, you might change your marketing strategy to increase your traffic and conversion rates.
All in all, finding productive ways to manage your business and stay on task can help you fulfill more orders and run your business more efficiently.