3 Tips for Product-Based Businesses

ahmed January 19, 2021January 22, 2021

If you’ve just started your own business, there’s probably a lot on your mind. From getting customers to purchase your products to discovering new ways to harness new distribution channels and business strategies, there’s a lot on any CEO’s plate when they’ve just launched a new business venture. That being said, just because the challenges are many doesn’t mean that they’re not insurmountable with the right approach. Every business is about the choices you make as a leader, and, especially when you’re just starting, this sort of decision-making matters even more.

While there are all sorts of places you can look for business advice, sometimes much of the advice you’ll find online or from books is too broad to apply to your company’s line of business thoroughly. A great example of this is the need for specific tips and tricks for running a business that sells products to consumers since a company that sells physical goods is different from a restaurant or a service or utility provider. Read on for a few tips that are sure to help you find success as you build out your product-based business.

1. Invest in the tools you need to help grow your business.

When you start a new company, it seems like the second you register your business, you start getting all sorts of solicitations in the mail and by phone. While some of these sales calls are for services and products that can truly help your company grow, others are just trying to take advantage of your newly minted status as a business. As such, it’s important to be cognizant of what sorts of tools you actually need to do business and which ones sound fancy or intriguing.

One helpful litmus test is to think about your industry and whether or not the tool you’re looking at will actually make an impact on your bottom line. For example, if you’re a bottle water delivery service offering great-tasting water to various consumers, the packaging equipment you use is important to consider from homes to businesses.

For example, if you’re transporting spring water or other beverages from one location to another, it’s important to have a strong case or carton to protect and store your products in. This is where it might be worth looking into case erectors manufacturers to find a case erector or case sealer capable of opening, squaring, and sealing cases. Different erectors have different pros and cons, so make sure to talk to your distributor about your needs before you go ahead and purchase a new case erector for your company.

2. Build out your e-commerce presence.

Buyers’ behavior has shifted tremendously as a result of COVID-19. As such, more and more people are buying goods online, which means if you don’t have a strong e-commerce presence, it will be easy to get left in the dust. Even if you also have a physical brick-and-mortar store, it’s important to ensure that you have an easy way for consumers to find and purchase your products online as well. Even post-pandemic, these buying habits are likely to stay around, making a fleshed-out e-commerce solution vital to any company wanting to business in 2021 and beyond.

3. Don’t be afraid to spend money on advertising.

Sometimes new businesses are wary of committing too much money to marketing efforts. However, after your business launch is the most critical time period to get the word out about your products. Nowadays, social media marketing offers a high return on investment (ROI) for small businesses and large businesses, with powerful segmentation tools to ensure that your ads get seen by the best prospects. Platforms like Facebook and Instagram even offer easy-to-follow, free tutorials to help you get your marketing efforts up and running, meaning you have no excuse to start marketing your products online!