Module For Capstone
Module For Capstone
Module For Capstone
Gemar E. Estrella
Cor Jesu College, Philippines
Email: [email protected]
INTRODUCTION
Increasing online sales is the primary goal of many businesses, both large and small.
Increasing sales through online channels, whether you run a Ukay-Ukay business or sell
Beauty products, is similar to bowling a strike - it appears to be a lot easier than it actually
is.
Fortunately, there are dozens of ways to increase your online sales, many of which you
can put into action right away. Some of these suggestions are more specific in nature,
while others are more general.
Consider the benefits of learning more about your product. You will gain a significant
advantage over your customers, competitors, and other salespeople if you know more
about it than they do.
Why is product knowledge essential for sales success?
1. Product knowledge increases enthusiasm.
To be a successful salesperson, you must have faith in your product. Knowing exactly
what you're talking about can help boost your enthusiasm. If you know your product
inside and out, you can provide information as needed, and your enthusiasm will be
natural.
3. Product knowledge
allows us to feel like
experts.
Sales don't always have to
be about the prospect;
knowing your product well
can make you feel
accomplished as well.
6. Product knowledge enables you to continue learning and discover new benefits to
offer prospects.
You will eventually discover more and more ways to leverage these advantages with
each of your prospects. If the product has hidden uses, you won't be able to articulate
them to your prospect if you don't know what they are.
10. Product knowledge is extremely valuable. The ability to help you close more sales.
2. START SMALL
Starting a business, let alone an online business, can be intimidating. While an online
business has some advantages, such as low overhead costs, its most significant
disadvantage is that you are competing with so many other businesses for your
customers' attention.
With that in mind, here are five online business success tips that, if followed, will help you
and your company stand out and achieve your objectives:
1. Be Authentic
Your business, no matter how big or small it is at the moment, is an extension of you. It
will be successful or unsuccessful based on how others perceive your brand and,
ultimately, how they feel about doing business with you. Make certain that your products
and services live up to the standards you set for your customers.
The key is authenticity. You must
be yourself, whether you are
smooth and sophisticated
or have rough edges and
an attitude to match. Only
you know
what works for you and
your target audience, but
failing to be authentic is a
sure way to fail.
2. Exceed Expectations
Set goals for your
products and services and
strive to exceed them; it's
as simple as that!
This is especially
important with your initial
offerings, because a good first
impression can lead to a slew of repeat customers. Imagine the joy on people's faces as
they realize they have gotten the better end of the deal! It is your reward for providing so
much value at such a low (or relatively low) cost. Expectations will always be high, which
is exactly what they should be. Over-delivering entails always going above and beyond
the call of duty in order to become not only a viable business but also a market leader
that others admire and envy.
3. Focus on serving rather than selling.
Remember that the goal of a customer is not to make a sale, but rather to get a
customer. Make their first purchase with you a memorable one, and they'll return to buy
your products again and again, increasing the lifetime value of your customers and
maximizing your revenue.
Learn how to identify the problems, concerns, and issues that your target market faces in
order to better create and position your offerings as the best solution in the market. The
more effectively you can relate to and speak to them through copywriting, the more they
will realize you truly are the solution to their problems.
Knowing your "why" allows you to make decisions that support you and lead you down
the path you've chosen. Of course, when making major decisions, you should consider
other points of view and questions, but once you know you're making the best choice for
you, make it with confidence.
4. Understand who you are and what you are not willing to do.
Knowing what you are and are not willing to do allows you to step outside of your
comfort zone and interview someone you don't know for a blog post. Or, you may
decide, "No, I'm not going to approach this global firm because I'm not ready to work at
that level yet, and I realize that choice may mean I won't create as much opportunity or
income this year."
Also, prioritize and value your priorities and values in order of importance. This can assist
you in evaluating options and making executive decisions. For example, if you care about
environmental protection, you are unlikely to pursue a project with a company that is
known to harm the environment.
You require this knowledge; without it, you may give up too soon or be swayed by the
opinions and suggestions of others. People may say things like, "You should give up and
get a job," "No, don't go out on your own," or "If you're not making enough from this
and need to keep working a job to support yourself, you don't have a business." What
they say is often influenced by their beliefs, frame of reference, experience, and
personality rather than a desire to discourage you. Consider their perspective, and keep
in mind that what they say may not be true, or at least not for you.
5. Create a timetable.
Create a detailed timeline if you need extra money for the next year to continue doing
the meaningful work you enjoy. It should include specific methods for maintaining a
consistent income to avoid experiencing so much anxiety and stress that you almost
forget how much you enjoy your work and why you want to do it.
6. To get things right, expect some trial and error.
When you're doing the work of starting a new business or project, you'll discover what
works and what doesn't. You'll also discover what your ideal situation looks like. You may
begin by thinking you want to work with individuals only to discover that working with
organizations is a better fit for you. Or perhaps you think you want to create courses but
realize that what you really enjoy — and what helps you — is one-on-one coaching.
Finally, as you embark on your new venture, support the model of what works for other
small business owners, entrepreneurs, and freelancers! Recognizing and honoring the
various paths we each take is essential. It encourages us to support one another and
fosters a diverse community of creators, small business owners, self-employed
individuals, and entrepreneurs.
4. ESSENTIALS TOOLS
There are numerous tools available to make your life as an online entrepreneur easier.
Some of these items will be more useful than others, so we've whittled it down to the
top ten must-haves for starting an online business. This list includes everything from
software and hardware to tools you can use on a daily basis.
1. Laptop or computer
A computer or laptop is required for online businesses because you must be able to
access the internet and your business files from any location. A laptop also allows you to
work from any location, which is ideal for entrepreneurs who are constantly on the
move.
You'll also need a dependable computer to run useful software for a variety of business
tasks like email marketing, word processing, blogging, website creation, and more.
You probably already have one, so you don't need to spend money on it.
2. Internet Connection
A dependable internet connection is critical for online businesses because it allows
employees to communicate with clients and customers. It also provides employees with
access to critical files and documents. Furthermore, a dependable internet connection
allows businesses to stay
in touch with their
customers and
clients.
Depending on the
quality of your
internet connection,
you may need to
subscribe to multiple
service providers to
ensure that you are
always connected.
3. Smartphone
Smartphones are
ideal for running a
business because
they enable you to
stay connected to the internet and your customers regardless of where you are. You can
use your smartphone to photograph your products, respond to customer inquiries, and
even process payments.
If you're starting an online business, you'll need a high-quality camera to capture high-
quality images and videos of your products and services. Customers will be more trusting
of your company if you have professional-looking photos and videos.
A high-end smartphone may be sufficient for producing high-quality images and videos.
4. Accounting Instruments
Accounting software is a critical business tool because it allows entrepreneurs to keep
track of their finances. This software simplifies the creation of invoices, the tracking of
payments, and the generation of reports.
5. Customer care
Customer service is one of the pillars of any self-respecting business. Despite significant
advancements in automation, clients still prefer to speak with real people whenever
possible, so incorporating a live chat or having a dedicated customer sales rep on-hand to
answer calls is critical. There are services available that aim to streamline the process by
providing both automation tools and features designed to improve customer satisfaction
and increase your bottom line, such as LiveChat. In this regard, collecting customer data
is invaluable because it provides valuable insight into how your customers interact with
your website and which products pique their interest.
As you can see, there are numerous areas where using the right tools and apps can help
you take your online business to the next level. As the number of e-commerce websites
continues to rise, the way you organize and structure your business, as well as the quality
of your services, will help you stand out from the crowd. Take the time to look over the
solutions presented here and select the ones that make the most sense for you and your
business.
5. MODE OF PAYMENT
Why Do Businesses Need a Variety of Payment Options?
Commerce truly has no borders in today's global economy. Customers and revenue can
come from anywhere, which gives both established industry players new opportunities.
Nonetheless, despite the ongoing innovation and fintech disruption with AI and real-time
payments, online merchants are setting boundaries for some clients without even
realizing it.
Overall, online payment challenges may be addressed by providing a variety of card
payment options and alternative payment methods (any form of payment other than a
credit card) to online merchants and B2Bs, which eventually speeds up the purchase
process (especially on mobile) and lowers shopping cart abandonment rate. The
preceding is true on both the consumer and business sides, especially for merchants
looking to expand their e-commerce business internationally and increase their customer
base. Let's take a closer look at the advantages that diverse payment options provide for
major e-commerce stakeholders in general.
6. RELIABLE COURIER
Do you have access to couriers and delivery services that will make your life easier if you
run an online business? A good courier service at your disposal is unquestionably a
fantastic link between you and your customers.
Some business owners are hesitant to use courier services. This could be due to a
previous negative experience with third-party delivery services, or it could simply be that
they are unaware of the benefits of outsourcing their product shipments.
On-time delivery
When it comes to product deliveries, whether you're a customer or a business owner,
time is of the essence. This is especially important if your products are perishable or time-
sensitive. In these cases, the courier service you hire should make on-time deliveries.
Furthermore, couriers are much faster than the post office. Look for couriers who have a
proven track record
of delivering items
on or before the
estimated delivery
date. Your
customers will
receive their
packages on time
as a result. Expect
repeat orders!
Correct handling
A reputable
courier service has
a reputation for
delivering goods
in good condition.
Aside from speed, your
customers will most likely expect that the shipment will not be mishandled.
Do not be afraid to inquire about how your goods will be handled from pickup to
transportation and delivery.
Fortunately, most modern couriers provide delivery tracking systems to assist you in
determining the location of your shipments. Some couriers provide tracking options such
as email, web app, SMS, and phone call. This process applies to both bulk shipments from
suppliers to your warehouse and product deliveries from your stores to customers.
Customers who are pleased
Even if your product is fantastic, sending it to them days after the expected arrival date
may irritate them. The same is true if the package appears to have been mishandled and
is in poor condition when it arrives at your customer's door.
In other words, dependable shipping partners ensure that your clients' shipments arrive
on time and in good condition. Look for delivery companies that can make this promise
and have a long track record of satisfied customers.
Your clients will be more than happy to place additional orders if you partner with
reputable couriers.
By hiring the right courier, you can avoid the following problems that online businesses
frequently face:
Raffles and giveaways have the net effect of making your brand memorable, piqueing
their interest and leaving them wanting more.
Here are some ideas for making the most of raffles and giveaways.
Provide an Outstanding
User Experience
If you want to give
away a large prize such
as cash or a valuable
item such as an
expensive car. In
addition to investing
thousands of dollars, you should devote some time to making your giveaway or raffle as
appealing and user-friendly as possible. After all, no matter how grand your prize, users
are unlikely to participate if the promotion is difficult to use or find.
You can test the campaign and make it omnichannel to ensure maximum visibility across
multiple sites. It is critical to conduct research on the legality of your prizes as well as
what winning means for your business and the winners. This is because it can be
aggravating for both parties when winnings increase the winner's stress and vice versa.
Despite the fact that technology has paved the way for more convenient and cost-
effective marketing strategies, traditional raffles and giveaways remain some of the most
effective marketing techniques available today. The nexus of successful giveaways and
raffles is a well-thought-out prize—and the ideas mentioned can help you find the best
ones to engage with the audience more and expand your reach.
Hard work and dedication go hand in hand because they teach us discipline,
determination, and dedication. Together, we can achieve success.
Be Specific
What are your true strengths? Be specific. It may not be the same for all types of
customers. It would
have been
problematic if this
same company
simply stated,
"We're the best
rocking chair out
there." Some people
believe that the best
rocking chair is the
cheapest. Perhaps
the one with the
best design. This is
not the case with
this company. Make
sure your message on
your marketing channel is based on truth that your customers can relate to.
Honesty is an important business characteristic because it sets the tone for the type of
work culture you want to foster, provides consistency in workplace behavior, and fosters
customer and prospect loyalty and trust.