How SMEs can increase their online sales

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Writuparna Kakati | 25 Apr, 2009
Small and medium businesses (SMEs) which have build a professional online presence through their own websites or registering to a B2B portal (or in any other way) often complain that they have never seen much return on their investment, nor even enough queries. Once bitten they never try again.

Does it mean that online business should be avoided? If you are a small or medium business engaged in export, it is a tough thing to do. Unless you have a lot of money that is burning a hole in your pocket, you cannot imagine of your company ads on billboards alongside every busy highway on this earth. Nothing can be more cost-effective than going online to reach potential customers in the global market.

But how to succeed online? Why many SMEs fail while only a few of them see considerable increases in sales through their online activities? How a SME can sell more online?

Build a foundation for your business website
The first and foremost thing you need to care about is to create a strong online foundation for your business. While creating your website, consider it as a very important investment. Plan carefully right from the initial stage. Your business website should contain A to Z about your company, products or services, your competitive edge, infrastructural strength, and sales and service network. Plus, the website content should be (in fact, must be) well written, relevant, information-rich and up-to-date. Do not try to blow your own trumpet, it gives a negative impression (you cannot fool those smart international buyers with some superlatives like 'the best product', 'the cheapest rate ever', and so on).

Look for B2B portals, choose carefully
If you don't have your own website, you can look for a B2B service provider (In fact, it is advisable to subscribe to a reliable B2B portal even if you have your own business website). But even then, get your web page designed as you want. Tell them what you want to be there in your website; also imagine yourself as a buyer and check the website content once and again.

In these days, you will easily find a hundred of B2B service providers online. Just type B2B on Google search and it will fetch you so many of results. But be careful in choosing one. Don't let yourself persuaded by (neither neglect) terms like 'country's number one' or 'world's number one'. Just check what are the services offered, how much a membership costs, and how much reliability you can expect. Do not pay much to one particular service provider; instead look for reasonable rates and, if possible, don't hesitate to subscribe to two or three of the portals you think good enough.

How to build credibility online
In online business, the most important and toughest part is to create credibility and trustworthiness. No matter whether you go online creating your own website or just by subscribing to a B2B portal, for you, as a SME, it is always very difficult to influence potential customers online without meeting them face to face. Think as an online buyer: you know nothing about the seller, neither know whether it really exists or not, and cannot afford travelling a foreign land to confirm it. So, as an online seller, you must be able to build credibility to persuade potential customers about your honesty.

The secret to on-line success is building credibility. But how can you to do it using your website? There is no magic bullet to convince your potential customer but a few smart tactics can certainly make a lot of difference. Find some example below,

Put a photograph of your office building or of stalls in trade fairs you participated.
Show a scanned copy of your membership certificate you received from a professional organization.
Give email addresses of your satisfied customers, make a 'post testimonials' section.
Give physical address in detail, give your office phone number on the contact details page.

Add value to your website
Just investing a lot of money into your website or subscribing to a costly B2B service which promises 'money return guarantee' does not mean that you are going to succeed online. What is more important is to add value to your website for your current and potential customers. How can you do that? It depends on what you sell. For example, if you are a manufacturer of traditional jewellery, you may consider publishing content in your website history of traditional jewellery, how the art of jewellery making has evolved throughout the years, etc. A medical equipment manufacturer, for example, can put information about the latest trends in the industry in its website.

If you are considering subscribing to a B2B portal, it is better to look for one which offers a range of services to its clients - both buyers and sellers (some B2B portals offer features like 'make a free call', send free SMS and many more).

Compete online, analyze competition
To succeed online, you must compete; online promotion is one of the element of effective online marketing. If you have your own business website, it is better to learn some online promotional methods like SEO (Site Engine Optimization), SEM (Site Engine Marketing) and different aspects of online marketing. However, if you are a subscribed member of a B2B portal and have no website of your own, you need not worry about these buzzwords; your portal will take care of these things.

While doing business online, you need to be smart about online to analyze your competitors, their online presence, how much market share they garner from their online operations, etc. It will give you insight into how and where you need improvements.

Put efforts offline for your online business
Researches have revealed that online search activity is often affected by offline advertising. It is most likely that target customers, who are already aware of your offline presence, would search for your products online. So, leave no stone unturned to boost your online presence through offline efforts. Include your website URL on product packaging, print your business cards with details of the web address on it, put the web address on each page of your corporate presentations, include it in any employment ads, and brand your product brochures and every promotional item with your web address.

In online business, people come to your website and are exposed to your message. It is a one-way communication process where you do not get the opportunity for a natural two-way dialogue. Therefore, to be successful in online marketing, you need to have the right approach and the right tools. It is the only way for SMEs to increase their online sales.