A business no longer needs its own channel to market. The growth of third-party marketplaces like Amazon (who sell almost everything) or specialist sites like Etsy (selling mainly art and homewares) allow you (as an independent seller) to list goods or services which they promote to their database of customers. Yes, they may take a fee, but the benefits may include low set up costs, easy product listings, access to their customers and payment processes set up for you.
Investigate where your industry is actively selling and decide if it’s worth trying this as a channel to reach new customers to complement how you sell.
Paying a monthly fee is increasingly embedded into our way of buying, where we’re willing to commit to recurring payments in exchange for continually updated products or services. Netflix, Disney, Apple are good media examples. It’s increasingly common for apps to use the same model.
But you don’t need to be a tech company. Professional services (such as accountants and consultants) and consumables (food and beverage are good examples) have started to charge customers a monthly fee in return for regular work or delivery.
What can you sell or provide where customers pay you monthly?
One of the great things about running an online business is the flexibility it provides where you don’t have to choose just one to make money. Participate in social media to identify how your customers prefer to buy from you and stay informed about the best new business apps and what is relevant in your industry. Finally, as you look to grow your online sales consider the use of search engine optimization and search engine marketing to drive online leads.
If you want to talk about your business banking needs, feel free to contact your TD Account Manager or find an account manager near you.