When we think of selling online, we tend to think of services like eBay or Amazon, which are options for product-based businesses. However, if there is anything the pandemic has taught us, it is that most businesses can sell effectively online. It isn’t just for retail or product-based businesses anymore.

Selling products and services online means finding a digital way to supply a product or deliver a service. Many businesses who thought that they would not or could not sell online are discovering that not only they can do it, they are making a profit while doing so. 

When planning to go online evaluate your hardware needs. Many businesses are limiting their spending at the moment, but the good news is upgrading technology is covered under the government’s 150,000 instant tax write off.

 

Under the instant asset write-off, eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or installed ready for use.

Instant asset write-off can be used for:

• multiple assets as long as the cost of each individual asset is less than the threshold
• new and second-hand assets.

There are many things to consider when making purchases such as new computers, web-cameras, video conferencing microphones, headsets or even lighting. For example, a home studio to take photos of new products to post online. Each business will have its own needs, and as the current situation changes the business needs will too. The most important thing is to understand is that any equipment’s ultimate goal is to make the offerings really stand out to new customers. Be sure to spend the necessary amount of time and money to figure out what is critical and invest in that. Be sure to reevaluate periodically over time and make new purchases when needed.

When offering new or adapted services online it is important to open your mind to what is possible and get creative. There is innovation happening in the world right now with online services. Bars are selling tickets online for limited seating on Friday nights. Gyms are streaming live classes on Zoom. Business training is taking place through online learning platforms. Most things that took place in the physical world can and are being done online. Think about what current services can be structured so they can be conducted online. Some things will need to change, but it is easier to start with something that currently exists rather than having to start completely new.

For product-based businesses most of the work comes with creating listings online. It is important to note that online competition in ecommerce is only going to grow. Ensure all websites are up to date with current integrated payment systems, customer service chat options and more.

It is critical that websites are SEO compliant. They should be structured with the appropriate searchable tags and a site structure that leads a shopper to the exact item they are looking for. If a website hasn’t been upgraded or had an SEO audit recently this is highly recommended before spending time and energy in listing items or investing in plugins or templates that may not work for the business. While most businesses are conscious of costs, this is definitely not the place to reduce spending. A well-constructed website is critical to ensure all further efforts of time and money are not wasted.

Once all equipment has been purchased and the website is up to date, it is time to get selling! This can be done with social media or with paid digital ads. This can feel very daunting if this is a new type of activity. The most important thing to consider when posting online is to be very clear about the value of the offering. For example, for an online cooking class, explain what the person will learn, how they can apply their new skills in the kitchen and show why your class is the best one to attend. If you are able to explain your value clearly, it takes the guess work out of it for your clients. 

A study of 25,000 consumers across 30 markets showed engagement increasing 61% over normal usage rates. If you are wondering if your clients or customers are online, the answer is yes.

Taking the leap online is not a nice to have any more. It is critical for business continuity, to ensure all businesses have a future. If you would like more information on how to budget or structure costings for online sales and services please get in touch. We are always happy to help.