Running an online business involves more than just coming up with a business name, creating an online page, and accepting orders from your customers. Behind these things are tasks that you might never have thought of before starting a business.
Here are five things you shouldn’t overlook when running an online business:
1. Organizing your products
By organizing your products, things will become easier to find whenever you need them. It will also be easier for you to know whether you’re running out of a particular product. Here are some ways you can keep your product list tidy:
- Group your products by category. For example, if you’re selling shirts, you can create categories such as plain shirts, statement shirts, and couple shirts.
- Sort your products by variant. Clothes have different styles, beverages have different flavors, and stationery products have different paper types. Check how your products can be grouped based on their attributes.
- Keep a list of all of your products and update their quantity regularly. Whether you’re using a notebook or a spreadsheet, always be sure to update them immediately whenever you add or reduce the quantity of your products.
Bonus tip: Qarabao’s ‘Inventory Tracking’ feature helps you keep an organized and accurate product list. Here, you can sort your products by category and variant, and even see the number of products you have left in real-time.
2. Managing orders
With all the responsibilities involved in running an online business, some business owners forget whether their customers’ orders have already been shipped or paid. Here are simple ways you can manage orders better:
- Send forms to your customers where they can order products and choose their preferred shipping and payment option.
- Collect your customers’ orders in a spreadsheet or notebook — whichever is easier for you to use — where you can monitor their shipping and payment status in one glance.
- Prepare your products for delivery as soon as you can. If possible, pack them as soon as you accept an order from a customer.
Bonus tip: With Qarabao’s ‘Order Management’ feature, you can create and send order links to your customers where they can check out. You can even keep track of your orders’ shipping and payment status so that you can be sure that everything is shipped and paid on time.
3. Accepting payments
Provide as many payment methods as you can so that your customers can choose the easiest way for them to pay. Here are some of the things you can do:
- Take note of the payment channels that are commonly used by Filipino online shoppers. You should also have the payment channels that are frequently being requested by your customers.
- Consider making mobile application payments available. Many online shoppers today prefer sending payments through these applications such as GCash and Coins.ph.
- You should also consider offline channels such as banks and remittance centers, especially if you have customers who are ordering from distant provinces or are unfamiliar with how online payment channels work.
Bonus tip: With Qarabao’s multiple payment options, you can make paying as easy as possible for your customers. Here, you can activate online and offline modes of payment that are commonly used by Filipino online shoppers.
4. Keeping a customer database
Your customer database isn’t just for saving your customers’ names and contact information. Here are other ways you can make full use of it:
- Identify who your loyal customers are. Record all of your customers’ transactions and give gifts or special discounts to those who buy from you the most.
- Send email campaigns and text blasts. Not all of your customers will frequently revisit your social media pages. Remind them about your business by creating excitement through special promotions.
- Understand the profile of your customers. By saving their contact information, you can answer basic questions about their demographics: Are the majority of your customers male or female? Where do most of your customers live?
Bonus tip: Qarabao’s ‘Customer Relationship Management’ feature lets you keep a complete list of all of your customers. You can even see the complete history of their purchases.
5. Understanding how your business is doing
Know areas where you perform best and spot gaps that need improvement. Here are things you can do to better understand your business:
- Record every single peso that your business is earning.
- Compare your business’ expenses and income to see how much your business is earning. This will also help you become more cautious about where you want to spend your money.
- Create daily, weekly, or monthly reports. Replicate promotional efforts from days, weeks, or months that performed best.
Bonus tip: Qarabao’s straightforward ‘Reports and Analytics’ feature helps you easily understand your business’ performance without breaking a sweat. Here you can see how much you’ve grown in sales and number of customers. Here, you can also see which of your products sell best.
Have you overlooked any of these things before?
Which of the things above do you often overlook? With so many tasks involved in running a business, it’s understandable how you might miss doing some of them from time to time. Qarabao is a tool that helps you manage your business better by simplifying everyday tasks such as inventory tracking, managing orders, and accepting payments among others.