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After surviving a pandemic, business owners understand the importance of planning and anticipating the future. A successful eCommerce company must always adapt and change to take advantage of ever-changing opportunities. This way of thinking allows for long-term business success.
In some way, shape or form, every business will have competitors in their space, They can be first to market, think Uber and Apple. However, the first to market or first mover advantage only lasts for a short time.
Kozler is a growth agency that helps businesses grow by focusing on outcomes and growth rather than the "what services we offer approach." This means we look at a business as a whole and determine what needs to be done to achieve its goals, objectives, and mission.
In times gone past, when a business owner wanted to take their business to the next level, they would start increasing their marketing or maybe get a new website. Because that's what they need to get more customers, right? So the logical next step would be to contact a marketing agency or a web developer, right?
A target market can be defined as a group that shares common needs and problems that your business solves. This can be individuals or organisations. Remember that ultimately, the decision-maker in a business is still an individual. Some examples of target markets can include:
In the clients mind you are their go to for the thing that you sell or service you provide. You have done an exceptional job at retaining your customers. Now you want to think about how you can get your loyal customers to increase the frequency of purchases they make per year.
The total cost of inventory sold during a given period of time. The expenses that are directly related to getting that product sold.
So from the title of this article, you might be wondering what you are missing? Your accounting software spits out a pretty report telling you what your costs of goods sold is, right? So, is this number telling you everything you need to know?
It is a word of mouth marketing tactic that incentives customers to refer your services to a friend. The purpose is to attract new leads to a business. Often leads that come through referrals are primed and ready to go because a friend has referred them.
It's quite simple really, the average value of a single purchase by customers over a given time period. Most ecommerce or accounting software will help you to easily find this number.
