When you get through the holiday sales season and emerge on the other side of a new year, you probably feel something akin to relief. Your e-commerce business did well, but thank goodness that insanity is over, right?
Well, sort of. According to comScore, retail digital commerce in the first quarter of 2017 was the first ever non-holiday quarter to exceed $100 billion. With the potential for a stellar Q1 2018 in mind, carry the 2017 holiday season’s momentum into the new year and focus your energy on productivity boosters and strategic planning. These four resolutions will help you hit the ground running and make 2018 your e-commerce company’s most successful year yet:
1. I plan to delegate.
Ever heard that phrase “Jack of all trades, master of none?” You don’t want that to be what you’re known for, and you don’t want to burn yourself out trying to be that either. In 2018, learn to delegate responsibilities to others or automate more of your processes. With the hiring of the right people, the investment in modern technology, and with comprehensive training, delegating tasks to others will actually put your mind at ease.
2. I plan to stick to a set schedule.
How many hours do you and your employees reasonably need to work to keep your e-commerce site running smoothly? If it exceeds 50 hours a week, then it’s time to do some hiring. If it doesn’t, then it’s time to look at how you can maximize that time. This means scheduling time weekly for:
- Business strategy planning
- Cash flow analysis
- Website, marketing, and sales progress reviews
- Inventory check-up
- Team meetings or training
And don’t forget to pencil in “me” time. Your ability to maintain a healthy work-life balance will directly affect how well your business is doing, too.
3. I plan to stay on top of my finances.
Before beginning this one, be sure to review what happened with your cash flow last year. You need to understand the ebb and flow of your e-commerce traffic and sales, so you can accurately predict what will happen in 2018.
Then you can put a financial management plan in place. This should entail regular reviews of your cash flow to determine whether the costs for your products, services, shipping, and other associated fees need to be adjusted to improve those margins.
4. I plan to promote my business every day.
Marketing is not something you can do only when you feel like it or when you remember to do it. This is a daily necessity for the long-term health of your e-commerce business.
Start off 2018 strong by reviewing what happened over the last year and determining what didn’t work (and needs to go) and what did work (and needs a bigger boost). Then develop your content marketing and product promotional strategy as soon as possible. When developing your plan, be sure to should address all major e-commerce channels:
- Your e-commerce website
- Email marketing
- Social media marketing
- PPC advertising
The holidays are over, and you’re hoping for a bit of a breather before the next round of consumer chaos hits your e-commerce site. While you might not get that break, there are some simple resolutions you can follow that will make things easier for you in the new year. In prioritizing productivity and greater visibility into the daily goings-on of your business, you’ll be able to make 2018 your most successful year yet and without breaking a sweat!
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