Given the huge revenue potential, companies of all sizes are moving towards online sales. However, building an e-commerce store can be a daunting task, especially if you are designing the site yourself. Where do you start? How do you attract customers and generate sales? What tools are available to streamline the purchase process for your end user?
Prior to launching your e-commerce site, Daryl Shaw strongly recommends you develop a strategy. You should analyze your business and answer a few questions.
- What are your business goals?
- Who are you trying to reach? Are you targeting a local, regional, national or global market?
- What are you selling and what is your campaign strategy and message?
- What is your marketing budget? “Knowing what you are selling and how you want to describe it also plays a key role.”
- Are you creating awareness, promoting a sale, or trying to clear inventory?
- What are your expenses? “Many companies new to e-commerce abandon their site due to excessive shipping costs which negatively impacts their profit margin. Thinking through your strategy in advance provides a clear path for e-commerce success.”
“Determining where your online store resides must also be carefully considered. You have two options: You can use an existing marketplace such as Etsy or Amazon or manage a website and brand that you create. Whichever option you choose, you’ll need a merchant account so you can accept payment from your customers. There are several options to choose from, including PayPal, Stripe and many others. Make sure you to account for merchant fees in your initial projections,” said Shaw.
Daryl Shaw, a Wake University graduate, spent several years in corporate America at VF Corporation, Hanesbrands, and Henkel before branching out to start Royalty Marketing in 2008.
“I wanted to have a trajectory to invest my creativity into while also helping business owners move their image forward,” said Shaw.
Royalty Marketing specializes in a variety of disciplines including social media campaigns, website development, graphic design, photography, apparel, makeup design and pretty much anything and everything relating to brand development. Royalty LX, the entertainment segment of Shaw’s business has celebrity “royalty” on its roster. Household names such as comedian Kevin Hart, basketball all-star Shaq, Destiny Child’s Kelly Rowland, and several others are just a few who have contracted Royal Marketing services. Shaw credits much of his success to delivering a quality product as well as networking with others
Join us for Swerve hosted by the Center for Creative Economy on Thursday, February 15 to learn e-commerce strategies with Daryl Shaw, owner of Royal Marketing. The program starts at 11:30 a.m., ends at 1 p.m. and will take place at the Center for Design and Innovation, located at 450 Design Avenue, Winston-Salem. It’s free for Swerve members and $20 for non-members. Lunch is included. Registration is strongly encouraged.