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10 Lessons That All New Business Owners Must Heed In The Modern Era

Strategy Driven

From here, you can ensure that SEO , ad placements, and other marketing tools are built to reach the right people. Supporting yourself with FAQs, chatbots, and fair returns policies will also help. For example, food retailers can donate food to homeless shelters. Therefore, learning how to find your niche audience is key.

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Online Retailers Should Care More About the Post-Purchase Experience

Harvard Business Review

Lafley, who at the time was CEO of the world’s largest advertiser, Procter & Gamble, introduced a marketing concept he called “the moment of truth” for building brand loyalty. Today, retail brands create customer experiences around these four moments and focus on driving shoppers to click the “buy” button.

Retail 10
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Sell Your Product Before It Exists

Harvard Business Review

Coin’s makers first launched a $50,000 crowdfunding campaign and, after hitting their goal inside of 40 minutes, are continuing to take pre-orders at half the future retail price. Coin has managed to test the market without ever actually releasing the physical product. It’s unknown how many units of the device have now been pre-sold.

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How to Strengthen Your Reputation as an Employer

Harvard Business Review

For example, McDonald’s has an online FAQ about how the company’s food products are made, while Southwest’s Transfarency initiative aims to give customers a clearer picture of the total fare they will pay, with no unexpected fees. Take outdoor apparel retailer Patagonia. Juj Winn/Getty Images.

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Smiles All Round? Tips For A User-Friendly Ecommerce Store

Strategy Driven

Many online retailers are also starting to use a co-browsing function. Live, human support always beats FAQs and waiting for an email. If you’re targeting a fairly wide target market, or offering both B2B and B2C products on a single store, then it’s also important to keep a flexible range of consumer financing solutions.

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