Brief Intro to Social Commerce & Tips to Start Your Business

A Brief Introduction to Social Commerce & Tips to Start Your Business!

All of you must be aware of eCommerce, but most of you must not have been aware of social commerce, which is a new buzz in the town. It is a new way of selling your products to millions of customers. This feature is emerging throughout several platforms and creating new opportunities for all the small and big brands to sell their products effectively. This brand-new selling method has been increased deliberately during the COVID-19 pandemic because brick-and-mortar stores were not working.

The pandemic situation is the primary reason behind the emergence of this trend. It has drastically changed the digital selling concept and introduced social media platforms as a new marketplace for customers to shop for their products. Facebook, Instagram, and several other social media platforms have been used acutely to sell several diversified products. This blog explicitly mentions what it is and the aspects you should consider while selling your products through social media. Let’s deep dive and find out what it is and how it can benefit you as a seller.

What is Social Commerce?

It is the new way of selling and buying products directly through social media platforms such as Facebook, Instagram, Pinterest, etc. This method allows customers to shop while scrolling through their favorite social media platforms. As we know, in this digital age, customers from various generations are using social media platforms. Hence it is one of the most innovative ways to sell your products through social media by associating with this new business method. This specific business model has pushed social media beyond its actual role. According to a survey, this method is also helpful for various brands and individual sellers. Within the next two years, it has been predicted that this business model will grow faster than ever.

Startling Social Commerce Platform to Start Your Journey with

Regarding this selling process, it is essential to know about platforms that allow you to sell your products. Here, we have mentioned a few popular social media platforms where you can sell your products and fulfill the requirements of a number of customers.

Facebook

Undoubtedly, Facebook is the most recognizable social media platform worldwide. If we talk about the statistics from India, Facebook currently has 329.65 million active users. This platform has a tool with a shallow barrier for sellers to enter. You can set up a Facebook business profile to sell your products through this platform. At Facebook, you can automatically synchronize your entire inventory list with this platform in just a few seconds.

In case your eCommerce solution doesn’t provide Facebook integration, then, in that case, you can even upload your product information through a spreadsheet also. Selling your products through this specific business model also encourages organic product discovery and ultimately helps you increase your overall revenue. Once Facebook users find your products on this platform, they can even complete a purchase through the Facebook app itself. This platform is the most recommendable way to connect with your customers directly through messenger.

Instagram

As you know, Facebook is the parent company of Instagram, so Instagram shopping is directly linked with the Facebook shop. To set up your shop, you must link your Instagram business account to your Facebook business account. Once you get it done, you will be able to upload your existing product catalog on this platform, or you may create a new one also.

Instagram is all about #hashtags, and to sell your products successfully through this social media platform, and you need to add various relatable tags to your content. It can make your product discoverable for your customers. Apart from that, Instagram posting, creative reels, and videos will help you immensely in selling your products. This platform offers more opportunities for creative selling promotion because of its visual feature.

Pinterest

Pinterest is another social media platform that allows you to sell your products directly to your customers. However, like any other social media platform through Pinterest, you won’t be able to provide the complete shopping experience to your customers on this platform only. Product pins are not direct tools at Pinterest, so customers will redirect to your main eCommerce landing page to complete their purchase. To sell your products through this social platform, you need to add your product catalog to the Pinterest business page. According to a recent survey, more than 80 percent of Pinterest users are actively searching for some purchase inspiration. However, setting up your product page on this platform requires a little technical knowledge to pinpoint your products for your customers.

Three Key Benefits of This Specific Business Method

Connect with a Wider Customer Base

Acquiring brand loyalty is vital for any online business, as many are on the battleground. Ever since the pandemic has hit the world, a drastic change has been seen in customers’ shopping behavior. They have switched their brand preferences and are open to trying out new products and brands. In this continuation, you must be aware of the fact that more than fifty percent of customers are getting to know a new product or a brand through social media. Hence, it is highly recommended to start selling your products through S-commerce. Through these social media channels, you will be able to connect with a more substantial customer base because those who know about online shopping must have a social media presence. We have already given you several Facebook users in the above paragraphs that can help you to understand the value of social media platforms and their worth.

Escalate Reviews & Recommendations

If you are new to this selling zone, you need to know that social media profiles are the perfect place to establish your social proof. While online shopping, customers can not try out or test your products; reviews and feedback are the only factors they can rely on. Social media posts can attract thousands of customers into your funnel, giving them a chance to pen down their overall shopping experience with you. Believe it or not but one positive review can do wonders for your online business; it can increase your sales and add more customers to your journey. Humans have this in-built nature of passing recommendations to each other. Thus, it can eventually help you to get more customers.

Showcase Customers’ Shopping Behavior

This particular selling method provides you direct access to your customer’s social media profiles, and you can go through them to learn more about them. This practice can let you know your customer’s basic preferences and choices. Using these insights, you can offer them products as per their choice and increase your sales effortlessly. This method provides you the ability to impact your target customers on a larger scale.

Conclusion

Thus, you must have gained a broad idea about this alluring shopping method. But you must keep a few things in mind before you start selling your products through social media platforms; you need to know your target customers. Once you get to know them, start scheduling your promotional posts to catch their eyes. Last but not least, must reply to every review and query promptly. It provides a personalized shopping experience to customers and increases the chances of customer retention also. Social media has brought a revolution for online shopping and made it easier for sellers and customers to interact with each other. So what are you waiting for? It is time to adapt to this new business method.

All You Need to Know About Amazon Inventory Management

All You Need to Know About Amazon Inventory Management

In business, no seller wants to go out of stock and decrease the sale; on the other hand, they will also avoid spending extra money due to overstocking. Being a seller in the eCommerce industry is not an easy task; one of the integral parts which need to be dealt with is Inventory Management. You must manage this part with utmost importance on every platform like Amazon, Flipkart, Meesho, etc.

In Amazon, inventory management is also a crucial part of selling. It would be best if you found the right balance between too much and out of stock. We all know that at the end of the day, good business results from better management and understanding of the consumer’s needs and market.

Today, we will discuss what Amazon inventory management is, its benefits, different inventory management systems, and common inventory issues Amazon sellers face. We will also glance at the best inventory management software in India.


What is Amazon Inventory Management?

From purchasing to selling an item, keeping this track is known as Inventory management. Let us dive deeper into this. Inventory is the stock you, as a seller, are willing to sell. Amazon inventory management is to keep track of customers’ demand and your stock so that you do not get out of stock.

The complete process is quite long and needs to be managed all the time. The extended activity of tracking and storing your goods and meeting consumers’ needs is the whole idea.

What is the Need for a Better Inventory Management System?

More simply, the customers who come to Amazon for shopping are always in a hurry. To be a good Amazon seller, you must assume that your customers are impatient.

As per the data, 68% of people want their product delivered within 0-3 days. Around 70% will be upset if delivery is late or the product is out of stock. Your customers will buy from your competitors when you remain out of stock.

As we discussed above, some problems are shared among all amazon sellers regarding Inventory Management. Now let us understand that too.

Common Problems Faced in Amazon Inventory Management

Getting Out of Stock

The most common problem faced by most Amazon sellers is getting out of stock. It simply means that customers are demanding your product, and you do not have enough to deliver to them. It results in a terrible user experience, and your best seller rank is disturbed when you go out of stock.


It has to be managed in a very organized way; when running short, it just slows down the demand process. You can help this by stopping off-site ads, which are working in bringing new customers to yours. This way, you will retain the old customers and pause the process of adding a new set.

Overstocking the Inventory


In the above case, you don’t want to get out of stock; in this case, you don’t want to store extra inventory. It can levy a high cost of storage for the extra inventory that you have.

If the seller uses Fulfillment by Amazon, this becomes more crucial. This will make you pay heavy fees for storage; Amazon works on a product in and out strategy. If your product is in there for more than 90 days, it will be an extra heavy charge on you.

Stranded Inventory

It is another common issue the seller faces, although it can be avoided. This term is used for those goods which are no longer a part of Amazon’s active listing. It is for sale, but no consumer will be able to purchase it.

This work demands active checks on the dashboards to be on time. Amazon lists the inventory in your dashboard, and you need to be attentive. Keep a check on the seller dashboard allotted to you by Amazon.

How can Inventory management be Done Efficiently?

Maintain 60 Days Supply Chain

This is one of the best ways of managing your inventory, keep a fixed period of 60 days, i.e., two months. Stock the inventory for two months and keep a check on the reports and data on product performance.

Product forecasting can help you determine the future storage numbers of different products. Amazon also provides inventory reports to all its sellers, which you can easily understand.

Reduction of Excess Inventory

This scenario is very common to almost every seller; huge brands sometimes face this issue. There are some easy solutions which can be adapted for this like

  • Running Promotions- In this, you can use running campaigns and provide gift coupons to your customers. You can also run the sale offer of buy 1 get one combo.
  • Creating removal order- If you have an alternate option to store your product besides Amazon, use it. You can remove your inventory without paying hefty storage fees to Amazon.

Control the Demand

As we have discussed, when you are aware of getting out of stock. Lower your demands accordingly, and it can be done by stopping advertisement campaigns and hiking the product’s price.

If you are low on stocks and still the demand is high, it will surely end in order failures. If you want to stay safe from this situation, keep managing the demand similarly.

Using the Best Inventory Management Software in India


Selling on Amazon is hectic work; getting everything in the right place might become hectic for the seller. For this, you can take the assistance of software for inventory management, reducing your stress.

Softwares like eVanik OWS help you to manage the inventory correctly. The tool helps you with centralized inventory management solutions.

Conclusion

We discussed the different aspects of Amazon Inventory Management as we talked about the common challenges faced by the sellers and ways to get rid of them. One thing is particular and standard for every business: customer satisfaction. At the same time, sellers also need to check the profit margins.

Profit margins are directly affected by the different prices which may occur while selling on Amazon, like excess fees for inventory in FBA. Covering all the aspects and getting along with the solutions, a seller must bloom daily with excellent customer service and avoid extra losses that may come in the way of selling on Amazon.

We also discussed getting assistance from the best inventory management software in India, like eVanik OWS, for better business management. To move ahead, sellers need to work smarter rather than working harder.

Why Do You Require Accounting Software for eCommerce Business!

Why Do You Require Accounting Software for eCommerce Business!

While dealing in the eCommerce industry, you need to take care of your finances and manage your accounts successfully. Always keep in mind that you end up selling products online to earn some profits, and to keep that profit on track, you need effective accounting software for your eCommerce business. Keeping up on the books can be time-consuming and exhausting without dedicated eComm accounting software. If you are selling your products all over India, you have to track the taxes for every state, and it can be a full-time job by itself.

Mistakes and errors in accounting and taxes can negatively affect your business. If you think you can earn profits after skipping this step, let me tell you that you’re living in denial. There is no shortcut to generating revenue by skipping the accounting process. You have to go through this if you associate with any online or offline business. To maintain the perfect accuracy in accounts, you need to speed up your business’s accounting system. In this particular blog, we have mentioned the requirement of accounting software for an eCommerce business.

Significance of Accounting Software for eCommerce Business

The traditional way of doing the accounting part increases the chance of significant errors. That is why you need to take the help of integrated accounting software, as it is the only solution to all the manual accounting and financial issues of an eCommerce business. This industry is emerging rapidly. That’s why you need to be as quick and accurate as possible. Accounting software such as eVanik OWS takes over all the responsibilities right from reconciling payments and tally integration. Apart from that, it also provides the solution for inventory management, omnichannel order processing, and so on.

The Clarity in Financial Report

To have clarity on finances and visualize the bookkeeping, you need to have a chart or graphs. Accounting software for eCommerce businesses provides you the clarity to understand your business’s financial statements in real time. With a single click, you can get insights about all the individual orders and other expenses. This type of accounting clarity lets you consider your finances at any second rather than consulting with multiple accountants or waiting until the end of the month. It can help you learn essential information about your customers’ spending habits.

Hassle-Free Integration

Most eCommerce sellers use tally to manage their accounting part. Accounting software such as eVanik easily gets integrated with your tally prime and makes managing your accounts much more effortless. It provides you with a matching tool where you can match your sales tax report with the data integrated into tally prime. While using the accounting software, it won’t require you to install any third-party module in your tally prime because it is already integrated with tally prime through API. Apart from that, it minimizes the requirement of downloading or uploading any excel CSV (comma-separated values) files from various eCommerce marketplace seller panels.

Accuracy in Bookkeeping

It doesn’t matter how good you or your team are at doing the maths manually in the eCommerce business. We are human, and humans are prone to error compared to computers. You have to understand that integrated payment processing is more accurate in any individual transaction. To maintain accuracy in bookkeeping, you need to take advantage of any accounting software. It can also screen the errors across informational categories to maintain overall accuracy. To maintain the cash flow and grow your business, you must provide accurate bills to your customer on time. The best accounting software lets you automate the invoicing as well. You can also send follow-up reminders, create recurring invoices, and accept digital payments directly from the invoices.

Integration with eCommerce Platforms

If you sell products on various eCommerce platforms, you require accounting software for eCommerce businesses that integrates easily with multiple eCommerce channels. Entering every transaction and other expenses manually includes significant errors, which is time-consuming. However, the software integrates smoothly with various eCommerce channels to provide accurate financial information and data. The software that integrates with your banking system is something that all businesses find convenient for themselves. If you are dealing in the eCommerce business and selling products on various platforms, compelling accounting software with an integration feature is something crucial you should look for.

Three Tremendous Types of Accounting Software

Cloud-Based Accounting Software

This type of software totally relies on the cloud to keep all of your financial data in one place and provide you access to operate it from your computer and smartphones as well. Undoubtedly, it is convenient to access, but on the other hand, it does open up your data to potential hacking on the cloud. So, while choosing such software, you will have to check out the security they provide.

Cloud and Desktop-Based Software

This kind of software allows you to keep some information on the cloud and other essential information on your desktop. It can be much beneficial when you want to have some reports accessible online, but you don’t automatically want all of your business’s financial data on the cloud.

Desktop-Based Software

Desktop-based accounting software keeps all of your data rigidly on the desktop. Until or unless you export it and share it in some other way, you will not be able to access it on any available cloud networks. If you don’t want to take any risks while having your information hacked on a cloud, it will be an efficient and secure choice.

Conclusion

If you want to manage your online business’s finance efficiently, you must use accounting software for an eCommerce business. It will provide you with an instant overview of your profits and expenses, which ultimately helps you plan and fix a budget for your business. Besides this, accounting software allows you to analyze your financial data. This can make you streamline the whole eCommerce process, manage the inventory and develop intelligent pricing strategies. All of it can help you to stay competitive in the market. So, if you are convinced that you should use accounting software for your online business, why not consider the eVanik OWS. It provides you with all the essential services required for your online business. It provides you with the excellent feature of tally prime integration, Zoho books integration, Aligns books integration, and Quick books integration. Apart from accounting, it helps manage the inventory and provides the payment, shipping, and returns reconciliation benefits.

How to sell on amazon for beginners?

How to sell on amazon for beginners?

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There is a step-by-step guide for every process whether to make an email ID, to make a social media account, or even to register yourself as a citizen in any country. Similarly to become a business owner you have to follow certain protocols to register yourself as one.

This blog is specially designed for the one who is a newbie and wants to become a seller on amazon. We are aiming to guide you step by step on how you can start your own eCommerce on amazon.

So without wasting any time let’s get started.

Making a Plan

First and foremost you have to make sure you are going on the right path. In order to do that you have to do thorough market research, set your business mission, and decide on a proper product analysis and financial budget.

Find your Niche

After thorough research, you have to decide what products you are going to sell. This niche will decide whether it will be profitable or not, will it stay trendy for a while or stay evergreen, what kind of impact will put on the mind of the customers and other important factors will decide whether it will give you significant revenue or not.

It is advised to select the products based on the season and fragility of the item.

Recognize your Supplier

In this part, you have to understand which supplier has the potential to fulfill your product unit requirements. In case you are the manufacturer you can ignore this part, but for the ones who are starting out you can look for websites like alibaba.com who can fulfill your order in bulk.

If you are not satisfied with the option you can go on google and find your ideal manufacturer who can provide you the quality products, low shipping charges, best prices, etc. This part mainly covers the market research.

Place your Orders

Now that you have decided on your supplier, it’s time to place your order. It is advised not to go for a large order but for small ones. Use this small order to get feedback and test your targeted customers.

Remember to stay in touch with your supplier and always check the quality of the product you are delivering to avoid any unhappy customer.

Registering yourself as a seller on Amazon

In order to sell on amazon, you need a seller’s account. This marketplace offers two types of accounts first is an individual seller and the other is a pro account. In the individual account, you will charge 0$ a month but you have to pay a dollar for every sale in the pro account you will charge 39$ per month.

So here you have the flexibility to choose according to your needs.

In order to register, you need necessary documents like GST number, business address ID, individual identification, business phone number for verification, and other important information that will be mentioned on the screen.

Create your Product List

Now that you have set your account, it’s time to list the product on your account. It is advised to optimize the products you are listing by including high-resolution images, stating out proper details with rich content, and giving some insight about the products in bullet points. Here you have to focus on making the product more appealing.

Manage your Inventory

While selling you have to pay special attention to the inventory. Keeping track of inventory level is extremely important. If you are unable to keep a proper track, you might face a situation where you might be out of that specific product and won’t be able to deliver the item the customer is asking for. This affects your brand image and hampers customer’s loyalty to some levels.

To manage your inventory you can use an efficient inventory management system that can also offer multiple features that can help your business smoothly.

Act on your Customer Feedback

It is necessary to make necessary changes according to your customer’s feedback. These feedbacks will help you recognize the gaps in your business plans and plan efficiently to generate significant revenue for your business.

These testimonials can turn out to be social proof that your products or services are authentic and are of good quality.

Conclusion

Amazon is one of the most profitable eCommerce marketplaces and if you are planning to start your business, we believe this is the right time to get in. Hopefully, you might have understood the path to start your online business. All the best in your future endeavors.