Ten quick ways to fight the recession

“Fight the urge to ‘hunker down’ and focus on ways to appeal to consumers who, while continuing to spend online, are looking for ways to save money and find a great deal,” concludes ‘Multi-Channel E-Commerce Revival’, a new white paper from ChannelAdvisor. “Your competitors may be weak — and now’s the time to innovate and take share.”

The white paper includes ten quick ways to fight the recession:

• Focus your time on growing, not just being more efficient




• Smart sourcing is the single best way to optimise both growth and efficiency




• Cash is king: Accelerate inventory turnover to maximise cash on hand




• Be on as many channels as possible. Don’t limit yourself to a small piece of the overall ecommerce pie




• Use the recession to take your ecommerce site to the next level to improve merchandising, engagement factors and overall design




• Avoid leverage and debt like the plague




• Use Google Product Search. It’s free and can drive massive ROI.




• Work on improving your ecommerce site’s conversions to make cheaper customer acquisitions




• Implement surveys as a way to improve conversions, and point out areas where you can improve




• Focus on customer retention: It’s the new customer acquisition.

The white paper includes a host of statistics about the current state of the market and the latest trends. Readers can download the full report free of charge from the ChannelAdvisor website.