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Ten quick ways to fight the recession

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“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.

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