5 Steps to Making a Successful Kid’s Business

February 2, 2019 2:00 pm Published by Leave your thoughts

 

Setting up and running a webstore for kids can be a very profitable venture. It’s one of the few areas in e-commerce that is rapidly growing on a consistent basis every year. The toddler to kids segment of the market will always have demand, and it’s hard to not do well in that industry as an entrepreneur.

Think about it, there’s a new baby born every single day. Parents will always want the best for their kids and a lot of them don’t mind spending a little extra on their newborns. Kids also grow very fast, which means they will often outgrow their clothes, diapers, and toys every year.

It’s the “perfect storm” for online sellers. For as long as you can keep providing relevant, suitable, and high quality products to young parents, you should be able to keep your webstore running.

But of course, there’s no sure things in life and creating an online business for kids will not guarantee you immediate or long term success. There are, however, steps and tips that can help you succeed better and quicker than others.

Here are 5 steps you should take if you want your online kids webstore to succeed:

 

Step 1: Remember who you’re selling to

Before you source for your products, create your webstore, and start marketing, you should always remember the target audience you need to reach. Although you’re selling products for kids, you’re actually selling to their parents. Tailor-make your webstore, product descriptions, and marketing materials to appeal to young parents.

Step 2: Source and sell only high quality products

Although the profit margins for a kids online business can be high, don’t be greedy by selling cheap products with questionable origins or quality to make more money. Children are fragile and can be prone to safety or health issues if your products are problematic. By only selling high quality products, you can expect your customers to turn into loyal repeat customers. And if they’re happy with your products and service, they might even recommend your webstore to their friends.

Step 3: Segment your products for different age groups

This step entirely depends on what kids market you’re targeting. If you’re going niche by only selling toddler products, then you can skip this step. But if you’re selling a whole variety of different products catering to a wider age range, be sure to categorize them well on your webstore. It’ll help the browsing and product searching experience better and easier for your potential customers.

Step 4: Build a store that is functional and explain the benefits of the products

Some parents buy kids products because they look cute, but many others buy due to certain benefits that the products have. Once you’re built your store, help your customers understand your products better by describing the benefits of your products in detail in the product description section. It’ll help to smoothen and quicken their buying decision making process.

Step 5: Use a referral code for new customers and a discount coupon for frequent buyers

You’d be surprised at how powerful referral and coupon codes can be. Using a referral code can help you acquire new customers at a much cheaper cost, since the codes will be shared by your customer to their network of family and friends. While giving out discount coupons for your current customers will encourage them to keep coming back to purchase more by incentivizing them with a discount for their next purchase. Another idea is to create a community or membership of sorts, where a member of your store will be entitled to a better price if they sign up. You can even give periodic offers through email marketing for discount codes that are redeemable during a customer’s kid’s birthday.

 

Tags: , , , , , , , , , , , , , , ,

Categorised in:

This post was written by Nina