Every entrepreneur is interested in taking their business to the next level, but there is a correct way to go about it. Quantified Commerce, co-founded by serial entrepreneur Agam Berry, is a digital marketing agency that brings logic and creativity under one roof to help its clients prosper in the ever-changing digital age.
As digital marketing experts, Berry and his team have firsthand knowledge of what it takes to succeed in a variety of industries. They were recently kind enough to share three of their top business growth tips with us.
1. e-Commerce Business Models Are the Path to Success
e-Commerce concepts offer a variety of advantages over their more-traditional counterparts. For starters, online businesses don’t need to pay the retail rent, salesclerks, and utility bills that brick-and-mortar businesses do. These savings may be passed on to the consumer, allowing even a smaller company to offer competitive prices without compromising on quality or variety.
The internet also offers a larger reach than any retail location possibly could, allowing a brand to solicit business anywhere from New York City to Mumbai, India. This dramatically increases the target audience you can appeal to, creating the realistic possibility of a sizable increase in revenues, something Agam recently shared in an article with the Economic Times.
Perhaps most importantly, digital business models lend themselves to digital advertising. Ads on social media platforms like Facebook are cheaper than traditional TV spots, plus they can be targeted to your ideal customer instead of whoever happens to be watching a given program. As more consumers are fast-forwarding the commercials they used to need to watch on TV, it is clear that digital advertising is the future.
2. Employee Education Is Vital In Today’s Times
Some employers feel that they can get away with hiring employees after they have attended college and avoid investing in their team, but nothing could be further from the truth. Data suggests that poorly trained personnel are up to 40 percent more likely to leave their new position within a year. This gets pricey for employers in a hurry, as hiring and training a brand-new candidate is often more expensive than helping an existing employee improve their skills.
Technology is increasingly driving all industries, and the fact that it is constantly evolving is another good reason to provide educational opportunities to your staff. This way, they can learn new skills as they are needed and avoid becoming obsolete in the face of new trends such as machine learning and AI improvements. Agam recently shared in another Economic Times article why he supports employee education at Quantified Commerce.
3. Vertical Integration Helps Lower Costs
Vertical integration is simply a fancy way of saying that a given business has control over multiple legs of its supply chain. For example, the average business needs raw materials to work with, advertising dollars, employee costs, rent payments, and third-party providers of vital services such as transport and customer service.
It’s generally cheaper to do as much under your own umbrella as possible. For example, Agam Berry recently shared that Quantified Commerce is reducing costs for its new e-commerce venture in India by bringing manufacturing, customer service, and shipping under their direct supervision. This ensures that they do not need to pay a middleman for virtually anything, savings that may be passed on to the customer without compromising elsewhere.
Learn More About Quantified Commerce
If you’re interested in learning more about Quantified Commerce and what they may be able to do for your company, you can visit them online at QuantifiedCommerce.com for more information.
