It’s Your Business is a new series we’re starting to provide some helpful tips on how to grow your business in a long-term, sustainable way. The advice we provide is based off the type of solutions we offer at SimplePart, but you can always apply anything you learn here on other platforms.
In this first edition, we want to cover a key element when it comes to the growth of your e-commerce business: how you measure your success.
Take a look at your current business model to see what’s most important to your business. At first, this might seem like an easy thing to find out, but having a firm idea is critical to making sure you see sustainable growth for your business.
The first thing you consider might be sales volume, which makes sense, because everyone wants to sell more. Of course sales volume factors into the success metrics of your e-commerce parts site. However, depending on your business and sales model, gross and net profits could be more accurate measures of overall success.
For example, you can always sell your parts and accessories at Cost+5% and consistently meet your sales goals, but is it worth it if you’re not making any actual profit for your dealership and employees?
It’s important to keep different options in mind when you’re considering the best route and the best partner for your online business. When it comes down to it, selecting the right partner is often like buying a car: it makes sense to check under the hood before you fully commit.
We’ll be featuring additional topics to help you better meet your business goals in future blog posts, so check back here often for more helpful advice. For now, you can find out more on our website, simplepart.com. You can also contact our 24-hour support team by emailing firstname.lastname@example.org or calling (888) 843–0425.