Tag: Freedom lifestyle

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A Quick Guide to Starting a Retail Arbitrage Business

Retail arbitrage is not just a hobby or side business. It is a business model that many follow to run highly profitable businesses. Retail arbitrage involves finding products created by other brands and manufacturers and then reselling them on Amazon, eBay, or Walmart for a profit. The goal is to find a high in-demand product for an affordable price, buy it in bulk and then list it on one of these platforms. The more products you source and resell on these platforms, the more revenue you can make.

 

These essential tips will help you start and run a profitable retail arbitrage business:

 

Use the Amazon Seller App

The best way to ensure you are sourcing products with a high-profit margin is to take advantage of the Amazon seller phone application. This app allows you to scan items to see their current sales price, sales rank, and potential return on investment.

 

Shop More Than One Store

Find more than one store to shop from, even if it is the same type of store. The more deals you can find with the most units, the more profits you can make. For example, if you find a candle that people are buying for $2 at a local store but know you can sell it on Amazon for $10, you will want to purchase and sell at least twelve or more to make a profit worth the work.

 

Verify Your Profit Margins

In other words, find products you can sell at all different price points. However, beware of your limits. Anything that provides at least eight dollars or more in return is where you should start if you want to start and run a profitable retail arbitrage business.

 

Price and Ship Right Away

Don’t let the product sit once you purchase it. Follow the instructions on how to properly ship your items to Amazon’s warehouse as soon as possible. Be sure to price the items competitively but fairly. In other words, if others on the platform are selling the same thing, don’t over or underprice them, as this will only hurt you in the end. Keep the price the same by fifty cents to a dollar keeping in mind your profit margins.

 

As you can see, you can’t just post any product and expect it to be successful. It needs to be an in-demand product and offer a good return on investment after being shipped to Amazon then packaged and sent to the new owner. For retail arbitrage to be successful, you must sell at a profit and find more than one unit. This means most successful retail arbitrage businesses eventually open a warehouse and hire employees to source more products and get them shipped to Amazon quickly.

 

 

 

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How to Make Money Starting an Amazon Private Label Products Business

In 2020, over half of the private-label sellers using Amazon FBA earned five thousand dollars or more in sales each month. In fact, this business model is so successful that roughly seventy-one percent of sellers on Amazon use private label products. A manufacturer creates private label products that allow you to put your own logo on them and then sell it to your audience for a profit. With this method, the products you can create are endless, from beauty products to pet treats to kitchen utensils and more. If there is a product you want to sell, a private label manufacturer is waiting to make it.

 

These five important tips to follow to grow a profitable Amazon private label products business will expand your understanding and get you started right.

 

Source the Right Product

Don’t list the first private label product you find just because you think the product or idea is popular. You must first ask for samples to test the product’s quality and find the best version while keeping costs low. Private label products require purchasing large quantities of an item to lower the price per unit costs and increase your profit margins.

 

Design an Attractive Logo and Packaging

Just like any physical product on Amazon or in stores, you need attractive packaging to educate and entice people to purchase your products. In addition, sophisticated packaging and logo insinuate that your products are more valuable, thus allowing you to increase the price of your product.

 

Create an Amazon FBA Account and Optimize Your Amazon Listing

You can offer private label products without starting an Amazon FBA account. Once you open your account and verify your identity, you will start listing your products or registering for the Amazon brand registry that gives you even more control of your products. From there, you can start listing your products. Be sure to fill everything in as specified to the best of your ability, and don’t skip a box. The more information you provide, the easier buyers can find you.

 

Strive for More Reviews

It’s simple, the more reviews your product has, the higher you appear on buyers’ search feeds. Include inserts or automatic emails that go out once a purchase is made or delivered to ask for their review. Be sure to avoid exchanging reviews for free products or discounts as this is against Amazon’s terms of service.

 

Price Your Products Correctly but Competitively

Take a moment to research your competition on the platform and see what prices they are offering. Unless you have an obviously superior product with the information to back it up, don’t expect to exceed these prices too much. Remember, competition is healthy, and starting a price war is the last thing you want to do.

 

Finding valuable products is the first step to starting a profitable business. If you don’t offer the right product based on your ideal audience’s wants and needs, it won’t matter what you do after, as the product is the most important part of this business model.

 

 

 

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Five Important Principles of Authentic Community Engagement to Learn

With more social media and online communication, being genuine and trustworthy are two important characteristics many consumers are looking for from businesses more than ever.

 

With authentic engagement and communication, you can foster communities that work together to empower each other and your brand. It provides the knowledge you need to improve your products while also helping the members solve problems that can then be used to improve their lives and others. It’s about being real, inspiring your community, and doing your best not to mislead or misdirect them.

 

The following are five important principles to learn and incorporate to inspire authentic community engagement and grow your business:

 

Get the Community Involved and Active Right Away

 

Don’t wait until you have a lot of members to start publishing information and activating the community. At first, your community may feel a little lonely until you get more members but keeping it active and full of information that will still be there when people join is very important to building a dynamic and vibrant community.

 

Encourage Trust and Integrity

 

Set the rules of your community to establish trust and highlight your integrity to the group. As you communicate openly with members of your community, others observe and become more trusting of you as they notice how much integrity you have.

 

Foster Community-Led Solutions

 

As a business owner, you need to create and or find solutions for your ideal customer’s problems related to your niche and your expertise. The impressive thing about having a community is getting input to create more solutions from the people who need them.

 

Be Consistent, Clear, and Open with Communication

 

It can help to create a branding guide that includes your business personality and voice to ensure that all content and communication are consistent, clear, and accurate. It’s a lot easier to be open when you know for sure where your values lie and how to ensure you stick to them.

 

Empower and Support Your Audience

 

The best thing about a group is that you will have one of the best advantages in empowering and supporting your audience. After all, you want them to succeed, and if they succeed, you do too.

 

Create powerful and informed content that serves your members and only your members — meaning don’t just automatically share content that has been shared in other places unless you changed it in some way or added additional meaning to it by connecting it to a success story or a point you want to share. The more personal the content being shared in the group, the more likely your members will come back and engage with each other. Content is how you keep your target audience interested and involved, so make it worth it.

How Community Member-To-Member Engagement Grows Your Business

 

 

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Common Business Problems that Building a Community Can Solve

If you are struggling to build your business and looking for ways to improve, building an online or brand community may be the best solution. In fact, it is likely the tool you’ve needed all along.

 

The following are five common business problems building a community can solve:

 

Poor Return on Investment

 

While email lists, advertisements, and your blog are all fabulous ways to generate interest in your offers, there is nothing more effective than truly getting to know your customers more intimately. If your ROI is not what you want it to be, but your customers are otherwise satisfied, a brand community can help you fix that problem.

 

You can create the community free or for a fee. It’s up to you. It really does depend on your niche and your business model, but you can test out various ways to run your community. Once you have a captive audience that you can communicate with regularly, they will start buying more, and your ROI will improve.

 

Poor Cashflow and Intermittent Revenue

 

Whether you provide services or products, or you’re an affiliate with no products of your own, if you work within a particular niche, your income is likely not consistent if you have not built a community of avid and hungry buyers. Having a membership-based community, whether paid or free, can stabilize your cash flow like nothing else.

 

In your communities, you can offer them the first peek at new products and services, get more feedback, receive more customer reviews, and even get your members to become brand advocates and recommend you to others much easier than you can without having a community.

 

Poor Credibility, Trust, and Awareness

 

Communities humanize businesses, and once that happens, your audience will start trusting you more. The credibility that you end up with after creating more awareness through community building will jumpstart your creative juices and end up helping you become even better in the eyes of your customer base due to all the inside knowledge you’ll gain by being part of your community.

 

Poor Business Growth and Stagnation

 

If you have grown as far as you can with what you are doing, consider building a community. An active and engaged community can really boost your growth and end the stagnation you’re experiencing. Even if you haven’t sold a solitary product yet, building an active community will generate new revenue.

 

Finally, you can vastly improve your customer service by setting up an active and involved community. Not only will your members offer each other community peer-to-peer support, but you’ll also be much more in tune with what is going right and wrong and learn better ways to help your members in the way they desire.

 

 

Four Ways Community Building Improves Customer Service

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Four Simple Ways to Create Brand Awareness Through Communities

The first step to every marketing funnel includes creating brand awareness. Brand awareness is essential to growing a profitable and sustainable business. When potential customers know who you are, it is easier to form deep connections that prevent them from running to your competitor.

 

In other words, brand awareness influences the trust and credibility needed to make purchases, create loyal customers, and maintain a competitive edge. Building a community is an affordable and powerful way to get the brand recognition you need to be successful.

 

The following are four ways to create more brand awareness with your online or business community:

 

Ask Your Members to Share

 

This is the simplest way to get more brand awareness. For every piece of content you share with your audience, ask them to share the parts for public consumption. When you ask them to share and even incentivize them by developing a referral program, you’ll start building your community fast.

 

Create Surveys or Feedback Forms

 

While some members will offer their thoughts without your asking, the truth is, even inside a group, people are more likely to give you this information if you ask for it via a survey or feedback form, depending on what you want to know. So don’t be shy about creating surveys either.

 

If you’re trying to develop a new product, for example, use your community to help. Give them three choices on the title or ask them for feedback on the branding. This accomplishes two things. One, you will make a better solution with your audience’s help, and two, you are promoting it and developing excitement in your audience.

 

Develop Engaging and Shareable Content

 

Use the information you glean from your audience inside the community to develop more engaging and sharable content. Turn compliments into memes, take data and create an infographic, and try to produce content that your members want to consume and, more importantly, want to share.

 

Take Advantage of Platform Features

 

Depending on what platform you use, it will have a variety of features. Facebook, for example, enables you to create a variety of types of groups with assorted options to use bots, have forms, take payments, and so much more. While a platform like Mighty Networks offers a whole host of options too. Use the features within the platform. They are there for a reason.

 

It is easy to see that communities can create brand awareness that leads down a more successful path. It’s simple: if your customers don’t know you exist or have value to provide, you won’t be able to build a sustainable and profitable business. In addition, brand or online communities using social media make it easier to find and reach your target audience.

Six Tips to Improving your Social Media Story Content

 

 

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How Communities Promote Lead Generation

Did you know that brand communities pull nearly seventy percent of traffic from search engines? In other words, communities due to SEO attract larger audiences from the search engines as they have the power to reach more customers and provide more value than other resources.

 

As time goes on and you share more content or encourage your members to interact, developing user-generated content, you increase the keywords or data you need for search engines to find you and your business.

 

Not only that, but people also thrive in communities—people like feeling connected to others. Even self-professed introverts are online and participating in online communities. When you have a wider reach and get more members, you are also more likely to easily sell more products with the generated social proof — which is exactly what online or brand communities provide. So, the wider your reach, the more engaged your communities, the more you can grow.

 

Here are five ways online or brand communities promote lead generation:

 

Superior Quality Content

 

The content generated in your communities will naturally be more relevant than anything you can produce on your own. Even if you are a member of your own ideal customer base, there will always be things that you’re just not going to know to ask. Having a community will reveal inside information from your group members about what type of content they want to consume. Hint: Once you have this information, you can use it to generate content outside of your community too.

 

Word-Of-Mouth Marketing

 

We keep mentioning word-of-mouth marketing because it’s imperative that you understand how important this is. It’s a big deal to know that you can speak to your customer directly, and they are essentially holding you in the palm of their hand.

 

They may even read your group content while taking care of their personal business, waiting on kids, or even while drinking coffee. As a result, they feel relaxed and can engage when they want to on their time which makes them feel good about you, so good they tell others about you.

 

Insights and Analytics

Home Office Automation Tips

You know that everything is about data today. All the choices you make in your business, and your life, are affected by the information you collect and the data you generate. Just reading this, you are generating data because your IP address is almost always recorded when you go to someone’s website to read it. Likewise, you will know when your audience members read your content and even where they go next, and if they leave a comment, you will learn even more.

 

This information can help you develop sales material, new products, more services and give you ideas about problems and solutions that your audience needs.

 

Feedback and Reviews

 

For some reason, group members are much more likely to provide feedback and product reviews than people who buy the same thing but never interact with the community. If you want more feedback and reviews, hosting a community is a sure-fire way to make it happen. When you get this feedback and the reviews, it’s on you to use them to improve.

 

Member-To-Member Engagement and Interaction

 

Watching your members interact and engage with each other is also a really big deal. In the old days, you might have to form a focus group, but in these modern times, all you need is to create a vibrant and active community to find out what your members think of your products and services.

 

As you can see, communities are attractive to consumers. They provide the social proof and trust they need to join your community and potentially increase your revenue. In other words, the larger and more engaged the community is, the easier it will be to find people to market to. So, if you want the potential of endless leads, starting a brand community should be at the top of your priority list.

 

 

 

 

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Five Important Ways Communities Increase Brand Loyalty

Brand loyalty is what makes the effort of building and moderating an online or brand community so important. Member-to-member interaction, social proof, and the quality content provided within the groups inspire them to stay around and seek more.

 

These relationships also fuel them to share your communities or become brand advocates. Thus, saving you even more money while also increasing your potential to reach more people.

 

In other words, brand loyalty is essential to not only solidify current success but future success too. To grow a profitable and sustainable business, building a branded community is essential.

 

The following are five important ways communities increase brand loyalty:

 

Business-To-Member Communication

 

Communicating with your customers directly is an amazing invention of modern times. In the old days, you had to advertise on TV, radio, or various print means and wait to see what happened. So, it could be hard to tell if it worked for the reasons you think it did.

 

Now you can simply tell your members directly about your offers without the go-between. You can see when they view a message or respond to it and even see them talking to their friends in the group. But most of all, getting to send them a message right now that they’re going to get directly from you is an amazing thing and will keep you at the top of their mind.

 

Valuable and Engaging Content

 

It’s very important to understand that publishing anything just to put it in your community is not the goal. You want the content you publish and share with them to be valuable and engaging. You want them to look forward to seeing the latest content you share every day.

 

You want them to wait for it, excited for it to appear. However, that will only happen if you take the time to create desirable content based on what you know about them and how it relates to their need to use your solutions and products.

 

Member-To-Member Communication

 

This is one of the most important parts of building a community that will change everything for your business. Once your members start talking to each other about their lives, and your products and services, and how they help or don’t help, you’re going to end up getting the most invaluable information ever that will help you improve your products and make them think you’re a mind reader.

 

Special Offers or Member Discounts

 

If you promote outside your membership group or community, a terrific way to make the members feel special is to offer them some form of reward or a loyalty program. So many big businesses don’t understand how much it harms their relationship with their customer when they offer the new deals only to their new customers. Offer your members things you don’t offer anyone else because they are important.

 

Superior Customer Experience and Service

 

When you engage and spend time with your community every day, you provide customer care directly. As a result, they will perceive their customer service as better because they feel heard.

The more you nurture your customers and seek a relationship with them, the more likely they will become loyal customers or followers of your brand. Loyal customers advocate for your business and ensure the success of your brand now and in the future. Work always to keep your community engaged, be involved in the process, ask for feedback and reward them for improving your brand loyalty.

 

Six Ways to Use Communities to Promote Your Products

 

 

 

 

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Five Ways Communities Increase Business Revenue

Communities provide more to your business than just brand awareness, credibility, and loyalty. A branded community also offers more potential to increase your business revenue. And hey, you want to make money, right? I mean, that is part of the reason to start a business.

 

The possibility to increase your revenue means building a brand community is not something you should avoid or skip over, even if it sounds like a lot of work to you. It can be a lot of work, true, but the payoff is enormous if done right.

 

Communities offer one of the largest returns on investments and monetizing it will only provide more value to your members anyway. The more you make, the more you can give your community.

 

Here are five ways to monetize your brand community and increase your business revenue:

 

  1. Digital Products – Promote various digital products from eBooks, reports, templates, images, art, infographics, software, and more. If you can create it or pay someone to make it for you, and it’s digital, you should do it. Digital products are the best type because it doesn’t cost more to generate more of them. Your cost is tied up in the first creation, and that’s it. So, you can promote every single new product you create right in your group without paying for one advertisement.

 

  1. Entrance Fees or Competitions – You can actually monetize your community by making part of it members only for a fee. You can also host various competitions around your niche and ask for a fee for processing the entry – alternatively, you can ask for sponsors to pay for the competition. Be sure to read the rules of the platform and your locality before asking for contest fees, but in most areas, especially in the arts, it’s acceptable to ask for a small entrance processing fee.

 

  1. Exclusive Access Content – If you want to host a workshop, a webinar, or even private YOUTUBE videos, you can provide a special link for people to pay for entrance to view the exclusive VIP content. Using tools like Patreon and other platforms that allow you to provide access to exclusive content is key here.

 

  1. Brand Merchandise – Don’t laugh, but once your community reaches a certain point, they will want merch like t-shirts, coloring books, mugs, stickers, journals, and more that you create and offer to them because they like you that much. It really depends on your niche, of course, but if you have a great tagline and responsive members, try a t-shirt campaign first using drop-shipping instead of spending money upfront for the merch. Then, once you know you have enough interest, you can look for better options.

 

  1. Affiliate Products or Sponsored Content – A really fun way to make more money is to promote other people’s products by signing up as an affiliate or by accepting a fee upfront for sponsored content. Influencers do this all the time, and even if you don’t think of yourself that way, you are an influencer as a business owner who runs a brand community.

Choose Affiliate Promotions That Make Sense for Your Business

Overall, the potential to monetize your community is nearly endless, and the possibilities ultimately depend on your niche and goals as a business. However, these options can work for just about any industry and take your business to new earning potential. The great thing about promoting items for sale in a branded community is that customers who join these communities expect to see promotions and be offered amazing deals. They are ready to buy if you’re ready to provide them with what they want.

 

 

 

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How Community Member-To-Member Engagement Grows Your Business

Building a community is today considered one of the biggest industry secrets to growing your business. There is good reason this is true too, the fact is, communities foster the power of word-of-mouth marketing through member-to-member engagement and turn influence into dollars.

Why a Brand Community is the Business Strategy You Need

Community building is a crucial strategy that promotes trust, increases your credibility with your member size, and boosts revenue exponentially. Without word-of-mouth marketing or community involvement, many people won’t make a purchase or contribute to the success of your business because most people often rely on positive reviews or social proof before they feel confident purchasing or getting involved.

 

The following are four powerful ways member-to-member engagement within your community grows your business:

 

Customer Loyalty

 

A loyal customer is worth more than ten new salespeople because they will shout about how great you are from the rooftops without you ever paying them a dime. Just the fact that you delivered the right product or service in the right way at the right time to them in a way that met or exceeded their expectations is enough for them to keep buying and tell everyone they know about you. Likewise, inviting your customers to your groups and community will encourage satisfaction and increase loyalty because they feel heard.

 

Customer Retention

 

Keeping delighted customers is far less expensive than finding new customers. Even if you only have one product today, understand that having long-term customers hungry for every product or service you offer is your key to sustainability and success. A community helps you do this because people enjoy feeling like part of something important, and active communities serve that purpose.

 

Brand Advocacy and Word-of-Mouth Marketing

 

Thrilled customers become brand advocates without you even asking them to. With a vibrant community, you can actually develop your loyal customers to become brand advocates by asking them directly to tell others about you and rewarding them for doing so.

 

Enhanced Customer Service and Experience

 

Most people hate calling anyone on the phone to deal with a problem, so don’t worry, you don’t have to do that, but having a community will make your customers feel safe because they will feel as if they know right where to find you at all times of day or night even if you’re sleeping. It feels like a direct connection, and for the customer, that feels good because, face it, big business makes everyone feel unheard and unimportant.

 

As you can see, member-to-member engagement or getting your community members involved with each other positively is a powerful tool that can grow your business beyond your own capabilities. Not only is it powerful, but it is relatively affordable and simple to do with the right content and contributions from you or your brand community team.

 

 

 

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The Three Google Web Story Tools to Know About

Google web stories is a feature that allows you to publish content in a different format than your blog that is highly attractive and shareable to mobile users. This format is similar to what you see on popular social media platforms like Facebook, Instagram, and Snapchat. It uses video, graphics, text, and other features to tell a story that your audience is interested in or needs through a more attractive and engaging format to your audience.

 

Using features that attract more mobile users is more crucial than ever, as nearly seventy percent of those using the internet to shop use their smartphones. What’s even more important is that the Google Discovery feature, where your stories will be placed, attracts around eight hundred million views every single month. To use this feature, you must be aware of the tools required to get it going. Let’s look at some.

 

The following are the three Google web story tools to know about and important tips on how to use each:

 

Web Stories for WordPress

 

This is the main plugin to use that started the launch of Google web stories. This plugin offers a unique editing interface, tools, and templates to create powerful and beautiful stories — making it your best bet if you want to get maximum value out of your stories. Of course, if you have a WordPress blog, this will work better since it’s designed to work with self-hosted WordPress (WordPress.org). However, since it is a Google product, you will likely have success using this feature. Third-party options can still make things better and easier to use, especially as time goes on.

 

MakeStories

 

This third-party tool takes Google’s Web Stories technology to the next level and makes it easier to use. It also provides more tools to host your stories, turn your stories into Instagram style carousels on your website, and offer a workspace to design and collaborate with your team.

 

Newsroom AI

 

Another powerful Web Stories tool that builds on a more immersive and intimate experience with your audience. Newsroom offers a freestyle functionality web story builder that lets you add shapes, media, or text layers however you want. Newsroom also gives access to over three hundred million Getty Images to upscale your content with free images and use the advanced publish settings to Connect to Google Discover to get more views.

 

Get to know each of these different Google web story tools to find the one that works best for you. While many of these 3rd Party tools are useful, it is always a good idea to learn the one that was developed first to get the most out of this new feature, as it is likely to be the most compatible. However, it is only natural for more tools and resources to become more beneficial and valuable as time goes on.