Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Revising And Expanding Your Product List and Sales Growth

Do not become locked into your current “Product List”

Managing online sales growth
Business growth can be driven by a number of factors and fundamentals. One of the key fundamentals is your product list.

You have great products and your customers love each one of them. That’s wonderful, but wouldn’t it be more wonderful if you had twice as many products that your customers could also love? There is no guarantee that doubling your product list will double your profits, but would you be satisfied if doing such were to expand your profits by 50% or 80%?

At least two or more times a year you should review and analyze the potential sales growth and profits from adding more specific products to your existing online products availability list. These newly added products could be new products you have created, products created by bundling a multiple number of your existing products into a unique group of new products for example: “buy a package of 3 and get discount,” or enter into distributor agreements to represent other manufacturers’ products.

Look carefully at what you currently offer, what additional products are your customers buying from other sources? Can you add a product to your current product list that will fit into your existing customer’s needed or desired purchase plans? Can you price the product such that it delvers value to your customers? Can you provide these new products to your customers for a profit to your operations?

Do this review at least twice a year. Be objective and if the results indicate a need to expand, do not be afraid to do so. As you expand, using World Market as a distribution channel can reduce your risk. Using World Market to introduce your new products means you only pay when there is a sale of your product. NO sale – NO fee!

World Market proves that it can sell your product before you pay. That means you can try a new sales program and incur no marketing or sales cost until World Market proves to you that your expansion plan works. World Market removes the marketing and promotion risks in your expansion plans. You fail and World Market takes a loss. That is amazing when you consider World Market offers you the opportunity to reach 2.4 billion internet users in 235 countries and territories. Just Amazing!