There are many problems that will surface once you start the selling process. Following are some such problems and the ways to solve them.
Managing low sales − At times, despite selling a very good product you may not receive a very welcoming response from the customer, resulting in poor sales. Try to figure out the reasons for the same and implement the ways to increase the sales.
Managing quality amidst competition − There are hundreds of sellers who may be selling the same product as you. Hence, you need to stand apart. In doing so, you need to find ways in which to make your product look more appealing than the others in the race. It should have the desired quality along with an economical price.
Lowering prices and margins − At times you will have to lower the price of your product as other competitors have started to sell the same product at a lesser price. This needs to be done even if it results in lesser profit. However, even if the price goes low, be sure to maintain a good demand for the product. Only then will you be able to stay in business.
Managing inventories − You need to be calculative of when and in what quantity you will need the product to maintain a smooth and controlled flow of the product. It should not be such that you have a demand for a product but are unable to meet it. It should also not be the other way that you have loads of product but less demand for the same. It is this essential to stock up the right quantity.
Managing cancellation of order − Sometimes it happens that the customer places an order for purchase and then cancels the order. Try figuring out the reason and rectify it so that such cancellations do not occur again.
Managing return or exchange of products − Many a times the customer demands an exchange or return of the product. Know the grievances and try to meet the customer’s demand. The product may be in proper shape when you shipped it but may have got damaged on the way. No customer will be willing to accept the damaged product for a fair sum that he/she paid. These types of losses happen in business and you need to bear them in return of winning a dedicated customer.
Managing poor rating − The other big ordeal is to manage a poor rating. You need to continuously keep a check on your rating and regulate it. No customer likes to purchase from a seller having a poor rating or a poor feedback for they cannot put their trust in such a seller. It thus becomes mandatory to manage your ratings.
Managing poor customer feedback − There will be times you will have to deal with arrogant customers. To pacify such customers and make them believe in your product, behave tactfully with them. Listen carefully about their problem, be cool and resolve it in an efficient manner. Do not exaggerate or argue with your customer. If the customer is too aggressive, apologize so that the customer does not turn away from your product. Winning the customer is half the business done.