Online retailer iBuyOfficeSupply .com of Plymouth is pushing the envelope on growth with cutting-edge Internet marketing strategies.
But the ones that do work are expected to help boost sales more than 60 percent this year to a projected $7.5 million. Weber expects iBuyOfficeSupply.com to be among the top five Twin Cities companies in this year’s Inc. 500, with sales growing by a recession-defying 830 percent from 2008 to 2010.
“Some of it, candidly, is trial and error,” Weber said of Internet marketing. “You try a lot of different things on the Internet. It’s kind of a live-and-learn process.”
The company also is expecting to do big business with the federal government, one of its newest customers and by far its largest, with sales expected to reach $1 million this year, Weber said.
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The expert says: Dileep Rao, president of InterFinance Corp. in Golden Valley and a nationally recognized author, said entrepreneurs can learn a few lesson’s from Weber’s experience with iBuyOfficeSupply.com.
Rao, also a professor of entrepreneurship at Florida International University, said Weber’s “fail small, win big” marketing strategy is used by most successful entrepreneurs — think Jeff Bezos of Amazon.com fame. “This means try many small things such as new products or marketing initiatives, in this case,” Rao said. “Ride the ones that succeed and dump the ones that don’t.”
Read: “Office supply sales surge with online push,“ an article by StarTribune.