Simon Riley, co-founder of Quality Bearings
Quality Bearings Online, an award-winning e-commerce supplier of bearings and engineering spares has doubled their turnover again, for the third year running.
Founded in 2012, Quality Bearings Online originally focused upon the UK market.
However, slow initial growth and a chance series of international orders in 2015 changed their strategy completely.
Working with the Department for International Trade, Quality Bearings Online began a three-month research project, analyzing website traffic, key growth countries, market accessibility, competitors and pricing.
Simon Riley, co-founder, explained: “This really helped give us focus, and we highlighted several key regions which we thought were accessible, and had growth potential.
“Our next step was then to develop the existing website, improving the user journey, giving customers in target countries a more tailored experience.
“This improved website conversion ratios and average order values almost overnight but as the orders began to grow, other challenges emerged.
“An early investment in integrated e-commerce software, stock control and accounting has really helped to keep our order handling costs down, whilst improving delivery times and accuracy.
“This system is fully scalable, giving us several years of growth without the need for further investment.
“All of this investment has paid off. Our team members don’t want to leave as they enjoy what they do, and we’re consistently coming up with new improvements, all generated by a bright, passionate and enthusiastic team.
“Maintaining our e-commerce edge is key, so we have our own dedicated website manager, Mark Harrison, who regularly checks how we perform against the best in industry.
Simon Riley, co-founder, commented: “Exporting has revolutionised our business, allowing us to expand in a way we never thought possible.
“We now count some of the world’s largest companies as regular customers, and export every week to over 107 countries.”
“Having a clear vision and brand values is very important for future direction. Working with our team, we developed our vision several years ago.
“Everything we do now builds upon these values and our mission statement: Never Competing, Always Exceeding.”
Cementing a year of success, the business has also been shortlisted for Exporter of the Year as part of the Lloyds Bank National Business Awards.
Quality Bearings Online now is expecting to double their turnover again in 2018/2019, with a further expansion in both UK and export markets.
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