Competition in the retail market is fierce, especially online. So before you rush off to create your new e-commerce website and start marketing your brand, you need to figure out some solid logistics of how to get from nowhere to success.
The good news is that e-commerce is now more popular than ever. The bad news is there is more competition than ever before. Although the online marketplace is crowded, you don’t necessarily have to compete with Amazon. If you find your niche and target a specific audience, you can market your wares quite well online with a little planning and strategy.
E-commerce retail sales top $300 billion each year. There is ample opportunity for you to fit into that space and make your share of the wealth with an e-commerce business of your own design.
Why is E-Commerce So Popular
Even when retail shops and big conglomerates are closing their doors, the internet flourishes. For the past few years, online sales have risen 19 percent per year, regardless of what is happening in other areas of economics.
Online shopping offers the absolute pinnacle of competition. Any ordinary person can sell the same item online cheaper than Amazon and make a profit. It’s every man’s dream. The internet has leveled the playing field when it comes to commerce.
For the shopper, you can buy just about anything online while sitting at home in your pajamas. You can’t beat the convenience and you don’t have to travel, use up gas, and your purchases often come with free shipping. Within just a few days, your prize shows up on your doorstep in a box. What could be better than that?
The Recipe for Success with E-Commerce Business
The most important aspect of making your e-commerce shop work is knowing your customer inside and out. Take the time to dig deep and analyze big data to profile your target audience. This information will become the blueprint for your digital marketing efforts later.
When you hit it big, you don’t want to suddenly flail out of control because your logistics didn’t account for free shipping or returns. Make your plans before you need them. Have solid policies in place and post them clearly on your site, so your customers know exactly what the rules of doing business with you are and how to get what they need.
Some smaller shops even partner with 3PL providers so they don’t have to keep any inventory on hand. These services handle all order fulfillment, shipping, and returns. Outsourcing can sure help streamline your new business and allow you to focus on marketing, sales, and content.
How to Market Your E-Commerce Company Successfully
Along with just selling your products, you are also selling your brand. Consumers are well-educated and impatient. To keep them engaged, you need to do much more than just put products on your website for sale. You need to connect with them and then keep a conversation going to keep them coming back for more.
Some ways you can do this is to send tailored emails out periodically to your customer list. Another way to keep your audience engaged, is to post relevant, interesting content on your blog, social media, and partner sites. When it comes time to buy, they will remember that piece of content and refer back to you.
While you are marketing your online business, you need to collect and analyze the data to help continue making adjustments and changes to the digital mix. The results will show you if you have outpaced your competition or highlight areas where you are lagging and need to step up the promotion.
As you know, eCommerce is a huge platform so there might be things that you will not manage to do. In that case, you can always refer to a business coach who will lead you and tell you so many secrets which will help your business grow. For example, it would be really helpful to know more about accountability for business owners, as it can help on so many levels, from measuring progress, providing feedback to evaluating the effectiveness of your business in order to do strategic planning for the future.
The Power of Social Media
More than 56 percent of online shoppers use Facebook every day, and they share information about products they like and dislike. You cannot ignore the influence of social media, so instead use it to your advantage. Go where the conversation is happening.
Post regularly to several channels with your custom-targeted content for your audience. Set up channels for support where your customers can reach you, and you can respond to any inquiries and disputes. Set up a marketing schedule and coordinate all your marketing efforts to work together across all social media accounts.
Social media is not where you sell to your customers; it’s where you connect with them and make a name for yourself. You are promoting your brand, and that is the bread and butter of your e-commerce business. Social media is a powerful tool, changing industries from the public sector to the private. With it, you can use to promote your company in a variety of ways. Check out social media ads as well for increased promotion.
The Nuts and Bolts of E-Commerce
Your online presence is critical to the mix of being successful. First, ensure that you have adequate hosting bandwidth and proper security to keep your customer’s information safe. Have around-the-clock monitoring and test everything frequently to be sure your site stays operational at all times. Make buying from you as easy as possible. Don’t make the shopping cart complicated or lengthy. People want options to check out quickly and move on.
Offer free shipping if you can and a generous return policy. You are literally competing with Amazon, and they offer both. Price shop around, so you know that you are providing the best deal in town. If you are not the cheapest, you’ll have to justify why and what extras your customers will get buying from you.
Optimize your website and all content for mobile. By next year, 72 percent of all digital marketing will be spent on mobile. Your mobile presence is critical to your success. Younger generations are mobile-only, and you cannot afford to cut out that large a demographic and lose them because your website fails on a mobile device.
Final Tips
Another crucial area to focus on is SEO. Hire an expert to take care of this piece for you; it is complex and ever-changing. Use high-quality graphics and video in all your marketing content. Nothing sells quite like a visual aid. Keep your focus always on the customer and their changing needs. Continue to evolve and improve your business as you grow, and you will undoubtedly experience success with your e-commerce endeavor.
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