Worried of Big e-Commerce Marketplaces Stealing Your Business – Things to Work Upon
Cutthroat competition in e-Commerce business asks entrepreneurs to think and strategize their business strategy to yield the best outcome. Considering the e-commerce giants likes Amazon, ebay serving the industry since years and with dollars of investment, it’s tough for small-scale industries and start-up to meet the industry demand and grow gradually.
If you ask anyone about shopping online, Amazon is the first preference considering the prompt and free delivery it provides with easy free returns! Product delivery you get from Amazon in a day and that is even in few hours if you’re in metro cities definitely entice customers to buy from! Great products, continuous support services, excellent buying process and the trust factor they have built among customers are the value propositions for such big ecommerce companies especially for marketplaces which provide one-stop solution through their ecommerce websites and mobile application for both Android and iOS.
It’s the anytime go-to solution for the customers but a big threat for the entrepreneurs to do the business. Selling their products primarily on such marketplaces couldn’t be deniable to generate the sales and revenue to remain alive but no control over the market factors forces them to build their own asset though not in a day at least gradually. And this is the year to start with!
What steps you should take to compete and build your own brand:
Build Outstanding Shopping Platform
There are the ecommerce sites like Amazon from where people start their product search even before Google and Bing search engines. In such cases, it is important for the entrepreneurs to come up with the solution that stands out. Of course they have huge amount of products and investments, so not telling to build such huge empire but whatever your power is make it worthy that create a huge and strong impact.
Your platform itself should speak about what you’re. Forget about readymade soulless templates used by many ecommerce sites. Create your customized e-commerce website, mobile application that represents your business and brand value.
It should be easy, anytime accessible, and convenient with any device. Smoothness in add to cart, quick shopping, safety in payment, Secure data processing etc. builds the trust and that only makes user to come to you and shop from you.
Create an Enriching Experience for First Time Customer
Your customers have Amazon, ebay, Walmart and many more. It’s you who want them and thus it is important for entrepreneurs to serve excellent products and services to your clients so that they come to you and experience your brand.
Convincing someone to buy from your site over their friendly store like Amazon is really very tough and thus you need to put some extra efforts to do so. De-risk all the possibilities of buying from an unknown brand so that customer can think of shopping with you.
Offer attractive discounts, pre-sales and post-sales services, easy and free return, free delivery and many more that can entice clients to shop from you. The chances are higher of returning visitor if they’ll be happy buying from you.
Invest in Customer Retention
To build a new customer one has to invest dollars in marketing and promotional activities. The struggle won’t end there, one has to keep dedicated sales and support team through-out the process for better assistant in order to close the deal successfully. It is time-consuming, takes too much human efforts and costly as well. And thus you shouldn’t afford they left just in one transaction. Cost of retaining old customer is way lesser than bringing new customer if served very well.
Try creating offers that ask clients to make a second purchase with you, subscription commerce is in the trends and that helps a lot to build long-term customer relationships. Set aims to increase customer lifetime value with your brand. Suggest related products, build remarketing campaigns, focus other marketing campaigns that give reminder to clients either directly or indirectly and keep yourself in top of their mind.
Irrespective of the size of your business, the value proposition your eCommerce business provides affects the most. Focus on the customer services and create enriching customer satisfaction that will only help you to grow further and faster in this competitive era.