E-commerce strategies to beat the competition

E-commerce is growing at a rapid rate. The Internet has become the hub of transactions in the modern world. Why go outside when all the purchase and payments can be done at the comfort of your bedroom. People have become picky as there is so much to choose from. The graph of online purchasing is on the rise and it is not going to slow down any time soon. There are different types of e-commerce merchants who make sure that you have the desired products available to you at a decent price. These merchants include stores that sell physical goods, service-based e-tailers, etc.

But there is a whole process behind running a commercial e-commerce business. You just cannot sit back and relax by making your product available on the Internet. It isn’t the best way of gaining loyal customers and attracting more spending buyers. An e-commerce website requires a well planned B2B strategy. The need for these strategies become even more important as there is a whole lot of competition around. If you don’t analyze what your competition is doing, you are going to fall far behind. Right from effective pricing to the ideal customer purchasing experience, there are many different aspects that need to be fulfilled in those strategies. Some of them are explained below –

  • Mobile responsive website

Mobile has become the go-to device when it comes to shopping. Gone are the days when all the online transactions were done on a desktop. Having a mobile responsive website is a must now. More than 53 percent of e-commerce websites are mobile responsive today. People want comfort at every level and nothing can be more comfortable than online purchasing from your mobile. 9 out of 10 customers are going to buy from the same website if the experience is excellent. This implies of the website is not mobile responsive, you are going to lose a chunk of your customers. Additionally, a responsive website will help in increasing visibility on search engines leading more visitors to your website.

  • Ratings and reviews

The process of buying starts with intent. A customer will go online when he has intention of buying something. But don’t mistake the purchase closing with the buying process. Another important aspect is of ratings and reviews. The whole process closes with the customer rating and reviewing the buying experience. If they are happy with the product, expect a positive review, whereas, if they are not – a negative review is in order. It is proof that you are genuine and people trust you. According to a study, adding product rating and review will blow up the site’s conversion ratio by 270 percent. The reviews in an e-commerce industry can be enhanced by dealing in Online Reputation Management (ORM).

  • Mobile App

One of the best e-commerce strategies is to have a mobile app. In today’s modern world, it is difficult to keep up with the trends if you don’t have a mobile app. Any search made on your app means that people are exclusively searching for you only whereas in search engines, they can be directed to any other website. An app reduces friction and enhances the conversion ratios. The competition is cutthroat in the market and an app distinguishes you from the others. The app that you design should prioritize user experience and make sure that the website is user-friendly. Another important thing to remember is to keep the payment gateway smooth. People are not going to make online transaction if they find the payment page to be tricky.

  • Customer friendly website

Have you ever wondered by people prefer online purchase nowadays? The answer is because they have a lot to choose from without any real effort. All it takes is the surfing of the website and adding the item to the cart. This is why it becomes important to make a customer friendly website. No customer should leave your website due to poor website design. The success of e-commerce depends a lot on the customer-friendly experience. Some of the common features that have become a must in a website are – save items in the cart, multiple items in one cart, saving card details, cancellation policy, etc.

  • Niche marketing > Mass marketing

Being an expert always helps. There are numerous websites which serve a lot of different purposes. You will find different solutions on their website. But if you go deep inside these websites, you won’t find perfection. Instead of mass marketing, prefer niche marketing. An e-commerce website gets more hit when there are products listed as exclusive and private. It garners more attention from the viewers as people want to own these exclusive products. Exclusivity is a feature which is surely going to take your business a lot higher and if you are not tapping this feature, then get on with it quickly.

  • Rewarding loyal customers

Your customers are the most important part of your business. They are the ones who make or break you. In the business of e-commerce, you have to prioritize the customers and make them feel special. Returning customers are even more important than the first-timers. Rewarding loyal customers helps big time in maintaining your solid position in the market. This makes them feel important which improves their relationship with your brand. Extra discounts, vouchers, coupon codes, etc. are some ways to reward them. Around 18 percent of the website’s total profit is made by the loyal customer base.

  • Other factors

You need to keep your prices competitive. There are a lot of options out there in the market for people to choose from. Pricing is the main driving force for taking a decision. If you need to earn initial attention, then first-time discounts is a great method. Research the e-commerce market thoroughly before making any decision. Last but not least, keep a cordial relationship with the supplier. It will help you a lot in the long term. Keeping a track of the inventory can be grueling and if you have a great relationship with your supplier, you will find success.

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