Before building your e-commerce site, you have to step back and create your e-commerce marketing strategy by answering a few basic questions. Perhaps the most important question is why your customers should choose you over your competitors.
The answer will guide your online marketing strategy and the direction of your brand. An effective brand helps you find your audience and your place in the market. It’s also essential to telling a consistent story about your business.
This consistency builds trust. Trust leads to sales. And sales are the basis of a thriving e-commerce business
Businesses often succeed in e-commerce when they start with a small number of unique, competitive products they will be sure to have in stock. Use your market research to choose products that stand out. Here are other factors to consider when choosing what to sell.
5 factors to consider when deciding what to sell
Lighter products are cheaper to ship and offer better margins online. Shipping costs are a frequent cause of shopping cart abandonment.
2. Customization level
Customization can be a unique selling point, but it’s also a source of additional cost. Variations in product colour, size and other elements can increase inventory costs and the risk of fulfilment mistakes.
3. The competition
Your competitors’ products and price levels have a direct impact on what you’re able to sell and charge. It’s key to
know the marketplace and decide which of your products are the most competitive.
4. Product fragility
Selling fragile goods increases shipping costs and could complicate customer service if too many products break
on their way to the client.
Different products sell at different levels at various times
of the year. This can affect your cash flow, your busy season
and your cost structure
Research your online market for a successful e-commerce marketing
You’ll first want to understand how much online demand there is for your products and/or services.
2. Next, use published research to get an overview of consumer demographics, industry trends, market share, etc. Other sources include articles from business magazines and periodicals, trade associations and analyst reports
or company annual reports.
3. Finally, you may want to consider gathering original information, through interviews and other first hand methods,
specifically about your product or business.
Study the competition
After looking at online demand, you’ll want to understand the online supply. Take a look at the competition with an
in-depth online search. Also talk to salespeople, suppliers and other industry players. This should help you answer the
• Is there a leading player in your industry?
• Is the market overcrowded?
• Is there a market niche that isn’t currently being served?
• What is the quality of competitors’ websites, and what
customer experience do they offer?
• How are your competitors positioned in the market?
• How much are competitors charging?
• Is the competition well rated on review sites and social media?
Define your target market
The data you’ve already collected will help you choose your target customers and understand what they want from your business. This can include purchasing behaviors, demographics, social values, media consumption habits and more.
Focusing on specific segments of your total potential market lets you increase the returns on your marketing efforts. You can tailor your messaging to resonate with a specific type of client. You can also create target personas—fictional characters used to understand customer expectations online related to user experience, ease-of-use and navigability.
Reach your customers
You might be tempted to pursue online sales on marketplaces such as Amazon, eBay, Alibaba and Etsy. These platforms allow you to reach a large audience with a lower initial investment and less technical complexity. However, such sites can also charge high commission rates.
We recommend you adapt your online sales strategy per channel. For example, you may want to sell returned goods on eBay. Or you could decide to sell last year’s collection on Amazon at great prices to increase your score on the Best Sellers list.
Every customer interaction is an opportunity to build trust. But some interactions are more important than others. Here are six moments that deserve a bit more attention in your e-commerce journey.
6 key e-commerce customer interactions
Establishing trust online can be difficult. Clients will read reviews and testimonials on your website, but they will put more importance on independent sources such as blogs.
➁ Initial contact
Potential clients will often try to contact you to ask questions about your products or services. Make sure you can be reached by phone, email, chat or social media. Remember that e-commerce consumers can be anywhere in the world and you want to answer any question within eight to 12 hours.
Online customers increasingly expect a trial period before making a final purchase. If you can’t offer a trial, consider offering a strategic discount code, free samples or other perks to help convert leads.
Make purchasing as painless as possible. Aim for a one-click purchasing experience by gathering as much information as possible from your clients during their first purchase.
➄ Shipping and return
Shipping is crucial to a positive customer experience. Online clients typically want rapid and free or low-cost shipping and the ability to track shipments. They also want hassle-free, inexpensive returns.
➅ Retention and loyalty
We strongly recommend reengaging with customers after the sale. You want to know more about the customer service you offered, but you also want clients to talk about you to their friends and to advocate for you. If you know that a client is happy with your business, don’t be afraid to ask for referrals or a testimonial
You’ve figured out what you want to sell and who’s going to buy. Now you need an action plan to bring your e-commerce site to life. An action plan details the concrete steps needed to attain your goals—usually covering the
coming year—and a timetable for each task. Here are five key steps to create your e-commerce marketing action plan.
Contact Musato Technologies to learn more about our web services and ecommerce solutions.
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