If you are running up your e-Commerce in years, you might have been setting your best marketing plans to boost up your online sales. Then, you should know where your online sales growth would come from. Taking from my personal experience, IM experts‘ pieces of advice, and some information from business news about large e-Commerce companies, generally online sales growth rely on new markets, larger salesforce, or product innovation. It depends on the type of your e-Commerce business. You believe it or not, in this digital era, e-commerce is a sophisticating source of new customers. Just take a look at the proof: in recent years holiday season, Black Friday has always been a less-fervent, while Cyber Monday smashed the ball down hits the target! So, before we go further to the e-Commerce Strategies, let’s we recall about awhile.
Recommended topic: How Black Friday Differs to Cyber Monday and How to Use Them in Marketing (coming soon).
What is e-Commerce Strategy?
E-Commerce Strategy refers to a methodology that internet marketers mainly developed to relieve the management activities of e-commerce websites to set all resources to optimize the entire operations to achieve common goals. Meanwhile, through many pieces of research in technology development, customer behavior, online business development, and supply chain development, IM experts found some brilliant e-commerce strategies that can be implemented in this digital age.
Make Use of E-Commerce Strategies to Grow Your Business
Taking from some yearly forecasts from the eMarketer for a few years ago, the retail e-commerce sales of the United States was estimated have made sales approximately $270 billion and have sales increased approximately 16 percent per year. The eMarketer also estimates that the annual growth (CAGR) of entire United States’ e-Commerce sales by 2017 would be about $440 billion or would increase by 13.8 percent from 2016. Meanwhile, the interesting topic from that sales growth phenomenon is how startups and small e-commerce businesses can seize their market share from the booming of e-commerce in this digital age.
So we’ve summarized some (would be updated to add more) e-commerce strategies, which were taken from our own business analysis and other credible sources.
1. Targeting to a More Specific Online Audience
Basically, a simple illustration for e-commerce, it is about building a “zone”: setting up and making a site to get an online audience with a certain characteristic or interest. This is one of some e-commerce strategies that focuses in specifying online audience. So, in this strategy, you need to define a product or service that meets to some targeted niche markets that your site can reach through online with distinctive offerings.
2. Personalized Promotions
The visitors to your sites are more ease and comfortable with online shopping experiences that meet their needs and interests. You can involve features with the latest technology, no matter how small your e-commerce, you can arrest your individual shoppers’ behalf and choices. You can also deliver a product choice feature and shopping experience to your online audience that directed by personalized promotions.
3. Publish Content Substantially
A successful e-commerce posts a lot of content to make potential buyers linger on the site. You can see how large e-commerce websites like Alibaba, Amazon, or Aliexpress seize millions of customers. Those big e-commerce companies are driving most of their clients to give some reviews to the goods they bought. However, making a substantial content to your e-commerce site isn’t as easy as copy-paste. Invest your time to build quality content with a good keyword strategy. You can improve your skill in this strategy by learning SEO.
4. Adjust the Browsing Experience to The Objective Segments
Design your logo, design your site with appropriate e-commerce look, and manage your site’s navigation structure. Those three factors are notable elements for appealing your web visitors and have them to visit back in other days. Therefore, do it your best to make an eye catching and interesting browsing experience. Make your e-commerce accessible in all online platforms such as PC browsers, mobile browsers, and app. For example, let’s say you would like to sell modish women clothes to the young woman. Then, you can give feminine colors with a glittering design to awaken a sense of feminine and youth. For a better result, you can improve your web designing skills by learning about web design.
5. Incorporate Canalization
Provide multi-tier alternatives to give a brand-consistent experience to your customers. To support a safety shopping experience, provide various options shopping methods. However, you should make a differentiation for the products’ channels adequately to define price diversity.
6. Deliver Mobile Experience
The rapid development of mobile technology has a positive impact towards mobile commerce (m-commerce). From year to year m-commerce has been growing at a rate of over 130 percent. If an e-commerce business is not high enough in mobile commerce development, the business would encounter a sizable income reduction in the near future. It is the effect of competition in the e-commerce world, in which most of the people now are prefer to shop around through mobile app. Most of the giant e-commerce companies have been offering mobile shopping app and services. With this strategy, your e-commerce business can be more interactive with your customers by providing mobile services such as real-time notifications, supports, chat, delivery status, click-to-call, GPS maps, and product details.
7. Click Logistics Feature
Nowadays, there are a lot of logistic services which provide easy script, plug-in or module to support e-commerce made easy and quick. Most of the provide features such as delivery cost calculator completed with a wide range of destinations. Using the competence third-party logistics providers (3PLs) may help you to cut off your burden in responding to vast intricate orders. Use a number of 3PLs as a logistics option in your e-commerce site that capable of handling fast exchanges and returns and exchanges yet efficiently.
8. Subscription Commerce Option
A subscription commerce strategy is a customer approach by delivering short long-term or long subscription forms with a different pricing for each subscription volume instead of one-time purchase. In other words, this e-commerce strategy is also called as a replenishment model or one-off periodical purchase. In which, the goods your customer buy will be delivered every week, month, or year.
This strategy makes you a more capable in forecasting, handling goods turnover, and intensifying customer loyalty. To implement this e-commerce strategy, try to define a product (as described in e-commerce strategy number one) that is hard-to-find. Instead, you can add some values to any typical product which other e-commerce companies cannot offer. If necessary, patent those values, so that you are a step leveling up to be a more competitive advantage e-commerce.
9. Become a Wholesale Alternative
The emergence of new small companies is unstoppable, especially in a fast-growing populated country. It’s because they know realize that the Internet is a tempting mediation to grab a lot of customers quickly. That’s right, as long as they know the rules. That statement can be proved in a most populated country in the world, China. Almost all small businesses and large business in China now employ a popular e-commerce website, such as Alibaba, Aliexpress, and etc, to sell product directly to end-customers. This e-commerce strategy is useful to bypass the middlemen or wholesaler. Employing middlemen costs you double while employing wholesalers is a complex distribution.
This e-commerce strategy is useful to bypass the middlemen or wholesaler. Employing middlemen costs you double while employing wholesalers is a complex distribution. This is an advantage to e-commerce business, which is becoming the best alternative to bypass the middlemen. Besides, between e-commerce and manufacturers or factories are mutually needing each other. While, the most interesting one is, among manufacturers or factories, e-commerce, and 3PLs mutually need each other. This partnership combination makes small business can compete with large business, many businesses can cut product distribution costs and sell their product directly to their customers via e-commerce services. Another advantage is that you can add up the product diversity and availability to your e-commerce business in cooperating with small brands.
There are three main benefits that you can offer to other firms in applying this e-commerce strategy; you can offer shelf space limitations thrift, low-cost marketing, and out of complex supply chains.
10. Promote a Seamless Experience in All Lines
This is one of the most important approaches to all e-commerce strategies. In which, you can offer a value that is capable of being a seamless experience site in all lines. There is much e-commerce dare to give guaranty for this promise. It’s because they can make sure that their sales will grow when they also ensure that brand experience, product availability, and promotional strategies, are harmoniously working over all lines. In this e-commerce strategy, you may offer online, mobile device, or even in-store shopping experience. Employ a cloud-based supply chain system to obtain seamless work over all of your e-commerce lines.
11. Exhibit an Exclusive Option.
Exclusive Option is an e-commerce strategy the central attention of the exhibition of a narrow and deep products assortment in one of your product category. In this strategy you can show products feel exclusive, the adversity in searching the goods elsewhere, and the strength of customer groups. For a more proficient in this e-commerce strategy, you can learn about the art of selling strategies.
E-commerce companies and IM experts got e-commerce strategies from their real experience in implementing e-commerce. You can use those e-commerce strategies to make more margins in your business. While to generate good ideas in expanding e-commerce business is best by researching real experience.