Online Retail 101: Developing Your E-Commerce Retail Strategy
When it comes to retail, E-commerce is probably the most talked about term in 2020!
E-commerce isn’t just useful for sustaining the business in the short-term but it is also vital for long-term growth.
As competition increases and in-store retail becomes challenging, with the right tools and platforms, you can create a winning e-commerce strategy that can help you reach your target customers and get your sales back on track!
So, here’s a quick guide to e-commerce success:
I. Deliver value
Before building or reviewing your e-commerce offerings, ask yourself why should the customer opt for your product or service? What value do you add that no one else does?
Identifying your competitive advantage will help you create an online platform that attracts your target audience and engages them.
When you have a solid understanding of what differentiates your business, you can capitalize on that and create an unmatched retail experience.
II. Get the basics right
No matter how amazing a product is, if the website isn’t visually appealing or easy to navigate, you can lose customers before they even reach the check-out point.
Today’s tech-savvy customer expects a good online retail experience, so it is important to get the basics right when it comes to website functionality and interface. Some of the things to focus on include:
- Consistent branding;
- Detailed product and company information;
- Good imagery;
- Multiple easy and flexible payment options;
- Convenient delivery options;
- And adequate customer support.
- Take a ‘customer first’ approach
Taking a ‘customer first’ approach is simply paying attention to your customer’s preferences and focusing on their feedback.
During these uncertain times, customer preferences are changing at an unprecedented pace. This is why, to tailor your offerings to your customer’s requirements, it is important to keep a close eye on your customers’ sentiments.
For instance, research shows that the pandemic has led to an increase in demand for ethical and sustainably produced products. So, if that is something that matters to your customers, it is worth sharing what you’re doing, on this front, with your customers or, if possible, find ways to make these changes.
III. Focus on marketing
Lastly, bringing everything together is essential.
When you are aware of your customers’ preferences and have data from your e-commerce site about customer behaviour, you can leverage that to create a content marketing strategy that resonates with your audience.
Additionally, research from Devrix shows that social media influences 74% of shoppers in their purchasing decisions, so it’s worth bringing social media marketing into the mix.
If we have to summarize what a great e-commerce strategy is based on – we’d say customer insights.
At Storesupport, we work with our customers to create e-commerce platforms that help them narrate their brand story, strengthen customer relationships, and increase conversions.
To see how we can help you take your online retail offerings up a notch, contact us today by calling us on 1-877-421-5081 or visiting www.storesupport.ca.
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