It’s normal to be overwhelmed by the sheer number of rivals in your niche if you’re an e-commerce start-up owner. However, keep in mind that a competitive market indicates existing demand, making e-commerce a profitable sector to be in.
The great thing is that to appreciate the company’s popularity; you don’t have to beat bigwigs like Amazon, eBay, or Wal-Mart. Scale up your online shop and differentiate yourself from the other online retailers by identifying a business vacuum and sculpting your niche to the target audience.
Here are some of the strategies you can apply to ensure your start-up is on the right trajectory as far as growth is concerned.
Start contextualized marketing campaigns.
Contextualized marketing is the thing for you in case you want to foster better prospecting relationships with your potential customers and raise the odds of people buying from your online shop.
From the information you get about your customers, you can ensure your marketing content is more specific and relevant to your target audience.
Encourage user-generated content.
The content created by the user will enable you to create premium, authentic and exclusive content for your brand that will make your competition outstanding. UGC has a significant impact on purchase decisions, according to 79 percent of customers. Any brand story you share on social media is less valuable than user-generated content.
Consumers value user-generated content like feedback, comments, images, and other types of user-generated content rather than conventional ads and advertisements like Radio and television. Customers like first-hand accounts from people who have previously ordered a commodity. This is because users think user reviews are more genuine and trustworthy than advertisements.
Increase the number of connections and collaborations.
Working with other brands and influencers in your industry will help your start-up gain recognition and boost its online reputation. To give your brand an authentic voice and cultivate trust, reach out to influencers, micro-influencers, writers, and reporters in your business.
These connections will help you to sell packages/bundles and, consequentially, help new customers learn about your shop and drive traffic to your website. It will not cost you or your partner anything extra, but it will benefit both of you by increasing consumer knowledge of each business’s online presence.
Create videos that teach consumers how to use your goods
How-to guides, presentations, and behind-the-scenes glimpses are common because they are interactive. They give the impression that clients are getting to know who you are, and as a result, they will be more interested in purchasing from you.
You can achieve this by creating videos and uploading them to a YouTube channel. This is definitely a fun way to communicate with your future clients.
Provide a variety of payment methods.
Isn’t it true that you want your buyers to complete the buying transaction? So, have a wide range of common payment gateways to ensure a smooth and easy checkout process. Though handling various gateways and accounts can sound cumbersome, it’s worthwhile to have simple and safe solutions like PayPal, Amazon Pay, Google Pay, Apple Pay, Stripe, and common credit and debit cards.
Enable shoppers to store their payment details as well, guaranteeing a seamless future shopping experience.
Allow for generous return and refund plans.
According to an Invesp infographic, 67 percent of shoppers look through a site’s returns policy page prior to buying anything. Customers will not buy from you if you do not have reassuring return and reimbursement plans. Besides, according to the same infographic, 92 percent of consumers would purchase again if the product return procedure is easy.
As a result, providing generous return and refund plans would not only increase revenue but also improve the customer-company relationship, allowing you to stand out in the crowded e-commerce market.
Some online clothing stores provide free returns and exchanges and have tutorials about how to make the operation run as smoothly as possible.
Give away products, and create a buzz.
In return for a glowing testimonial or analysis, you can give away your stuff for free or for a meager price. Consider the term “review bloggers.” The larger the audience for these reviewers, the better. You’ll be able to reach a large audience for the price of your product. To generate buzz, you can also host giveaways on social media. Simply asking people to share a photo of your product in exchange for a chance to win could result in a legion of raving fans. When it comes to social media…
Provide a variety of shipping options.
Your customers will abandon their checkout process due to the additional cost of shipping the goods. According to the Baymard Institute, the additional expense of transportation and taxes is the leading cause of cart abandonment.
Offer versatile delivery plans to give your clients an incentive to prefer you over your rivals. Take advantage of free or expedited shipping to gain a competitive advantage. Retail behemoths like Wal-Mart and Amazon can teach us a lot in this region.
Offer free shipping on regular orders, but charge extra on a rush or time-sensitive packages.
Offer free shipping on orders over a certain amount.
In the e-commerce world, the rivalry is fierce and unforgiving. With millions of companies competing for attention in the e-commerce sector, it can be difficult for entrepreneurs to stand out.
In this dynamic world, scaling your start-up is not easy. Implementing the foolproof tactics outlined in this article, on the other hand, will help your brand stand out in a sea of e-commerce stores and bring in more revenue.