Your plans to start business venture could really be exciting this year, but for growing your business and its revenue in 2015 could often be thought provoking. Any ideas where will your sales come from — discovering an altogether new market, an enthusiastic sales force, strong infrastructure, or product innovation? You simply missed out the fastest growing market that is E-Commerce. This could ideally be your amazing source of new customers. The evidence is quite prominent! There are a couple of online eCommerce sites that have been hitting the ball out of the park!
As per the industry specialists by 2017 the sale of e-commerce will touch $440 billion. Simply astonishing! It’s the right time for the small entrepreneurs and the startups to redefine their e-commerce strategy to grab their share of the e-commerce pie.
Here are 10 e-commerce strategies that you should implement in 2015:
1. Target Niche Market:
E-commerce is all about targeting a “specific territory”, defining and crafting a website to reach out audience sharing a common interest. Irrespective of your service and products, streamline your business’s niche markets that you can explore and penetrate with your specialized offerings.
2. Personalized Solutions:
People are now expecting a personalized and one-of-a-kind experience catering to their needs and preferences. There are several tools available, even to startups, to review individual shoppers’ preferences and needs and craft a product selection and shopping experience based on personalized promotion activities customized for them.
3. Create Interactive Content:
Most successful e-commerce sites rely on crowd-sourced content to make it more interactive and sticky for the buyers. Many sites have driven millions of consumers by enabling them to share their feedback and opinions about items like mobile, books and CDs. This could be extremely successful strategy to help customers to find you through Google. You must not forget using keywords and meta description to improve your ranking in search results.
4. Tailor the Browsing Experience to Target Segments:
Accurate site design and well-defined and easy navigation is the key to attracting the audience and encouraging them to come back. Offer a memorable browsing experience to your visitors. Right color combination, contrast shades, attractive fonts and flashy design can evoke a sense of delight and adventure.
5. Explore Mobility Solution:
M-commerce is yet another fastest growing concept. If your e-commerce platform is not robust and compatible with m-commerce, you will be losing a great chunk of visitors and witness a dramatic drop off in revenue also. You must offer mobile-compatible services like real-time notifications, maps, social connectivity and other product information to stay competitive in the global marketplace.
6. Integrate with Multiple Channels:
Develop and deploy multi-channel offerings, allowing your customers to experience your brand ubiquitousness and consistency, whatever their shopping mode of choice. Just ensure to justify the price difference, if any, in the products that you’re selling through different channels.
7. Collaborate with Logistics:
For better growth and functioning, you must leverage the potential of third-party logistics providers to handle a high volume of delivery orders. The capability to manage exchanges and returns expeditiously and effectively is the key factor that plays a role in customer retention. Efficient fulfillment networks and same-day delivery adds value to your service helping you stay competitive.
8. Shun the Middlemen:
The power of Internet is allowing small enterprises/startups also to approach lots of consumers easily and quickly. Manufacturers and big brands are willing to work with small brands. They have realized that startups can introduce new products to market as they are less restricted by shelf space limitations and typical supply chains.
9. Develop a Proprietary Selection:
This is a strategy that emphasis on curating a thin and in depth assortment of products in a specific category. These micro sites offer an exclusive feeling of depth and originality of the selection to the customers as these products are not easily availability elsewhere, and the strength of large customer communities.
10. Create Internet-Only Products Hub:
This strategy is the most exclusive one to trigger the buying potential of the customers. It also builds an exclusive brand with e-commerce as the only supply chain. You can offer products that are unavailable elsewhere. Selling these products directly to the customers online can help you retain the right of having a better flexibility over your margins.
I am sure these smart e-commerce strategies will surely help promote and grow your startup businesses. These are some of the most effective and time-tested tips that you can try out to boost your online venture! Be sure you trust and implement it all!