How can you win in the e-commerce space? It’s a question that many budding entrepreneurs find themselves asking every year. It’s so crowded, and yet there’s so much opportunity.
In this post, we provide some answers. If you’re struggling to make it work in the sector, check out this advice. It could be the best thing you read all day.
Build Better Supplier Relationships
Many new e-commerce entrepreneurs treat suppliers as they would any other service: badly.
But that’s not a good approach. Unlike a regular store or consumer brand, you’re totally reliant on your suppliers. If they don’t deliver, you don’t get paid.
Building better supplier relationships is one of the best ways to make your startup stand out from the competition. If you can work with a supplier as if they are part of your business, you can often dramatically improve the outcomes at your business. You’ll find that people are able to communicate with each other better, lead times become shorter and you never find yourself in a position where you’re out of stock.
Keep Your Site Updated
In 2021, an e-commerce strategy focused on tech is the best route available. You want to use technology to drive your business forward in ways that your competitors aren’t.
Start by developing your website. Implement innovative user experience options, such as one-click purchases and recommended products. Also, begin accepting alternative currencies, such as bitcoin and Ethereum. Explore every avenue to improve customer services.
Focus On Niche Products
Don’t try to stock everything. Instead, focus on niche markets. Make customers believe that they can get things from you that they can’t get anywhere else.
Many successful e-commerce companies follow this strategy. They look at the market as it is right now and ask whether they could improve a niche. They then focus on that area, finding ways to provide customers with better value, encouraging them to avoid shopping with big brands, such as Amazon.
Add A Mobile App
Don’t neglect to add a mobile app. Most consumers don’t use mobile browsers to access e-commerce websites. Instead they download apps so that they can shop natively.
Apps can improve the customer experience tremendously. Having a mobile app streamlines purchasing and makes it easier for you to curate the customer experience. It also gets rid of annoying browser bloat which can make the experience of your site less enjoyable.
Publicize Product Reviews And Ratings
Users who arrive at your store want to know whether their purchases will be any good. They are much less likely to buy if there is no social proof from other users. That’s why brands like Amazon put so much effort into making reviews and rating public. They help sell products.
Reviews’ biggest impact is on conversion rates. Some estimates suggest that simply adding trusted reviews to the product screen increases the conversion rate between three and four times.
In the past, e-commerce sites were just big platforms where companies would post links to products in their warehouse with some accompanying pictures. There is nothing wrong with that approach, but everyone is doing it. Thus, if you want to stand out, you have to try something different.
A good way to do this is to add videos to all your product pages. These allow you to convey more information than you could in simple product descriptions. They are also great from a user-engagement perspective. Many times, customers prefer to watch a sales rep using a product instead of reading a simple description about it.
Make Your Site More Responsive
Today’s consumers want responsive e-commerce sites more than anything else. If they find your site slow, they will quickly move over to a competitor.
But how do you make your site more responsive? It turns out that there are several ways of doing it.
Perhaps the best way is to follow Google’s AMP program. This is a set of tools that adjusts multiple aspects of your site, making it respond faster. You can also do things like increase server bandwidth or change your web host.
Allow Users To Save Their Carts
Users aren’t always able to finish their purchases in a single session. That’s why many e-commerce brands now offer them the ability to save their carts. This feature allows customers to return to their carts if something interrupts them. It is a great strategy for boosting conversions.
In summary, winning in the e-commerce game is tricky. But with the right approach it is possible. The rules of the game are changing, and companies need to keep up.