E-commerce has set the bar in the buying and selling of goods in today’s trade situation. Many small and big businesses shifted to the e-commerce market as a platform to still cater despite that COVID-19 pandemic. With more and more businesses making an online presence and identity, the tougher and relentless the competition turns out to be.
Herhold (2019) revealed that Facebook is hailed as the most popular social commerce platform that businesses use to advertise, this is followed by YouTube, Instagram, and Twitter respectively. In addition, most of them turn to Google search advertising and event advertising to market their products and services. She also mentioned that small businesses managed by millennials are geared towards advertising on more mediums than older generations which is not a surprise since these millennials are the same people majorly being catered by the e-commerce market. Statista (2020) shed light on the fact that younger people tend to shop online more than the older generation. Thirty-eight percent of online shoppers in the United States are below the age of 35 and just 14.4% are 65 years or older. The biggest chunk of the percentage is taken by millennials aged 25 to 34. Although the results have variance, it is quite easy to assume that people of all ages are putting online commerce to use. The market is really online.
Trends in businesses are also emerging and leaning towards substantiality and eco-consciousness, think of the emergence of net-zero businesses which only highlighted the importance of transformational change. Indeed, business owners must continuously improve their brand, products, services and focus on strategizing to keep up with the competition in these ever-changing times. Here are a few ways:
1. Orchestrate the urgency.
But before that, ensure that your product is really something people would go crazy for or at least trendy. In your promotional materials, set a deadline or tell that you only have a few stocks — this is how to create urgency. Impulsive buyers and those double-hearted will definitely make a haphazard purchase decision. Use the right words, striking colors, and the correct timing when releasing your promotional materials. The principle rule is that response is needed for everything that is urgent.
2. Capitalize on your ratings.
Review and ratings do not only have the convincing powers to influence consumer decisions, it can also form and intensify your online reputation and credibility. This is your roadway to gain consumer trust and encourage more sales. Encourage positive feedback and reviews among your clients by asking for it personally. If you know your company did well, request a review. If they provided, post it to vouch for your satisfactory services. If you are half-hearted, do not offer them to do a review. These small things are critical as they can either drive more people to your store or put the entire business down the pipe.
3. Revisit your strategies.
With the growing number of e-consumers, and more people having access to the internet, it is impossible for you not to have even a few customers. You might have miscalculated a few things. Check the products or services you are offering, is it something consumers really need or want? Are you offering it at a lower or competitive price? Does everyone know you sell them? Have you been warmly responsive to potential buyers? There are many factors to consider and each one is important. Online selling is not similar to stand selling where you just put out your supplies on a table and people come to you. It takes a lot of effort to find customers, making your products known, and responding to each one of them affirmatively and kindly. One misstep can make them jump from your store to another.
4. Invest in advertising.
Paid ads on Facebook or Google are proven successful but they can also go wrong in many ways like when a poster is crowded with so much text, has a generic slogan, or simply has unmatching colors. The key to this success is to seek assistance from a graphic design artist and research trends that you can incorporate in the totality of your campaign so you can reap the benefits of your advertising efforts. If you must, you can also do your own little market research and get to know your future customers, find out their needs and wants to ensure you address them.
5. Give freebies.
In Oberlo (2020), the number one reason why people shop online is free delivery. Find a trustworthy logistics partner that does efficient business shipping and do it if you can cover it. Most businesses markup the product price to ship for free, that is a classic trick. Although your customers can also be twice as happy if you’d help them find shipping discounts or assist them with it. Other than shipping, you can also put in a cute gift that you can give for free: a keychain or pen, anything that is useful that can make them assume the value for their money.
To be an effective entrepreneur, you should be able to determine your target market, solidify your goals and ensure your business speaks nothing but quality. Take pride in the delivery of online customer service, encourage purchases, address concerns and strive to optimize the experience for both shopping and window shopping customers. Not everyone can be a buyer, but everyone can be the judge.
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Bash Sarmiento
About the Author:
Bash Sarmiento is a writer and an educator from Manila. He writes laconic pieces in the education, lifestyle, and health realms. His academic background and extensive experience in teaching, textbook evaluation, business management, and traveling are translated into his works.
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