Why Now is the Best Time to Grow Your Online Store
And how to get ahead of the competition!
And how to get ahead of the competition!
For the past 6 months the COVID-19 pandemic has driven businesses to change the way they operate. Regular brick and mortar stores have shifted online, jumping on the e-commerce bandwagon to survive the pandemic. Not a bad move considering traditional retail sales have declined while online sales have more than doubled this year so far.
In fact total online spending in May 2020 alone hit $82.5 billion, up 77% year-on-year.
So why go online now? And has this ship sailed?
We don’t think so – here’s why and how you can still get ahead.
Consumers have shifted their buying habits, turning to online shopping – even the boomers – because of restrictions brought on by the pandemic. COVID-19 has indeed played a pivotal role in the accelerated growth of ecommerce, possibly by up to 4-6 years.
Companies that have explored e-commerce before the pandemic are now experiencing expansion and booming sales. It is projected that around $4.2 trillion sales can be expected from e-commerce by the end of 2020.
‘Going online’ impacts every single part of your business model. It’s a massive operation for starters – not quite as simple as throwing up an ecommerce shop and having your products on it.
There will still be plenty of businesses playing catch-up so the sooner you jump in, the better the opportunity to….
With a range of online stores, it’s easy to see what’s working and what’s not.
This enables you to use these best practices right from the get-go to ensure you’re staying ahead of the competition.
Don’t sacrifice customer experience just because you’re doing it online. As always, consumers prefer to have that personalised experience whenever possible.
Keep it efficient – keep it automated – AND keep it human.
You can achieve this by showing content, product recommendations and special offers based on your customer’s browsing behaviour, previous actions, enriched personal data or based on their preferences.
Adding that human touch to your business helps overcome competition.
Data is key to getting this done.
You can use social media and search engine trackers to help you extract a ton of data to help you better understand your customers.
It may be daunting at first but think about it as formulating a story about your customers that informs their purchase decision.
Social commerce is different from social media marketing because, with this, you are directly selling the product on social media platforms. You are no longer directing people to your online shop, but you are giving them an immediate ability to check out the item.
Businesses are utilising both macro and micro-influencers to help them market their products and drive social commerce to increase sales. This stops customers from shopping around, or second guessing their purchases if the option is there for an instant checkout!
This type of influencer marketing has been around since the start of the social media era, but it’s ramping up even more now and we can expect this to continue beyond 2020.
The most common problem of consumers when buying online is that they might get something different from what they see online. When a customer hesitates, your item may be added to the cart, but it never is checked out.
A high-resolution image is just the starting point. The consumer prefers more pictures, some even 360-degree image viewing to see all angles of the product.
With a solid base line foundation in place for your store, the next step is to stay ahead of the curve by going above and beyond your customers’ expectations to give them that stellar shopping experience.
Here’s how…
Sadly too many business owners get overwhelmed and even distracted with the technology that needs to be incorporated into the website. Most order one with all the bells and whistles without considering the customer experience.
Majority of your customers will browse your online store using their mobile rather than using their desktop. Keep your online store organised, clean and easy to navigate across all devices.
Utilise best practices for online stores
Have a streamlined process for your product catalogue. If it’s overly complex it’s going to be a minefield to manage and even more difficult for customers to find – they won’t! They will simply go elsewhere.
Utilise SEO optimisation for your products regardless if it is in demand or not, to target your ideal customers. This includes:
Encourage customers to sign up for a new profile – offer an incentive to do so – to build your contacts. But also enable checking out as a guest should they prefer.
Provide customer service to your online customers:
No one wants to leave any information on an unsecured website.
Give your customers peace of mind by keeping your website hosted by trusted platforms. Ensure that the checkout process is 100% secure.
Online stores are not ‘set-and-forget’.
Going online to keep growing your business requires adapting to the operational changes going forward.
Managing all of this can be overwhelming if you haven’t got a team to support you. Or worse you’re trying to project manage several freelancers doing separate tasks for you AND run the rest of your business at the same time!
That’s what we’re here for.
Let’s have a chat to see what you need.
We have a team of specialists who can help you launch and grow your online store.