How to March Alongside the Evolving B2C E-commerce
The retail business has seen exponential growth in the last few decades, and it doesn’t seem to be stopping anytime soon. The global pandemic has also played an undeniably crucial role in giving the retail business a solid nudge towards the sky.
We are sure to witness the impetus of this nudge in the post pandemic era. And the online retail sector is estimated to exceed the $740 billion mark by 2023.
Considering the rapid growth in the worldwide digital presence, it is now more crucial than ever to take your business online in order to attract new customers and retain the existing ones.
Nowadays, the customers are only a tap away to fulfil their demand for products and services,
with an expectation to receive quality deliverables along with fast and convenient delivery.
To match the customers’ expectations, maintain and flourish their business, the retailers need to change and become more adaptable, flexible and understanding to meet the demands of their customers.
Considering the competition in the retail business where almost everyone is fighting tooth and nail to grow the B2C E-commerce Sales, just delivering the product and providing on-time service is not enough. You need to cater for the deliverables with an improved and holistic experience.
In order to drive true potential from their Investments, the retailers and the sellers must be adapted to new changes actions and strategy, sounds a bit overwhelming right?
No worries, with the right strategy that suits your business, you can not only stay afloat in the market but would be able to grow your B2C E-commerce Sales.
This blog will look at the top 5 tips to improve and grow your business alongside the evolving B2C e-commerce based on the fundamental pillars of being adaptive, flexible and being considerate. Ready? Here we go:
Pillar no 1: Be Adaptive
1: Opting for Multiple sales channel
The retail landscape is changing day and night at extensive lengths. People are looking at different modes in order to meet their requirements. So sticking to only one source of the sales channel is not enough in the current era. Retailers need to embrace more than one sales channel to increase their reach among their target audience.
Having a solid and consistent presence across multiple sales channels and platforms increases your chances of retaining your customers and gathering the attention of new ones.
In addition, having a multi-channel presence shows that you can go to length in order to provide your service or product to the customers. Basically, by doing so, you are giving your customers freedom of choice.
Do you know that 73% of consumers prefer omnichannel shopping experience over shopping from a single channel. And you are most likely to offend 75% of consumers if your brand offer inconsistent shopping experiences over different platforms.
How can I do that?
You need to have a website along with a mobile app. Then, you can use different social media platforms like Facebook and Instagram in order to sell your products or services.
Once you have gathered enough data, you can put that into analysis and prepare your strategy to be used on your customer’s behaviour in order to increase a conversion rate and cater to a higher customer experience.
Gather the data, map an easy path to purchase, curate, and effectively adapt your marketing process/strategy.
Today many advanced e-commerce platforms allow you to leverage data analysis features without a 3rd party app. And you can easily utilize this data to grow your sales and monthly revenue.
2. Contactless payment method
The COVID-19 pandemic has brought our attention to social distancing, which means that it is a very good opportunity for retailers to make their transaction completely cashless and avoid any contact with the consumer.
Contactless or cashless payment methods have numerous benefits, to name a few:
- They are fast and much more convenient than cash transactions; however, this may vary from business to business.
- Contactless transactions make it easy for some customers to keep track of their expenses, effectively, and the same goes for you!
- There are numerous contactless payment options like Google pay, Apple pay extra available in the market; this gives customers freedom of choice.
You must start incorporating contactless payment solutions for cash-on-delivery payments as well. The customers should have the facility to make debit card transactions, UPI payments, or one-click mobile payment options while making payments post delivery.
These contactless payment also makes it easier for you to keep track of the transaction and your stock status.
Contactless payments can appear by a credit card or online transfer, with tree seeds generated electronically or in print. By giving them a receipt of their purchase, you provide them valuable service along with proof of their transaction, which increases transparency and loyalty.
Pillar no 2: Be Flexible
3. Grow Your Social Media Circle
Nearly one-third of the world’s population is using social media regularly. With each passing hour, the number is increasing. By the time you finish this blog, thousands of people have liked a comment, sent a tweet or made an online purchase from social media platforms all across the globe; it sounds crazy, right! So let’s look at some of the top online marketing channels:
Facebook, to date, has been an undefeatable champion in being the world’s number one social media platform. The website has about a whopping 2.5 billion (and increasing) monthly users.
Creating a website and hoping that it would magically bring new customers is not going to work out. Instead, you need to take your presence to another level and jump onto Facebook to reach potential customers. Facebook provides both free and paid opportunities to target your audience.
Moreover, you can sell directly through the Facebook Shopping Pages.
Instagram is the trendy social media platform among the young generation of millennials, some would say. So if your target audience belongs to a younger demographic, Instagram is the platform for you.
Being a highly visual platform, it is the best fit for businesses in the fashion, beauty and fitness industry.
How to begin with that? No matter what the size of your business is, you can reach out to your audience using this platform. Pick the right Instagram influencer is one of the easiest ways to reach out to your customers, as influencers can boost your brand awareness and drive conversion into your business.
Instagram Shoppable Posts: Thousands of brands are already selling products directly through Instagram Shoppable Posts. And it might be the right time to start leveraging this trend before it is conquered by huge competition.
YouTube is the king of videos. People primarily used to search or upload funny videos or learn DIY tips. But little did you know that you can advertise your business using YouTube YouTube to generate millions of revenues for different brands all across the globe.
All you have to do is upload a carefully curated instructional or tutorial video of your business and utilise visitors’ interaction to tailor an effective marketing strategy as you move along.
LinkedIn is so much more than just connecting with professionals. It is an effective social media marketing platform that enables businesses to reach a broad audience.
Since LinkedIn is a professional networking platform, people here are looking for high quality curated content. By putting your cards right, you can very quickly grow your B2B and B2C E-Commerce business on LinkedIn
Pinterest is another highly visually pleasing platform that allows users to add text within their images and videos. If you are into the fashion industry, this platform is made just for you.
4. Streamline your inventory
Considering the ever-growing market and fluctuation in future trends, it is more crucial than ever to streamline your demand and supply management process.
Just imagine you are able to get 500 customers to your store for your black t-shirt but what if you only have 250 of those? Panicky right! Well, not holding control over your inventory and stock could force you to lose potential customers and peace of mind too!
Not correctly monitoring the inventory and a gap in supply & demand management will put a strain on your wallet, affect your business’s reputation, and put a crack in customer relationships.
Let’s be honest nobody would like to put an “Out of stock” notification as it gives our competitors a great chance to reap benefits out of it. Today, many customers would prefer to go to your competitor as soon as they see that you are out of stock on your E-Commerce site or offline business.
That being said, it is essential to ensure that you have the necessary stock and the capacity to fulfil your orders so that you don’t lose your potential customers and let them down.
You must employ advanced eCommerce software that allows you to establish a balance between the supply and demand management chain.
How to begin with that? There are many feature-rich e-commerce software available in the market that gives you the freedom and convenience to keep track of your stock inventory to ensure you are well prepared in advance.
Pillar no 3: Be Considerate
5: Leverage the content
We all know that content is king, leveraging the strength of the content to increase your retail business’s brand awareness is one of the most effective ways to grow your B2C E-Commerce sales! Who would have thought that!
Nowadays, people have become a voracious consumer of content. With the right strategy and the set of keywords, you can easily leverage the effects and benefits of content, which has been proven to contribute to E-Commerce business growth.
Even though its benefits being out and open, many retailers still ignore the true potential of content strategy because it requires analysis, takes time and needs a proper process. However, by consistency and tailoring an effective content strategy, you can engage your customers in a better manner.
How? Write the content which conveys information about your brand, product service and the industry itself. Blogs are an effective way to drive traffic to your website, ultimately resulting in quality conversations.
The content could go either on your website or your social media platforms like Facebook London or Twitter (psssst! don’t forget the #hashtags).
Once you have narrowed down what you are going to put on the platforms, you need to decide the frequency of the same, writing and posting content in the form of a blog, tweets, posts or newsletter that could massively contribute towards your brand awareness status.
In short, the more engaging and helpful content you publish along with maintaining a consistent publishing frequency, the more visible your particular e-commerce business will be and the more customers you can attract with that.
6: Keep your customers updated.
The retail landscape has witnessed a rapid tectonic shift. The Covid-19 Pandemic has resulted in many businesses temporarily shutting their services and being forced to wait until the situation gets better. These scenarios make it even more important to keep your customers informed of your whereabouts. Thus the retailers should keep it on priority to keep their customers informed.
Because a well-informed customer could become a valued customer, You can opt for different ways to inform your customer. It can be a part of your customer loyalty program for a way to gain new customers; you need to inform them how your business is adapting to the new changes and what is the next step regarding it.
Since numerous platforms online and offline are available to reach the masses, you need to make sure that you contact your customers effectively and most conveniently.
How to do that? Many small and big businesses have opted for weekly monthly newsletters, which are sent automatically to the customers. That way, you can convey the essential aspects of your business like a product added to the site or you temporarily closing your business down.
Numerous platforms are available to establish an automatic customer loyalty and notification system that will keep your target audience and customers informed about the latest aspects of your business. This could be a significant contributor to increasing your brand value as people are more informed about you and feel connected.
Do not forget a well-informed customer could become a valued customer.
E-commerce business sector is evolving at a great pace, and the growth is also summoning some major changes in the consumer shopping trends. Today, you are selling to consumers who are quite familiar with the e-commerce industry and believe in research-based shopping.
With that said, you cannot afford to ignore the latest trends in the e-commerce industry. And it is more crucial than ever to march alongside the evolving B2C e-commerce trends.
Further, if you wish to consult more on the ways to convert your e-commerce strategies into real-time revenue figures, talk with our e-commerce experts today.