TToday we are in the age of digital Darwinism; survival of the most adaptable to change. Technological advancements are changing the way we communicate, connect, work and discover at an alarming rate.
Companies in a wide variety of industries must innovate and undergo digital transformation in order to remain competitive. Those who don’t will simply fall behind.
This is especially true for the retail world. With smartphones becoming the third branch of millennials and a growing number of consumers shopping online, it is becoming fundamental for retail businesses to have an online store from which their customers can purchase goods and services. .
But the shift from offline retail to e-commerce is by no means an easy journey. Here are four factors all retailers should consider when traveling online.
To build a successful e-commerce business, it’s not enough to just build a website. Today’s consumers demand a buying journey that embodies an experience, not just a transaction. Not only do they want speed and convenience, they also want customization. Shoppers want the convenience and feel of a local offline store, but close at hand.
Personalization strategies to deliver personal experiences to your customers include:
- Product recommendations: Suggest products based on current buyers from the past browsing session, or based on the behavior and interest of similar visitors.
- Guided sale: By including interactive product advisers, product searches, and even quizzes, you can better understand a buyer’s needs. From there, you can suggest relevant products and offers to them. It will also provide you with valuable data and information to further improve your personalization strategy.
- Personalized emails: A good way to provide a personalized experience to your customers is to divide them into different segments based on their past buying behavior and interests. From there, you can send targeted messages based on these factors, including offers and promotions to attract them.
Provide multiple payment options
To be a successful e-commerce business, you need to provide a wide variety of payment options at checkout. This is an essential part of the sales process. When a visitor goes through the entire buying process on your site and finds in the very last step that their preferred payment choice is not supported, it is likely to leave a bad taste in their mouth.
Therefore, your online business should support all major brands of credit and debit cards in order to meet everyone’s needs.
In addition to this, third party payment services should also be made available to enable payments, in particular Pay Pal. Many buyers without a credit card use PayPal as their primary online payment option. So there is really no excuse for not providing this option.
Make sure your online business is discoverable
Today, the online world is saturated with millions of businesses. So, for your brand to stand a chance against your competition, you need to develop a comprehensive marketing strategy.
Social media marketing is a crucial method for the discoverability of your business. At the very least, your business should have a Facebook, Twitter, and Instagram profile in which to promote your business.
On these platforms, you can post product images, information about the latest promotions, company news, run contests to gain visibility and much more.
Additionally, a growing number of consumers are using social media platforms to make decisions before making a purchase – otherwise known as âsocial proofâ.
As such, many companies are harnessing the power of social media influencers, customer reviews, and user-generated content as a key marketing technique.
Today we are a generation obsessed with mobiles. More 125 million US consumers own a smartphone, and over 60% of those owners have made an online purchase through their mobile device in the past 6 months.
Therefore, when setting up an online business, you should also consider whether your website is mobile-friendly. This includes making sure your website is fast, making key information easily accessible, and providing snackable content.
If you don’t start an ecommerce business with mobile in mind, you may end up with no interest in the very near future.