Due to the oversaturated digital market, it has become quite difficult to stand out as an e-commerce business.
As the online market place is growing bigger day by day, competition is increasing in almost every available niche. Being a new e-commerce entrepreneur, it is now very tough to attract more customers as the same products and services are available in various web stores already.
This necessitates the need to implement innovative practices to increase the efficiency of the supply chain network. Also, your unique selling proposition USP should be a solid one that clearly differentiates you from others.
For example, there is not enough room left for improving the shipping times. So you can’t bank on it to be your USP, as timely delivery at the doorstep has already become the industry norm.
Take a look at our list of ways that can help you make your business stand out from the rest.
Innovation in products
Offering innovative and cutting-edge products to your customers is the easiest way to stand out from the e-commerce crowd. As it is very difficult to differentiate yourself from the competition if you are providing the same products to the customers. It will force you to compete on the pricing, which will result in a reduction in profit margins. Ultimately, it will be better for you to close down the business rather than competing.
If you have the resources and budget to invest in the development of unique and innovative products or, make improvements in the existing ones, you can easily capture a large market because of the first mover advantage. You can see how various e-commerce stores, Amazon, Flipkart, and Online leather jacket store, fulfill its customer needs in a unique way by offering numerous customization options.
But, if you don’t have the resources to innovate, you can follow the latest market trends. You can gain benefit from it by being the first to market a product that satisfies the needs of a particular niche.
If you are the only one providing a particular product, you can easily capture a large chunk of the market. Moreover, constantly adapt to the changing trends to stay at the top and relevant in that particular market.
Branding your e-commerce business
Majority of the startups don’t even have the required funds to compete on product, supply chain or pricing with existing established market players. That is where branding comes in as no one can duplicate your voice.
Of course, they can copy your business model, product, services, etc. but branding helps you differentiate yourself from the rest.
Remember, branding is not just another aspect of your advertising strategy, it is much more than that! People recognize you from your branding, it is your reputation in the offline and online world. It helps you to start developing relationships with your target customers. Sharing your values and dedication towards delivering a fantastic experience is what makes a great brand. Your brand includes your logo, photography, color themes, tone of voice, website, marketing, etc.
Still not clear on what branding means? You can always design your brand through an ecommerce website design company. In branding, every small detail matters and seeking the help of professionals is the right way to go about this.
Bringing your target audience to your website is the hardest part. You have to make sure that the user experience at your site to make a purchase is simple and smooth. You can get your online store designed by professionals to make this experience fun and pleasurable for your customers. Since customers easily get frustrated from a website that lacks professionalism, is slow and has confusing descriptions.
With the increasing number of smartphone owners, it is imperative for you to offer a mobile browser view for your website. Go through the purchasing process yourself at your website and find out ways to further improve the user experience. Issues like delays in loading a particular page, products not showing in the shopping cart, payment procedures, etc. should be your top priority.
Social media provides you with the cheapest way to market your products to your target audience. Create pages for your brand on different platforms depending upon your product/services target customers. A recent study finds out that 60% of customers interact directly with the brands they buy from social media. Moreover, about 74% of customers use social media to make their purchasing decisions.
So, if you aren’t active and don’t engage your customers on social media with enticing content, then you might lose your chance to stand out from the competition. Hire top writers, create engaging and helpful content for your customers and quickly answer their queries.
A website’s credibility is gained through the social proof available on it. It has a lot of forms like user-generated content, customer reviews, celebrity/influencer endorsement, etc. The most important social proof for your e-commerce brand is customer reviews. As we all love & trust reviews, most of our purchasing decisions are based entirely on them. Both bad and good reviews, have their own place and help you out in attracting more visitors to your site.
If you are new and don’t have any customer reviews yet, try finding influencers of your target audience and pay them privileges to review your products/services. This is ideal for new startups who are low on budget and can’t afford to hire celebrities to endorse their products and services. YouTube influencers and Instagram bloggers are gaining popularity as more and more brands are hiring them to promote their image.
A charitable cause
You can gain a competitive advantage over others by forming a charitable partnership. This can range from a certain percentage of the sale going into the charity to incorporating eco-friendly practices during your manufacturing process. Nowadays, people prefer to purchase from those brands that are doing something good for the community overall.
To stand out in today’s competitive e-commerce business environment, you have to offer your customers something different than the rest. Highlight your key qualities and offerings to your customers via branding, social media presence and customized user experience. You can consult experts to make your way forward to establish a strong presence in the market. Moreover, continuously innovate and adapt to the latest trends in order to stay relevant in the competitive digital market!
Author Bio: Ashley Rosa is a freelance writer and blogger. As writing is her passion that why she loves to write articles related to the latest trends in technology and sometimes on health-tech as well. She is crazy about chocolates. You can find her at twitter: @ashrosa2.