Recommendations for a Successful E-Commerce Strategy

The online store is all set to go, ready for the launch; however, in an increasingly digital world, competition in this business niche is fierce. Hundreds of online stores are selling the same products, so how can one store stand out from the rest?

It’s all about effective e-commerce strategy for the business. Indeed, starting and growing an online business is an uphill climb without a solid e-commerce strategy in place. A business would want to reach more customers and increase product sales, but this can only be done if the brand is aware of its goals and the steps needed to achieve them.

Benefits of Having an E-Commerce Strategy

Putting an effective e-commerce strategy in place is highly advantageous to a business. It is the number one factor that can make or break a brand’s success and growth. More often than not, business owners get lost in the day-to-day realities of running an e-commerce business that they fail to stick to their goals and plan for the future.

This shortsightedness can affect the direction of the business. With a strategy in place, however, a brand ensures they have long-term goals they can set their sight on, allowing them to develop practical steps, helping them in achieving those ends.

Below are some reasons why a brand needs an e-commerce strategy.

• It gives business owners clarity, focus, and direction. An e-commerce strategy makes it clear where the business is at the present, where it is going, and what is needed to get there. Every decision business owners make can impact the overall success of the business, so a strategy is important to keep the brand grounded. Business owners will be able to align their strategies to their goals. 

• It gives business owners the motivation they need to succeed. The brand’s strategy often involves practical steps that can bring it closer to its goals. It serves not just as a guide but also as a driving force that catapults the brand and the team forward to the realization of the business goals and objectives.

• It gives business owners a better understanding of their business. A brand’s e-commerce strategy allows them to understand their business a little better. It helps shape their vision and what they want to achieve, both on a long-term and short-term basis. Business owners will be able to look at the overall aspects of their e-commerce business, including the financial performance, the strengths and weaknesses, opportunities and threats, and customer satisfaction, among others. They will also take a closer look at their competitors and devise ways to get ahead of the curve. 

It gives business owners better business results. Ultimately, a good e-commerce strategy can lead to better business performance. There will be less time for distractions as the business heads to its goals. It can also help the business develop and update current tactics that need improvement.

Tips to Help Develop a Solid E-Commerce Strategy 

Taking the benefits of a good e-commerce strategy in mind, business owners need to put the ideas into motion—devising some ways to develop the strategy. Here are some of the most valuable tips. 

Determine the Business Goals 

It might be cliché now, but every good business strategy starts with the identification of the  goals. It is the very foundation that defines the e-commerce strategy. Whether the goal is to sell products online without inventory, generate a certain amount of revenue within a particular period, or attract a certain number of followers, getting a good grasp of what a brand wants to achieve can make the next steps easier.

Some of the most common objectives can be the following: 

• Generating leads that can turn into customers.
• Driving traffic to the online store. 
• Cultivating customer loyalty through responsive customer service. 
• Solidifying the online presence. 

It will be helpful if a brand can categorize its goals into long-term and short-term ones. Business owners can also list down the steps needed to accomplish each of them. 

Develop Buyer Personas 

Market and target audience are an integral part of an e-commerce strategy’s success. Business owners need to know the market they are in and the people they are trying to reach out to. One of the best to do this is to create a buyer persona.

A buyer persona gives businesses a great picture of their ideal customers. They are like fictional characters created to guide businesses in tailoring their efforts more effectively. They reflect the e-commerce business’ goals and ideals.

This exercise will also help businesses establish the voice and tone of their online store. Asking the following questions is a great start:

• Who are you trying to sell your products to? 
• In what demographics do they belong?
• What are their fears and motivations? 
• How can your products provide solutions to their pressing problems? 
• Do your products impact their lives? 
• What influences their purchase decisions? 
• What online platforms do they frequent? 

Create an Outstanding Website 

An effective e-commerce website can attract visitors and convert them into paying customers. The website needs to be intuitive, which means that potential shoppers can go from page to page with a seamless experience. The pages must have an intuitive understanding of getting them where they want to go and leading them to their goals.

The website should be able to read potential customers’ behaviors and tailor recommendations that will make it easier to encourage them to take the business’ desired actions. This means using clear visual clues that lead them in the right direction. Some of the most common examples include subtle recommendations of best-selling products or CTAs that prompt customers to download the product guide.

Another feature of a good website is the easy purchase process it offers. As much as possible, business owners have to minimize the steps it needs for customers to check out the products. Otherwise, customers will abandon their cart halfway through their buying journey. 

Moreover, business owners should make sure that their e-commerce website is mobile-friendly so potential customers can easily navigate them on any device. Nowadays, more and more users are surfing the Internet using mobile devices, particularly smartphones.

Start a Marketing Plan 

Marketing efforts can spell the success of an e-commerce strategy. This is where a business owner identifies the platforms the business should use to establish its online presence, boost brand awareness, drive traffic to the shop, and generate quality leads, among others. While there is no one-size-fits-all marketing plan, there is a formula that can be used—try to be where the customers are. 

This means not getting confined to one social platform only. Businesses should be visible on a number of platforms: Facebook, Instagram, Pinterest, and Google search.

• Social Media 

When it comes to social media, business owners need to determine what their organic and paid strategy should look like. Creating a business page on Facebook and Instagram and posting regularly might not cut it in the long run. Business owners might want to consider supplementing their organic marketing efforts with paid advertising. This will depend, however, on their goals. Do they want to drive traffic to the e-commerce site or generate leads? Do they only want to lift brand recall? 

• SEO Strategy 

Businesses would want to be on top of their customer’s minds, and what better way to do just that than by optimizing the search engine ranking? On top of creating content that the customers need, businesses can also run Google ads that can help grow their customers, and eventually the business. 

• Email Marketing

While it may not be a priority for many in the e-commerce industry, building an email list can be beneficial for online businesses down the road. A good email marketing strategy can be used to retarget cold leads or nurture existing customers.

Think of Distribution and Logistics 

While there is always a strong emphasis on the quality of products, it is just as important to have a strategy in delivering goods. This also includes providing a clear returns policy and ensuring fair shipping costs.

Businesses may need to quote shipping rates at the time of checkout to set expectations and minimize costs on their side when the shipping costs actually turn out to be higher than the expected rate. On the logistics side, businesses have to make sure they can handle returns and exchanges quite efficiently. They should also try to reduce delivery time and ensure that it is done in a timely manner, as it can help them disappoint customers.

Wrapping It Up 

In the end, businesses have to remember that a successful e-commerce strategy still depends on various factors, including product quality, customer service, and purchase process. 

Businesses also need to consider keeping up-to-date with evolving technology and marketing trends. This will help them get ahead of the curve and stand out in the competition.