COVID-19 has had an adverse effect on various businesses and industries. However, industries are now adopting ways to cope up and get back on track. One such industry that has shown immense development post the covid-19 lockdown is e-commerce. Many small and big businesses have entered into this industry by introducing their direct-to-consumer (D2C) e-commerce sites. But starting an e-commerce site brings new expenses. So how can businesses sustain and make the most out of the e-commerce revolution? Joining hands with a reliable digital marketing agency in Mumbai, Delhi, Bangalore or anywhere else where the digital industry has flourished can help. These digital marketing agencies can help businesses enhance their online presence and incorporate strategies to boost the business. Here are a few tips that you must keep in mind to make your online business flourish:
Pay Close Attention to Customer Behavior on your Website- Analyze search patterns on your website as they can provide you invaluable insights. Understand the kind of products or services your customers are looking for on your website. This might help you optimize and organize the placement of your product and services on your website so that customers find the product/service they desire without much hassle.
Offer Alternatives for Out of Stock Product- Supply chain management has become increasingly challenging during this time. The demand for a few products has outstripped the supply. Meeting your customer’s demand for such products can be difficult. But this problem can be solved if you offer an equally good alternative to the original product. If your alternative has identical specifications and is cost-effective, then are there are chances of your customers buying it. Proactively offering solid alternatives for out-of-stock products on your website can also help you win more customers and get ahead of the competition.
Introduce an “Items in Stock” Filter on your Website- Amidst high demand and low supply of products, an “items in stock” filter can be a useful addition to your website. Needless to say, if the customers or viewers are able to get their hands on the available products easily, chances of them making a purchase for those products increases. This could also help you increase your conversion rate. Another benefit of adding such a filter is that you can sell those less popular products which were overshadowed when popular items were in stock. Along with an “items in stock” filter you can also add various other filters like “expected to arrive by” or “products that can be pre-booked”, etc.
Add a “Back in Stock” Call to Action- With a global shortage of supply, you might not be the only retailer that is struggling to get stocks of popular products. But you can gain an edge over your competition if you inform your customers before them when the product is back in stock. Adding an “email/message me when back in stock” call to action can help you with this. This step can help you retain valuable customers and even gain more.
You can improvise this further by personalizing these emails. Personalized “back-in-stock” emails not only give your customers the good news but also give them additional reasons to visit your website and potentially increase sales.
Remarket your popular products- Since the pandemic has started, people are spending a majority of their time online. So it is imperative to reach your audiences where they are most likely to spend their time. There might be some products on your website that are more popular than other products. If the product garners considerable traffic when out of stock, you can create a retargeting list of visitors who showed an interest in the product. You can remarket your product to these customers through mediums like social media or online advertisements. This could be a great way to reach and attract customers that aren't particularly responsive to emails.
A Justifiable Increase in Prices- Increasing prices during high demand and low supply is a basic principle of commerce. You will also have to ensure a secure environment for your staff and take into consideration other factors that push the production cost up. Therefore increasing prices to maintain the margin is the right choice once your products and brand have established their identity. However, there is a difference between a justifiable increase and exploiting your customers. Increasing prices at the cost of losing your customers is not advisable. You must increase the prices fairly so that you can protect your business and also get good customer retention.
Discover Creative Ways to Connect with Audiences- Finding creative ways to connect with your audience is important especially on a platform like social media. Strategies such as Ask us Anything sessions, live conversations, and replying to comments can give you spectacular customer engagement. Implementing these and many more such creative strategies will help your customers cut through the rest and choose the best, you.
The mentality of buyers has changed post-pandemic. A person now thinks twice before purchasing anything that is not essential to his life as opposed to earlier times. To cater to such new customers, it is important to understand their needs. These ideas will surely help you collect valuable user data and devise strategies that will increase your sales. Always remember that the businesses that stay relevant, are the ones that stand the test of time.
