Markets

Winning strategies for online retailers

To succeed in e-commerce as a retailer requires innovation and strategies that go beyond product offering. Providing a good user-experience with its digital best practices and top-notch customer service are also very essential.
To win and outsmart your competition, the following strategies are recommended to put you on the best path to not only optimize your conversion but also to enable you build enduring relationship with your customers.
Personalisation: The place of personalisation cannot be over emphasized in online retailing as it forms a critical basis for getting close and knowing your virtual customers in the virtual market that you operate. the moment a user visits your shop (website), you must work to personalize their experience.
Once that happens and a user is registered, you can then move closer to having a one-on-one conversation with the shopper by asking him or her to rate products in order to provide more personalized product recommendations in the future. You also need to monitor users’ browsing and purchasing patterns to improve upon its recommended products. You can put an emphasis on personalization by devoting a reasonable chunk of your homepage space to feature personalized, recommended products to your registered members.
Customer service: You must develop a reputation for care of your customers. In fact your organization should regularly evaluate your customers’ experiences in order to see where to improve on your services. Such evaluation will also shed light on the value of satisfied customers as findings have shown that highly satisfied customers are more likely to do business with a company again, more likely to purchase more products and more likely to give the brand a positive recommendation.
These buttresses the point that customer service is a key driver to sustained success, and the retailers who take care of customer issues and complaints in a timely and appropriate manner will see an impact on their bottom line.
Review: of the main reasons consumers search for products online is to look at ratings and reviews from their peers, as the opinions of other consumers are highly considered before making purchases.
Although majority of online retailers offer a ratings and review feature on their sites nowadays, it is not uncommon for this section to be empty or only feature a couple of reviews. So retailers need to take steps to increase the engagement with their reviews, such as offering incentives or sending friendly reminders via email to shoppers who made a recent purchase.
Innovation: Innovation drives technology and it has been a key driver of e-commerce since inception. As a matter of fact, an online retailer who wants to be taken seriously and survive in the business must continuously innovate especially by creating services, offerings, processes and deliveries that are peculiar to the business.
It is imperative that you continuously innovate in order to attract attention to your digital storefront.
 

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