Best practices for long term growth in eCommerce business

Best practices for long term growth in eCommerce business

The mind boggles at the spectacular world we live in. The pace of development in technology is at an astonishing rate. Who would believe that online shopping would be a thing 50 years ago? Today, the e-commerce business is one of the most advanced and successful business the field of business has ever seen. If your business sells tangible products, you need to have a strong online presence. No matter how strong your business is there are always areas to improve in your e-commerce business to ensure long term growth. But with so much competition in the e-commerce space, it can be tough for you to establish your ground. Not only you are competing with local and regional brands, but you also have to deal with international giants. So, here are a few effective practices that will help you lead a healthy business in the long run.

  1. Multi-channel strategy
  2. The multi-channel strategy helps to blend different promotional channels, positioning to reach, connect and build a strong connection with your customers. A strong relationship between you and the customer matters a lot as it has positive effects on your sales. It’s no secret that e-commerce competition is killing most businesses today. Sadly, it gets confusing when brands are unable to determine the channel to use for customer service. Gone are the days when you could limit customers to a single communication channel for customer service. Developing a multi-channel strategy means you’ll be where your customers are. Customer service plays a vital role in business development. So, provide the end-to-end customer support on every platform available like Facebook, WhatsApp, E-mail, and Telephone. Provide the quality service that the customers expect.

  3. Marketing
  4. Marketing has become a major essential for your business to breathe. With cut-throat competition, an e-commerce site fails to be alive if not marketed properly. Marketing helps you get an edge over other e-commerce websites by making you stand out of the rest. Provide adequate time to market your e-commerce site for long term growth. Social media has empowered many individuals to build their personal brand and curate a huge following. These people are known as influencers. Influencer marketing is simply the process of building relationships with these influencers to get your products in front of their audience. These influencers are trusted by their following to make good recommendations, and if you do this correctly then you can drive huge amounts of traffic, social proof and sales to your e-commerce website. Instagram is a social media website where you can find many influencers who might help you promote your website and products.

  5. Pricing
  6. As shoppers have become more accustomed to the wide array of options for purchasing the same product at different prices, it’s no longer your item details and fancy imagery that will capture their attention. Pricing the products smartly to attract customers is necessary. Too high, there’s a small crowd to buy, too low, the product may seem of inferior quality. An algorithmic pricing mechanism is a must for competing in a marketplace. Develop a strategy where the price drops as the demand drops and vice-versa. If low sales are recorded for a said product in a week, let the price for that particular product drop till the sales are low. As the sales increase, increase the price at a moderate rate that isn’t too high or else you might lose valuable customers.

  7. Carrier Strategy
  8. Delivering the product to your customers with the packaging in-tact is equally important. In today’s marketplace, consumers don’t just expect fast and reliable fulfilment, they demand it. If you want to stay ahead of these demands, having constant access to the most competitive carrier pricing and delivery is crucial. It’s imperative to have a full package of options at your fingertips, so you can go with the fastest and most affordable mode for each order. It is important to opt for the cheapest yet reliable logistics service. Delhivery, Aramex, DHL, FedEx, and DTDC are some trusted logistics companies that offer delivery service at decent prices. These logistics have a brand name for their reliability and trust among the consumers out in the marketplace.

  9. Building customer trust through prompt feedback:
  10. Use your marketing channels effectively to gather feedback and create a buzz about your product and brand. Also, gaining the customer feedback is a must. You must have a team monitoring all customer responses across every channel and all concerns must be replied to and addressed so that the customer feels his importance in the brand. All comments and feedback should be taken seriously and responded to at the quickest so as to maintain a healthy and positive relationship with the customers and gain their loyalty towards your brand.

  11. Loyalty programs or plans
  12. As an ecommerce platform you must reward your customers for their loyalty by giving them points or credits to utilise in their online shopping or giving them some benefits to enhance their shopping experience. The loyalty program could offer varied options in keeping the customer base satisfied and returning to your ecommerce platform. You could offer exclusive discounts or offers to loyal customers or also give them options like free delivery or faster delivery for their continued loyalty towards your brand. Such practices help your business boom and grow.

Conclusion:

Every business firm faces problems from time to time. It takes smart moves and decisions to overcome these problems. They can be avoided by following these simple steps to ensure the smooth flow of your e-commerce business in the long run. These are some of the tried and tested practices that will guarantee your growth and success in the eCommerce industry.

Tenjump provides all such services to help your brand grow and make your eCommerce presence stronger than ever. Tenjump guides you not just in commencing your eCommerce platform, but also giving you tips to help your online market boom and grow. Such practices and many more come from Tenjump as recommendations and services to your eCommerce business. So avail the amazing benefits of TENJUMP today and make your eCommerce platform stronger and more successful!

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