So far, 2020 has been overwhelming on the world’s economy. The global pandemic has sent thousands of businesses home, shutdown storefronts and forced loyal consumers to take flight and find shelter at their homes. The world is clearly shifting its attention towards ecommerce as it is slowly emerging as the most crucial and essential economy for societies worldwide. Although investors are reluctant due to the unprecedented nature of business challenges, the ecommerce industry looks promising and budding entrepreneurs and small businesses are looking for opportunities to tap into.
Against the backdrop of the current scenario, here are some insights from ecommerce experts on key things to consider when starting their ecommerce business in 2020. .
App is the Way Forward
With enhanced internet in your pocket, the first thing anybody checks is their mobile phone. In the era of smartphones and tablets, it is imperative for any company to cash in on this prospect. They help you cut across the tech savvy population, who check out the products at any time of the day, which generates good leads and prospective checkouts. The expectations these days are sky high, and startups must go that extra mile that every customer remembers and probably might recommend it to a friend or a family member. Give a personal touch to the buyer that connects with him on an individual level to persuade him into trying the product.
Campaigns that Connect
Products can be marketed conventionally, but it doesn’t make your brand stand out. Brands need to up their ante by producing campaigns that connect with the consumers in the given setting and market conditions. A few Indian retailers are going for the hashtag driven campaigns to attract attention amidst all the chaos. If your idea has a voice, get a microphone that can broadcast it globally and that too effectively.
Structured Social Media Approach
No doubt that social media presence is a double edged sword, but your social media handles should not just sing songs of praise about your start-up. Not only will this make you sound pompous, but also indifferent to the conditions prevalent in the market. It goes without saying that you must have an active social media team that is connected to all other logistical and functional departments of your company, to respond and make your customers feel better and important. The customer is the gateway to our opportunity and it is our duty to catch his attention and improve the offerings.
The biggest Fortune 500 companies that are in existence today have retained their position only on customer centric strategies. If any strategy deviates from this, it is a volcano that is waiting to erupt. A customer friendly strategy to boost sales is not something unheard of. The think-tank must come together as one to achieve this and get a heads up on where the company currently stands. After all, the products you make will have to reach your customer and not the other way round.
Before you jump into an entrepreneurial decision, here are 8questions to ask before launching an ecommerce store.
Originally published May 09, 2016 14:41:00 PM, updated Jun 03 2020