The ecommerce industry is evolving. The events of the last years have altered customers’ shopping habits and contributed to the growth of online retail.
According to recent statistics, consumers spent $861.12 billion online with U.S. merchants in 2020, up 44% year over year.
These statistics illustrate the importance of selling online in 2021 and beyond.
In this article, you will learn the basics of building an impeccable ecommerce strategy.
1. Set Achievable and Clear Ecommerce Goals
Whether you want to attract new customers within a specific period or boost customer loyalty, you need to determine clear ecommerce goals. Only that way will you set priorities and make data-driven decisions. Above all, you will easier choose the right metrics to track and judge the performance of your online retail store.
For example, if you are just starting out, your goals may be “Attracting X qualified customers to your store each quarter” or “Taking action to build a loyal fan base.”
2. Create Data-Driven Buyer Personas
To build a successful ecommerce business, you first need to get to know your target audience. Start by collecting customer data via surveys, competitor analysis, questionnaires, social networks, etc. The goal is to identify customer groups interested in your products and create buyer personas.
Buyer personas are fictional representations of your perfect customer. They include a wide range of demographic and psychographic data, including customer age, gender, geolocation, income, family status, education, employment, product interests, hobbies, preferences, etc.
By creating buyer personas, you will tailor your branding, tone of voice, and marketing campaigns to customers’ specific needs. It saves you time and money and, most importantly, helps you generate sales and drive customer loyalty.
3. Establish your Unique Selling Proposition
Digital customers are highly tech-savvy and resourceful. They perform detailed research before making purchasing decisions. Namely, they tend to visit your competitors’ sites, compare pricing, read customer reviews, and so forth.
Precisely because of that, you need to grab their attention and set yourself apart from the fierce competition. For starters, build your brand’s unique selling proposition.
A value proposition should communicate your brand’s quality, values, and missions. It answers a simple question – why a customer should purchase from you rather than your competitors.
It explains how you solve customers’ pain points and deliver value. Above all, it shows how you differ from similar brands in the industry. For example, it could refer to specific benefits, such as product sustainability, authenticity, fast shipping, cost-effectiveness, simplicity, etc.
Make sure you align your brand’s unique selling proposition with your buyer personas. Address their pain points, frustrations, demands, and requirements.
4. Write Product Descriptions that Convert
Once a website visitor lands on your website, chances are they will hit your product page to see what you have to offer. When purchasing online, customers cannot touch, feel, or hold your products. They are limited to your product descriptions.
Instead of generic product descriptions, create helpful and informative content. Provide users with as much information as possible. Descriptions should highlight the benefits and features of your products. Above all, they should be easy to follow and understand.
Apart from text, rely on visuals, too. Hire a professional photographer and upload product photos from different viewpoints. Alternatively, you can even use VR tools and 360-degree photos to engage users and build trust with them. That way, a customer can better visualize the product.
Let’s take the example of CPR Savers. For all Prestan CPR manikins they sell on, they provide detailed descriptions, customer reviews, photos, and video guides.
5. Optimize the Checkout Process
Once a customer does research and adds an item to the shopping cart, they expect your ecommerce brand to provide a seamless checkout process. Otherwise, they are more likely to abandon your website and buy from your competitors.
Now, you can optimize the checkout process in multiple ways, such as:
- Offering a money-back guarantee
- Adding a transparent return policy
- Offering various payment methods
- Providing different delivery options
- Delivering easily accessible customer service across multiple channels
- Inserting customer reviews and testimonials
- Investing in top-notch ecommerce security to gain customers’ trust and prevent data breaches
Having a Detailed Ecommerce Strategy is Crucial
When launching an ecommerce business, you need to have a data-driven strategy to support you. While this is not the ultimate guide to starting an online retail business, it may serve as your solid starting point. I hope it helps!
How do you build ecommerce strategies? Please, share your thoughts with us!
