Top E-commerce Strategies to Beat Your Competitors

Having an effective E-commerce website requires a well-planned B2B E-commerce strategy.

The landscape of B2B markets is changing every day and so bridging the gap between the marketplace is what makes an E-commerce site stand out.

Therefore, as a good E-commerce company, finding out the ideal purchasing experience customers are looking for is very important. It has to be linked to ongoing improvements in your E-commerce site to lead it with more sales.

10 ways in which you can make your B2B E-commerce website stand out

Inducing key improvements in your E-commerce website is the key to stay in the competition.

Build a Mobile Responsive Website

A recent survey by Google predicted a number of aspects of the B2B industry. More than 53.67% of the B2B E-commerce market is mobile responsive.

Amongst them, 90% of customers who have an impressive mobile experience with an E-commerce site are likely to purchase from the same vendor. This means a poor mobile responsive site will make you lose the sales and lead in the market.

Providing an optimized mobile experience is very critical for a B2B business. It also improves a website’s ranking on Google’s search engine as its algorithm uses mobile friendliness also as a ranking method.

Improving page loading time, legible text and images, small screen friendly content and delivery mobile-specific features are some ways to make an E-commerce site more mobile friendly.

An E-commerce Site Video

A video content is a great form of marketing for any B2B vendor. It aids in increasing conversions and sales, trustworthy customers, improved search engine ranking, more users and engaging visitors.

If you are targeting an Indian market, videos are a great way to sell your product. 68% of users in India prefer vendors who consider video format as a means of B2B E-commerce marketing.

The Importance Of Product Ratings And Reviews

Adding product reviews and recommendations is a great B2B E-commerce marketing and branding strategies. It eases a site’s conversion ratio by 270% increasing your customer pool by 73%.

Customer ratings and reviews build trust and rapport for an E-commerce site. This social proof is trusted as personal recommendations and so it boosts the conversion ratio of a site.

Having a Mobile App

It is one of the best E-commerce development strategies where customers track and purchase products from a mobile app. It reduces friction and improves conversion ratios by streamlining of the purchasing experience.

For vendors who want to make a name in the B2B E-commerce world, the mobile app is the best way to do so. While designing a mobile app, lever the push notifications by including a CRM component and release products with the fast and amazing user experience.

Customer Friendly E-commerce Functions

Engaging customer experience is a key B2B online strategy. There are certain website features that improve the customer experience and even multiply the sales and revenue generated by a B2B vendor.

One such feature is saving items in your cart so that a user can switch over and pick up from where they left. Adding multiple products in the cart at the same time streamline the purchasing process increasing the average order value.

An effective E-commerce vendor should focus on increasing the customer lifetime value aiding in their purchasing experience.

Indulge in Niche Products Rather than Mass Marketing

Products labeled as exclusive and private are more likely to garner the attention of the customers. If an E-commerce vendor wants to stay in the market, either sell niche products or mass products at a competitive price.

Keep On Updating Your Website

Improvisations are also one of the key aspects of any E-commerce development company. Updating your product lists, adding new items every now and checking what part of your site does a customer enjoy the most are some ways of retaining your loyal customer base.

Therefore, check for the ongoing trends in the market and make your website available to them.

Reward Your Loyal Customers

There are a number of online market spaces available for customers to choose from. While you are focusing on turning visitors into customers, do not ignore the existing customer base you have.

Rewarding of a site’s loyal base enhances their trust and makes them skip the idea of searching for any other online store. Customers feel important and required when a site rewards them.

Coupons, extra discounts, and great services are some ways to keep an E-commerce site’s customers with them only. Because around 18% of an E-commerce website’s profit is by the loyal customer base.

Competitive Pricing is Important

What type of purchasing experience is a user looking for that your competitors aren’t able to provide? Search the answer to this question.

Competitive pricing and first purchase discounts are some ways a website can earn initial attention it needs to get their business on track. So, if your competitors are providing the same product at a better price, you are losing a big chunk of customer pool.

Research thoroughly before you tags a product with a price.

Cordial Supplier Relationship

If you are into B2B marketing afterword, maintaining and control supplier relationship is very important.

Keeping a track of the inventory and setting a team for communicating with several different suppliers is what will make your E-commerce market step ahead in the competition. The best way to manage it is by connecting electronically with your suppliers.

Fulfilling Orders With Cloud-Based E-commerce Platform

Also, having is a speedy delivery is very important for any B2B vendor. The easiest way to do is to process modern and cloud-based E-commerce platform for order processing and tracking inventory.

For this reason, E-commerce companies prefer using cloud online management systems to sync all the data across their channels as it is a fully automated system for handling warehouse shipping and delivery.

Benefits and Importance of Digital Marketing

In the last one decade or so the world has shown a paradigm shift from analog to digital. More and more people are consuming all kinds of information online hence making digital marketing the best way to reach out to your targeted customers. We ask why Digital Marketing is so important.  The importance of digital marketing works not only in favor of marketers, it provides something innovative to the consumers too. Let us have a look and understand the importance of digital marketing.

1. Opens up growth options for small businesses

Importance of digital marketing for business lies in the option to select your method of marketing as per your budget and reach a wider audience at a lesser cost. Even a decade back getting your product marketed especially for a small business was a task in itself. Most of the expensive models were just out of their reach and they had to resort to small level methods where the guarantee of success was close to negligible.

The digital modes of marketing are customizable and hence much cheaper. If you are trying to make a foray into an already established market you can still make your presence felt by targeting a small base of customers.

2. The conversion rate is Higher

The businesses that are using online as the preferred mode of marketing are able to measure the conversion rate through real-time using a simple method. That is identifying the percentage of viewers who get converted into leads and then subscribers and in the end finally purchasing the service or product. SEO, Social media marketing and Email marketing are methods which have a high conversion rate as they are able to generate a quick and effective communication channel with the consumer.

Surprisingly all the traffic that you may get on your website may not be fruitful hence digital marketing lets you reach out to only those who have the need for your kind of service hence offering better lead conversions.

3. Customer support has become a priority

For any business to survive the one thing that they really need to work upon is establishing a reputation which is impeccable. In the past few years, it has become evident that customers will always prefer a company which does not have any scandals associated with it. Importance of Digital marketing today lies in offering you multiple ways to establish a personal rapport with your customer base. Be it email marketing or social media you can always offer the customer solutions to their problems and make them relate to your product by even providing live chat access. Your website and social media page can easily be converted into a place where the consumer can ask queries, give suggestions and hence take the association with you on a positive level.

4. Get connected to the Mobile Customers

After Google mobile first update nearly almost all the websites these days are made in a manner that they are easily viewable on the mobile as well. This is because that almost all customers have access to a smartphone and most of them even look for products on the same. In many instances, customers have changed their purchase plan and picked up a product from a different brand just because they were convinced that the new product has a much better functionality

5. Increase the trust for your Brand

The presence of your brand and service on multiple platforms gives the option to customers to rate your services as per their level of experience. A positive and favorable review left by a satisfied customer causes the new ones to immediately convert. These days contacting the social media page of a brand for issue resolution and other matters is a common thing to do. This, in turn, leads to the building up of strong image of the brand in the minds of the new consumers hence leading to more conversions.

6. Better ROI for your Investment

While earlier budget allocations were done individually to handle each kind of marketing medium the situation becomes more progressive now. Being digital you have access to packages at different levels of costing hence ensuring that you can pick up one which suits your budget best. Even a small level of investment done in a mode of email marketing has the potential to deliver results in terms of customer’s engagement. Using web analytics helps the business owners know whether your website is providing optimal ROI. While the website may not be generating revenue for you directly you can always track conversion rate of inquiries made through email and telephone calls to sales.

7. Digital marketing is Cost Effective

A small business needs to save up on its resources before it finally goes into the green zone and starts making profits. Digital marketing gives you the scope to reach out to many customers at the same time and that too within your budget. You can plan your marketing strategy such that you only use modes which lie in your budget. If there is a desire not to extend the budget then you can always target niche audiences who you know would definitely like and appreciate the concept of your offering.

8. Potential to earn higher revenues

Since the amount of money invested is less and the ROI more the scope to make money is much higher. As per a study conducted by IPSOS Hong Kong in accordance with Google has shown that compared to traditional methods, digital marketing is known to generate 2.8 times more revenue. This coupled with the fact that the conversion rates here are much high ensure that you are minting money as soon as you enter the fray. For organizations which are formulating their strategies keeping money in mind, this also means a faster movement towards the growth path they want to be on.