The way of shopping has changed for the better with the flourishing of online marketing space. Whatever we can think of buying, we can now conveniently get it online. Although this has increased the opportunities for sellers but has exposed them to fierce competition to grab the same eyeballs. The online marketplace is now crowded than ever and your store must stand out to gain customers. Customers have numerous options to choose from you have to strive to pull attention towards your online store. Further, you have to compete with recognized brand names like Amazon to make a mark.
Here are 7 helpful tips for your online store to stay ahead in the competition.
Sell Niche Products
A wise decision to draw attention towards to website is to move to a less crowded marketplace. You can achieve it by carefully creating a niche product that appeals to a specialised section of consumers. Here is an example to help you understand this; Let’s consider that your existing product is something with fierce competition like biscuits. The idea of selling a pack of biscuits is too mainstream as customers already have myriad options to choose from. However, if you plan and select a niche like pet food, you can enjoy a monopoly to a great extent. You will have a defined market segment of Pet lovers to cater to. Since the demand for this product is high and the options are limited, they will be willing to spend more on it. Meticulous research of the market and audience is recommended to find the ideal and profitable niche. It must be followed by an effective marketing strategy to attract more customers.
Get Creative with your Products
You might find it quite unconventional to increase prices to stay ahead in the competition. However, it is the best possible way to maximise profitability and the customer base. All you have to do is make products that the customers cannot refuse to spend an extra penny. Make your product unique and special with your creativity. Create a version of the product that is in line with the latest trends in society. Unleash your imagination and the possibilities are unlimited to make the most of your product. If you are wondering how you can unleash your creativity to make biscuits unique, here is an example. Superheroes were and will always be an inevitable part of one’s childhood. You can introduce a pack of Avengers-themed biscuits that will come in shapes. Kids will love this idea and will keep coming particularly for their favourite superhero biscuits. Even parents won’t mind spending $10 instead of $5 for the same product in different shapes. This amazing thought would incur just minimal cost, but the profit you earn would be almost double. Another great way to differentiate your products from competitors is to change the packaging. You can raise the price of the existing product by creating an interesting packing that appeals to the audience. For the above example, an infinity stone shaped container for the cookies instead of a standard wrapper can work wonders. Make your E-commerce website stand out by adopting such creative methods.
Customer Service is the Key
The most important asset of every business is its Customers. If you can raise the bar of customer service quality, you are already ahead of most of your competitors. Providing outstanding customer service and promptly addressing their queries can gain you more loyal customers. This will eventually result in positive word of mouth promotion which can boost the recognition of your brand. Find out ways to provide the highest standard of customer service. Here are some realistic ways to stay in the minds of customers for long and make them come back for more:
- Check the negative feedbacks of customers for your competitors and let them know how you are better. You will get to know the customer’s expectations with this and can work towards it.
- A service guarantee can help you win the trust of your target audience effectively
- Allow customers to make a purchase as guests and do not make signing up mandatory. An easy to access E-commerce website will boost the conversion rates to a great extent.
- Surprise the customers with exclusive privileges, offers, and discounts. In addition to increasing sales, it will also gain you happy and loyal customers.
Wherever it is possible, offer tailor-made solutions and be prompt in communicating with the customers. Make your brand a reliable one by keeping customer satisfaction on top of your priorities.
Double the profits with Product Bundling
This innovative marketing strategy involves creating a package of related products and selling them as a single unit. Instead of scrolling to find different products, the customers will have to just add this package to the cart and complete the purchase. It will save time and also ease the entire shopping experience. Include an option to customise the products that customers can add or change from the package. Further, you can get creative by making different packages according to the needs of the customers. It can differ based on of quantity, packing or even the variety of items. For example, you can create a pet supplies package with pet food, bowl, toys, pet shampoo, etc. It is a convenient way of shopping for the customers as they get all that they want in a single product bundle. A separate package for different pets like cats or dogs can make the pet owner’s life easier. Offer discounts on it and let the customers get familiar with the benefits of buying the products together.
Make the most with Limited stocks
The term “limited stocks” has extreme potential in it make your sales soar. Create an exciting unique range of products that you will sell only for a limited time. This will create an urgency in the mind of buyers to buy it and they won’t think twice before placing the order immediately. For positive results, this strategy needs to be followed in line with the trending topic related to your product. Select a national or local event that is the talk of the town and relate to your products to it. Set the unique product’s availability wisely according to the dates of the event. For example, a special line of products to pamper your pets on Pet Day is a great idea. You can dedicate either the whole month or week to celebrate it with your special products. An effective marketing strategy is required along with it to make the customers aware and arouse their interest. It is recommended to repeat this technique and launch new limited stock products frequently. Check all the related events and create more reasons for customers to stick to your brand .
Sell with a Story
Sell your product with a story to increase its perceived value. A blend of skilful research and imagination is all that is required to develop an engrossing story. Let’s consider the same example of pet food and see how you can create a story out of it. A story can be developed by answering the following questions. What was the idea behind the invention of special dog biscuits? How is it different from regular biscuits and what are its health benefits for the dogs? In addition to being informative, these stories generate curiosity among customers to find out more about your products. Approaching the customers with products with fascinating stories like this can make them stay glued to your products. Include this in the product packaging to make it interesting and make the story even more noticeable.
Offer more with Versioning
We have all heard of automobiles and cell phone companies offering different versions of the same product. Although the difference might be minor like a specific feature, performance or price, it offers the customer a variety of choices. You can make use of this technique of product versioning in almost products and stay ahead in the competition. With this, you offer your customers numerous options to choose from and you can win new audiences too. Let’s go back to our example of pet food to understand this. A dry and wet version of the dog food can let the customer choose according to the pet’s needs. The possibilities of creating different versions are endless and sometimes simply changing the packaging is all it takes to be successful. Let your online store speak for itself by following these tips. Make it a point to be creative at every step of the way and think out of the box to stand out.