The digital realm is an open platform for young and talented entrepreneurs to whet their skill sets and to build a virtual establishment. The most fascinating part about erecting a virtual establishment is that you don’t have to start with a huge investment. There are multiple online platforms like Shopify, Shopnix, BigCommerce, Magento, etc that offers pre-build stores and themes, using which a young entrepreneur could kick-start their digital career, all starting with one small signup. We need young, vibrant, and innovative minds to drive economic growth to our society.
Credit goes to those radical minds who were ready to build, scale, and integrate technology to be a part of our day to day life. Now technology is playing an important role in driving the landscape of modern marketing. Technology just redefined how customers make a purchase decision. The information age is famous for its knowledge outburst. With the whole world at their fingertip, most customers tend to do a thorough research before they reach a final decision on whether to buy from you or to look out for a better alternate solution.
The best question will be, before you make a purchase, how many products would you compare?
Before we dabble into the depths you need to make sure that, what you sell will add value to the market. Regardless of what you sell, you need to educate the customer about the benefit he/she will get when entering into a commercial transaction.
It’s time. No more I will make you wait. Let’s see what basic strategies can help an entrepreneur sell online.
#1 Understand the Online Industry
It matters a lot that you understand the industry wherein your business operates. Consider that you are planning to start an online grocery store. To sell grocery online you need to have a basic idea of how the grocery market operates and which niche segment in the market seems profitable to target. As mentioned above the digital technologies are changing how people used to purchase groceries online. When you paddle through the industry you will be able to realize how technology is sagaciously used to bring in new customers and to engage existing customers.
What are the benchmark standards followed by leading grocery producers? Why people prefer to give more importance to organic groceries. To what extent technology is influencing the online retail business. How the reforms and government amendments will play a role in moderating the industry, etc.
When we would have thought that a business entity will dive into the market powered by the store fulfillment model, offering challenging services like chopped groceries, delivered to your doorstep.
#2 Establish a Strong Foot Using Buyer’s Persona
I have a strong feeling that the second you decide to venture into the digital world, and lead an entrepreneurial life the idea of the target audience would have crossed your mind. It is of GREAT priority that a business establishment needs to know who their target customers are.
Let’s take the example of starting an online grocery store.
Your market research has helped you identify profitable niche segments. Now you know which geographic region is more profitable when compared with other areas. Also, now you are able to identify hidden opportunities that seem to be ignored, but still the demand exists.
For eg: The target geography you selected demands for naturally grown organic vegetables and fruits. The people in this location have the purchasing power to pay a premium price for organic food. But there exists no offline/ online store that caters their needs. Now you have an opportunity to identify what the grocers want and work towards a goal to deliver it.
A buyer’s persona will help you identify the target customers pain points. It is a simple process wherein your business model is built around customers. Understanding the needs and wants of your customers will help deliver products/ services they want the most. A preposterous approach without giving due assiduity results in cost escalation. By understanding what the demography wants you will be able to source the right inventory and manage it with diligence. Afterall perishable goods have a short shelf life.
Few pain-points of organic grocers;
- Quality of groceries
- Health conscious
- Discern organic food with adulterated food
- Pollution, how it impacts the mental and physical health of a person, etc
#3 Personality of your Online Store
When designing an online store you need to consider what your target customers are looking for. For the above example make sure that you will design your online store in a way that it entices the online visitor to start and engage with your virtual presence.
If your online store is a dedicated grocery store, then make sure that the visitors see it with the same sense. Don’t over-work on the theme and make it look like an online marketplace. Don’t give room for confusion. With increasing online competition you hardly get 5-7 sec to convince the online visitor to make the pinnacle decision, whether to exit or to explore what your virtual store offers.
Before you finalize the theme, make sure that it suits your virtual identity. Do a small research, visit your competitor’s online store, compare multiple themes, decide on a theme that you feel will fit.
In the virtual world, your digital presence/ store acts as your identity. Your customers will judge you based on how your store looks. You need to factor in the customer experience. To what extent people are able to navigate and interact with your online store. The complex the process the higher the exit percentage will be.
#4 Leverage Creativity – Give your Customers More than they Anticipate
Use your creativity to discern your online store. Mediocre strategies may not be helpful in attracting and retaining customers. People want to be felt with your presence and see how your presence will influence their day to day life. Even you can be creative with your brand voice.
Let’s consider that you are selling apparels and toys. Your target audience is kids/ parents. So, the obvious question will be how creative can you be in positioning the products among kids and entices then to demand it. Or to highlight the benefit of using quality materials and make sure that parents will buy the best product for their kids.
One good strategy would be to offer multiple tools where the kinds can handout solving puzzles, creating superhero models, etc. Since the activity will also help kids use their creativity, with the right education we can inspire parents to motivate their kids to engage in the platform.
#5 Keyword Matrix and PPC Strategy
Paid campaigns are widely used to drive instant traffic. In PPC you will pay the service provider a sum to drive traffic to the website. Consider Google Ads as an example, with Google ads you will be able to bid for specific keywords and make sure that your website is positioned higher on SERP. There are multiple factors that determine your ranking on SERP.
In the initial stage, where your investment is at dearth, you need to focus on keywords that fall into the decision stage of the buyer’s journey. This is where your keyword matrix comes into play. A keyword matrix will help you decide what keywords are best to select for your PPC campaign. If your PPC strategy is not done with due diligence, then there exists a high chance that our investment in paid campaigns may not be able to justify.
A keyword matrix will have a primary keyword, secondary keywords, competition, bid value, and search volume for the specific keywords.
Sample keyword matrix;
#6 Convert your Customers to Brand Advocates
You need to have a strong strategy to slowly push customers into brand advocates. Brand advocates are loyal customers who experienced the product/ service you have to offer and are happy to recommend it to a prospect. The value seems to be great when a product/ service is referred to by a customer.
An eCommerce store can make use of user-generated content to root the domain relevance of the business entity. User-generated content often acts as a review/ reference/ testimonial from the customer’s end.
Parting Note:- To excel in the dynamic world, you need to hone multiple skill sets. Let me enlighten you, if you are planning to run a startup then there exists a high chance that you will end up managing most of the operation. The budget is limited and the situation will demand you to wear multiple hats, simple as that.
It takes great courage to let go an opportunity that promises you a regular paycheck. Most people keep their innovative ideas to themselves, the risk seems to inundate that they don’t want to venture into the unknown. After all, one needs to admit the fact that it’s not cynical to play safe.
I am a fun loving guy, and a digital aficionado. Being active in the digital world, I picked up one or two important points, First – I am waging a war on mediocrity in content creation/ marketing.
Second – Are you planning to go on a digital expedition? Start Now! @Shopnix is a best starting point. Connect With Me:- LinkedIn