We welcome to the 4th episode of our ecommerce series; we all have been learning everyday some new stuff from the ecommerce activities happening all around; even we were working on a great brand “Archies” wherein we have rolled out their new website created on Good to Go – ecommerce solution powered by Finesse and have learnt a lot on ecommerce and etailing as we prefer calling it.
Recently, we are sure even the smallest of retailer as well as manufacturer have been approached by one of the big guns (Flipkart/ Myntra/ Jabong/ Amazon) to set up their shops and sell online. They have done some tremendous logistic improvement to promise next day delivery and are aiming for same day delivery too.
Start today! Learning from the selling online experience as we mentioned in our previous episode is the PRIME take home. Our learning from our experience and from the overall eco system which is growing leaps and bounds every day has been mentioned below:
1. Creative | Site functionality: Look at the ease of navigation and intuitive design while creating an ecommerce website; the products needs to be highlighted as Product is the Hero; don’t look for too much of variations for the naming of the links and keep it simple; Amazon still has the neatest design. Approx 55% of the browsing happens through mobile devices; ensure you have RESPONSIVE website which allows mobile users to shop on the move!
2. Product will be the key to the success of the online shop, choose and create the right product categories and sub categories. The browsing should be made easy w.r.t. price/ discounts/ new arrivals. Create multiple browsing routes, e.g. For her/ Him/ boys/ girls/ occasions. What you want to promote should be highlight of your website. Keep your Menu bar flexible enough to focus on ongoing events and occasions.
3. Also ensure you have schemes and promotions on your site to UPSELL; when they are on your site, give them reasons to increase their order value.
4. If you are not a VC funded company do not work on discounts to lure customer; there is nothing called customer loyalty – they hop across to the competitor at the slightest price difference
5. Focus on the Logistics partner; select who will be able to offer you the best network with hubs all around; Amazon & Flipkart has done some amazing creation of end to end logistics and is offering services to you as stand-alone point
6. Create an experience – wow the customer; imagine you order at 5 in the evening and that product is available at your door the next morning before lunch. The packing needs to be decent and if you are charging premium for Gift packaging, ensure you deliver what you promise because What you see is what you get is the KEY! Click real pictures with minimum effects and do not over promise. WOW the customers with your constant connect and update on all steps of the transaction via email/ SMS.
7. Look at the number of steps/ clicks by which a person can complete the transaction – the check out process needs to be kept to minimum clicks/ pages. The payment gateway should also be efficient; even better would be to keep multiple payment gateway options for ease of the users.
8. Analytics and insights will play a major role; what products are being viewed/ added to the cart/ bought by what demographics? Capture everything and use an expert to break it down into actionable points and ACTION them!! e.g. a) We realized only 20% of people who create their cart actually pay for it! Have a trained person call and convert the order b) Only a fraction who register with you actually Shop – give them a reason to BUY first time from you!
9. Now that you have the customer; DO NOT LOOSE them! Retain your customers for repeat purchase; that’s the only way you will be able to make profits. Have some decent CRM in place
10. Now comes the promotion part of the site; look at what you are spending on acquiring a sale? What’s your average ticket value? How much are you willing to spend to get customer – do not over spend if you are not looking for VC to buy you out? Choose you medium effectively.
Give reason to your customers and connections to spread your BRAND through word of mouth; as customers who are acquired with reference have tendency to be loyal and will stay longer with you. DO NOT forget to reward your customers from doing so.
11. Re-Target/ Re-market are the buzz words in the online industry – look for the best service provider who can get you the right mileage
12. Incentivize your customers for word of mouth promotion and social media engagements and referrals they do for you. Oreo, Starbucks, Kotak Mahindra & Tata Docomo have done some extensive Engagement with the customers as the KEY on social media. Search Engine Marketing is another way to increase visibility.
Good To Go – Ecommerce Solution, powered by Finesse Interactive will help you achieve greater heights. Get in touch with us to know more!