As you might have noticed, the Ecommerce industry is one of the few industries in the world that have experienced a rise in market value, popularity, and efficiency during the COVID-19 pandemic, prompting business leaders from around the world to kick-start their own online stores and enter the global Ecommerce market.
As the Ecommerce industry continues to rise around the world, it should come as no surprise that it’s becoming increasingly competitive as well, as more and more brands enter the fray.
This means that smaller Ecommerce stores, as well as established enterprises, will have a difficult time maintaining cash flow and retaining customers, simply because of the numerous options shoppers have at their disposal now.
With that in mind, your key objective should be to optimize various internal processes, improve the productivity of every department, and innovate your way to more long-term customers.
Let’s take a look at the tactics that will allow your global Ecommerce business to thrive.
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Let’s begin under the assumption that you have already covered the absolute basics like personalizing your website, sales, marketing, and brand-building.
If you haven’t implemented personalization yet, then make that your priority before tackling these advanced tactics. After all, you need to have a solid foundation. Now, the first tactic you should implement is to simplify the shopping journey as much as possible.
To do that, you need to research your customers, use customer tracking tools like CRM, and map out their journey from the moment they touch base with your brand to the moment they make a purchase or decide to drop out.
This will give you invaluable insight into the internal decision-making process of your website visitors, and it will tell you exactly where your site is lacking.
You might find that customer effort is too high and that the customer has to click too many times to get what they want, which is a clear indicator that you need to streamline your website structure, simplify the checkout process, and eliminate all extraneous features – such as unnecessary log-in forms, surveys, and pop-ups.
The next tactic you should implement in your overall growth plan is to elevate the efficiency and effectiveness of your global supply chain.
There are numerous ways you can do this, and one of them is definitely to utilize supply chain improvement tools like shipping status, inventory management, order processing, and supplier management software.
Using the software is, of course, one of the best ways to grow your Ecommerce business as a whole and maintain operational efficiency, and your supply chain is one of the most important links in that system.
That said, you can’t rely only on your tools to improve your supply chain, simply because supply chain management does require plenty of personal contact and management.
As a good Ecommerce leader, you need to actively work on your relationships with global suppliers and distributors, and develop and implement new solutions that will benefit them, your brand, and most importantly, your customers.
Customer service is no longer just a department in an Ecommerce company. Over the years, it has become the most important piece of the Ecommerce puzzle, and nowadays it has become one of the most powerful sales and marketing tools, and a true business model for many Ecommerce brands on the global market.
To run an efficient customer service department that will take your company forward, though, you need to have a comprehensive phone infrastructure.
Now, traditional phone systems are expensive and offer little in terms of digital transformation, which is why VoIP is the way to go.
If you’re wondering what an internet voice protocol actually is, simply put, it’s a cloud-based phone system that requires almost no hardware, but brings numerous perks and digital features to take customer service to the next level.
Along with a digital phone system like VoIP, be sure to use direct messaging on social media and live website chats to communicate with your customers on a 24/7 basis.
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Running a global Ecommerce venture and a local Ecommerce store are two very different challenges. What many global leaders tend to forget is that customers from different regions and countries have plenty of online stores to choose from, many of which offer localized features and functionalities.
If you want to compete with local online stores, you need to translate your site to the local language and keep the local culture in mind, accept payments in local currencies, and offer on-site conversion features.
In fact, accepting payments in local currency is one of the key ways to build and run a successful Ecommerce website nowadays, so be sure to take website localization seriously.
On a final note, always remember that marketing psychology is one of the most powerful tools in your arsenal, which is why you need to build social proof on your website and around your brand.
The modern customer is heavily inclined to trust Ecommerce brands that other people trust and respect, and you need to show them that others are not only interacting with your store, but that they are interacting in a positive way.
For example, you can integrate a handy social proof tool that will display small notifications to visitors whenever someone buys a product, signs up for your newsletter, or downloads your free eBook.
This will tell new leads that others are putting their trust in your company, which will inspire them to buy something as well, and over the long term, develop a loyal relationship with your brand.
The Ecommerce industry is growing in value and relevance on a global scale, meaning there’s plenty of room for growth for Ecommerce companies.
That said, you need to act now to build up your competitive advantage, so make sure to use these tools and tactics to create a thriving online presence and attract customers from all corners of the world.