According to a report by Forrester, online sales are predicted to grow at an annual rate of 9.32 percent over the next five years. Those numbers are good news for e-commerce retailers looking to step-up their sales. But a thriving, healthy marketplace also means more competition for e-commerce store owners trying to attract their share of eager customers.
Stand-out from the crowd with unique e-commerce strategies to help differentiate your brand. From a killer unique selling proposition to inventing your own holiday to show your customer appreciation, these e-commerce strategies are sure to boost sales.
E-commerce store owners probably already know about Unique Selling Propositions (USP) to differentiate their brand. For example, Mast Brothers Chocolate creates quality, handmade chocolate bars with tools like a stone grinder. But it takes more than a clever USP in today’s marketplace. You also need a genius niche.
An e-commerce gadget retailer can focus on selling products directly to the tiny house movement to maximize space while delivering on quality with multi-faceted tools. The combination of a hyper-focused niche and USP makes your brand more compelling and easier to be seen and heard in a competitive marketplace.
Today’s customers want consistent brand experiences whether they’re shopping directly through a retailer’s website, in a brick and mortar store, through social media or with marketplaces like Amazon. The research also shows the trend has no signs of slowing down. Nielsen reports that consumers are using digital touch points throughout the buying process from research to reading through reviews and price comparison.
Give your customers a consistent experience no matter where they’re shopping for, and look to big retailers mastering the technique for inspiration. For example, Cabela’s adeptly integrates across various channels to offer a consistent brand and selling experience to its customers. This means use can check the availability of a specific item, like a fishing lure, in a nearby location, purchase that item offline and walk into the store to pick it up the same day.
Big brands are already partnering with influencers from YouTube stars to Twitter users with millions of followers. Some, like Gary Vaynerchuk, are influencers in an industry like marketing. Others are everyday people turned social media celebrities. And the ROI is impressive. According to to a poll by Tomoson, businesses earn $6.50 for every $1 spent on influencer marketing.
Research who has influence in your niche whether you sell kids clothing or business focused apps. Reach out to form a collaboration to promote your business in exchange for free products, a part of your marketing spend or other perks like VIP access to your business events.
Consumers are accustomed to being marketed to on a highly personal level, and businesses can leverage this trend to increase sales. Consider how Amazon automatically shows you products you might be interested in based on past purchases and searches. Follow-up with your own customers with personalized emails offering tips for products they’ve purchased, or announce discounts on items they’re likely to buy based on their purchasing history.
Showing your customers you care with a generic discount can get lost in the white noise of email. But creating a viral appreciation day in the form of a holiday could result in a big payday. The “Amazon of China” invented a holiday they called “Singles’ Day” and raked in $14 billion in 24-hours.
Brainstorm appreciate days and your own holidays that align with your product. China’s “Singles’ Day” could have also worked well for an e-commerce retailer selling clothes for fashionable and ambitious women. Send out an email campaign or work with an influencer to build up a buzz around your big day before unleashing it on the world.