eCommerce is a saturated marketplace. The mass availability of goods to consumers means that customers are no longer interested in engaging with the marketplaces based on the quality of products alone. It’s more about delivering experience, and that’s the sole reason why competition in this niche is fierce.
Clearly, a “saturated market” is like a fear trigger that worries every entrepreneur. That might be true. But if there is a problem, there must be a solution as well. Competitive marketplaces can also be a good thing. How? You know that there is a demand, and you can revolve your strategies around many aspects surrounding your product offerings.
Further, a saturated marketplace drives you to take the “next steps” that you never think to include in your business unless it’s absolutely necessary. Hence, you won’t ever get complacent and try harder to keep yourself ahead of this competition.
Are you trying to stand out in a saturated eCommerce Marketplace? This article has included all the necessary steps that you must include in your business strategy to grow leaps and bounds in 2022.
Start adding value
Plagiarism isn’t only an issue with content but with ideas as well. Never leave your brand’s persona and copy your competition no matter how tempted you feel. Remember, the audience is always on the lookout to find something unique. It is the only way to carve out your brand and identity.
The best way to do that is by “adding more value.” For instance, you can offer large quantities for the same price or switch to some add-ons that are usually inexpensive, considering the cost of the product. Depending on your niche, you can also offer free guides or downloads that your audience might be interested in.
Whatever you do, make sure it helps your audience in some way so that they feel like, “I want this no matter what and from this strategy.”
Revise your pricing structure
Pricing is one of the most critical factors that can break or make a sale. However, it doesn’t mean everyone else needs to be undercut for capturing your audience’s interests. For instance, if your prices are higher than your competition, you must focus on showcasing your reasons—the moment you say “why,” they will cling to you. For instance, if you check Evolis Australia, it tells their customers what makes it stand out in a saturated eCommerce Marketplace and why they should buy from them.
By drawing your customers’ attention towards your ingredients, shoppers will feel more confident to buy your product. For example, Buyr.com focuses on providing value by giving their customers an option to “name their price.” This unique pricing model allows customers to bid on the product’s price, thus helping them save more than marketplaces like Amazon. Bringing in unique price offerings rather than monotonous “buy now” or “discount coupons” ensures that the customers like your brand more than your competitors.
Build an audience with a unique selling point
Before advertising your products, start building your audience. Use your branding strategies and make it your calling card. If you can make it memorable, you can end it in a sale. This is why a unique selling point or USP is crucial for you to stand out in a saturated eCommerce Marketplace in this saturated marketplace. You will require a skilled marketer to help you develop a unique approach. They will help you make your store memorable using careful analysis and commitment to providing something special and of value to your customers.
This is why you must think of building your brand’s voice as your personality. It should be consistent across all channels. Customers will recognize it even without seeing your name if you are doing it right. Try to be a bit playful, edgy, and practical. Besides that, work on your brand’s value proposition.
For example, show your customers what they can find in your online store and nowhere else. It should communicate that your brand is the only one in the market providing this unique value. Finally, work on your brand’s story around your customers so that they start engaging with it.
Differentiate your brand
Product quality and pricing get your customers to check out your eCommerce store. However, if your customer service isn’t excellent, they will never return. This is why exceptional customer service allows you to stand out in a saturated eCommerce Marketplace. But how can you achieve that? Begin with making your policies crystal clear. It includes shipping, returns, and fulfillment charges. If you are upfront about everything, customers won’t face any issue which might damage your reputation.
Besides that, you must offer multichannel customer communication options. Some customers might prefer email, phone, while others would love to contact you over an online chat through on-site chatbots or social media. Keep someone on staff who can respond to these communications. Create a loyalty program and offer exclusive sales for customers who join.
Collect data about a customer and use it to personalize offers easier. Remember, this is the age of personalization. And if you want to achieve it, customer data and insights will be beneficial.
Another way to help differentiate your brand is the packaging. There are services that can provide you with eCommerce ready packaging that can help make your brand stand out. This packaging can be very appealing as well as eco-friendly.
Tap into change
Shopping isn’t only about “click on the product, buy now, payment, and done.” Shopping is very much a social experience. Since it is online, many entrepreneurs think that all they can do is provide better products at discounted rates, and it is over. It’s not like that, and it lacks traditional aspects of the shopping experience.
So, you have to engage with your customers through different social media platforms like apps, communities, or social marketplaces. This allows them to redirect to your online store. You need to offer them seamless navigation to directly engage with your product on your online site and make customers purchase just a few clicks away.
If you go by the online data, social selling attracts around 45% more business opportunities. It is a cost-effective way to engage with your customers where they are available most of the time. Ideally, Twitter, Facebook, Instagram are quite popular platforms for social selling, and this will allow you to stand out in a saturated eCommerce Marketplace.
For instance, you can opt for mass marketing using Facebook messenger. Using hashtags for your products provide discounts for the customers who share products on their social media platforms. Use social media platforms to sell your services or products directly. Optimize each platform and improve your brand building and loyalty.
Conclusion
eCommerce isn’t only about bringing a customer online to buy things that are often available offline. It’s about giving them experience on different levels. Creating a coherent brand will allow your customers to see you as the best in business. Hence, making you stand out in a saturated eCommerce Marketplace. So, are you all set to grow in 2022? Use the above information and grow more.
