The digital world has given both small and large online retailers equal opportunity to reach out to a wider audience from anywhere, unlike it is in the real world. Despite this opportunity to reach as many audiences as possible, large businesses still seem to dominate and hold a larger market share. So, how then can a small online retailer survive in a market with already existing giants who have created a name for themselves already? The truth is, these existing e-commerce giants all started up with so little of the market share and rose to what they have become.
A few tips on how to keep your small e-commerce business competitive and relevant in the market will help to generally boost sales and attract more people to your business.
- Focus on a more specific line of business.
A critical approach to competitive marketing is to first identify that particular area your business will thrive in and focus on it. Diversifying can be tempting and at the same time, can consume more resources. As a small business looking to grow, spreading your resources into various areas you are unsure about can generally put your business at risk. Remember it is a small business and resources are very much limited, a lot is still dependent on the capital. Large companies are probably able to diversify successfully because they can generate revenue from other areas in which they can channel as resources into another unit. Narrowing down your business to one particular thing, an area of the market that is not much of a competition. This generally makes things more straightforward, and this means much less cost.
By doing so, your audience knows exactly what you are out to offer. Customers tend to trust the quality of a product from a retailer who deals explicitly in that line of merchandise. When putting up a website, ensure your e-commerce design properly displays what exactly your line of product or service is about.
- Up your Marketing game
Marketing, an activity of a business that you cannot do without. As a small business, you really need to ensure your marketing team is as effective as can be. A good marketing campaign is the first step to enlarging your customer base. Through shopping sites, businesses can get essential information from their customers like their email addresses, whenever they click to register. Your website development should let people register on your site. Asides from your websites, your marketing campaign should extend to email, social media and even keywords through search engines. E-mails help you focus on ads and promotions to your already existing customers, that way you get to keep them updated with offers. Social media helps you reach a wider audience, and you get to upload a lot of videos and pictures about your product for people to see. You can also provide links to your website for people who want to find out more about your product and services.
Search engine optimization is another way to boost your website’s profile, using the right keywords on your website helps the search engine to better recognize your site, and this puts it in a better position on the search rankings, making it easier to find. This way, when people search within a range of keywords your website appears among the top listed for that particular product or service.
If you want to take your marketing even further, you can think of going into having a mobile app. Mobile app platform can be very effective in sending real-time updates to customers through push notifications. Having a mobile app will make shopping on your platform easier, they wouldn’t need to go to your website before they can access all your products and services. There are several app building software to help you achieve this.
- Make your page and promotion more attractive and rich
People are more attracted to sites with rich contents, videos and even reviews. Displaying a whole lot of images on your product site, even available videos and honest reviews about your product. Customers find this very important, and it naturally attracts them. The same goes for your social media pages, uploading rich contents and sharing videos and possibly events concerning your promos, draws a lot of attention.
Remember, while your e-commerce business is small, it does not have to remain so. If you take active steps to continuously improve your small e-commerce business, you will slowly begin to claim a reasonable amount of the market share. Hopefully, the tips listed above will set you on the right path to growing and improving your e-commerce business.