Since the onset of the Pandemic, businesses have undergone a sea of change. The new normal demands a robust e-commerce strategy. The customer is looking forward to online purchases and deliveries because the Pandemic has created a shift towards online buying.
Therefore, given the shift in the business environment of the world, a well-planned e-commerce strategy is required if you have not subscribed to the online business mode till now. This may require extensive planning, analysis, and an effective team. An impactful e-commerce strategy would not be possible without detailed step-by-step planning.
An Action Plan
A clear and specific action plan which details the action required at each stage is mandatory. To develop a successful action plan, it is important to set up clear short-term and long-term goals. An e-commerce platform will have many new functions to be looked after. Make sure that a team or worker is assigned to each task and goal.
Study the Competitor’s Model
Make sure that you carry out a detailed study of your competitors and the market leaders. This will help you in gathering information about the target audience, the brand positioning, online promotions, and campaigns. Depending on the study and with the inputs of your team, you can formulate a strategy regarding the target customer and brand positioning.
Building up Internal Capabilities
Once you have gathered the required information, it is important to tick the following boxes:
A Friendly and Interactive Website: An e-commerce venture requires a friendly, interactive, and glitch-free website that serves the customer well. The website is the interface with the customer and should be studded with appropriate features. The team handling the back end should receive extensive training.
Flawless Logistics: Your logistics need to be in place and in focus to deliver the products at the right time. The team overlooking logistics should have excellent communication within. Customers may have a high expectation of getting the right product in the right packaging; therefore, it needs to be taken care of. Additionally, the return policy needs to be clearly communicated as well as executed.
Digitized Way of Working: Each worker now needs to be aligned, trained , and sensitized toward a digital environment. If your business is trying to make a transition to e-commerce, then developing a digital outlook becomes even more important.
Product, Procurement, and Pricing
Your product range should be appropriately catering to the target customer. One of the bottlenecks of e-commerce businesses is inferior product quality. Make sure the quality and pricing are suitable for the customer. Procuring the right products from the right sources and sound inventory management will help you to a great extent in making substantial profits.
Social Media Presence
Another critical aspect of your e-commerce strategy is a well-thought-out social media presence. As social media has become the major source of information, making optimum use of all social media channels is recommended. Depending on your product range and consumer type, a separate strategy for each platform is required. The team handling social media needs to execute their plans regarding the following:
a) SEO: SEO or Search Engine Optimization is one of the most important aspects of digital marketing strategy. Search Engine Optimization helps in making the business be easily found upon search by the prospective customer over the internet.
b) Content: Identifying and creating the right content through blogs, vlogs, customer reviews, and influencers will help you in reaching the target audience.
c) Emails: Email marketing is also an effective tool. Relevant content in the form of newsletters should be incorporated into your marketing strategy.
Training the Team
The team responsible for your e-commerce presence should be clearly assigned their tasks. If you have been an e-commerce player, training the team periodically according to the changing environment is required. If you are setting up a new e-commerce business, try training the team in the most comprehensive manner. The team is your most valuable asset , and any ambiguity can lead to serious lapses. A seamless inter-departmental and intradepartmental communication is essential to attain desired results.
Robust IT Infrastructure
It is important to maintain a consistent experience for the customer. Facing too many glitches may put the customer off. Your IT team and infrastructure should remain completely updated. The team should be attentive as well as available at all hours.
Focus on Customer
The customer and a deep insight into their behavior remain the key drivers in the e-commerce strategy. Collecting as much information about the customer through modern tools like AI and big data will help leverage your delivery. Investing to know the customer and reaching out to the right customer will be your right e-commerce strategy.
The key to a successful e-commerce strategy is adapting to the changing environment. You must take ample time to formulate a winning strategy that delivers results and keeps learning new things.