Amazon, eBay and other popular online marketplaces may be the fastest route to selling your products, but not to making a profit.
Regardless of the number of units that you sell every day, you won’t make much money on marketplaces alone because of the transaction fees that they take from your sales.
Aside from that, being overly dependent on marketplaces won’t help you establish your own brand; people will always associate your product with Amazon, eBay, etc.
Below we list five ways to beat eCommerce giants through brand awareness, brand recall and customer loyalty.
Focus on Benefits not Price
More often than not, the cheapest item doesn’t end up in the checkout, but raises doubts about its quality.
Highlight the features and benefits of your product, as these are what customers are after.
Show them an amazing product that is reasonably priced, and they will want to get their hands on it.
Offer Personalised Service
The big players in eCommerce cannot possibly be there for every one of their customers, but you can.
Don’t leave a customer playing eeny-meeny miney mo on your website. Help them find exactly what they need.
If you are selling shoes and clothes, for example, offer your customers more than just a size and colour chart.
Consider adding a personal style app to your website, from which your customers can base their choice of colour and design.
Also, be sure to have a live chat, phone or email support in place, to answer impromptu questions.
Listen to Your Customers
To be able to establish a long-term relationship with your customers, take the time to listen to them and know what they think of your product and business as a whole.
Conduct a survey to find out how they heard about your store, what they thought of your shipping options, what they liked about your product and even what they didn’t like about it.
Then offer your customers a token to show your appreciation of them in the form of a coupon, a freebie or a cash-back. No matter how simple, it will go a long way.
Meanwhile, the survey responses will come in handy in the creation of new marketing strategies for your business.
Hold a Special Sale
Mark a day on your calendar when you offer a special sale exclusively for your best customers, meaning those who shop in your store on a regular basis.
Notify them beforehand of your new product or service which they can avail at a special price.
This is more than just a mere sales gimmick, as all qualified participants are surely going to talk about it for a long time, which is tantamount to free publicity.
Maintain Good Relations with Suppliers
Many suppliers prefer to do business with small online retailers as they are more capable of paying the price of their goods than their bigger counterparts.
Large retailers, who purchase products in large quantities, would often negotiate for a very lower price, with complete disregard for a supplier’s margin.
With small retailers, a supplier can offer a reasonable discount without sacrificing their target profit.
Having the ability to adjust certain parts of their business when needed is what gives small eCommerce retailers an edge over the key players.
Have you tried anything of late to outperform the giants?
We’d love to hear your story, share it in the comments below.
Here’s to your continued success,
Dave & Matt