It all ends up to a stiff competition when you are in business. Only there are few who are able to pull the feat and sustain for many years even though around 80 percent of small businesses survive their first year.
Only 30% of their operation still runs in their businesses in the 10 years in business.
While the others die a slow and painful death, what is the “it” factors which allow some businesses to thrive? How do you avoid the failures and repeat over the successes?
Staying ahead of the competition is a big part of the equation. It all requires paying attention to the market and knowing how to outsmart your competition. You can easily pull ahead of your competitors by correctly implementing a few simple e-commerce tricks, fortunately.
User Experience in E-commerce
To increase your bottom line, user experience improvements can work. They all suffer from poor conversion rates as approximately 97 percent of websites fail at the UX.
If you can improve your UX then you will be ahead of the game and competition as it is highly likely that your competition is failing.
If you want to instantly make your site friendlier all you need to do is to include easy navigation, mobile responsiveness and less clutter on your pages which are some top things which you need to include.
An incredible job is done on the UX by the Pinterest site. Links from all around the web are all saved in this site. The other sites did not offer images or click-and-save features which could be easily integrated by the blogs.
To become almost addictive to the users, this functionality allowed Pinterest to overshadow its competitors quickly.
- Know how and where to advertise
You first need to figure out where they are spending their time online if you want to reach your target audience. Seeking out your competitors and figuring out where they are advertising is one way to do this.
Google Alerts and What Runs Where, a utility which allows you to track your competitors by looking at ad networks in different countries are tools for spying on your competitors.
This is a smart tool that allows you to collect information from a highly targeted audience of people who might be most interested in your product if you are not using Facebook lead ads. To get them to sign up to your mailing list, you would offer a special deal or a free download.
You can, therefore, market them to go forward. This would be a smart move on your part as this step is something much of the competition fails to do.
- Competitor Map
You have to know all you can about them to get ahead of your competition. With this creating a competitor map can be quite helpful. It can still be a useful strategy even if you run a global business.
Placing the other companies’ headquarters on a map is what all you would be required to do. Where the company’s core markets are and to give you insights to the possible delivery time and cost will create a visual representation by doing so.
You will also require some time to browse over your competitors’ sites. What can you do better than they do as what are they missing?
The king of an e-commerce website is Amazon. They all began to eat into Walmart’s sales which are forcing Walmart to take a deeper plunge into online retail.
- Going above and beyond
Analyzing what they have to offer is one way in which you can differentiate yourself from your competitors. Both the products and the shipping costs should all be looked into.
Think of the ways you can top them with more products, unique products, better sales, more frequent sales, free shipping, buy-one-get-one-free offers, and as many extras as you can handle once you have a good idea of what your competitors have to offer.
Any problem on your site will all be fixed.
- Customer Service
It all goes hand-in-hand when it comes to customer satisfaction and customer retention. A company with excellent customer service can rise above the competition even if all the factors are equal.
Retaining current customers becomes even more important when you factor in a current customer which is 60 to 70 percent more likely to buy from.
All you need to look is to your competition’s customer service as you need to take your time. Contact them with a question or complaint to study how they would handle that as you go undercover.
- Knowing your strengths
Through the eyes of your competitors study your site. What strengths do they have? To get solid feedback on everything from the shopping experience to the buying process considers hiring some mystery shoppers.
Play them up with your current and potential customers once you know your strengths. For all your questions make sure to tell them that you are available round the clock.
Look into how you can improve in all these areas if you have uncovered the weaknesses. How would you convert the weaknesses into your strengths?
To pull ahead of the pack and become a success in your business niche, applying simple e-commerce tricks and studying the competition will allow you to pull ahead of the pack.
How it made them feel as the customer tend to only remember your last interaction with them.
For every consumer whom you interact with, that is why every interaction needs to be the absolute best experience possible.