Even with a stable economy and the absence of a global pandemic, setting up an eCommerce business is not without risk.
Understanding consumer habits is key to developing a standout brand in today’s climate and so creating a business that can easily adapt to these trends is paramount.
But how best to drill down into the needs and wants of your potential customers, and how can you attract those new buyers while keeping your existing audience onside?
Here we will look into the ways to make sure your business is as consumer-driven as possible, as well as discussing the benefits it could have to your company.
Getting to know your audience
It is no good launching headfirst into a strategy that you have seen a rival company use or following something that has worked for another business.
True success comes with fully understanding who your customer base is, what they want, and so much more.
Social media has become a vital tool in this regard. A recent survey of business-owners revealed that 84% used different platforms for brand-building, with social budgets being boosted amid the coronavirus pandemic to keep brands in the public eye.
Customer reviews are also vital in getting firsthand information from your client base, so promoting them – whether via your own website, or a third-party – is a key consideration, and can also play a massive role in attracting new custom.
Harnessing your customer base
Hopefully your products and services attract a bunch of positive reviews. If so, sing about them loudly!
Research shows that 84% of customers trust online reviews as much as they do recommendations from friends and family.
How many times have you had a decision to make between two similar products on an online store, and how did you choose between them? Chances are the opinions of others that have previously made the same purchases swung you in one direction over the other.
Rewarding your customers for posting reviews is one way to encourage them, and is just one of many tactics to promote repeat custom.
It is believed to be five times cheaper to keep an existing customer than attract a new one, so finding a loyalty program app that does much of the work for you could be a game-changer.
Whether you could benefit from an ‘earn and burn’ points system, establishing a VIP section of your store, or adding gamification to your offering – giving people a reason to come back to you time and again could see your bottom line look a whole lot healthier in quick time.
- Gain a full understanding of what customer profile you ought to target to secure repeat custom.
- Focused marketing campaigns will be more efficient, cost less, and bring in more customers per cent than something more scattergun.
- Rewarding customer loyalty can secure repeat custom – bringing people to your platform again and again and keeping them out of the clutches of your rivals.
- By informing your future strategies, you can stay ahead of the competition by moving with the times and changing demands of your customer base.