By allowing customers to place any order online without leaving their homes, eCommerce transformed the way people purchase. The COVID-19 pandemic produced the ideal storm to propel a new generation of eCommerce that places speed at the heart of the equation, even if delivery efficiency and convenience had already acquired prominence in the previous several years.
How is the Current eCommerce Scenery Shaping?
It’s a never-ending struggle to increase conversions, whether you’ve had an online store for six months or more. With the average cart abandonment rates reaching 68%, including both new and returning customers, you want to do everything in your power to attract new clients, encourage them to spend more money and convert when they return.
Customers and patients today demand and expect shopping experiences that are both personalized and efficient. As there is currently less friction in the purchasing process, when those experiences are provided, customers prefer to buy more and remain loyal to the specific seller. Direct-to-consumer (DTC) business models can prosper as a result of this. Additionally, 7 out of 10 (69%) Americans bought something from a DΤC brand during 2020.
As a result, of those statistics, more and more manufacturers decide to enter the eCommerce segment, but to do so they need to come up with brand-new strategies to strengthen their online presence. What are those strategies? Keep reading to find out!
Which are the strategies for Growth Online?
First and foremost, you must ensure that your online approach is robust by paying attention to the basics.
1. Get the Basics Right
a. Optimize your online assortment
Complications in coordination across traditional, new, and digital channels will arise as sales and marketing teams seek harder to integrate digital growth strategy in order to take advantage of digital buying trends. One of the keys to ensuring the successful online expansion of your business is to optimize your digital assortment in order to meet both the needs of long-term planning strategies for online and, ultimately, omnichannel category management, as well as the current shopping demand.
A highly sophisticated data and analytics platform can even be used to replenish your products before they run out of stock by forecasting stock depletion and trends.
b. Showcase your products with top-notch images
Invest in a professional photographer to take stunning photos that highlight the attributes of your products since they are essential. Additionally, ensure the product images are realistic, because 22% of online product returns occur when the actual product differs from the image. Also, make sure to post multiple product pictures, as digital consumers generally require an average of three to four photos when making a purchase online.
Cambridge University has actually developed several guidelinesto design optimized eCommerce images for mobile, to better communicate the 4Ws:
- Who is the brand?
- What is the product?
- Which variety is it?
- HoW much of it is there?
c. Improve discoverability on ePharmacies
To increase the likelihood that customers will select your brand over competitors, make sure to keep the information about your items organized and updated in all of the online pharmacies, where they appear. Additionally, as consumers tend to not scroll past the first page of results, the top 5 products on the first page of each category receive almost 67% of all product page views. This will make it simpler for customers to find the product they need to satisfy their needs and make online shopping easier and hence more preferable for them.
d. Win the top digital shelf positions
The digital shelf gives marketers the chance to present their goods and interact with customers at precisely the correct time in the customer journey, which is when they are doing their research or considering making a purchase. While two-thirds of click-throughs occur on the first page of search results, just under half of shoppers claim they don’t scroll past it. This means that appearing in the top notch of the digital shelf, in search results is crucial for your business. There are a few ways to increase your chances of ranking at the top, including creating thorough product listings, making sure products show up when relevant search filters are used, promoting recently launched products through paid advertising, avoiding stock outs, providing detailed product descriptions and considering your delivery options compared to your competitors.
Adjusting your digital shelf optimization strategy for each platform will take some time. As these platforms evolve and search results change, you’ll need to continuously review your listings too. Consider using an AI-powered tool that can help you track and measure your digital shelf performance.
e. Earn good product reviews
Since 67%of buyers are affected by internet reviews, according to Moz, adding customer feedback can help boost your online sales. Additionally, if a product receives negative feedback frequently, you should either address the issues or stop selling it. Make it as simple as you can for customers to contribute reviews by allowing them to give both a star rating and a comment when adding reviews.
2. Join Business Plans with 3 or More Top ePharmacies in your Country
3. Boost your Online Sales with Brand loyalty
4. Build the Best Omnichannel Strategy
Which are the key success factors of an Omnichannel strategy in the Consumer Healthcare sector?
Some initial success factors for omnichannel strategy success include, but are not limited to developing relevant content that fits both the channel and the segment, finding the right mix of channels appropriate for your audience at the time of engagement, orchestrating the channels, and establishing a ‘closed feedback loop’ to ensure continuous adaptation of engagement.
Staying consistent when you have an omnichannel presence or sell with multiple retailers can be tedious, but with Convert Group’s digital shelf analytics platform, maintaining consistent branding and building a strong omnichannel strategy is quite easy since you can see all your brand’s products across different retail channels in one place.
5. Experiment with DTC Models
6. Keep an eye on Q-Commerce
Set your Online Growth in the Correct Path
You can use Convert Group’s user-friendly eRetail Suite, which provides you with all the tools you might need to monitor your presence online and much more, after you have a good understanding of the steps required to succeed and grow in the online channel.
Through thorough data insights and market analysis, Convert Group enables manufacturers and retailers to work together to better understand performance, market share, and competition. Our dedicated team of eCommerce experts is here to help you transform complex data from various retailers into actionable insights, get your data sell-out per sector or retailer and thus help your brand increase brand loyalty, accelerate customer retention, and increase ROI.
If you’re interested in developing a more data-driven eCommerce strategy for your brand, get in touch with us!