Ecommerce is a growing market, and more and more businesses are starting to leverage its power for themselves. However, most people only think of ecommerce in terms of industry giants. Retailers like Amazon seem to be the driving force behind this ecommerce gold rush.
Ecommerce is a big business and is getting bigger every day.
- It is estimated that, by 2040, 95% of purchases will be made online — (Nasdaq)
- In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to almost double to $4.5 trillion by 2021. – (Kinsta)
- It is pridicted that B2B ecommerce sales will reach $12 trillion globally by 2020, with China and the US leading the global market. (Frost & Sullivan)
- By the end of 2019, ecommerce is expected to make up 13.7% of retail sales worldwide.
But is ecommerce only for industry giants? It turns out there’s a growing need for smaller retailers to fill in gaps those big-name players simply can’t focus on.
If you learn from those leading giants, it’s possible to make a name for yourself in the world of online selling. In this guide, we’ll uncover 7 things we can learn from ecommerce giants.
Image via Pexels
1. Chatbots Boost Customer Service
One of the newest technologies in 2019 is the rise of chatbots. Chatbots are an online tool for communicating with customers through automated Artificial Intelligence. You can already see them being used by massive ecommerce brands like Sephora, particularly on Facebook.
Chatbots are available 24/7, and they’re always there to help customers. They can complete orders, provide recommendations, and even answer complex questions about shipments. Around 34% of users say they would use a chatbot, especially to get a quick answer.
2. Smarter Recommendations
Big-name giants like Amazon seem to know what we want before we do, and we can use this power on our own to help customers find what they’re looking for. All of this comes down to something known as Big Data.
Big Data is the term for using analytics and other customer information to make smarter business decisions. Leveraging customer data to help them find what they’re looking for is a big lesson we can take from the big players.
3. User Experience
How your users interact with your website is the key. In fact, any disruptions in the user experience will send your users running to the competition. This is an area where smaller ecommerce businesses have room to shine. Because we’re naturally smaller, we have more room to improve on these user experiences in both big and little ways.
In what ways does your user experience matter online? Focusing on the following areas will help you succeed:
- Website load time
- Clear copy
- Checkout workflow
4. Voice Search
Another important lesson is about the rise of voice search. More and more users have virtual assistants like Siri, Alexa, and Google. These tools are changing the way users search for products, so it’s time to optimize with these new searches in mind. That means a change towards long-form, specific keywords is necessary. You want your website to pop up first if a user asks for your product.
5. Social Proof
Reviews matter now more than ever. A startling 88% of consumers say they trust online reviews as much as personal recommendations. Ulta’s reviews are a prime example of this. Reviews are displayed through their star rating, they’re easy to filter and search, and users can vote on the helpfulness of reviews. This all makes it easier for customers to learn more about products.
6. Faster Development
It sounds intimidating, but the demand for “new” is suddenly bigger than ever. Users are always on the search for the Next Big Thing. If you want your own business to be that thing, you need to be on the cusp of development all the time.
Big-name brands adapt to an agile workplace, always looking for ways to optimize and automate. If you want to compete, you need a similar structure in place. The team at WGroup can help you learn more about adapting to a fast-paced market.
7. Follow Up
Finally, the last thing we can learn from ecommerce giants is about the importance of following up. After you’ve made a purchase on a website like Amazon, you’re always asked to follow up a few days later. Amazon wants to know how your purchase experience went, if you have any problems, or if you’d like to leave a review.
It’s this follow up process that sets big-name brands apart. This is a form of transactional email, and these emails get up to 8 times more opens and clicks than other types of emails. Are you leaving customers in the dark?
There’s a lot you can learn by taking note of the industry giants. The world of ecommerce can feel intimidating. When you break it down into the leading trends, it becomes much clearer what you need to do to succeed.
Are you ready to make a difference? Try these ideas above to see where they take you. The world of ecommerce is bright, so go out there and make the most of it while you can.