Covid19 pandemic created a world where everybody is staying in their home. Work from home has become the new norm. Although social distancing has disrupted retail stores, studies have shown that there is a 50% growth in online sales this year. If you have an online business, then you should try to adjust your business strategy for a troubled time like this. Here are a few handpicked suggestions to maintain your business growth during this pandemic.
Building Brand Loyal Customer Base
Studies have shown that there is a 70% chance that your existing customers would buy from you, whereas the number is around 10-20% for newly acquired customers. This signifies the importance of building brand loyalty. To create a loyal customer base, it is paramount that you focus on your customer service. It is advisable that your customer service should be available 24/7 through various channels such as social networks, mobile apps, emails etc. According to Michael Giannulis, training your support team properly is another vital task that you should not skip. A business should be transparent while talking to customers. If there is a delay in product delivery due to this pandemic, let your customer know in advance, so they don’t feel cheated. Also, we all are currently doing business in a customer-centric model. It’s all about the customers. If you sell jeans, then write about the latest fashion tips on jeans in your blog. Make sure to do a little bit of research about the problems your customers are facing.
Optimization of Your Website
As most of your customers will use the online stores to purchase goods, it is better that you adjust your website to improve the overall user-experience. As times are changing, keyword searches will change too. Make sure to adjust your keyword strategy with this changing atmosphere. If you have products or services that might be suitable for the current COVID19 situation, then you should reorganize & display them on the homepage. Suppose, you are a seller of N95 masks; there is a high demand for these masks right now. It would be best if you made sure that those masks are available on the top of your homepage as they are the most purchased product right now. You don’t want to lose this opportunity. Also, you might disable the ‘cash on delivery’ option due to the social distancing norm.
Michael Giannulis Recommends Re-adjustment of Your Supply Chain
It’s natural that your business will face disruption in the supply chain due to this pandemic. It’s time that you have a good talk with your manufacturers & suppliers. Did your manufacturers stop their productions? How many products do they have in their stock? When will they start production again? These all are critical questions you should ask. It is better that you look for the second group of suppliers as a contingency plan for your business. Build a current inventory of all the bestselling products such as sanitizers, masks, etc. If you are having trouble with your logistics, then you should find another delivery partner who can provide the products to your customers in time.
Creating Various Sales Channels
As you want to scale your business up, it’s better to use various sales channels to attract a bigger customer base. A very good way to start is by selling on Amazon. They are the most popular online marketplace right now. As most of the buyers start their shopping with a Google search, you should not skip Google shopping.
If you follow the suggestions mentioned above, you would be able to create a sustainable business growth strategy for your e-commerce. Having said that, make sure to experiment with new things. Who can say, you might discover some new approach that might work only for you.