Remember when the internet was first invented? Remember how the world immediately deemed it as a “fad” and wouldn’t last more than a few years? Even the inventor of the ethernet cable (the cable we use to connect to the net) once predicted that the internet would collapse in 1996.
And then the internet took off; it became not only the thing that our everyday lives all but revolve around. But it becomes an innovation that lifted hundreds of millions of people out of poverty.
Boy, did the prognosticators get that one wrong?
Fast forward several years later, and internet detractors were still coming out in droves, saying that the old way will prevail (including one individual who predicted that e-commerce would never be a thing).
Until it did, now e-commerce is the foundation of almost every company out there, and for the successful companies; it’s nothing less than a necessity.
All of these failed prognosticators taught me one valuable lesson. When it comes to the internet, never poo-poo innovations. Instead, jump at the opportunity to utilize them. Sure, it won’t always work out, but when it does, you’ll be light years ahead of the competition.
That statement rings true when it comes to e-commerce as well. And with e-commerce becoming more competitive by the minute, you’re going to HAVE to think outside the box. Here are some ways that you can pummel your competition into submission.
I listen to a gentleman by the name Gary Vaynerchuk a lot. He’s a highly successful entrepreneur who now goes around the world helping other young entrepreneurs. Gary has a lot of rules, but one that he stresses with regularity is one he calls “jab jab jab, right hook.” It’s his metaphor for giving more than asking.
Of course, this doesn’t mean to give away product. Otherwise, you’d be out of business. But the philosophy remains the same. Rather than asking potential clients to purchase your product (especially if it doesn’t already have a lot of steam behind it), give them a sample of it. Eventually, if you have a quality product, at a fair price, they will come to purchase it.
Did you know in the last five years 46% of Americans have been victims of credit card fraud? I was appalled to see such a high number, and apparently, consumers were too. In today’s privacy-conscious climate, consumers are becoming increasingly wary about the websites they frequent and how that website handles privacy.
So why not show them you care, by letting them know their privacy is important to you the moment they log into your site. Place a security logo on the site where it can be proudly displayed in the address bar.
Of course, in business, ethics is of the utmost importance, so it should go without saying. Do not put this security tag on there if you aren’t affiliated with one of the many internet security providers. If you are looking for an internet security provider, there are plenty to choose from, and it’ll go a long way towards keeping your customers safe when purchasing on your website.
We’re talking about your physical movement here, or even how fast you can adjust to changes. Although, that is an indispensable quality in a company.
Did you know millennials shop on mobile phones more than they do at brick and mortar shops? Yeah, 63% of millennials are more apt to shop on your website than to walk into your store. Not to mention, in 2018 52.2% of all internet traffic was from mobile devices. If you’re not taking advantage of that, then it’s time you get on the ball.
Be sure that you are optimizing your website for mobile use and not just desktops. To be honest, it’s getting to the point, that business owners may actually be better of putting more emphasis on optimizing for mobile than desktops. And if you have the resources, you should think about developing a mobile app.
There was once a time that I rejected the idea of mobile apps. My thought was, “why would I use an app when I can just go to the website.” oh the naivety. But things have changed since then.
Over 78% of mobile users would rather access an app than a website because it is streamlined, easier to navigate, and faster to get access. Oh, and just under 20% of all online retail sales were made from in-app purchase last year. That means developing an app could potentially increase sales by 20%. That kind of growth would have your stock skyrocketing.
Some other incredible benefits that an app can provide a company are; lowest cart abandonment rate, 50% chance that users return in the next 30 days. Best of all, you can use push notifications to notify app users when items they might like are on sale.
Apps are 2019’s version of window shopping. And we all know window shopping turns into actual shopping. I’ve purchased plenty of shoes just because I saw them displayed at the store’s front window.
There is one form of technology that far too few people seem to understand or even know about. But if you’re primarily a b2b company, and want to see your profits rise exponentially, then this is something that you desperately need to implement.
PunchOut catalogs work by placing all of the products you sell in one easy to manage catalog. This means that rather than your clients have to search through multiple hosted catalogs from each of their vendors just to find one item, they can simply look in one place and get what they need. As you can imagine, this is a huge time saver.
Because purchasing from hosted catalogs is so arduous, large corporations won’t even entertain a supplier that doesn’t already offer this technology to them. Not only does this mean that you aren’t getting as many clients as you could, but it also means that you may be missing out on an opportunity of a lifetime. However, implementing these now could mean that you corner the market and gobble up all the big fish.
Because this is such a relatively young technology, they can be difficult to implement. And if you don’t implement these correctly, it could backfire.
Thankfully, there are several companies out there like PunchOut Catalogs SGT who specialize in building, implementing, and maintaining these catalogs for you. That way you can stick to the job that gets you paid!
Melissa Stanley is a veteran tech writer and editor who has worked in several eCommerce companies so far. She has been covering technology online for over five years. She is Client Service Manager of PCGT – PunchOut Catalogs.