The e-commerce business is one of the most competitive industries where everyone is trying to get more market share. So, in this competitive industry, if you don’t follow the right strategy, you can’t sustain your business.
Suppose your online store doesn't sell unique products. In that case, you usually have to change the game by following other avenues so that customers find your online store differentiated from others.
In this article, we will review seven surprising ways to differentiate your online store.
1. Deal with shopping cart abandonment
Online shopping cart abandonment means when a customer goes through the checkout process to purchase products but fails to complete the process for several reasons.
For example, the reasons could be high shipping and delivery charges, too many information requirements or forced registration, slow website loading, etc. You can use a proactive chat option as a simple way to allow customers to participate.
2. Build a unique brand
It would help if you used a unique brand so that customers could easily remember your company. Your brand might carry your culture, values, voice, and even positioning. Thus, it's essential to use a unique brand to differentiate your store.
3. Attractive product images and descriptions
It is an image that can be considered the single most important thing for selling your product online. But with the pictures, you also have to add product descriptions. No one wants to buy products just by seeing images without product descriptions.
Both images and product descriptions are important for increasing the sales of your product. But keep in mind that you must ensure high-quality images and content to give your brand a voice and attract customers.
4. Competitive Price Point
One of the most influential factors in customers' purchase decisions is price. Compared to other competitors, the high price of the products can alienate shoppers from your e-commerce store. If you use Shopify or Shoplazza for your website, visitors tend to compare the price with Amazon or eBay. On the contrary, excessive discount offers can also cause you to lose out on your profit.
If consumers get more value from your products than competitors’, you can set premium prices. If the products are the same, you should try to set the product price at a lower level than the competitors'.
If the product prices are high, you should mark out specific details of the products. Besides, you should also explain why their prices are relatively higher than the competitors'. Consumers will be more confident when they buy the products, which will undoubtedly help draw customers' attention to your site.
5. Run a referral program
To build good relationships with customers, you may offer a referral program that could be as simple as giving rewards to customers for referrals on social media or putting the referral program details on your site's main page to let the visitors know about it.
A referral program might be a valuable way to introduce your brand to new customers. According to a statistic, most people trust recommendations that friends or family members give to buy products online.
6. Set up a Loyalty Program
A loyalty program is also one of the most critical factors in distinguishing your store from the competition. According to a study, almost 75% of customers favor a brand if it's part of a loyalty program, and more than 70% of customers recommend the brand if it's part of a good loyalty program.
When consumers get rewards while they buy (even if you reward them with a small thing), it will have a long-term effect on the consumers' minds and encourage them to keep shopping at your online store for the long term.
You can provide exclusive offers to the "members only" or the "new members," so everyone would like to get a membership to your site. Or you can reward them with a bit of a gift on their 10th order. This system will help you compete with your competitors.
7. Build a Mobile App
According to research, in the United States, 7.3% of total retail sales and 53% of all e-commerce sales came from mobile devices. Another study shows that customers spend over 50% of their digital time on mobile apps compared to websites.
Therefore, a mobile app is vital to helping your website stand out. Besides, you must ensure your site is mobile-friendly.
After all, we have tried to find the most proven ways to differentiate your online store. Apply these surprising ways to stay ahead of the competition in the e-commerce world. Hopefully, you will be able to make your site stand out from the competitors.
(Contributed by Sohel Rana & Hermes Fang)