What are the digital marketing services?
Let’s talk about some of the digital marketing I’ve done in consultation with successful e-commerce businesses. The most important driver of e-commerce success is the value proposition.
Does E-commerce have a strong value proposition?
The answer is yes.
E-commerce is very important, as it gives people a wide variety of choices, especially for consumers living in Tier II and Tier III cities. Where they do not have access to a large number of trades; in such situations, e-commerce comes to the rescue.
Level playing field:
E-commerce creates a level playing field because it does not distinguish between customers who have deep pockets, and who is dressed very elegantly or smartly when they are in someone’s showroom, who come from a Tier III town or rural background.
E-commerce is also completely transparent about pricing. Because prices are clearly stated, there is no room for hiccups or conversations, which brings peace of mind to consumers.
The driver of growth for e-commerce in 2019 will be B2B, not B2C. Did you know that 68% of the world’s business is B2B, and only 32% is B2C? Customers in B2B are traditionally your retailer or wholesaler. They are traditional with less technology, but does B2B e-commerce offer any benefits? Yes, of course.
E-commerce can create better operational efficiency in business. A lot of e-commerce companies can’t grow, because B2B has people’s trust issues, because the ticket size is big, and it has a high level of stain. So people want to negotiate. E-commerce companies need to build trust in their customers.
They need to provide a social media platform, in which users can chat, chat, and negotiate in B2B. E-commerce transactions are largely based on credit. Sellers are not accustomed to buying on explicit payments.
So can B2B Internet companies measure consumer credibility based on transactions on the platform? So artificial intelligence and machine learning and big data can play a role here.
Long Term Vision:
E-commerce needs a long-term vision. E-commerce is not for short-term marketers. Initially, it’s all about deep discounts, and it’s about thin margins because the market isn’t ready to pay for convenience and shipping, which means the marketer has to incur some losses.
He can get financial support from VC money. This means that there will be some players who will dominate the market, because you can’t make a lot of money in a small deal. But what you can do is make a little money on a large amount of transactions.
In the future of e-commerce, companies will be highly tech-oriented, so you will need a solid recommendation engine, which will evaluate customers’ past purchasing behavior, and show them similar products. Internal search should be very powerful. So that customers can find what they are looking for.
The next key to success in the e-commerce is customer focus. You have to be very obsessed with customer satisfaction. So you should have an easy return policy, receive a small margin, deliver fast. Another related question is, should you have a market, or should you go for the inventory model? The marketplace is full of challenges.
In the marketplace, customer satisfaction is low, as you are primarily acting as an interface between the seller who has the trade or the inventory and the buyer. There is no absolute control over the quality of the material, no control over the process, which makes it very difficult to keep the customer satisfied. In addition, suppliers are highly disorganized, leading to late delivery and delivery.