nline companies are going to be the unlikely winners – they will be catering to a large number of buyers who have nowhere else left to go. What are the possible steps they could take now to build revenues? It appears that some business strategy cornerstones still holds true.
Earning the buyer's loyalty is one such cornerstone – This is only achieved when buyers trust a brand and are enticed to buy from it. In the current situation, online brands have to exceed expectations when earning trust.
- Make it easier for stressed-out consumers to move from offline to online. This can be done by introducing more payment options or improve payment portals already present. The same principle can be applied to other parts of a site like streamlining categories so that buyers find what they need. This is useful when buyers are purchasing certain items – like groceries – online for the first time.
- Demand has surged and buyers might not get the product they require. Goods that are in such high demand, should have accurate stock information visible. One big alteration that popular online grocers are doing is listing out the number of units available for a certain item.
- Of course, the biggest issue now is ensuring that consumer gets the goods they’ve ordered for. E-commerce companies can communicate realistic delivery estimates or dates. It also includes updating the ads, notifications to reflect the same.
- Offering more loyalty benefits that make buyers comfortable. They aren’t going to be price sensitive but can still make use of promotions, discounts, etc. And there can be several options for them to choose from – subscriptions, special promos, free shipping, easier returns, loyalty points. The result is a loyal buyer and possible repeat business.
- Extra focus on customer care by addressing all concerns, issues, queries, and create a positive image this way.
These are just a few ways in which e-commerce brands are adapting to the pandemic. It’s a short term move and revenues are slow but bearable. The real race will start once the lockdown is over when they will need to recover from the losses incurred as a result of COVID-19 impacts.
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