The answer to avoid being squashed by the competition? Be better than them. And here’s how.
When your ecommerce business operates in a competitive space, it’s important to stay ahead of your peers. This starts by knowing who your competition is, and what they do differently to you.
There are also other techniques to get ahead – here are five tips to be better:
1. Better sales
Better sales means understanding your customers – what are they looking for from your ecommerce site? By giving them what they want, you are more likely to create repeat business.
But while it’s important to focus on strong sales, having better sales is not the only factor to consider when dealing with the competition. Better sales gives you more cash, which enables you do improve your business. But your business needs you to focus on other areas if you want to avoid being crushed.
2. Better customer service
This is an easy win: by offering better customer service, you can gain a significant advantage on the competition. Better customer service means happier customers, who will buy more from you, more regularly. And don’t forget how word spreads: keep your customers happy and they will become your brand ambassadors.
3. Better products
It isn’t always easy to find unique, awesome products, but it’s worth the effort trying to find them. Spend time to find a good partner or wholesaler that can give you access to cheaper distribution channels.
If your space does not give you the scope to find unique products, then focus on what services you can offer that your competitors do not have.
4. Better purchasing
In the same vein, to beat the competition, you need the best supply chain. This means maintaining strong relationships with your suppliers and wholesalers, so that you can keep selling the best products at an attractive rate.
5. Better marketing
What does the competition do to lure prospective customers in? Do they offer special deals? Do they offer free shipping? Discounts for regular shoppers? You can play this game too, but be careful to keep you eye on the big prize: don’t enter into a price war with the competition, or you will both suffer.
What you can do is find ways to attract new business – don’t be scared to try out different marketing techniques. See what works best for you to stay ahead of the competition.
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