The dictionary defines a marketplace as any place wherever buyers and sellers meet. It is where supply meets demand; where production meets consumption. Economists will argue incessantly about stimulus. Does supply create demand or does demand bring about supply? Maybe it is simply the interaction of both of them. Who knows? Who cares?
Mobile is now the first screen
What we do know is that what probably started as barter between two persons is now an immense global marketplace involving trillions of daily exchanges between people who will never know each other and will certainly never meet, or necessarily wish to. Producing supply to satisfy demand is increasingly complex. The essential truth is that as the global marketplace expands in the virtual world of Ecommerce, somebody needs to make it simpler. Somebody needs to make it easier for people who produce to find those whose only thought is to consume.
According to the recent statistics, Mobile Marketing Statistics 2015, mobile media has considerably surpassed desktop media, which clearly shows you what to invest in.
Not online? Your businesses will lose profit
Nowadays, your business must have a website or its own app to be accessible to a larger number of consumers. Even if it is a niche or unique product, it still requires online advertisement and representation. Acceleration of a business arises a legitimate question: “how to increase sales on ecommerce site”?
Online business vs. offline business
We put a high value on instant gratification and convenience and are prepared to pay for it. Ecommerce allows us to buy everything effortlessly. As a result, we are beginning to choose couch shopping more and more often. We seldom go shopping impulsively or discover the product by accident. We will go online and gather all possible information, for example about the mobile phone that we are looking for, before we drop by the local shop to pick them up later. We have got into the habit of doing even window shopping online. Consequently, for a business to be known and popular, it has to go and stay online. There are several principles how to increase ecommerce sales.
Without being online, businesses lose profit
Reach your audience
Regular customers are the pillars of the business: they keep your business afloat and help it withstand economic downturns. You rely on them and they value you – a happy relationship. You learn to trust each other. However, tastes and preferences change: but once your loyal customer uses your competitor's services, rather than cling to them, try to attract a new clientele – let others learn about you and reach you online. You will not only be able to preserve the business but also to thrive.
Brand awareness: a small case study
My acquaintances own a flowers nursery in a small village in Germany, bordering the Netherlands. It has been a family business for two generations. They grow an astounding variety of tulips, dahlias, sunflowers etc. Once when I asked them why they don't have a catalogue with the flowers on the Internet, they replied it was unnecessary as they have already enough customers.
I didn't make any attempt to change their mind but I caught myself thinking they would be making much more money, if they had a better visibility online. They have a website with only one article giving an overview of their business. If they had their own app or more informative website, they could get not only on the national market, but easily reach Dutch market as well. They seem satisfied but one wonders how vulnerable their business would become in the future against serious competition online. Time will tell, however no one keeps in a secret how to increase sales in ecommerce.
Be fiercely competitive. Be in the moment. Be successful
Yes, keeping your goods and services in constant demand is challenging, yet feasible.
Be one step ahead to get a better margin. Don’t just advertise your product but also highlight its advantages in contrast with similar others.
Offer discounts whenever possible and email your customers with this news: Hurry up!! We are giving you a 20% discount only today.
Encourage your customers to subscribe for your updates and follow you on social networks. This is a prominent method how to increase ecommerce sales.
Invite the customers to give feedback on your services and goods.
In my experience, product reviews can boost sales as well as a pricey advertising campaign.
Owing to the development of mobile app, there are now more tactics available for you to make your business flourish.
Alibaba, with its revenue of nearly $ 3 billion, is a role model for those who question this advice. They have been earning trust by adjusting their service to the consumers' needs. It is a platform for retail that brings buyers and sellers together, provides product reviews, convenient banking services (Alipay), shipment, etc.
When Mr Ma discovered that purchases on mobile phones rocketed, he ordered his developers to focus on mobile development. According to CNBC, the number of their mobile monthly active users soared 77 percent to 289 million.
Mobile media has become so closely intertwined in our lives that for a business to ignore it is a serious risk. However, the real lesson here is for developers to engage with these small businesses and to create the opportunities for their owners to thrive. Growing and selling flowers may seem a million miles away from the work of a developer, but clearly a strong knowledge base of a business’s actual activity can reap dividends.