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Effective Digital Marketing Strategies for eCommerce

digital

Effective Digital Marketing Strategies for eCommerce

Running an eCommerce business needs extra attention and energy towards your marketing strategies. This is because apart from targeting new traffic to your platforms, you are also working to ensure that you entice existing customers to keep coming back to your store.

Even though we live in a digital age, there are still many challenges that eCommerce sites undergo. As the competition remains unforgivingly fierce with millions of shopping options, it becomes a lot harder to convince online shoppers to purchase products from you.

There have also been various developments in the eCommerce world, thanks to search engine giants such as Google. This is because people can easily check out the prices of products much quicker, compare the goods with those of competitors, and they can decide on who to settle on, even before approaching your site.

To ensure that you remain relevant and close more leads, you may need to relook your marketing efforts and stay ahead of the trends. Here are five effective digital marketing strategies for eCommerce sites that will ensure you capture your share in the $2.8 trillion annual online sales.

1. Define your sales cycle

Before you embark on any digital marketing campaigns and even before writing your business plan, the first thing you’ll always hear is that you should understand your audience. In the eCommerce world, going in without defining your user personas would be heading for doom, as the chances of your business failing are pretty high.

Every business is unique, and therefore, you ought to define your sales cycle before launching any marketing strategies. In essence, you need to know how long it takes for a customer to make a purchase on your website. Learn their journey and understand how they move through your sales process. This is the only way you’ll be able to come up with relevant eCommerce marketing strategies that will actually work.

Without a clear understanding of how long it takes for a customer to complete the entire sales cycle, you will find it a little more difficult, trying to pinpoint the areas of improvement and what platforms you need to focus on the most.

Furthermore, with such information, you are also able to know how to target and qualify leads, how to move them onto the next stage of the sales funnel, and what needs to be done to keep them coming back. Fortunately, all these can be done on a trial and error basis so you don’t have to be perfect with your first findings.

2. Optimize your checkout process

One of the biggest mistakes made by eCommerce business owners is the failure to have a seamless checkout process. Getting your prospects to the checkout page takes a lot of convincing and they are satisfied that your products would actually help them solve their pain points.

However, if your checkout process isn’t smooth, then you may end up noticing a high bounce rate emanating from your checkout page.

Ensure that all actions and buttons are clearly visible and that the visitor knows exactly what to do after they have added their preferred products to the cart. There are some methods that you can easily learn by registering to some of the best distance learning platforms, and get to know the different ways you can optimize your checkout page for higher conversions.

3. Provide helpful product descriptions

Having clear product descriptions will help a prospect throughout their sales cycle. They’ll be in a better position to understand exactly what the product is all about and make a decision if it would be helpful to them.

As for the seller, you will gain customer trust if you know how to correctly label your product. This will establish you as an authority, which can boost the customer’s trust in you.

Furthermore, apart from helping to convince your customers, having clear product descriptions can help your site even further through Search Engine Optimization (SEO). By using the right keywords within your product descriptions, search engine crawlers would be able to rank your page as an authority site, helping you to appear on the first page of the Search Engine Result Pages (SERPs). This will ultimately enable you to land on more leads and conversions.

4. Invest in retargeting

The hard truth is that 98% of website visitors do not make a purchase on their first visit. Most of them will be window shopping on your site, or maybe trying to compare you with a competitor. Another batch of individuals would actually add the items to the cart, and leave it half-way, even before they proceed to the checkout page.

If this is the case, you need to invest in retargeting marketing strategies. With this type of marketing, whenever someone visits your website and fails to make a purchase, and you could check on your dashboard that they were interested in a particular product, you reach out to them using other means.

For starters, you can use retargeting ads on other websites that the prospect may visit and bring to their attention your deals and offers on the specific product. Furthermore, if they had subscribed to your website, or had put in their email addresses, you can use these details to reach out to them and offer a personalized offer. By doing this, they will feel appreciated and can end up making the purchase from you.

5. Boost product visualization

People love what they see and if you’re an eCommerce business site owner, this is one of the first things you need to understand. Although content is king, you should beware of the type of content to add to your website. Although blog posts will be a boosting factor, they are not the key selling points.

Ensure to invest more in having quality images of the products you wish to sell. You should also use advanced methods such as 3D technology, where customers are able to view the product from all angles, including rotating 360°. One company, Fourth Source, has recorded increased conversions and sales from 25% to 30% when they used 3D images over flat surface photos for their products.

Conclusion

Having a concrete eCommerce digital marketing strategy will not only be vital for your company’s success through increased sales, but will also ensure you remain relevant to the changing trends and stay ahead of the competition. These five tips are just a starting point for you to up your game and get a piece of this elusive market share.

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Lidia S. Hovhan is a part of Content and Marketing team at OmnicoreAgency. She contributes articles about how to integrate digital marketing strategy with traditional marketing to help business owners to meet their online goals. You can find really professional insights in her writings.

retail

The Demand Supply Chain: How to Win as the Bar Continues to Rise in the Retail Industry

The year 2020 was a year unlike any other, and supply chains were more front and center than ever before. This is especially true in the retail space, as a surge in ecommerce and pandemic-driven demand volatility increased the rate of change in an already rapidly evolving industry. For many, a complex global supply chain became even more challenging to navigate. As we kick off 2021, those complexities are still present, but with a new year comes new opportunities to innovate and address some of the biggest challenges for our retail and consumer packaged goods (CPG) customers, such as:

-Planning environments are complex and can lead to costly surplus Days of Inventory on Hand (DOH)

-There’s a desire to meet and exceed heightened consumer expectations

-Industry volatility and logistical complexity creates a risk of high on time in full (OTIF) fines

-Increased reliance on the transportation spot market due to industry planning uncertainty

-Transportation requests for proposal (RFPs) are labor-intensive and can be out of alignment with customer needs

Annual transportation RFPs can take up to half a year to conduct and can become quickly out of date. This challenge has become more prominent as market unpredictability has continued to disrupt these plans. There are two main variables to blame: Changes in demand or sales, and shifts in supply and demand in the transportation market. But those two functions only come together once a year, if ever—when bids are being prepared and shippers are trying to predict what they have to bid out. After that, they really don’t talk to each other.

When demand for a certain product explodes, you can overload the carrier who signed on for less. You start paying more immediately for backup carriers, or worse, pay much more if you go to the spot market to procure trucks.

Retail and CPG shippers need innovative solutions to help them overcome these challenges and succeed today and into the future.

This is why I am excited about C.H. Robinson’s recent partnership with SAS, a trusted analytics powerhouse, to bring end-to-end supply chain processes and technology solutions that connect demand and inventory planning data with procurement and transportation data, in real-time. This solution is delivered through a powerful combination of C.H. Robinson’s information advantage and technology built by and for supply chain experts, and SAS’ demand planning and forecasting technology and expertise.

We’ve joined forces to unify two functions that have often worked in autonomous siloes, demand planning, and transportation optimization. Our partnership creates a first-of-its-kind integration of demand planning data and real-time transportation data that will drive smarter, more agile supply chains.

Steering a supply chain from a centralized operation like this will allow companies more fluid adjustments in scheduling, transportation optimization, and responses to changing consumer demand while inventory is still moving on the ground.

Our retail and CPG customers, both at C.H. Robinson and SAS, look to us for cutting-edge solutions that will help them succeed in the marketplace. As we continue to listen to the pain points within the industry, we are working together to create solutions that will enable shippers to reduce inventory, improve service, increase savings, and gain efficiencies.

Reduce inventory

-Reduce inventory levels with a demand-powered supply chain. Carrying inventory is a major expense. Some safety stocks are needed when it isn’t possible to plan and adapt to changing conditions in real-time, which this solution now enables you to do.

Improve service

-Provide more predictability to carriers in real-time, letting them know what is changing in demand.

-Align the largest pool of reliable transportation capacity to the specific needs of your demand plan.

Increase savings

-Spend less on spot market procured freight, by allocating your freight the way carriers want it. In most of 2020, spot market rates were around 30% higher than the previous year, and are usually much higher, at times double, than contract planned rates.

-Reduce fines for late, missed, or incomplete deliveries which can be common in retail.

Gain efficiencies

-Spend less time on your annual procurement event by taking advantage of SAS’ and C.H. Robinson’s technology tools that help you rely less on the static annual plan.

We are just getting started. Today, our solutions are focused within the retail space, but we recognize there are opportunities to expand beyond that as other industries face similar challenges.

I am looking forward to continuing to partner with SAS to bring innovative solutions to the table that will help shippers overcome industry challenges.

If you are interested in learning more, you can view our recent press release. And, if you are ready to discuss these solutions, connect with our experts.

digital

The Road Towards Digital Payments During the Pandemic

The contactless payment market is estimated to surge during the global crises of the coronavirus disease owing to the need to maintain social distancing. Apart from this, the rise in technology, fast and easier payment methods, and network coverage have also impacted the contactless payment market during the pandemic.

‘Where did we come from and where are we going?’ is a famous line from Dan Brown’s book called ‘Origin’. This book signifies the importance of technology and its role in answering the question of ‘where are we going’. Digitization and technology will soon one day become the next element of planet earth. The roots of which have been planted in today’s time, especially in the Covid-19 pandemic. One important aspect of digitization is the economy and money transactions associated with it, paving way for the contactless payment market amidst the coronavirus pandemic.

What is Contactless Payment?

This is a secure method of payment that utilizes technologies like radio frequency identification (RFID) and near-field communication (NFC) for transactions. The name itself suggests that all forms of money exchanges will be carried out in a non-contact way. The only way to do that is by using digital methods of payments.

Some of the popular contactless payment methods are smartcards, credit/debit cards, Google pay, Apple Pay, and many more. Credit/debit cards are used with RFIDs, also called chip cards, that eliminates the necessity to swipe or enter a pin code. Contactless payment is not a new concept but its prominence has augmented due to the Covid-19 pandemic. For instance, in November 2018, RBI replaced all magnetic stripe-only cards to EMV chips and also started a second-factor authentication (PIN) for transactions up to INR 2,000/-.

How has Covid-19 Outbreak Impacted the Global Contactless Payment Market?

According to a report published by Research Dive, the global contactless payment market is anticipated to garner revenue of $20,340.3 million by 2026. The fear of getting infected has pushed people to opt for contactless payment, for instance, almost 79% of the MasterCard users preferred contactless payments during the pandemic period. This is a sign that the contactless payment market has enhanced during the Covid-19 crisis. The idea to turn India into a cashless economy post demonetization has been augmented in 2020.

The traditional methods of payment are fading away in today’s time; however, the geriatric population and the marginalized section of the society are still lagging in digital payment methods. In the current situation, it is essential to maintain distance and avoid infection from spreading. According to WHO, viruses can stay on cash for several days after exposure; thus contactless payment seems a better choice for now.

Apart from this, there was a 40% ‘year-to-year’ rise in contactless payment globally from January to March 2020. In fact, countries like Germany and China also experienced growth in digital payments during the pandemic. The major driving factors responsible for the contactless payment market growth are the usage of mobile phones and strong internet connectivity.

Online transactions can be risky due to cyber thefts, frauds, and scams but contactless payment has minimized these dangers by using magnetic strips at the back of the cards and all the information is automatically encrypted during transactions. Apart from this, biometrics usages such as iris recognition and transaction limits prevent fraud as well.

The contactless payment market is in demand due to advance technological changes such as artificial intelligence-based voice payments and wireless technology. These technologies directly connect debit/credit cards to fitness trackers, phones, and smartwatches for payments via Google pay or Apple pay.

Several countries are applying innovative strategies for boosting contactless payment, for example, AIB bank of Ireland suspended all charges on contactless payments for encouraging people to take up this mode of payment. Furthermore, retailers have reported a 69% rise in contactless payment since January 2020 due to an increase in online orders as per a study conducted by Forrester Research.

Social distancing norms are the only reason behind the growth of the contactless payment market that ascertains fast and simple transactions.

Future Scope of the Contactless Payment Market:

The contactless payment market will continue to grow in the post-pandemic world as well due to strategies, product launches, and collaborations applied by the market players. For instance, the partnership of SBI and Titan has devised contactless payment services via watches called Titan pay. This mode of payment rules out the option of card swiping or inserting pins and is available for all the people using MasterCard.

Another example of fruitful collaboration is that of Samsung and Curve that have launched Samsung pay in the market. This mode of transaction provides features like peer-to-peer payments, notifications on money spent, and switch payment sources retroactivity.

It’s pretty clear from the above deductions that the Covid-19 pandemic will leave a long-lasting impact on the contactless payment market, economy, and banking sectors.

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Chaitali Avadhani is currently working in the content writing industry and has a Master’s degree in journalism and mass communications from Savitribai Phule Pune University. She is naturally attracted towards writing and is harboring experiences in the same field. Apart from this, she is a certified mountaineer and has passed out from Himalayan Mountaineering Institute, Darjeeling. Outside the office she is actively engaged in fitness activities such as running, cycling, and trekking.

technology

5 Ways Technology is Changing E-commerce

Above everything else, the modern consumer is after convenience and a good experience when it comes to shopping for items. The busy schedules in an extremely fast-paced world don’t allow much time to spare for shopping. Thankfully, e-commerce has made it as easy as a few clicks. Even better, consumers can now choose anything they want from a worldwide pool of retailers regardless of where they are.

On the other hand, retailers who understand this have come out in big numbers to occupy this space through the opening of e-commerce stores. This is also an opportunity for them to cast their nets wider as well as offer their consumers a more personalized experience.

However, the birth of e-commerce would never have been realized if it weren’t for technology. Even today, technology remains the fuel behind the rising trend of e-commerce. And, as technology advances, so do the offerings to both the consumer and the retailer keep getting better.

Here are 5 ways technology is revolutionizing e-commerce.

1. Different payment options

Safe types of payment methods have always been a concern with online shoppers. Most are wary of sharing sensitive information such as credit card data on websites that they don’t trust. This coupled with the lack of a preferred method of payment has been the number one cause for cart abandonment.

Technology has come a long way to mitigate this by ensuring a secure and easy checkout process for consumers. Today, credit card payment isn’t the only way to pay for goods or services online. Other options such as eWallets, Google pay, Bitcoins among others have come to provide the safe and convenient online shoppers have been looking for.

2. Easier digital files sales

The good thing with e-commerce is that online retailers can sell practically anything, eliminating the need for brick and mortar stores. One of the biggest beneficiaries of e-commerce is people who sell digital files such as Ebooks, music, artwork, online courses, and the like. It’s also worth mentioning that through the use of technology, e-commerce enterprises are also making use of click funnel plugins which enables the selling and delivery of various products online.

Technology has made it possible to showcase their talents and knowledge to a global audience. There is a rise in apps that make it possible to create, package, and upload their work for sale. Even better, technologies such as Dropbox make it possible to upload large files. For those selling multiple files in one purchase, zip files allow them to compress these files into a single one. This is advantageous as it reduces the webspace used. Additionally, it saves consumers a lot of time since they only need to download a single file. However, consumers will need a ZIP decompression tool to unzip files once they have downloaded them. Thankfully, this is readily available across many devices.

3. Chatbots

Now more than ever, there is a need to keep the consumers happy so that they grow to be loyal and repeat customers. One way to do this is through customer support and answering customers’ questions as and when they arise. However, this poses a challenge for e-commerce retailers since their customers are spread throughout the globe. The different time zones are one hurdle these retailers have to deal with.

With the invention of chatbots, however, this is a problem of the past. This technology mimics human interactions, answering customers’ questions around the clock.

4. Social shopping

Besides keeping people entertained, social media is playing an integral part in making purchasing decisions for most people. Scrolling through the major platforms, you are highly likely to meet people asking for recommendations on the best products and stores.

Businesses that understand the power of social media are taking advantage of the big crowds to bring attention to their businesses. For instance, most online businesses are advertising their apps and online stores on social media. On the other hand, major platforms such as Instagram and Facebook have now added features that allow consumers to shop for items within the platforms. If you intend to properly market your products, you have to make sure that your social media posts are optimized to appeal to your target audience visually.

5. Push notifications and apps

One of the biggest headaches for businesses is to be in the consumers’ minds even when they are not shopping. A few years ago, email notifications gave retailers a way to keep close contact with the consumers. Unfortunately, most of these promotion emails ended up in the spam folder most of the time.

Today, the average person spends a lot of time on the smartphone making push notifications hard to go unnoticed. In addition, the presence of apps in these smartphones is a constant reminder that the brand exists.

While doing business virtually can be convenient for both the consumer and retailer, it can be overwhelming as well. However, technology is making e-commerce stores find more efficient solutions. In addition, consumers are getting the service they want thanks to evolving technology. The two parties still stand to gain as more advancement keeps hitting the e-commerce world.

quarter

Tips and Tricks on Starting a Business This Quarter: Incfile’s Planning Guide

It may take years for you to develop a business idea and muster up the courage to launch. So when you are finally ready to launch your small business, you don’t want to delay the process any longer. If the time for you to start your business is now, in the fourth quarter of 2020, you may be hesitant at first since the fourth quarter technically is when most small businesses’ fiscal year ends.

However, there are plenty of reasons why you should start your business during this quarter, and we have some tips and tricks that will lead you to business launch success.

Q4 Business Launch Callouts

Most entrepreneurs use the end of the calendar year as the end of their fiscal year. This means that Q4 is spent tallying profits, looking over financial statements, calculating potential tax projections and wrapping up planning for the upcoming year. Therefore, Q4 may not be the most desirable or popular time to start a business.

However, there are plenty of profits to be had during this season. Due to the holidays, consumers are willing to spend money on gifts and experiences. The increased sales potential during this season may help your business get off to a strong start. Holiday retail sales are likely to increase between 1 percent and 1.5 percent, according to Deloitte’s annual holiday retail forecast. During the same period last year, sales grew 4.1 percent.

However, Deloitte also forecasts that ecommerce sales will grow by 25 percent to 35 percent, year-over-year, during the 2020–2021 holiday season, compared to a 14.7 percent increase in 2019. And online holiday sales are expected to generate $182 billion to $196 billion.

In comparison to Q3 of 2020, consumers may have pulled back on their retail spending due to financial burdens caused by COVID-19. Especially since in August, 13.6 million people in the U.S. were unemployed, according to the U.S. Bureau of Labor Statistics.

During Q4, consumers are looking to spend their money during this holiday season. With an increase in the number of consumers looking for services online or online shopping this year due to COVID-19, more traffic online means you’ll have a great audience for your online ads. This makes it a great time to test out your online marketing tactics and strategy.

One thing to consider as a new business owner during this season is that more established businesses already understand that Q4 is a hot time for sales due to the holiday season. They may be charging hard and spending quite the penny to capture consumers during this time.

Also, since Q4 sales tend to trend the highest out of all the quarters, launching your business in Q4 gives you no other timeframe to compare against. This can give you a false sense of how your business is going to trend in other quarters or you may see a significant drop in sales during Q1 and Q2. Being realistic and conservative about your potential revenue during Q1 through Q3 will help you understand your business’s actual potential.

Launching Your Business This Quarter

There are plenty of things you can do to set your business up for success if you are not shied away from launching your business in Q4. Here are some tips and tricks if you are ready to take the plunge this season:

Utilize resources. Entrepreneurship can seem daunting but don’t worry. There are plenty of resources to help you start your business successfully. Incfile’s in-depth “Start a Business” guides help you research everything you need to do before your doors open. We’ve researched key areas for your industry, from market data, customer needs and business taxes, to setting up your business, understanding regulations and laws and choosing the correct business entity. We also have a handy “Start Your Business” checklist, which will walk you through the steps needed to get off the ground and running.

Focus on “hot” online business ideas. One business that we anticipate being hot during Q4 is an Amazon business. If you want to be successful on Amazon, especially during this busy holiday season, finding the right products and buyers is absolutely essential. Due to the success of the platform, there is a vast amount of competition across almost every niche and product. The biggest factors that will decide your success are choosing the right product, understanding the demand for that product and selling it at a profit. An Etsy business may also be a hot business since consumers turn to this platform during this season for special gifts. You’ll need a strong, robust plan for your new business. There’s plenty of competition in the Etsy marketplace, especially in Q4, so having a novel approach, creating original designs and getting proper business discipline in place is essential.

Get your website, social media and marketing plan in order. With shoppers online and poised to make holiday sales, getting a website and social media accounts ready to go will be necessary for helping you market to your potential new customers. Create a content marketing strategy for your website that involves SEO and special offers for your visitors.

Create a legal business entity. No matter what business idea you go with, forming a business, such as an LLC or S Corp, is a smart move. This will give you a professional face forward to clients and also provide separation of your personal identity and finances from those of your business. If you need to open a business checking account, credit card or loan, banks are more likely to see you as a legitimate business with an LLC or S Corp designation.

If you are ready to launch your business in Q4, go for it. Don’t let the increased competition during this time frame scare you away from building your dream. As long as you do your research, approach with level-headedness and commit the time, money and energy into your new business, you will hopefully see success this season.

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Dustin Ray leads business development and growth initiatives at Incfile, a national incorporation service company specializing in business formation and small business services. Founded in 2004, Incfile has assisted in the formation of more than 250,000 corporations and LLCs.​

logistics

Logistics in the eCommerce-Era

Plans of business expansions and holiday vacations have been shattered and ruined by the pandemic. Memories of Christmas dinner and going to the local store without precautions are engrained in our minds. The world’s behavior has shifted to adapt to the consequences of a pandemic.

Many people are experiencing losses in business, losing employment and many other effects. The global ecommerce has over 3.5 billion registered users in 2020, providing many companies to grow in a new business concept without the brick and mortar store, and additional office workers. Ecommerce business has allowed supporting businesses to grow, in particular, the logistics industry.

As one of the oldest and largest industries, logistics is predominantly owned and operated by the older generation who has operated businesses with the same routine and procedures. Many logistics companies are still practicing the traditional method of doing business, with back and forth communication to negotiate and coordinate detailed requirements. However, consumers in ecommerce era are now demanding faster decision-making and transparency. With the right technological solution to handle multiple procedures, many important tasks such as administration, operations coordination, financial background check and verification, etc. can now be handled by complex computation algorithms instead of humans.

Companies can reduce miscommunication, mishandling, minimize delinquent accounts and improve response of customer service levels by creating a logistics technology that can perform job functions, such as Customs Clearance Procedures, Sales-Marketing Cross Promotion, Driver Instruction, and Operation Procedures, Warehouse and Airline Operation Procedures, Invoice and payment reminder, and others. With one platform, all of these features to help companies consolidate all logistics functions in one place.

The logistics industry involves many various parties in running its operation such as Shipper, Domestic and International Transport, Consignee, Customs officers, Warehouse Personnel, Accounting and others. This is a full operation which needs to be administered and monitored in order to be executed properly. With the help of technology algorithm, multiple information will be able to be distributed and delivered to the right operator’s smartphone device and will speed up notifications, operations, and processes.

Another key feature is the Face/Vehicle identification processes, allowing convenience to Shippers and Transporters to better monitor pick-up and drop-offs of shipments. With integrated technology features, the logistics industry will see improved service levels and the benefits of transparent cost structures to each transaction.

The pandemic has accelerated the pace of logistics digital transformation. Many new changes are seen as a result of the world crisis, including an increase in ecommerce businesses, remote work, online mobile orders and deliveries, and other changes. In order to survive as a business that has shifted away from traditional concepts, it is important to minimize costs and make smart decisions.

For the logistics industry, most infrastructure job functions and operation administration tasks can be performed through a smart algorithm platform. With an all-in-one platform, information can be accessed on mobile devices or desktops and is available on all operating systems. Logistics in technology platforms will allow better communication, organization, transparency, and companies will benefit by being more cost-efficient, connected, and productive.

business

How To Grow Your Business After COVID-19

COVID-19 has upset economic forecasts and forced many companies worldwide to rethink their business strategy plan for the future. Finding success during this unprecedented time has been a painful process for many companies. Although the pandemic has brought new hurdles to businesses across the globe, it has also created loads of opportunities for retailers. A change in consumer behavior means more people are turning to online marketplaces for their shopping, which has redefined the position of ecommerce and online businesses in the retail sector. But this positive trend isn’t an assurance for future success. You need to develop a plan that intends the growth of your ecommerce business, in a post-pandemic context. Here are a few helpful tips:

1. Revise Your Current Marketing Strategy

Assess your current messaging process to establish whether you’re relaying the right message and positioning your business in the right way to succeed after the pandemic. This step will help you identify and get rid of marketing materials that don’t resonate with the current economic and social situation. Shun sending emails, updating on social media, or engaging in any marketing campaign that may seem insensitive.

Adjust your brand’s messaging to be in line with the unique needs and demands of your customers. Your message should show to both existing and potential customers the value they’ll get from buying your products or services. Offer appropriate, concise, and meaningful communication. Be sure to address the COVID-19 impacts, and the steps that you’re taking to bounce back big time. If you’re thinking about marketing your products to overseas consumers, consider entering a strategic partnership with a professional globalization partner. Optimizing your Global PEO strategy will always benefit your business’s revenues and will help you smoothly navigate your workforce abroad right after the pandemic.

2. Provide Unparalleled Digital Customer Experience

In a rapidly expanding ecommerce landscape where many sellers are providing the same products and services, offering better digital customer experience can set your business apart from your competitors. Some of the things that can help you deliver unrivaled digital customer experience include a smart and user-friendly interface, excellent support, efficient payment options, and the right technology infrastructure.

Poor networks and lack of strong data protection measures can easily damage an otherwise well-built customer experience. Websites and payment portals with poor loading speeds will drive customers away. Consumers will also avoid companies that are vulnerable to hacking and security breaches. So laying a solid foundational infrastructure for your ecommerce business can help it grow in leaps and bounds in the future.

3. Optimize Your Website and Incorporate Live Chat

Ensure your website is as responsive as possible and accessible on a wide array of devices. Enhance your website’s speed and ensure it’s extremely easy to use no matter the device the user is using to view it. Around 48 percent of people use mobile devices to search for product information and to shop. On top of that, 47 percent of digital shoppers prefer a site with a load speed of below two seconds. Avoid driving leads to competitors by creating a highly responsive and user-friendly site.

When a consumer is gathering product information while shopping, they expect answers to their questions right away. If they can’t get a quick response, they’re likely to move on to another online store. Live chat is almost equivalent to in-store customer service due to its ability to bring the advantages of human interactions. It adds a human touch to digital shopping. Most importantly, it can be done remotely.

4. Build Reliable and Diversified Supply Chains

The pandemic has demonstrated that the global economy relies extremely on supply chains, which are susceptible to disruption. With the increasing attention to digital customer experiences, ecommerce and online businesses must invest time and effort into consistently delivering products to consumers if they want to survive after COVID-19. Supply chain interruption can result in shipping and manufacturing setbacks if a company lacks a flexible plan to address ongoing demand.

In addition to investing in excellent network uptime, ecommerce businesses should look for multiple options for obtaining materials and labor. The best way to do this is nurturing relationships with a variety of suppliers, all of whom should have the capacity to comply with the intricate compliance requirements of different sectors. A globalization partner can also connect you with the best local vendors who’ll help you reliably deliver your products to your global customers.

5. Prepare for Capacity Growth

Invest in adequate technology infrastructures, such as servers and bandwidth, to help you deal with more eCommerce traffic. Do a thorough review of your past performances, revised marketing strategy, and latest ecommerce trends to gauge the amount of traffic you’re likely to attract. This information will be important in a proper estimation of demand, and building the right capacity to exploit it.

Adopting cloud computing can help your business provide the best digital customer experience and react to ecommerce trends rapidly. It’s easy to upscale or downscale cloud computing capacity to handle growing demand quickly and effectively. For better control and flexibility, you can invest in a hybrid cloud infrastructure.

6. Be Transparent with Pricing and Consider Lowering Delivery Charges

Post-COVID-19, customer loyalty will be extremely crucial for your company. Consumers share their experiences, both positive and negative, on social media and review sites. Negative reviews can have a major negative impact on your profits margin. Avoid concealing extra fees or details that may come as an undesirable surprise during the final stages of finalizing a purchase.  Be transparent from the initial stages to keep customers pleased and loyal.

A large number of regular online shoppers end up making more purchases when shipping is free or considerably low. Lowering or doing away with delivery charges could result in a significant uptick in sales. If your current profit margins can’t accommodate this, consider value addition. You can give a discounted delivery on purchases exceeding a specific value.

Conclusion

The high ecommerce demand caused by the COVID-19 pandemic is likely to become permanent even after brick-mortar stores resume operation, especially if it follows the normal trends of online shopping habits. Companies that adapt quickly will stand a better chance at growing their businesses and expanding their profit margins by exploiting this great opportunity. The above 6 tips will help them grow their businesses even in post-pandemic circumstances.

hs code

HS Code Classification Freeway: Take Your Exit

Since the introduction of the Harmonized Tariff System (HTS or HS) in January of 1988 and its global implementation in following years (for example, in the U.S. on January 1, 1989), classifying products (i.e., associating the tangible product to its related HS code) has been a global party. Used on import (and export) declarations, HS codes identify the duty rates applicable to the specific goods, relate to statistics, give regulators an opportunity to link Anti-Dumping Duties (ADD) and Countervailing Duties (CVD) to products, dictate how to qualify for preferential treatment, and can govern document and license requirements. Quite a laundry list—and that makes the correct HS code classification an important piece of information, especially when using an incorrect classification can lead to penalties and delays upon import.

In the U.S., with roughly 16,000 HS codes to choose from, a customs ruling database for U.S. classifications only (CROSS) that is 206K classifications strong, ongoing changes to import tariffs, and a massive World Customs Organisation-initiated overhaul every five years (2022 here we come), it is no wonder classification is evergreen on trade compliance professionals’ list of concerns that demand a significant amount of attention.

To make it more complicated—although harmonized globally at the six-digit level, local authorities are allowed to differentiate down to a local nth digit (usually eight or 10) and have not been hesitant to do so. For example, the U.S. and European Union both support HS codes that have 10 digits, but few are the same or represent the same products. As import declarations are filed locally, this implies that, for each importing country, a different HS code must be identified and then maintained for any product shipped into that country. Do the math: a product catalog of 50,000 parts that ship to 50 different countries adds up to a solid 2.5 million classifications. Not something to maintain on the back of an envelope—unless it’s a really, really big one, erasers are cheap, and pencils are free.

With widely diverse needs for classification (e.g., from a B2C ecommerce shipment of two cotton T-shirts that need an HS code for a quick landed costs calculation, to raw materials and semi-finished products for manufacturers, to a single unique import of a $10 million factory engine), it is no surprise that any self-respecting Global Trade Management (GTM) solution or consultant is happy to assist companies in desperate need for those classifications. And no wonder that, since around 2000, numerous software companies have been trying to solve the mystery of auto-classification.

The diversity in the initial reason for classification comes with different parameters for success. For an ecommerce retailer, an autoclassification tool can solve many challenges (e.g., quick returns, high volume of items are immediately classified), but accuracy can be a challenge. A lack of accuracy is not something importers can afford when, for example, the classification determines whether the import is subject to ADD, is heavily restricted from a license perspective, or is subject to quotas. Basically, (auto-) classification is like a freeway and, depending on the exact needs, companies take a different exit.

There are three key components to a successful (auto-) classification project—other than, of course, the hopefully not superfluous statement that a decent amount of classification expertise comes in handy when either classifying or building a tool.

First, the quality of the product description. ‘Garbage in, garbage out’ also applies to classifying. Poor descriptions, lack of product detail, or even incorrect specifications will likely lead to an incorrect HS code with all related consequences. For quality descriptions, product managers or developers may get involved to provide the necessary technical detail as some classification decisions are made based on those elements.

Second, the classification logic. Whether the classification is assigned by a person or a tool, classification logic cannot lack, well, logic. This means many things: rules that decide to classify a piece of clothing that is not gender-specific as textiles for female or male (and the U.S. handles it differently from the EU); rules-based classification that guides the correct classification in a decision matrix fashion; the ability to ignore information not relevant to the classification (e.g., color); or the ability to observe characteristics that may be needed in one case but not for another (e.g., weight), including material compositions that are usually very important. The logic must also account for a way to ‘smart search’, or search across different references to generate results from, such as synonyms, natural language, industry jargon, and even from images. In addition, classification logic means integrating Artificial Intelligence (AI) and Machine Learning (ML) into the application so results can automatically improve, which enhances both the number of items classified and the quality of the classifications without human intervention.

Third, the classification reference database. The classification logic must look to match a description with an HS code not only by matching it with a ‘word in the tariff’ but also with the explanatory notes and, preferably, for broader context a natural language reference. This might include a shipping manifest reference or information gained via access to previous imports and classification repositories of identical products. Regardless, all types of references need to be reviewed before the final classification is determined. The logic is only as sound as the foundation on which it is built.

It’s important to keep in mind that references are also where, as an industry, companies should actually assist one another. Data privacy concerns notwithstanding, there must be a way to ‘crowd source’ references, which could reduce the efforts made and resources spent on classification in sensational fashion—engineering a classification freeway that is even more well-marked and efficient to traverse.

E-commerce

E-commerce Will Continue to Grow in Importance Post-COVID

As we enter the second half of 2020, the global COVID pandemic seems to be slowing down in some places and taking wing in others. Through all the waves, however, one thing is becoming certain: we still have quite a while to go until things go back to “normal.”

For businesses, this brings a host of challenges. Although there’s a necessity to flatten the curve, economies cannot halt for the next year or so until scientists (or nature) come up with a solution. Ultimately, this means that some form of adaptation is necessary.

E-commerce growth in 2020

One of the most significant changes that we saw in consumer shopping habits in 2020 was the rapid growth in popularity of e-commerce. Just a few months back, online shopping was considered unreliable by most individuals over 65. Almost overnight, however, it has become an essential practice. And some numbers testify to the growth of e-commerce.

For example, for Q1 2020, Amazon reported a 29% increase in North American and an 18% increase in worldwide sales. What is even more interesting is that grocery sales have grown a full 8%, compared to the slower growth of 1% during previous years.

On the whole, this is a clear indicator that e-commerce is gaining importance in today’s society. And not just in categories such as tech, apparel, or entertainment. It’s also becoming more relevant when it comes to purchasing health or other essential products. 

With this increased exposure, it’s also likely to expand further during the coming months and years. After all, it’s widely available, convenient, and no longer a foreign concept to most.

For business owners, this prospect of accelerated growth sends a clear message. If they haven’t already, now is the time to make e-commerce an integral part of their business operations.

Changing work models

Adapting to changes can be difficult. And many have already made leaps to keep their operations going during the pandemic. From working remotely to introducing online shopping, these changes have made it possible for small businesses to carry on during these trying times.

But the truth is, small businesses need to put much more effort into their e-commerce webshops to allow them to work with the same efficiency as physical businesses.

For Americans, spending habits have changed drastically since the beginning of the year. The retail industry has taken a big hit, as have companies working in travel, hospitality, entertainment, and even health.

Moreover, there is a tendency towards turning to local shops for a variety of products. Of course, this is a lifeline to small companies who have taken the biggest hit since March. But, it can also be bad news for those whose business models were developed to serve a more global market.

This is why businesses need to start acting now.

Following trends

Over the next period, e-commerce businesses will need to be much more vigilant about how they approach the future. 

First and foremost, they will need to employ risk-mitigating strategies, which will allow them to continue reaching customers. These include diversifying supply chains, implementing DTC models, relying on automation, as well as re-thinking the entire business process.

Furthermore, they’ll need to pay special attention to meeting customers’ needs. Basic conversion-boosting practices such as search engine optimization, decreasing page load times, improving copy and visuals, will all influence user experience, and thus sales and rankings.

One way to future-proof e-commerce businesses is to take a hands-on approach to mobile optimization. Right now, mobile shopping is witnessing growth, and this trend is only likely to continue. If they want to keep up, businesses should adjust early on by adopting mobile optimization tools that are popular among their users.

Moreover, with fewer opportunities to make sales face to face, web design should receive a higher amount of attention. Do you deal with products for which tactile or sensory information is crucial when it comes to sales? Consider whether the visual content on your pages could bridge the gap between online and in-person shopping experiences.

You can look for inspiration from companies that are managing to do this with success. For example, Zoma is an online mattress retailer. Their product collection pages were designed to clearly illustrate the differences between various types of mattresses. This allows users to find the product that will meet their needs with much less hassle.

source: zomasleep.com

Putting customers first

Providing more in-depth information about your products and keeping your website visitors’ needs in mind is a big step in the right direction. However, it’s not going to be enough.

In e-commerce, sales rely on impeccable user experience, so you need to come up with ways to provide it to your customers. Things like free shipping, 24/7 customer service, or high-quality instructional content all play a part in driving conversions.

For this reason, it’s not a bad idea to call attention to the changes you’re making to your service. Are your locations open? Are you taking orders? Are you taking any extra precautions to protect your buyers? It may be wise to use a popup or banner on your website’s homepage to communicate to customers about how COVID might be affecting your business. A good example of this is the banner shown at the top of supplement machine manufacturer LFA Capsule Fillers website.

source: lfpacapsulefillers.com

As the current situation unfolds, you may even want to create a separate section on your website, addressing your response to COVID. That’s what retailer Massimo Dutti did. On their dedicated COVID-19 page, they call attention to an extended returns period to 30 days, as well as free standard home delivery.

source: massimodutti.com

For business owners, these changes are quite small. Though they require an investment in terms of time, they do provide a high level of value to customers. Ultimately what they’re doing is establishing a greater sense of trust, which is critical for any business, but especially for those just now expanding into e-commerce. In the end, trust translates into customer loyalty (and higher conversion rates). 

Navigating uncertain terrain

With the global situation being unpredictable at the moment, consumer behavior is more volatile than ever. What this means for businesses is that they need to be ready to make quick adjustments. And the only way to do this is to pay closer attention to everything that is or isn’t working.

One thing’s certain: e-commerce will continue to grow at a rapid rate, especially in the coming months. For this reason, do your best to follow current trends. Future-proof your business, mitigate risks, and find ways to improve your service. This way, you’ll be decreasing the chance of being run over by the times, and allowing your business to reach new heights.

shopping

Impulsive Shopping and Post-Pandemic Consumer Behavior

Picture this. You are in the supermarket in your neighborhood queuing to pay and see some delicious and totally irresistible chocolates that you did not even think about buying but that now are something that has become essential. That is what in marketing is called “impulsive buying” and, for example in the case of supermarkets, it is their main source of benefits.

Let’s take it up a notch. Have you thought about how you can translate an Instagram or Facebook like into a sale? That’s called Influencer Marketing, and I’ll show you how to unleash this online technique by starting a conversation and ultimately driving sales and establishing impulsive shopping, whether this was your initial objective or not. Remember, one like, share or comment, might equal one sale.

The Internet and mobile devices, as instant tools, favor impulsive purchases. Different promotions present on your website can trigger unplanned purchases by Internet users. Imagine being able to have those displays that are in the boxes of the supermarkets integrated into the design and shopping experience of your online store… How much extra income could they bring you? The experience may surprise you.

Flash sales (Time-limited): Flash sales are time-limited sales that are very often used in e-commerce to encourage impulsive buying. Generated by an attractive offer but limited in time, the user has to make a quick decision if he does not want to miss this opportunity. It works very well, especially in specific seasons where people are willing to spend more money (Christmas, back to school, Halloween).

Free shipping: The hook is to set a minimum purchase price so that the shipping costs are free and, if the customer does not yet have that amount, offer low-cost products in the checkout process that achieve the minimum required quantity. If we use products that far exceed the minimum amount, it will not work, but if they are inexpensive and related to the purchase that has been made, success is practically guaranteed.

Stock level: Showing available stocks can, to some extent, favor impulsive buying. If the number of products in stock is low, the interested visitor will tend to buy their product for fear of not finding it again at the price proposed in your online store.

Give away discount coupons or free products (gift): On condition of making a purchase, of course. This type of tactic has been shown to also boost sales since the customer must buy in order to receive their gift.

Expiration date:  Discounts on these types of items range between 20 percent and 50 percent of their initial price. For example, if they are products that expire the next day, the price is usually cut in half, but if we talk about products that have weeks to expire, the discount stays between 20 percent and 30 percent. Stores free themselves of products that would end up in the garbage and without any benefit if not bought, while customers get a good deal for a product that they would either buy or just purchase to take advantage of that specific occasion.

After the pandemic

From toilet paper in the early pandemic to bleach and flour, during this crisis consumers have modified its consumption and its way of making the purchase. But what will the consumer be like after pandemic? It is evident that many consumers have had to test the online channel as a result of this crisis, and they have realized how comfortable and safe it is for them.

The confinement has made the segment of the population that least bought online, those over 55-60 years old, now the group that needs it the most, especially those over 70, who are the most vulnerable to the disease and those who, therefore, should be more confined and without the help of their families. Although the consumer preferred to buy some specific products in person; if consumers verify that the product they receive at home meets their expectations, it is very likely that after the crisis it will continue to do so.

On the same line of shifting consumer behavior, for instance, some of the most popular products today are related to protecting employees and separating consumers with employees, like speak-thru devices, trays and shelves, and sliding service windows.

Where do impulsive purchases predominate: in physical stores or on the internet?

Physical stores are the main claim to get a customer to buy without having thought about it before. This fact is partly logical because most impulsive products are food, clothing, drinks, and personal care products. If discounts and promotions are added to that, the mix is ​​perfect. Supermarkets, shopping malls, and convenience stores are the central places for this type of sales.

Furthermore, some stores go the extra mile by using techniques that play with your senses, by releasing exquisite coffee and fresh cookie smell to get you in, even if they’re not in the food business.

Online advertising is the least appreciated to generate buying impulses, but that does not mean that their tactics are useless: Brands that use digital platforms as the first approach and establish the first connection have the potential to reap the benefits when the time comes to make the final purchase in the store, according to a study by Geoblink. 69 percent of those surveyed stated having bought between one and five products spontaneously in the last week, while 26 percent admitted having made between six and ten purchases of this type.

The millennial generation is the one that buys the most on impulse: a small group of 7 percent have bought up to 11 items without foresight in the last week. The previous facts serve as a great opening remark of the aforementioned Influencer Marketing technique. If you got until this part of the story, it means that there’s impulsive buyer material within you.

Influencer Marketing is nothing more than getting the right people to talk about you, firstly triggering your target audience to talk about you, secondly prompting that audience talking to each other about you, and finally you and the audience listening to each other. When this two-way conversation is in place, it is very probable that some of your social media likes, whether on Instagram or Facebook, are in fact translating into sales in your physical or online store.

There are a couple of exceptions to this rule on digital impulsive buying: the first, that those who already have a subscription to a platform like Amazon, which avoids having to go through several stages before buying, are better able to combat the impulsive factor. The second: when the object to buy is an electronic item. 55 percent of the participants chose the Internet as the preferred medium for the impulsive purchase of these items.

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Featured in the Best Online Shops 2020 – Newsweek, DK Hardware is one of the largest online home improvement retailers for a variety of hardware manufacturers all over the United States and Canada.