With technology at its peak and digitization, an online presence for businesses is a very important and inevitable part. But currently, the online marketplace is all about the “Amazon Effect”! In simple terms, Amazon has successfully brought in a new wave in the eCommerce industry with its one-day delivery systems making it a more reliable and favourite amongst online shoppers.
When we have a system to sit back and relax at home where all your needed goodies at delivered at your doorstep in just a day are quite interesting looking at its benefits. No more hassles of getting ready, drive through the traffic, reach the stores and carry back the stuff home when you can get them directly at your doorstep and at great deals! Who doesn’t like some great offers, we all do!
Amazon has even become a great competition to the big shots in the online marketplace such as Walmart and Target. The introduction of the Amazon Prime scheme has changed the face of how eCommerce websites work and can flourish at the same time. With a large investment of about 800 million dollars for logistics and technology, Amazon Prime has become the to-go-for system in the eCommerce market.
As per the recent studies on successful eCommerce stores, Amazon, Walmart and Target are among the highly rated eCommerce businesses online on the basis of customer loyalty. Yes, you heard that right. Customer loyalty. To people new to the term, Customer Loyalty can be defined as a result of consistent positive experience on the received product and service value that can be based on quality and/ or quantity. This is where you can get to know how well a business has retained its customers.
Even though one-day delivery has cost Amazon a huge investment, by speeding up deliveries, Amazon has made it possible to attract more customers who want items urgently and could have gone visited a local store if else not the one-day deliveries by Amazon. This has put on a huge pressure over the retailers who were enjoying the ample of time premium they had initially with Amazon. As of now, the local retailers are facing a crisis in this fast delivery process where they have to indulge in offering same day pickup and deliveries.
When looking into the statistics of Amazon Loyalty its show a great value of 95% of its Prime members who will renew their memberships and has also seen remarkable growth in new customers shopping from Amazon. There also has been a significant increase in customers who prefer using the Amazon as their primary and only online shopping platform. As we have already seen, this new wave has brought in a great tension on to the local retailers that can severely affect their revenue as well.
This scenario can gear up for a situation for the small or local retailers to come up to the expectations of the customers to stay at par with Amazon. As the one-day fast delivery systems by Amazon can be intimidating for the other retailers out there, there are still steps and strategies that you can use for your business to stay unique in the crowd. Let us look into a few aspects that the retailers can definitely work upon to gain better customer loyalty.
Know your Customers and Competitors Better
That’s the whole point when it comes down to the basics of starting a business, to know your customers! Knowing your customers can be easily achieved by asking a few questions such as:
What are your customers’ requirements? This is not only based on the products they need, it’s quality and units but also on how do they want the utilities to be delivered to them.
Analyzing what your competitors do to stand out is another question you must ask while noting down the points to improve your business. This may include the prices, the providers and even the speedy and timely deliveries.
This can be achieved with customer surveys, feedbacks and data analysis on how well your website performs and on the level of customer satisfaction and customer loyalty that your business has received. One other feature you can add or upgrade to a high rated order tracking and delivery script for properly managing the orders to be delivered in a timely manner.
Gain the Customer’s Trust
Gaining your customer’s trust is the first and last move for customer retention and more customers for your business at the same time. When it arrives at the call of shopping online, transparency is extremely crucial. Transparency on the right prices, the quality, the delivery schedules are all part of how reliable you can be as a service provider.
As discussed in the topic above, one other place that you can work upon your business for better customer loyalty will definitely be a proper channel of communication. This can include chat service available 24×7. toll-free customer services and even a simple yet precise and credible order and delivery tracking system for the customer to be well informed on how the package is moving.
Know the Cultures and Trendsetters
How would you feel I you had to re-enter your billing/ delivery address or your card details over and over again each time you purchase? Or, would you like things getting done in a jiffy of just a click of a button? Just like Amazon and other eCommerce websites work, your online webshop must definitely follow and contain the trending features such as chatbots, product suggestions, provision to save addresses, pay methods, pay using online wallets, etcetera. So it is ideal to follow the main basic cultures of every well-performing eCommerce sites work. Apart from the traditional features, adding new features, payment gateways, better customer service related add-ons will all push your better to rank better in the online business.
Have Mobile Technology
The Amazon Effect has made people sought after quicky-access buying options. As compared to brick-and-mortar stores and desktop webshops people nowadays prefer to have mobile-friendly versions for speedy shopping experiences. A recent study proved that around 92% of online shoppers prefer shopping on web stores on mobile devices.
Better Marketing Strategies
Applying a good marketing strategy along with the above-mentioned basics, working upon some dynamic pricing strategies, contests and prizes, offers coupons, etc can all be included in your marketing strategies.
Every business turns out well with its Unique Selling Points or USPs as it id called in short. Being a small scale or a medium scale business does not mean you cannot get in the rear of the competition with eCommerce giants such as Amazon in the front line. All you need is to make your business look and be unique among the other in the lot.