If you’re thinking about opening an eCommerce business, there’s no better time than the present. With over 150 million active online shoppers, the eCommerce industry in India is expected to continue its upward trajectory. By 2030, Kearney reports the market will be worth $40 billion — ten times bigger than it is today. But for your eCommerce business to enjoy a slice of this profitable pie, here are a few things you need –
1. A well-developed digital marketing strategy
Running an online business is totally different from running a brick-and-mortar one. Online you only have a few seconds to make a meaningful impact. Remember — in eCommerce, your customers have millions of other sellers at their fingertips. So, before anything else, you’ve got to develop a digital marketing strategy. This will cover everything from content and interface to omnichannel initiatives. Depending on your platform, you’ll want to tailor your strategy accordingly. For instance, an article on AskMoney suggests that sellers on social media platforms should make use of hashtags. This is a clever way to get your business into potential buyers’ algorithms. Alternatively, if you’re selling via a dedicated website, you may want to consider SEO strategies. This way, when shoppers search for products, your shop will likely end up in their search results. If you’re unsure about how to craft a digital marketing strategy from scratch, try studying how other online businesses have executed theirs. In doing this, you can note important factors like how they craft their content, when they post, and which sites they choose to market on.
2. Clear payment schemes and methods
Globally, 59% of respondents said they would ditch a transaction if the payment method they preferred wasn’t available. On top of this, 40% also said that an online store with more than one payment method available is much more trustworthy. With that in mind, it’s important to list down all pertinent payment-related details from the get-go. For example, make sure to include the price under each product description. At checkout, itemize any additional costs like shipping fees. And, most importantly, list down all your payment methods. Considering that 79% of Indians are in favour of cashless payments, it’s crucial to have several of these options available aside from cash-on-delivery (COD). This should include e-wallets, credit and debit cards, online bank transfers, and Unified Payment Interface (UPI) — which has seen a ten-fold increase in adoption.
3. Dedicated customer service representatives
Interestingly, a recent survey on Indian shoppers found that 73% valued the quality of the online customer service they received more than the actual product they purchased. Thus, when putting together your eCommerce team, make sure to assign somebody who will be focusing on customer service. This will cover responding to all online queries, posting content, and making sure that all serious concerns are escalated appropriately. Keep in mind, though, that whoever is assigned to this task must also know the correct tone and language for your brand. Generally, online, it’s best to be as detailed and polite as possible to reduce the chances of your intention being misconstrued. And as much as possible, the customer service representative should also conduct follow-ups with your customers. According to Incomopedia writer Dina Indelicato, by doing this it can help you gain insights and nurture customer loyalty.
4. A dependable logistics partner
Even if everything on your end went smoothly, your transaction can still be considered a “fail” if you have faulty logistics. Hence, when looking for a logistics partner, make sure to find one that can safely and swiftly deliver your orders. It’s also wise to partner with a logistics company with delivery tracking features and efficient customer service to ensure that your clients are updated on the process of their order. In some cases, customers who have received late or damaged items due to the courier are likely to expect a replacement or a refund from you. While some logistics partners do offer coverage in the event that they accidentally deliver an item late or damaged, this is often a frustratingly long process that will still cost you time, money, and possibly a customer’s trust. According to news outlet Techwire Asia, aside from securing safe and fast deliveries, many Indian shoppers are looking for same-day deliveries. Thus, following the route of the online groceries and pharmaceuticals that first began offering same-day deliveries, many online customers are beginning to expect this across the board, too.
While there are many opportunities in selling online, there’s also a lot of competition. But with the right tools and comprehensive preparation, you can build an eCommerce business that stands out and thrives.
For more guides and articles on navigating business online, please visit the rest of the blog at Incomopedia.