In this post-pandemic world, our lives have garnered a tendency as well as a necessity to stay isolated. Though this has disrupted our usual routine, it also comes with an opportunity. The world hasn’t been connected as much as it is today, hence, pivoting towards a new normal is the need of the hour. We now want frictionless modes of acquiring our essentials.
How eCommerce gained speed
Opportunities are in play for all sorts of businesses to reach out to their customer base and fulfill the demands of the consumer. E-commerce has been booming since the advent of the digital world. From q-tips to sanitizers, and bookmarks to home luxuries, every essential has been delivered to our doorsteps. Food delivery startups were quick to engage in this sphere of business by introducing instant deliveries of essentials. In a couple of weeks, their business model manifested into instantaneous growth.
Along with food chain startups and much more, the digital world witnessed quite some case studies with immense potential. There is an opportunity. The challenge, though not quite bleak, needs to be sought out.
Challenge #1 - Location Analysis
Analysing the locations where your product will boast the maximum return is principal while initiating your objective. This comes in handy when you start marketing your product for higher reach, for instance, if you market your product targeted towards senior citizens, in a location where there is a very low senior citizen population then your product won’t be able to turn a profit. In this scenario, you’ll lose money on the product as well as the money spent to market those products.
The solution to this is quite simple, conduct thorough market research and target your products segments accordingly.
Challenge #2 - Marketing
In the previous challenge, we have discussed how targeted marketing is essential, in this part we will discuss how marketing must be done to grab the attention of your consumer base. We can launch our marketing campaigns in the correct location, but how effectively we carry out our marketing is the key to increasing profits. The campaigns must be inclusive of the customer's interest. Thus it is advisable to use personal touch in them to create a connection.
Challenge #3 - A Clear understanding
For example, the famous Marlboro man advertisement showcased the gentlemen who everyone relates to, engaged with the product being marketed. It was a revolution in the field of marketing and advertisements, earlier the products were just explained to by some famous personality, but the Marlboro man portrayed a branding image to the customer.
Similarly, keeping in mind the post-Covid world, an identical marketing agenda needs to be followed. A few key points to keep in mind are as follows:
Have a good knowledge of what you’re competitors are pursuing. It is always a plus to have situational awareness of how others are moving forward with their ideas, this gives an in-depth analytical benefit to help reach a marketing decision.
Challange #4 - Social Media
You might have encountered and perhaps have been indulged in, is how some products have retained the actual name of the product itself, for example, when someone goes to a shop to buy toothpaste, they say Colgate even if the brand they are actually buying is different. This is how Unilever has captured the market. With a similar strategy, a universal product outreach must be aimed at
The modern world of digital media is connected from every end. Likewise, social media has been a very effective engine driving the human race towards a better environment where we are more aware of each other's attributes. Hence, it has become a necessity to engage deeply with social media’s immense potential. Analyze which target base prefers which type of social media platform and how to connect with it through that.
Challenge #5 - Search Engine Optimisation
We have talked about reaching out to your customer base through means of marketing and social media. Another must is the use of Search Engine Optimisation or SEO in abbreviation. SEO is the tool used to increase your outreach. For instance, if the product being sold by you is a fountain pen, then every time a person types fountain pen on Google or some other search engine, the first result must be yours. This helps to increase your reach to your target customer base.
Lastly, what has an empathetic impact is the human touch. We’re all living beings with different situations and desires, one must have the human touch included in their marketing strategies for a deeper connection with their customer base.
Challenge #6 – Supply chain System
When it comes to e-commerce, maintaining a robust supply chain system is quite crucial. An e-commerce space is where the product is sent to the customer rather than the traditional way where the customer goes to the seller. Thus comes the challenge, creating a seamless environment where it is easy and fast for the customer to get the end product and if some issue is faced, a seamless resolve of the said issue.
Thus, analyze what your requirements are and accordingly map out your supply chain network. There are multiple solutions present for this, you can research thoroughly and make a decision.
Challenge #7 - Pricing
Pricing has always been a deciding factor for consumers, it is no different on e-commerce platforms. With a decreased load on costing for sellers due to exemption of sundry expenses, they can cut down on pricing. This exemption increases even further when you gain a foothold in the market. Big corporations such as Amazon and eBay have the upper hand in this particular scenario as they have the freedom to exempt shipping costs because of a high volume of shipments.
In retrospect, consumer behavior changes in an instinct just like it did in the past decade. We must be ready to pivot to new ideas head-on to survive in this post-pandemic world. The solution in layman's terms is to find the problem and come up with an effective solution that is rudimentary in nature. E-commerce is here to stay for a long time and the industries must adapt accordingly to it for staying in the game.