How do I Grow My Online Business when E-Commerce Growth is Slow?
June 8th 2013
Recent data from Econsultancy (April 5 2012) shows that the growth of e-commerce has reached a stand still during the past few months. This has come as a surprise, considering the success online commerce has had for a really long time. But the real question is of course whether this slowdown in e-commerce will have serious impact on online business?
Despite the recent stagnation of e-commerce, online commerce remains a safe environment. It is undeniable that businesses which venture online and make investments in this industry are far more successful than offline companies. However, in order to ensure that your online business continues to evolve, there are a few key things you need to focus on.
Staying Ahead of the Competition Digitally
In order to ensure that your business is seen and accessed by consumers, you have to find ways to make it stand out amongst the plethora of other online businesses. If your advertising techniques have pretty much stayed the same since you’ve started your company, it is probably high time you made some changes. You have to realize that there is a lot of competition in the virtual world and that you have to improve your game in order to stay ahead of your competitors. Post interactive and valuable content that engages users. In this way, customers will be more likely to remember your brand and come back to it. Visual designs have a big impact on a customer, so make sure that you present your information in an appealing manner.
How to Market Your Business Online
It is important that you keep up with all the changes that are going on in the digital world and that you modify your approach to advertising, for example how far have you embraced magnetic content? Along with the advent of smartphones and tablets, marketers are faced with the challenge of developing advertising campaigns specially designed for these devices. In order to keep your business in the game, make sure you take the time to study this medium and try to come up with a way of reaching these customers. Try to find a route directly to your customers. One such way is to give consumers the possibility of finding out more about products when they are shopping down the aisle. This could quickly be achieved by using QR codes on product packaging or information, therefore giving customers a direct link to not only further details but also some sort of exclusive information for example an offer they could not get anywhere else.
Social Shopping and QR Code Payments
In order to increase your sales, it is vital that you understand customer behavior. Most online shoppers are also members of social networks, such as Twitter, Pinterest or Facebook. Using these networks as an advertising channel can bring much needed publicity to your business and, as a result, a higher income from sales. Make an account for your business and start posting photos of your products and relevant information about your line of work.
Another way of boosting your sales is offering more methods of payment to your clients. Apart from credit and debit card payments, you can also give them the option to pay via PayPal. Also, if your business is designed for customers all around the world, make sure you accept payments in all currency, not just your local one. in fact, a really quick way of encouraging buy-in is to capitalise further on QR code payment as the codes could quickly be linked to a PayPal button online. This means the customer could scan anything from a business card, leaflet or other marketing material and quickly pay via their PayPal account - or via your QR code.
All in all, despite the fact that e-commerce growth has been stagnant for the last couple of months, this is no reason why your online business should not continue to flourish. It may mean that you have to make some adjustments to your marketing plan, but in the end, your company will continue to grow. Just follow the tips provided above and you will be on the right track.
What's Happening Next Week on the SQUARE:CODE Blog?
Check back next time when we'll be looking at "How to Run a Paperless Conference with the Help of QR Codes?", when we'll be sharing ideas for engaging partipants as well as show you how qrcodes can help you organise and run a conference free of documents!