How to build a Moat for your eCommerce store?

Introduction

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Acquisition and Retention are two important aspects of any eCommerce business. In the wake of cut throat competition, retaining customers is as important as acquiring new ones. Not just retain, we must continue to grab their attention, encourage them to engage more with our brand and try our best to reward them for their loyalty.

In this post, let us try and understand some strategies that will help you to build moat around your ecommerce store.

How make your eCommerce store competition proof?

In today’s world, merely owning a business is not just enough. We must put in continuous effort to make it stand out from our competitors and device strategies that encourage our customers to engage more with our brand. Here are some strategies that will help you achieve just that.

Improve your online presence

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As a first step in building a moat for your eCommerce store, concentrate more on your inbound marketing efforts. Improve your efforts on SEO and social media marketing and developing more engaging and conversational content helps customers to identify brands through search engines and land at the right place. We also need to focus on improving our presence on all social media platforms by posting relevant content as often as possible.

Sell on all market places

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Are you are selling only on your own eCommerce store? Then you might be losing all the customers who shop only on a particular online market place. To gather more visibility for your store, create a shop with the same name on all the leading market places and diversify your business to as many channels as possible. In this way, you will not only reduce your risks but also enhance your online presence.

Maintain your own customer list

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Customers are your ultimate strength, so make sure to grab every opportunity to gather your customers’ emails. Maintain well curated lists of all your customers and segment them appropriately, so that you can send out targeted emails to convey the right message to the right audience. Make sure to develop a steady line of communication in the form of newsletters, tweets, Facebook posts etc. and continue your association with your customers.

Connect with B2B customers

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Studies indicate that B2B customers are highly predictable and loyal, so try to identify those businesses who use your products or services and directly send targeted marketing communication to them. These efforts will bring in steady revenues and also help you to build a strong community of customers.

Connect with Influencers

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Influencers are those customers who are the earliest to make a purchase and try and leave a lasting influence on all the other potential buyers. For example, bloggers are the first ones to use your products and through their reviews and posts, they tend to influence many others. Customers do a lot of search before they make a purchase. They mostly depend on blogs, reviews and endorsements for gaining more knowledge about your product, so make sure to identify the right set of influencers in your niche and help them to understand your products or services in a better way. If possible offer samples to them and then seek their honest reviews. This helps you to gain genuine customers and in turn create loyal customers for your business.

Conclusion

We can never secure our business and make it future proof. One needs continuous effort with a focus on your company’s objectives. Align all your marketing efforts with your objectives and continuously review the performance of your campaigns in order to sustain in business over a longer run.

 

Tenovia

We, Tenovians are passionate about all things eCommerce. While we aren't dabbling in our clients' eCommerce numbers and ops metrics, we keep ourselves busy learning on the latest in the industry.

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