Marketing Strategies

Festive Season hacks to nail online Marketplace management

For every Indian, this is the most awaited time of the year, when everyone strives to give and get the best things money can buy. Festive season shopping has evolved from store hopping to marketplace shopping, with grander shopping experiences and options. If you are a retailer or a marketer, you would want to invest all your time and efforts in your E-commerce marketplace management and make the most of this festive season:

Here are a few hacks to guide you through:

Personalize
The best way to reach out to different regions and cultural communities is to personalize your message/product for each of them. For example, for buyers in Chennai, it would have more impact if you use a regional connotation in your brand messaging, that your local shoppers can relate to.

Use the impact of scarcity
Psychologically, customers are always driven by a sense of urgency. For example, ‘Last 3 hours of sale’ or ‘Last 5 items remaining’ (for vanity products) have more chances of conversions than running a ’30-day festive sale’. Use the effect of scarcity to push customers through the marketplace funnel.

Avail the benefit of fulfillment services
With an increased demand for products, consider opting for fulfillment services offered by marketplaces, like FBA by Amazon. This helps you with on-demand warehousing, dedicated logistics, sales support etc. You can also look for a marketplace management service to manage operations, while you can focus more on the strategic aspects of your E-commerce business.

Create product mixes
Most shoppers look for a mix of products to gift this season. You can promote product combos based on what the marketplace is promoting or create your own combinations, based on your sales numbers. This is also a good time to add giveaways with slow-selling products and clear up the inventory.

Automate your processes
When you are running around to fulfill increased orders and deliveries, you cannot slack at any point in the entire process. To make it easier and more efficient, implement an automated inventory management system which will monitor inventory, delivery, returns etc.

With these smart hacks, you can get the maximum value in terms of sales, visibility, and traffic, and turn the festive season into the most successful time for your retail business.

Is it the right time to get your business on the marketplace?

The constant endeavor of any retailer is to grow the business and take it to the next level. Whether you the owner of a brick-and-mortar store or a web store, your next move is obviously going to be on the marketplace. But are you ready to join the big, wide world of online marketplaces yet?
Here are a few indicators that could help make a better decision:

Your current set up is asking for more investment
Although it is easy to set up the store in the first place, it takes more investment of time, effort, and resources to take it to the next level and make it exceptional.

Managing your marketing activities is becoming cumbersome
No matter how much you push your marketing activities, there’s only so much you can do single-handedly. Marketplace management includes automatic marketing strategy that helps each retailer to be on the promotional bandwagon, and boost your own marketing efforts.

Your sales strategy feel outdated
The E-commerce industry is evolving every day, with new features and advanced processes, which can enhance your brand visibility online. Marketplaces make the most of these and build a robust strategy with live chat services, product videos, user-generated content, and so on, to keep themselves updated with the customers.

You realize the need for smarter payment methods
If you want to expand your customer base, you need to have universal payment methods that work everywhere. If you feel that the payment process is restricting you from expanding your market, then online marketplaces can help you reach out to more customers with their multiple, easy payment options, and suited to different regions.

You are not too savvy to handle tech operations
When it’s your own store, you have to take care of every operational aspect, including tech support. Even if you hire a resource, you still need to be well-aware of basic troubleshooting etc. With marketplaces, they have dedicated teams to handle the complexities of tech operations, so, even the non-technical retailers can operate without much hassle.

For more efficient operations, you can also seek the support of marketplace management services and enjoy your own piece of the E-commerce pie!

How to plug in a Social Media plan in an already existing marketing plan

With more than 4.1 billion active users globally, social media opens up opportunities to engage with your audience like never before. However, if you want to gain the best benefits of this pervasive marketing channel, then your social media strategies need to be integrated with your content strategy. But, what if you have your marketing plan all laid out? Then how do can you integrate a social media plan into your current marketing exercise?

First of all, set your Key Performance Indicators (KPIs)

What do you want to achieve with your social media efforts? Do you want to create brand awareness through social conversations? Or increase your website traffic and engagement with your brand? Or do you want your audience to complete an action?

Depending on what you want and expect, you can set your key metrics and the KPIs that you would measure eventually. Most social platforms have inbuilt data analytics tools to help you measure the success of your marketing efforts.

Devise a strategy that would synergize the efforts of your marketing plan

Try these combinations-

Social Media & Email Marketing Enable social sharing within your email content. Talk about your email campaign on social platforms and vice versa. Let your audience have all-rounded communication.

Social Media & Search Marketing– Create quality content for your brand and share it across all platforms where you want to be present. Make sure to optimize it for the search engines and social media.

Social Media & events- Make your audience aware of your live events or even the virtual ones by promoting it across your social channels. Invite them to the event and share real-time updates with your followers.

Social Media & market research– Use your market research data to connect with your social audience. You can create or improvise on your business offerings based on their responses.

Identify your brand voice and target social channels accordingly

Your brand voice and personality will determine whom you want to talk to, leading you to the right social platform. For a more strategic approach, seek the help of a social media consultant or a social media marketing agency

Thus, social media plan is not be created in a silo but an indispensable part of your marketing plan, to boost your efforts and get better results.

Why are Newsletters Important for the eCommerce Industry?

cover-imageIntroduction

Newsletters are product focussed content that companies send through email to all those customers who have subscribed to the newsletter services. Companies use newsletters to inform their customers and prospective customers, on the company’s updates, share information on new products & services and to establish an authority in their niche.

In today’s post, we would like to talk about the importance of newsletters for your eCommerce business.

Importance of Newsletters for the eCommerce Industry

Newsletters are one of the most important forms of communication with customers and prospective customers. They are a great way to share a snap shot of all the happenings at the company’s end. Here are a few aspects that show the importance of newsletters for your business:

Carve your niche

Newsletters offer ample opportunities to carve a niche in your line of business, to improve your brand value and to position your brand as a leader in front of your target audience.

For example, take a look at this news letter sent by Flipkart. Making the best use of the season, Flipkart sent out newsletters showcasing various gifting options for friends and co-workers.

carve-your-nicheShare updates with your customers

Newsletters allow you to share all the latest happenings at your end with your customers. You share information on your new products, services, changes in store policies, special offers, upcoming events, details about awards and recognitions, collaborations,philanthropic activities undertaken by your organisation and many more. By sending newsletters at regular intervals, you may stay connected with your customer and informthem about your business.

Here is a New Year special newsletter sent by Tulika Publishers, they shared information about some of their upcoming books and events in a creative and colourful way.

share-updates-with-your-customersGather more returning customers

Most of the subscribers for your newsletter service will be your existing customers. Use the newsletter to improve their chances of returning back to you.  A simple newsletter with special offers for returning customers will do wonders to your sales.

Empower your customers

Use the newsletter to share tips and suggestions to your customers along with product recommendations and empower them to make better decisions. This will improve your brand’s credibility as well as improve your sales.

Here is how UrbanLadder.com cleverly sends some tips and product recommendations for using the colour white in Home Décor:

tips-to-decorate-in-whiteImprove your presence in the industry

Newsletters are not just for customers, you may send them to your employees and business partners as well. Share information on the latest happenings in your industry, new inventions and discoveries, industry jargon and their meanings, contests, special features where industry experts share their experiences. You may also use the newsletter to let your associates’ voice their concerns!!

Conclusion

Even in the age of social media, newsletters continue to be one of the most important forms of customer communications. They allow you to share time to time updates about your brand and position you as a leader in the market. They offer ample opportunity for your customers to trust you and recognise you as a credible source of information.

A well drafted newsletter is informational and is not sales driven. When used diligently, newsletters can help you to improve your brand’s:

  • Value proposition
  • Credibility and authority
  • Visibility and eventually
  • Sales

Design your newsletters thoughtfully and share user stories that create a lasting impact on your customers.

 

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