Dominating eCommerce
If there is one thing that the pandemic taught any business owner, it’s the need for a digital shift. Ever since COVID-19, we’ve all felt the effects of a digital transformation continuously happening around us.
In 2023 there are 2.19 billion online buyers. To put that into perspective, that is over 25% of the world’s population. So, online shopping is no longer a luxury, it’s a means of survival.
However, selling online isn’t always based on one’s intuition as it is within the real world. Any entrepreneur new to the game of eCommerce will know that its playground is filled with many obstacles. From what products to begin with, the price points to sell at, and most importantly which platform to sell on, the sheer lack knowledge make the shift from offline to online extremely daunting.
Nevertheless, the opportunities that come with eCommerce are endless, catapulting business growth to heights that didn’t seem possible. And selling on multiple different platforms only secures a brand’s success.
Know The Product:
It’s Business 101. Always, always know your product. Understanding every single facet that directly affects the product is key. And this all begins with market research through a thorough SWOT analysis. Knowing the competition, determining profit margins and scope of growth, and all other factors that directly affect the product’s success.
However, when it comes to dominating eCommerce, there are a few other factors to take into consideration. As consumers are shopping online, they don’t always have the time or attention span to continue browsing the pages. Therefore, how do product listings achieve a high ranking at allows them to show up on the first two pages? Well, the answer is simple dear reader, it begins with product listings.
Researching the different types of images and content needed to list products on an eCommerce platform like Amazon. More importantly, how to optimize Amazon product listings. By including and continuously optimizing listings with relevant keywords, enticing photos that clearly depict the product, organically ranks listings higher.
Know The Product:
It’s Business 101. Always, always know your product. Understanding every single facet that directly affects the product is key. And this all begins with market research through a thorough SWOT analysis. Knowing the competition, determining profit margins and scope of growth, and all other factors that directly affect the product’s success.
However, when it comes to dominating eCommerce, there are a few other factors to take into consideration. As consumers are shopping online, they don’t always have the time or attention span to continue browsing the pages. Therefore, how do product listings achieve a high ranking at allows them to show up on the first two pages? Well, the answer is simple dear reader, it begins with product listings.
Researching the different types of images and content needed to list products on an eCommerce platform like Amazon. More importantly, how to optimize Amazon product listings. By including and continuously optimizing listings with relevant keywords, enticing photos that clearly depict the product, organically ranks listings higher.
Know The Marketplace:
Before diving headfirst into the world of e-commerce, it’s essential to understand the different marketplaces and choose the right platform for a product. Each e-commerce marketplace has its unique audience and strengths, so careful consideration is crucial.
- Amazon: with its massive customer base and fulfillment network, is perfect for a wide range of products.
- Walmart: known for its affordable prices, appeals to value-conscious shoppers.
- Target: offers a blend of trendy and high-quality items, making it ideal for a variety of niches. If you’re into home goods and furniture.
- Wayfair: might be your best bet. For those in the handmade and creative niche.
- Etsy: provides a thriving community. By researching and selecting the right platform that aligns with your product’s target audience, competitive landscape, and selling requirements, you’ll be on your way to dominating the e-commerce game.
Know The Algorithm:
Every eCommerce platform’s algorithm has one specific job that has been trained rigorously to do as efficiently as possible- connect consumers with relevant products.
But it’s our job to understand how to leverage the different aspects of the algorithm to ensure our products appear. For example; Amazon’s algorithm primarily follows three simple, yet gold steps to rank products. By tracking relevant keywords that are searched by a shopper and connecting them with product listings that have said keywords, Amazon displays the products from the highest ranking to the lowest.
On the other hand, Etsy uses these three steps while also prioritizing shops that offer free shipping and consumer shopping behavior, i.e., the showcases products based on purchasing patterns.
However, the one thing any platform’s algorithm will always prioritize are sellers who spend on ads. It shows that they are serious about their business, their growth, and utilizing the different aspects of algorithm to attract shoppers.
Know The People:
Have you ever stopped to wonder why one buyer prefers Amazon over Target or Etsy and vice versa? Well, the answer is simple. Well, every platform offers consumers a unique factor that they value over all else.
For example; Amazon is known for its trust and speedy delivery, but Target is known for its great offers and discounts on its products. Furthermore, Etsy is a platform where shoppers who value artisanal products will go and browse as they know they will find hidden gems that no one else would have. Therefore, every platform has its own target audience that carter their respective consumer preferences.
Know How to Optimize:
Test, analyze, and grow. The game of eCommerce is extremely dynamic, and marketplaces are continuously adapting and changing based on trends. Therefore, when it comes to Walmart or Amazon marketplace optimization, testing, analyzing data, and implementing changes to grow is key.
For example; For example, a seller on Amazon specializes in electronics and there’s surge in demand for wireless headphones due to the latest smartphone release. To capitalize on this trend, they decide to test different product listings, such as variations in product titles, descriptions, and images, to see which combination resonates best with your target audience.
After running these tests for a few weeks and collecting data, they discover that listings with specific keywords related to the smartphone model in question perform significantly better than those without. They then implement those changes across all their listings to optimize them.