Merchant Capital

Strategies To Grow Your Online Electronics Store

While demand for electronics is out there, it comes with huge competition. So how do you make sure that your electronics store grows parallel to giants like Amazon, Hirsch’s and Takealot? To help you think bigger, we have rounded up key strategies to help you boost and build your online electronic store.

Specialize wherever possible

E-commerce giants are at a distinct advantage because not only can they target specific customer needs, they can also offer really competitive pricing. But take a deep breath, because you don’t actually have to try and compete with this. This is because customers are not just looking for a good deal, they are also looking for a great user experience. And you can give this to them. This really comes down to how they are treated, and how their needs are being met by your offering and brand.  A clever way to do this is to make sure you are specializing to specific target markets. For example is you are focussing on Millennials, think about what they would love to buy like cutting-edge tablets and gadgets. If your target audience are Seniors, consider stocking products that are plug-and-play and easy to use. If you are hoping to sell tech products for kids, then your target audience is the parents. So your marketing and product strategy should include flagging educational benefits.

Increase your average checkout price

Once a shopper is in your online store and willing to buy, you have to make the most of it. One way to increase sales and profits is by increasing the average checkout price of the transaction. Essentially you want to try and get the customer to add as much to their basket as possible. This comes down to upselling. This can be done by highlighting your best sellers. This helps you highlight what is already working and it is very important that your clients don’t leave without at least being given the option to view their items. Another option is to give the option of free shipping by spending over a certain amount. If you highlight the short-fall at check-out it may incentivize your customer to add a little more to their basket in order to qualify for the free shipping option. Another classic tool is to create parallel banner ads that highlight items that are similar to what the customer is already interested in.

User-generated content (UGC)

What other people think, matters. This applies to your products too. To make their purchase decisions, buyers usually look at other people. So it’s important to show your potential customers what others have bought and enjoyed and how the product will in turn, benefit them. In this way, providing the space for user-generated content answers these questions and convinces prospective customers to buy. It becomes easy for customers to send their content when you specify a hashtag on social media or open your products up to live reviews.

Omnichannel marketing

Imagine this: Your customer has started the purchase process for a product on their smartphone and for some reason has to continue on desktop. Do they now need to start all over again from their desktop or can they simply continue where they stopped on their smartphone? Apart from using different devices, another factor in today’s marketing is that potential customers might have to use channels such as social media, email, phone, and others during interactions with your business. With omnichannel marketing, you can integrate all these interactions together so that you can deliver your brand messages and service to customers in a seamless flow. This also helps reduce friction during the buying process and increase conversions.

The bottom line

Don’t worry if you can’t compete with the giants of the industry. Often people like to deal with smaller establishments that have a human behind them who is accountable and thinking about their personal needs. By implementing these simple strategies into your operations, you are bound to increase basket size and boost your bottom line.

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