Shaken & Stirred - Influential Brand Profiling and Positioning

How To Stay Ahead in the E-commerce Market

E-commerce websites are growing in number by the day, with the pandemic serving only to turbo-charge this growth. Unsurprisingly, this has caused the market to become very saturated. So, how is it possible to outshine competitors and gain a competitive edge? There are different steps your business can take to stand out from others, from using great affiliate networks like affdeals to acting on competitor analysis. Keep reading this blog to find out more, it could be one of the best moves you make this year!

Product Quality

E-commerce businesses are great at providing customers with new products to choose from, especially ones that offer the latest technology features. This is good when a new product is unique and differs from what competitors are selling, however, most products don’t have this in-built advantage. Indeed, products that e-commerce businesses which operate in the same industry offer are usually very similar. As a result, it can be hard to increase sales. However, there is an answer: high product quality.

By offering durable products you can achieve many things. For example, not only will it help when showcasing products to site visitors as they decide whether to buy from you or not, but it can also help increase sales from a customer retention viewpoint. Plus, as a bonus, customers may also recommend your products to others. Be brave and open up a reviews section on your e-commerce site if you don’t already have one. 

Therefore, it’s not always the best idea to go for the cheapest options to sell. Finding quality products that leave customers impressed can be what’s needed to stay ahead of competitors.

Branding That Differs

As we mentioned, the market is full of e-commerce websites competing against each other. This means that potential customers are exposed to a never-ending stream of advertisements, and 90% of them look the same!

Branding can help e-commerce sites break away from competitors by using unique branding. The best way to do this is by analysing what you do and the reason you’re doing it. This will then help create your mission. By clearly stating these, customer perception can change, which can have a positive impact on your revenue. However, that’s not all.

Branding is more than expressing your core values, you also need to prove that they’re important. Say that customer service plays a crucial part in how you conduct business, by offering different customer support channels that provide excellent customer service you’re demonstrating your commitment. 

Use Affiliate Marketing

For many e-commerce stores, marketing budgets are limited. This means that competitors with access to higher amounts of money can reach a larger audience. That’s where affiliate marketing comes in. 

Affiliate marketing allows businesses to give a percentage of each sale back to those who promote it, only when the sale has been made. Therefore, revenue generated for the sale can be used to pay the affiliate marketer, perfect for e-commerce businesses that have a restricted cash flow. 

Keep An Eye On Your Competitors

Understanding what’s happening in the market can be very useful. By looking at competitors to spot certain trends emerging and pivoting accordingly, you can be one of the first to capitalise on these changes. To implement an effective competitor analysis, you’ll need to have a strategy in place. This allows for other e-commerce websites to be checked regularly to determine if shifts in the market are occurring.