opinions expressed by entrepreneur Contributors are their own.
The e-commerce industry has been running on autopilot for the past several years, governed by a set of “best practices” designed to help businesses increase brand exposure and increase sales. However, these practices prevent companies from achieving these goals. While these practices can create a smooth trading experience through an ecommerce site, they also result in an unoriginal and boring shopping path for shoppers. Buyer expectations have evolved; Hence, it is time for ecommerce businesses to do the same.
What do buyers want?
Buyers want something different and new. 64 percent say it’s rare for a website to feel unique or offer unexpected features. That means businesses need to develop a different branding and shopping experience that will help them stand out from millions of other ecommerce businesses.
So how can companies differentiate themselves and capture the attention of buyers? A good starting point for businesses should be to break away from two prevailing best practices to improve the shopping experience and differentiate themselves from the competition.
Related: Looking to grow your ecommerce brand? Get advice from this industry expert.
Practice #1: Frictionless trading = the best trading
The e-commerce industry has long followed the practice of creating frictionless shopping experiences for customers. Features like optimized search, site navigation, and checkout quickly take shoppers from the landing page to the checkout screen. However, creating a smooth shopping experience only benefits rare or one-time shoppers. Frictionless commerce may bring new customers, but it doesn’t create brand loyalty.
Loyal customers form a core group that can account for up to 23% of a company’s annual revenue, which means a major focus should be on building this core group. 62% of shoppers say they expect personalization, suggesting they are unlikely to return to a business unless the shopping experience is unique.
Businesses looking to break away from this practice should focus on creating a new and exciting experience rather than preserving the frictionless trading model.
Exercise #2: The best way to reach buyers is through a website
Another longstanding practice the industry adheres to is that the best way to attract buyers and convert sales is through a website. However, more and more shoppers are making purchases on their mobile devices. By 2025, approximately 44% of US retail sales are expected to come from a mobile device.
Many e-commerce websites are not mobile-friendly, which means that a desktop-optimized website is not enough to compete with other businesses. Therefore, ecommerce businesses should be prepared to find alternative ways to reach shoppers.
Related: How to Succeed in a Competitive Ecommerce Industry
3 tips to break with industry practices
There are three important tips to keep in mind when breaking away from industry best practices. These tips can help an ecommerce business reassess its current strategies and prepare for the start of 2023.
-
Create a strong visual brand identity: Businesses can create a strong visual brand identity through a highly visual experience, and by incorporating a multi-media approach to brand equity, brands can stand out from the crowd with a compelling brand feel and identity. These aspects like images, video, audio and interactive elements should be emphasized on a website to differentiate the brand from the competition.
-
Change your purchase path: Businesses should be prepared to change their purchasing path for customers. In addition to running micro-improvement tests for product images, button colors, element placement, etc., consider running macro tests that examine unique layouts. For example, trying out new layouts and hierarchy structures can help an ecommerce site feel distinctive and new.
- Develop a VIP experience: By developing a VIP experience, shoppers will feel like they are getting an exclusive experience that is tailored just for them. Delivering VIP experiences has the added benefit of building brand loyalty because shoppers know they won’t find the experience anywhere else. Some ways to develop this VIP experience include exclusive members-only content, special offers and perks. Businesses can also run loyalty and referral programs and bring novelty to their marketing and public relations efforts. Another way to develop a VIP experience is with a mobile app. Implementing features like expanded wish lists, product recommendations, and custom push notifications in a mobile app can help build brand loyalty and create an experience that shoppers can’t get elsewhere.
Related: 5 Ways to Deliver a Positive Customer Experience in Ecommerce
It’s time for companies to break with e-commerce industry best practices. Businesses willing to change their current approaches will increase brand visibility and increase sales. It might be easier to follow industry best practices, but it creates a predictable experience where your brand can get lost in the crowd. Shoppers want a personalized and fun experience, and the companies that offer it have a greater chance of succeeding.
