To succeed in ecommerce in 2016, businesses must deeply understand their customer base through data analysis and direct communication. Building a strong brand that resonates with customer values and establishing expertise in a niche are crucial for fostering loyalty beyond price competition. Furthermore, exploring diverse and international marketplaces beyond dominant platforms like eBay and Amazon presents significant growth opportunities for expanding reach and reducing competition.
Key takeaways
Utilize data to identify your most profitable customer profiles (RFM analysis) and directly survey them to understand their motivations and preferences. This data should inform all strategic decisions, from product development to marketing.
Cultivate a strong brand by clearly defining your company's ethos, values, and niche expertise. This helps differentiate from competitors, builds customer loyalty beyond price, and enables you to charge a premium.
Actively seek out niche and international marketplaces to expand your reach and reduce competition. Examples include country-specific platforms (e.g., Cdiscount in France, Alibaba in China) and specialized marketplaces (e.g., Yumbles for food).
For international expansion, research local marketplace leaders in target countries rather than relying solely on eBay or Amazon. Be prepared to adapt your strategy for mobile-first markets like Africa and India.
Offer valuable content and services (e.g., expert advice, knife sharpening service in the hardware store example) to enhance customer experience, build trust, and foster community around your brand.
The Expert View you've been waiting for - just what is going to be the key to eCommerce success in 2016? Our experts do not dissappoint! Listen to this podcast to make sure you're set up for great success in 2016. ---
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What does this episode say about analytics & attribution?
Utilize data to identify your most profitable customer profiles (RFM analysis) and directly survey them to understand their motivations and preferences. This data should inform all strategic decisions, from product development to marketing.
What does this episode say about brand & content?
Cultivate a strong brand by clearly defining your company's ethos, values, and niche expertise. This helps differentiate from competitors, builds customer loyalty beyond price, and enables you to charge a premium.
What does this episode say about amazon & marketplaces?
Actively seek out niche and international marketplaces to expand your reach and reduce competition. Examples include country-specific platforms (e.g., Cdiscount in France, Alibaba in China) and specialized marketplaces (e.g., Yumbles for food).
What does this episode say about customer retention?
For international expansion, research local marketplace leaders in target countries rather than relying solely on eBay or Amazon. Be prepared to adapt your strategy for mobile-first markets like Africa and India.
What does this episode say about analytics & attribution?
Offer valuable content and services (e.g., expert advice, knife sharpening service in the hardware store example) to enhance customer experience, build trust, and foster community around your brand.
