During a financial meltdown, it often makes practical sense when a small business—or large franchise—decides to transition away from brick-and-mortar real estate to an online-only presence. Maintaining a digital presence may seem quick and easy on the surface; however, it also involves a new set of challenges when it comes to retaining current clients and customers and drumming up new business opportunities to ensure market growth.
How do you break through the digital noise and differentiate your brand from online competitors? What is the best way to grab the attention of consumers who have short attention spans? Leading experts from Forbes Business Development Council agree that moving prospects through the digital sales funnel process is tricky whether the market is up or down. To help other biz developers and teams create an e-commerce business that stands out in the marketplace, they recommend the following best practices.
Members pictured from left to right.
Photos courtesy of individual members.1. Invest In Dynamic Audio Advertising
Engaging an e-commerce audience is critical, which is why digital advertising is so important. Dynamic audio advertising or the ability to adapt content and promotions to individual users has proven to be especially effective. Retailers like Target and Walmart are using it to improve brand awareness and increase conversion rates and purchase intent, but it has value for brands of all sizes. - Paul Kelly, A Million Ads
2. Create A Unique Customer Experience For A Niche Target
The customer experience is paramount in a commoditized market—it's everything. Beyond that, creating a niche market with unique items allows you to get a foothold where others haven't. Lastly, a phenomenal post-order experience such as support, hyper-receptivity toward suggestions, shipping and more will set an owner apart from the rest. - Zachary Troyer, Sliderule
3. Upgrade Your Tech Stack
Choosing a modern tech stack is crucial for successful e-commerce in today's market. The customer journey starts on the front end. So if it’s slow, your performance and conversion rates will suffer. Supercharging the customer experience by using composable technology for the website can become a crucial factor in your success. - Viktoria Gusyeva, Vue Storefront
Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?
4. Engage In Constant Learning Opportunities
What is important is a need for constant learning, curiosity, research and the ability to see challenges as opportunities. If you see roadblocks as opportunities, then you are able to produce out-of-the-box ideas and win the market. To succeed, you need the flexibility of mind and the ability to balance what is safe and what is new. Paying attention to the new-school developments is crucial to make the old-school approach cool. - Anna Jankowska, RTB House
5. Find Ways To Amplify Existing Customers' Voices
An e-commerce business stands out when it has great products and customer engagement. Drawing new customers in is as simple as amplifying the voices of existing customers and their experiences. - Serrah Linares, Change Healthcare
6. Team Up With Micro- And Midi-Influencers
Successful e-commerce businesses are driven by word-of-mouth testimonials and visual reviews. Creating strong marketing campaigns with user-generated content from hundreds of micro- and midi-influencers is the most effective way of building an online community of cheerleaders who promote your product using their own follower base, which generates sales conversions through the "trust" factor. - Angelica Kopec, She Knows Business
7. Focus On Building A Better Brand-Client Connection
Don't just build an online store, build a brand! A huge part of the customer experience is how you make them feel. A strong brand will create a personal, relatable connection that reminds them of who they are. Add a great influencer marketing campaign, stay top of mind with ads, stay active on social media platforms and keep a smooth, fast and easy buying experience on your site. This will help you stand out every time. - Josh Snow, Snow
8. Offer A Well-Rounded Product Offering
Create a unique experience that includes well-rounded product offerings. Ensure that you tailor to your buyer. Whether your product caters to B2B or B2C, it should always reflect the specific type of messaging and user experience. You'll also want to make sure that you have a complete solution that grows with your business. - Richard Lindhorn, VivoAquatics Inc.
9. Communicate A Clear Message That Solves Problems
E-commerce businesses that want to stand out in the market have to grab the attention of their audience within the first five seconds. If their messaging doesn't resonate within that period, the consumer moves on to the next ad. Therefore, having a clear message that solves the problem and targets the right consumer will help you increase the company's return on ad spend and overall profitability. - Joshua Meunier, The Uncommon Element LLC
10. Differentiate Your Brand From Other Companies
Stop using copy-and-paste templates and stores—instead, be unique. If you are selling something, chances are your product is unique or has some sort of special flair. Use that as your strength and build your e-commerce site to differentiate yourself from the rest of the marketplace. A good website can make a three-person-led company look like a Fortune 500. - David Strausser, SEIDOR
11. Develop Innovating Products And Services
Business owners can create a brand that stands out by offering unique products or services, providing excellent customer service and creating a strong brand identity. Utilizing digital marketing strategies, such as social media, can help attract and retain customers. Staying up to date with industry trends and continuously innovating can help a business stay ahead of the competition - Javed Laher, Mediaocean
