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Is Cash On Delivery illegal?

Is Cash On Delivery illegal?

Categories
Ecommerce

Cash on Delivery (CoD) was an instant hit when it was introduced by Flipkart in 2010. Almost every e-commerce giant had to follow and bring in a CoD option despite increased cost of operations. A recent RTI reply from RBI about the authorization of CoD payment collection and disbursement created huge uproar about the legality of CoD.

“Confirm if cash-on-delivery payment collection and disbursement to ecommerce merchants by ecommerce marketplaces such as Flipkart and Amazon (are) covered under the definition of payment system and system provider of the Payments and Settlements Systems Act, 2007, No. 51 of 2007 by acting as intermediaries and system providers. If yes, are these payment systems authorised as per Section 8 of the said Act?” was the query filed in the RTI by Mr. Dharmendra Kumar.

The RBI had the following reply to the RTI: “RBI has not issued any specific instruction in this regard, intermediaries would include all entities that collect monies received from customers for payment to merchants using any electronic/online payment mode, for goods and services availed by them and, subsequently, facilitate the transfer of these monies to the merchants in final settlement of the obligationsof the paying customers.

Now, the Payments and Settlements Act 2007 came into effect in August 2008 to regulate and supervise all the payment systems in India. The PSS Act, 2007 provides for the regulation and supervision of payment systems in India and designates the Reserve Bank of India (RBI) as the authority for that purpose and all related matters. The RBI is authorized under the Act to constitute a Committee of its Central Board known as the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), to exercise its powers and perform its functions and discharge its duties under this Act. The Act also provides the legal basis for “netting” and “settlement finality”. This is of great importance, as in India, other than the Real Time Gross Settlement (RTGS) system all other payment systems function on a net settlement basis.The Board for Regulation and Supervision of Payment and Settlement Systems Regulation, 2008 deals with the constitution of the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a Committee of the Central Board of Directors of the RBI. It also deals with the composition of the BPSS, its powers and functions, exercising of powers on behalf of BPSS, meetings of the BPSS and quorum, the constitution of Sub-Committees/Advisory Committees by BPSS, etc. The BPSS exercises the powers on behalf of the RBI, for regulation and supervision of the payment and settlement systems under the PSS Act, 2007.The Payment and Settlement Systems Regulations, 2008 covers matters like form of application for authorization for commencing/ carrying on a payment system and grant of authorization, payment instructions and determination of standards of payment systems, furnishing of returns/documents/other information, furnishing of accounts and balance sheets by system provider etc.

The RBI has given no clarification on the issue. While CoD conforms to the law of accepting money on someone else’s written behalf, it does leave a grey area under the Payments and Settlements Act 2007. With the government which is keen on bringing a new legislation on e-commerce would also be keeping a keen eye on the regulation of the CoD payment mechanism.

Reliance Retail gears up to face Amazon and Flipkart

Reliance Retail gears up to face Amazon and Flipkart

Categories
Ecommerce

Reliance Retail, who have recently step into the online sales of smartphones and electronic appliances such as refrigerators, air conditioners, and televisions with the launch of their new online platform. Smart phones and electronics sales which account for 55 to 60 % of the business in e-commerce have been dominated by Amazon and Flipkart. Reliance Digital plans to rival them using their offline store and smaller Jio stores as fulfilment centres for the online orders and.Reliance Retail has now an incredible reach across more than 5,200 towns and cities, with 8,533 stores.

“The commercial operation has just been launched across India. While this is an omnichannel expansion of Reliance Digital, there will be a dedicated focus on making the online operation successful,” an industry executive was quoted as saying by The Economic Times.Reliance has identified four key pillars to achieve its expansion plans and that includes — augmenting geographical reach, innovating newer store concepts and channels, enhancing customer experience and leveraging technology.

Recently, Reliance Retail reported an over three-fold jump in pre-tax profit of Rs 1,069 crore for the first-quarter ended 30 June, 2018. Revenue from RIL’s organised retail segment during last quarter grew over two-fold to Rs 25,890 crore as against Rs 11,571 crore from the last quarter.

It became the first Indian company to enter the world’s top 200 retail chains to cross $10 billion in sales and rapidly continues to expand in new cities.

In late March, it was reported that Reliance Retail were aiming to raise Rs 4,000 crore via a rights issue to fund their expansion plans. The move is widely seen as the company’s attempt to beat competition from global giants Amazon and Walmart. While a fund raise would help them offer deep discounts and expand their online services, how Amazon and Flipkart cope up with a major emerging competitor would be worthwhile to see.

Time’s up for heavy online discounts?

Time’s up for heavy online discounts?

Categories
Ecommerce

Have you ever wondered how major gameplayers in the e-commerce industry offer over the top discounts in so many products? This phenomena of providing unrealistic discounts is called “Deep-Discount” which has put companies like Amazon and Walmart-Flipkart in a complex loggerhead with the Rest of India.

The e-commerce market has almost reached to 100 billion dollars and is set to almost double in the coming decade. Indian government has proposed an “India First” policy, a draft which proposes the end of “deep-discounts” from a specific date. Food Deliver sites like Swiggy and Zomato will also be covered in the proposed legislation. The draft has been brought in after numerous grievances from micro, small and medium enterprises of unfair game from e-commerce giants. The legislation has a number of proposals:

-Group Companies of online marketplaces to be barred from influencing prices

-Bulk buys by related party sellers to be banned

-A ‘Sunset Clause’ defining the duration of discounts

-FDI: Restricted inventory based-model for funder/foreign companies

-ED to look into violations

-CCI to overlook competition distorting M&As

-Data to be hosted in India

The Indian law restricts foreign companies from holding inventory although it allows 100% FDI in market place model. The new policy proposes that Indian-owned and Indian controlled online marketplaces shall be able to hold inventory provided the product are 100% domestically manufactured. There is also a plan to instil a Consumer Protection & Grievance Redressal system. The proposal would not please Amazon and Walmart who have invested 5 billion and 16 billion dollars respectively. It will significantly intervene in their business, decision making and slowing down business operations. Local etailers are also in a limbo with the ambiguity of the draft.

The heavy discount mechanisms of these e-commerce giants are complex. The three major e-commerce companies, Amazon, Flipkart and Snapdeal, all operate as marketplaces since the law doesn’t allow FDI in e-commerce sites selling directly to customers while the same is allowed in a marketplace which links sellers and buyers. A marketplace also provides payment, storage and delivery something which is not possible for a foreign funded e-commerce site. Direct Retail is banned in India and marketplaces are forbidden to exercise control over the price of sellers, including discounts.

Non-regulation of the prices and discounts have impacted small-scale business adversely and the draft will come as blessing in disguise for many who feel e-commerce giants have gained the monopoly of the retail sector. The proposed legislation is set to overhaul the e-commerce industry in India and it would be interesting to see how it impacts both the Small-scale business and heavyweights of the industry.

Planning your E-Commerce and SEO migration

Planning your E-Commerce and SEO migration

Categories
Ecommerce

Migrating your e-commerce site could be a tricky thing. Migrating a site to a better design, algorithm, theme or platform is done with the expectations of positive impact on growth, engagement and organic hits on the website but it could have negative impacts and the hits might even go down than the number before the migration.

Site Migrations are done to make substantial changes in the website to enhance search engine visibility. These changes could be to the overall code, design, theme, UX or content. There are a lot of misconceptions around the impact of migrating a website. Migration is a huge task with many nuances which if not taken care of, could lead to devastating results after spending a lot of money. Although, if migration is done right, with a strategy and a plan it could reap unprecedented benefits and could increase the business multi-fold.

Migrating to a new website is a process including three phases: Pre-launch, Launch Day and Post Launch. The platform, structural, content and design changes, integration and other technical elements and the testing for vital checklist for the Pre-Launch phase. Most of the work done during a migration is done in the Pre-Launch Phase. There are a number of things which could possibly go wrong. Transferring your content from the old website and adding or modifying it in the new one could lead to missing pages and errors. Lack of SEO-consultation and a slow-responsive domain could also be major pitfalls. Thorough functional and domain testing could yield massive results after the website migration.

The Pre-Launch phase needs to be meticulously planned to ease out the rest of the process. A scope of the changes including the list of URLs on the present website along with the modifications should be prepared and a conducive timeline must be assigned. The redirection map to the new site is often missed out.

A few ways to avoid a migration failure on the launch day are:

  1. Setting Objectives – Setting an objective and growth opportunities is essential. It will help the team strive towards a goal.
  2. Testing and Forecasting: Testing is the most crucial part of a migration. The look, feel and performance of the website is what will drive more consumers and testing helps eradicate related bugs and glitches.

Planning the Launch Day is crucial for a migration. Successful bug-free implementation, marketing and running third party services could boost the expectations. Measuring rankings using tools and monitoring the engagement could help in planning for the coming days. The post-launch monitoring is also crucial if the outcomes are not as expected because it helps identify reasons early. Post-launch marketing is also another major checklist for the Post-Launch phase. More visibility is bound to help in the engagement and buy rates.

Migrating to a new website is an involving process. It needs a lot of time, planning and patience however there’s nothing to be afraid about it. Planning and Identifying present short-falls to your business model could be the ideal way to start. Migration, if done right could escalate your business beyond expectations and might go adversely wrong if not done with precise planning and execution.

Content Creation

Content Creation

Categories
Ecommerce

Your website content is the first thing to work on if you seek enhance visibility and engagement. Relevant, up to date, concise and appealing content could bring in new users and help boost business. Content is a broad spectrum that covers everything from keywords, website content, social media (Facebook, Twitter, and Instagram) handles, blogs, images, infographics, and videos.

Google is the most commonly used search engine in the world. Terabytes of content data is processed by Google complex search and ranking algorithm every day. Relevant, trustworthy and unique content could help increase website rankings on Google considerably enabling more hits from new visitors.

Content is the first information being displayed to any user about the website and the user experience could, in turn, decide if he’ll revisit the website again, making Content Creation an essential pillar of any successful website. Marketing stats reflect a huge impact of content on business:

  • Companies with 15+ blogs every month get three times more visits than companies publishing four or fewer posts per month.
  • Almost 60% of online sales are result of customer reading a particular blog.
  • SBMs using content marketing get around 126% more leads.
  • Most importantly, content marketing costs 62% less than other marketing options.

Content creation involves a number of steps. A strong and concrete content strategy is the base of any content creation. Content Strategy covers everything from content goals, brand, tone, and promotions. Identifying the target audience should be prioritized and creating personalized content could gain more recurring customers.

At the very base, content creation involves five basic steps: research, ideation, writing, editing, and publishing. While there are a number of Content Management System (CMS) software available in the markets helping huge websites manage their content efficiently.

Social Media has truly revolutionized the content industry. Social media platforms have made it easier for firms to bridge the gap between them and consumers. Engaging with users, sharing innovative content and campaigns are doing wonders to companies all around the globe. Analyzing your social media and website are essential. Content Audits and analysis help in identifying things that might need re-work, promotions or a completely new strategy. Audits help in realizing the content which are working and gaining traction or not.

SaaS Metrics – Key to Growth

SaaS Metrics – Key to Growth

Categories
Ecommerce

Software-as-a-service industry has been steadily growing for two decades now. The industry is expected to grow at a rate of $76 billion per year with SaaS IPOs doubling over the last decade. The industry has grown exponentially and is also witnessing fierce competitions in an ever-changing industry. It’s not easy to make and break as a SaaS company. According to a recent study, a software company that grows only at a rate of 20% has a 92% of ceasing operations in the coming future. Even 60% yearly rise could lead to a 50% chance of surpassing $1 billion in revenues.

In such a demanding market and competitive environment, it is important to maintain and study essential metrics. These metrics could help in improved customer satisfaction, increased revenue and better management. The three essential steps to become a successful SaaS Company is to acquire, retain and monetize customers. We’ll discuss about the key metrics derived from these steps to successfully run a Saas company:

  • Revenue:
    Newly founded Saas companies have to bear heavy losses in forming years in lieu of acquiring customers and promoting the product. Customer retention heavily affects the revenue and growth rate and analysing your revenues closely could prove a long way in
  • Customer Lifetime Value (CLV):
    Any software has a or a subscription in it has a lifetime after the expiration of which the customer is expected to renew his account to avail the services. This is the Customer Lifetime Value (CLV). It is the average amount of money the consumer pays the company during the entire engagement. Finding out the ‘average revenue per account’ could also be instrumental in increasing profits.
  • Customer Acquisition Cost (CAC):
    The average cost spent on acquiring new customers is called the Customer Acquiring Customer Cost (CAC). CAC along with the CLV determines if any business is profitable. The number of sales divided by the marketing expenses gives the Customer Acquisition Cost. CAC is one of the most important steps for a new SaaS company.
  • CAC to CLV ratio:
    The CLC to CLV ratio determines the growth of any SaaS firm. It displays the lifetime value of your customers and the total amount spent on acquiring them in one metric. The CLC to CLV ratio helps in identifying successful and unsuccessful campaigns and products.
  • MQL & SQL:
    Marketing Qualified Leads (MQL) and Sales Qualified Leads (SQL) are the base of the SaaS company as it helps them identify potential buyers. The process is time-taking and could range from few days to years. Thorough grasp of lead’s qualifications could boost the business.
  • Customer Churn
    Tracking losses is vital for any business. The customer churn are the consumers who have cancelled their respective subscriptions. Tracking components and reasons behind customer churns helps sales immensely.

Inculcating Data Science and the SaaS Metric could give wings to your new or struggling software business. Taking care of minor nuances could result into big time profits and save huge capital and effort.

Identifying ideal leads and the world of marketing and sales

Identifying ideal leads and the world of marketing and sales

Categories
Ecommerce

Before understanding the complex mechanism of MQL, SQL and how they work it is paramount to understand what a lead is. A lead is essentially a potential consumer who has shown interest in one or other form of promotion. The marketing and sales team are pillars of any organization as they analyze and covert leads into potential buyers. The process of converting a lead to a consumer is a process and often leads to differences between the sales and marketing teams.

Most of the quarrels between sales and marketing revolve around leads. Around 61% of B2B marketers send all their leads to the sales, however only 21 % are qualified. The leads covered by the marketing team are the MQLs(Marketing Qualified Leads) while the leads covered by the sales team are the SQL(Sales Qualified Leads). The marketing team analyses a lead(MQL), if the MQL qualifies as a potential customer, it is forwarded to the sales team as an SQL. While marketing teams are found forwarding irrelevant or dis-interested leads, sales team on the other hand fails to capitalize on a certain lead and tend to ignore around half of the marketing leads.

While there are a number of influencing factors to help speed up the process of transition from an MQL to SQL and eventually a consumer, keeping note of small things could do wonders and bring unexpected boost. The image below shows a few influencing factors and a lead scoring system according to a study from SnapApp:

Lead Scoring is an essential if you want your business to grow. The scoring helps the lead team avoid bothering leads who are not ready to turn into customers yet. It helps in identifying the leads which need attention from the marketing team and helps the sales team identify leads who are ready to buy.

It’s evident that the transition from MQL and SQL is time sensitive. Thorough study and analysis of the buyers or visitors’ journey and qualification cycle could massively help a sales team. Intense auditing and scrutiny of MQLs by the marketing team could also increase efficiency and success rates. Knowledge about the target markets, profiles of existing and potential customers and their behaviours should be updated and analysed regularly. A sync between the sales team and marketing team could lead to better strategy and growth.

ROI Of Social Media

ROI Of Social Media

Categories
Ecommerce

The return on interest of social media handles is a complex process to evaluate. While audience reach, the number of hits on site or pages, total engagement rate and the conversion rate are the most looked forward and tracked metrics, it is still difficult to co-relate the returns through social media because of a number of factors.

Marketing agency are finding it difficult to evaluate social media returns. Almost 28% of marketing agency suggested they struggled to measure ROI, wile only 17% boasted of accurately quantifying the revenue of social media. There are a number of challenges faced by marketing agencies. Measuring ROIs are in themselves an ardent task and often agencies focus on the number of engagement rate than checking the conversion rates. Publishing relevant content timely is also a huge challenge and often agencies run out of schemes or hit a threshold. Developing strategy and campaigns centred around the theme is the most difficult thing and that is why we see innumerable campaigns failing devastatingly for the lack of message or appeal. Lastly, tying realistic business goals to the social media and actively studying the effects of it on the revenue is para mount and often dreads the marketers.

In a recent study, more than 44% CMOs claimed they had not been able to measure the impacts of social media on their business. While 36% agreed that the there had been positive impact on business but couldn’t quantify it, 20% were successfully able to quantify the impacts of social media on their revenue.

Analysing social media accounts and its effect on the business would not only help save irrelevant money on ads but also help plan relevant content and campaign which is the most essential thing to get a healthy ROI on social media handles. ROI of social media depends on a number of factors and companies need to handle multiple aspects for tireless and effective results.

Top Content Marketing Trends to look out for in 2018

Top Content Marketing Trends to look out for in 2018

Categories
Uncategorized

After reading and Experience of last year’s working closely with clients, we have found out that there are two things which very much critical for any Brand to stay on top in 2018

1) Relevant Content Creation as per Customer Persona
2) Mapping or Distributing Content according to Buyer’s Journey

So let’s find it, which are the trends to watch for the year 2018

1) Creation of Niche content

This means if Brands wants to stand out then they have to drill down or have to take deep dive to understand their ideal customers and its behavior. They have to do customer segmentation and deliver the content according to the journey customers are into.

What Brand can do to follow this trend?

So for Exp: If you are targeting Travelers then instead of targeting “Top Travelling Destination” Brand has to be specific on “Top Adventure Vacation for Couples”

Or

A Brand who is into fitness and bodybuilding should explore niche target audience to start with rather than generic. What we suggest by this, instead of targeting Bodybuilding they can identify targets like Bodybuilding for 40+ Dads

2) Adaptation of Voice based search or Content

According to Garner predication, the world is moving to screen less search, recent trends have been seen that younger people have started using voice search on their mobile. It means that your future customers are more likely to use Voice search or Voice Assistant like Google or Apple’s Siri or Amazon’s Alexa.

What Brands can do?

Since there is always a difference between the way we speak the way we type, brands have to adapt to natural language search. Instead of focusing on particular keywords, a brand needs to focus on long tail phrases or answering questions the way Human speak to each other.

Few thing a Brand can do

  • Create more relevant content with long and specific phrases
  • While keeping in mind keywords they have to keep word which speaks to naturally
  • Majority of Voice search is from mobile so have to see content presented very on Mobile devices (Mobile Friendly)
  • For Local “near me” searches, brand has to optimize their content as per local language

3) Smaller but relevant content

It was recommended earlier that if your article is long and having more than 3000 words, it’s more likely be featured on search engines. This is all good if your intention is to rank in SERPs, but remember nowadays social is driving more traffic then lengthy content.

People prefer to consume same content via Videos or Visuals rather than reading them on mobile

What Brands can do?

  • Create Infographic
  • Create Videos related to relevant topics, which can be shared via Social Media Channels easily

4) Change of Influence Marketing

Past all research shows that 90% of people trust on a recommendation by individuals over brands. Even Google trends show steady growth on the influencer marketing YoY basis we are not denying that influencer marketing is one the key areas of the Brand which needs to be addressed while they make their marketing strategy.

But we recommend that instead of aiming for volume, a brand needs to identify influence which has common values and target audience. So key aspect needs to be addressed rather then connecting them only for promotion of Brand or product, a brand needs to collaborate with them for a long-term

What Brands can do?

  • Identify Kep influencer based on Product or objective
  • Create a Campaign directed to that Influencer
  • A Brand can create secondly campaign for influencer to drive awareness
  • Regularly track metrics related to awareness, sales, and Engagement

5) Transparency to Customer

Younger Audience is tired of Push Advertising. They want to associate with Brand which has a transparent approach in terms of communication. So For Exp if the Brand is talking about Organic Food then they want to have more information as well as want to see practically brand guidelines related organic living, health or food

What Brands can do?
A Brand can associate or accredited themselves with some government authority for regulations.
Even Brand release certain research or whitepaper, or do events on a line which they want to position themselves. This way customer directly associates with brand

6) Video will continue rise

Rather than reading large content people prefer to consume video on that natural languages, they can associate them very well. All the content which Brands is creating in form of text should be transferred and convey via video.

What Brand Can do?

A Brand can create Youtube channel where they can explain the feature of products or Application of products or Unboxing and Product demonstration can be done. A video has always been a very interactive form of communication on the internet.

Brand can also cover their events or seminar via Live Video on Facebook or Educate Customer by taking Seminars

Even Interactive Question and Answers Sessions also going to be very helpful

7) Creating and Marketing Content Mapping Buyer Persona

Nowadays cost of acquiring a new customer and retaining them is very vital for Brands. CRM play an important role in retaining existing customers. It becomes necessary for a brand to create a content strategy which engages the audience throughout their life cycle if form email or connecting them to Social media or traditional channels.

Here is what brands can do

  • Creating details buyer persona with their Demographic and Psychographic
  • Mapping the Content around customer Journey and communicating with them on each stage Reach, Action Covert, and Engagement. All stages will require different set of content to be created for customers

That’s all for now

Let us know your feedback on above content marketing trends? Which one do you prefer for your Brand? and Why?

7 Reasons why Indian Brands looking for growth in their E-Commerce business should opt for Shopify Gold

7 Reasons why Indian Brands looking for growth in their E-Commerce business should opt for Shopify Gold

Categories
Ecommerce Shopify

Shopify has launched Shopify Gold in India in 2017, for rapidly growing and enterprise e-commerce websites in mind. These businesses require hands-on support and the ability to handle larger amounts of traffic and transactions to serve enterprise and high-volume customers.

Why we have taken this topic is, as we meet or interact with many brands on a weekly basis and they always ask us why they will opt for Shopify gold as the preferred e-commerce platform against the other platform or even why not they choose from other options which are given by Shopify only at a cheaper rate.

So here are the Seven reasons why a Brand need to Choose Shopify Gold

    1. The Technology:
      The key Benefit of choosing Shopify Gold is the technology they offer to their enterprise customer at Minimal cost considering the large investment brand need to do initially in terms of E-commerce Development, Implementation, Compliances, Hosting, UI / UX followed by Ongoing Maintenance in terms Integration, Database management, Security Patches, Upgrades etc.Imagine there no charge for extra bandwidth, unlimited SKUs, 99.99% uptime, 600,000 orders per minute, and 7000+ CPU Cores. 

      So mainly Brand can focus on their growth strategy and ROI in terms of Conversion optimization, Social or Inbound Marketing

       

    2. Option to Create Multistore:Shopify Gold gives facility to brand to create and maintain their multi e-commerce store.
        • Multistore option to serve their customers in different regions to give personalized product and maintain inventory or product listing for that particular region

       

        • Multi-currency is the need of an hour for High volume businesses to maintain price across region considering costing of Logistics, Payment gateway, customer support etc

       

        • Multi-Language to serve customer in their local languages give personalized touch by delivering content in their local language

       

 

    1. Integration of API with their existing Enterprise software like (SAP/ Microsoft Dynamic CRM etc)Normally Enterprise client always has their existing IT or System and process which generally they won’t like to get disturbed. So always it is advisable to have a solution which seamlessly integrates with their existing Applications. Shopify Gold is exactly suitable for such kind of requirement because, with their Advance API, a brand can integrate their e-commerce store within less turnaround time.

 

    1. Customize UI/UX, Development and Security CertificatesA UI / UX and Developer can give customize experience at the same time checkout experience of their own URL. Which gives them the freedom to build design and solution as per Brand requirement. Apart from this their entire site PCI Compliance with SSL certification with out any additional cost

 

    1. Access to Advance APIs:As Shopify Gold customer, a brand can access their APIs and Shopify Scripts, so their developers can create logic around the solutions they need for the brand for exp. through Discount APIs they can build conditional discounts product wise or Collection wise or Customer wise.

 

  1. Dedicate Merchant Manager:A Shopify Gold customer gets a dedicated account manager 24/7 with priority support who are based in India. So, if a Brand needs any help in terms of any integrations, support or queries. Even there are Indian based Shopify gold partners who can help brands in terms of any customization or integration.
  2. PricingYou will get details of their price from Shopify Gold site or by enquiring them or any partners with customization features but here is what they charge 

    0.4% of monthly sales or Rs. 65000/month,whichever is higher, to a maximum of Rs. 130,000/month.

     

    and Surprise to see if you compare with Shopify plus, which almost half Which is 0.25% of monthly store sales or $2,000/month, whichever is higher, to a maximum of $40,000/month

     

    With same Technology, Features, and Support

     

    Apart from this Shopify India team is constantly working on improving technologies and especially challenges faced by an Indian Brands. So in Near future, we can see many Big or aspiring brands with opt of Shopify gold as their preferred E-commerce platform.

     

    As of now more than 100 Business already using Shopify Gold which includes Brands like Raymonds, Meena Bazaar, Joh and Jacobs etc

     

    All details are available on their Shopify gold website but apart from that if you need any details, Please feel to connect with us.

     

Great traffic but no conversion on your Ecommerce Store

Great traffic but no conversion on your Ecommerce Store

Categories
Ecommerce

First of all, merchant who go online, need to concentrate on developing Brand. Remember one this give your visitor reason to come back to your site, once they visit to your store they should remember you. Try build story around your Brand and product. A Brand needs to think about what sets you apart from all the rest.

The steps a brand need to follow to market their ecommerce store

    1. Define your buyer persona. This means really narrowing down who your customer is and speaking to them

 

    1. Take some time to learn about your target audience and ideal customer and start working towards marketing to them. Build Content around your Buyer Persona you have created

 

    1. Publish your content on all the channel based on where your TG or Buyer persona comfortable in form of Video/Image/Gif/Text. Once you know more about your audience, you can start focusing on ways to encourage sales that would work for them specifically and show you better returns. Don’t be pushy on selling you product instead try to educate them

 

    1. Analyses/Evaluate your activities and modify strategy based on the learning you have got on from your pat activity (This is a constant process)

 

    1. Once they covert engage them with you brand

 

Apart from above there are other things which needs to be done to get conversion on your ecommerce store.

“You can’t wait for customers to come to you. You have to figure out where they are, go there and drag them back to your store.”

 — Paul Graham, Y-Combinator

    • Always test your product by selling them on different marketplaces like Amazon/Ebay etc. do over all analysis in terms of competition, pricing, Service Quality , Demand vs Supply etc. By doing this you will able to know how your product is accepted by your customer and what modification needs to be done while you will launch and market your store. Ask your friends, family, Collegus and employees why or why not they will buy from you through your website.

 

    • Most of merchants in India we have seen are not concentrating on product image and its content. Please note too many stores out there right now look the same and utilize the same layouts and stock photos. It would also give your prospective customers a lot more confidence in your store when they see the extra polish that comes with having good photos. At end of the they waste their energy on paid marketing or even after generating enough traffic their site lacks good user experience.

 

    • You can also set up Live chat / Cues which are basically automatic messages to your site visitors as they land on your store (a greeting message, or a prompt to check out a limited time sale) or when they are about to leave (prompt them a discount). These are some things you can do to improve customer conversion and engagement.

 

  • As we mentioned above create some stories, testimonials… give it some life even social media will help. It goes without saying that social proof is a core driver of consumer confidence. Establishing a loyal user base that’s willing to provide reviews, ratings, and testimonials takes time and hard work. We will cover topic on Social Media and Ecommerce on another blog
  • Try to give unique service around product you offer for exp: customize product, Subscription offer, Cross promotion etc.

To Summarize above Define and Understanding customer and their behavior is an important part of running any business. If you haven’t already revisited your growth strategies in order to attract more customers and sales, there’s no better time than now

Connect with us for free analysis of your Ecommerce store or discuss with us about your pain points.

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