In 2014, $1.5 trillion worth of products and services were bought through e-Commerce by buyers by means of desktops, tablets and mobile phones, according to eMarketer. In 2013, the development of e-commerce has currently considerably outpaced that of brick-and-mortar, globally. The performance is remarkable, however not surprising, and we will remain to see around the world e-commerce growing at an annual rate between 13 to 25 %.
By the time you have finished reading this paragraph; 1.2 million USD dollars of online sales have been negotiated. As disruptive as it sounds, federal government worldwide has begun taking actions to motivate companies to go digital so as to tap the bandwagon.
The inspiration behind the incentives from high-level is to advance towards a wise nation- a term coined to associate a well-wired nation, where intelligence allowed by digital innovation assists in the economy and social development. In the context of commercial usages, many of us sadly are disillusioned by the prospects of "upgrading" from brick-and-mortar to having a web presence simultaneously. Many not only failed to see a boost in profits, but likewise dealt with declines in both efficiency and profit due to the added overhead to maintain the web presence and non-traditional customer interaction, if any. Feel free to read more on gigleague.com .
Reality be informed, stats show the optimism of additional sales channels that e-commerce gave businesses. However, few individuals dig deeper into the stats to discover that most of the transactions are controlled by retail giants like Taobao from Alibaba Group, Amazon and eBay-the integrated of the Big 3 used up 30 % of the total online deals. One may then stop briefly to think about, "wouldn't it then make more sense to tap on these platforms instead of developing my own online platform?”
Many little and medium-sized enterprises believe that branding and control are essential factors to do their own, but failed to understand their web presence may never ever be seen. To make matters worse, in developed countries like Singapore where policies have stepped in to protect the personal privacy of consumers, traditional marketing strategies like mass-SMS and e-mail marketing are restricted to those who opt-in just, hence substantially limiting the swimming pool of targeted prospects. This implies that the normal way of directing traffic to one's online platform or site is no longer working.
Companies need to realise that having a digital presence is not a safe house or a blue-ocean technique. Rather, doing so welcomes an additional type of competition-a global one. Introducing an online presence without understanding how web users act can be a stumbling block for many. Issues like site ranking, page packing speed, user-friendliness and delivery process are the minimum to look after, let alone issues like online credibility management and cross-platform combination. Some chose to shy away from the Internet for simplicity.
On the other hand, having the ability to harness web technology can create brand-new sales chance through direct sales, brand-new clients’ acquisitions or perhaps discover opportunities for brand-new product or service-in demand through information analyses. Here are a few suggestions to both high-level stakeholders driving the clever nation roadmap, and business to salvage exactly what they have and those who are just beginning:
1. Permit people search for your company online quickly.
Ignore the most stunning design or digital technology if are not on page 1 of Google today. This is the very first thing you have to do; else your competitors are taking all your leads. Consider this, if you are trying to find the best food in town, how often do you browse beyond the first 2 pages of Google? Unlikely.
Misconception # 1: I'm far too late into the video game and my site is not going to remain in the leading page.
Absolutely not. SEO, a type of digital marketing option, is the process of enhancing the visibility of a website or an online platform. SEO includes a series of finest practices, excellent principles to the website architect and fresh material production. Lots of attempted developing contents but forget about the very first 2 aspects. Bearing in mind the guidelines and implementing small steps along the method are keys to success. SEO can be utilized to target the ideal audience in the right market through appropriate keywords. This has actually enabled the SEO-savvy companies to broaden into abroad markets without being physically present in the international country through leads from abroad. It can be time-consuming and needs knowledge to execute well so make certain to work with a SEO expert who carries out white-hat techniques just. The initial intent of producing a web presence is to broaden your radar, and it does not fulfil the function if those who see your site are already your existing consumers.
2. Cross device compatibility and marketing.
A quick medical diagnosis is if a mobile user has to zoom in to see the contents or links are too close to one another, most likely the website is not mobile-friendly. Keep in mind: On April 21 in 2015, Google is launching a brand-new ranking algorithm to offer top priority to mobile-friendly sites.
Myth # 2: I have a mobile app and site that can accept payments from my clients. I have for that reason used Omni-channel strategies.
Omni-channel is multi-channel retailing principle that has been misused frequently. One underlying assumption that is often neglected is that the different sales channels ought to provide a merged and consistent customer experience. This consists of both user experience and marketing, and any one channel that "mess up" can instantly harm the image of the company's brand.
Maybe what people are truly losing out is the exceptional value of identifying the different sectors of your clients by the type of channel they made use of. This indicates that a substantial percentage of your consumers may choose to use mobile to make transactions. The user patterns can also make a difference. The same person could be using mobile in the day and back to desktop in the night time. Such section recognition can truly provide insights to your marketing method as you may wish to personalize ads or rewards, and even by the time of day for different channels.
Doing so therefore, can possibly maximise your income generation daily, and also validate the ROI of your marketing costs, leading to unanticipated rise in your profits for the entire year. Even though there are fairly a variety of tools offered in the market, the take-up rate is low due to the absence of awareness. If time does not permit, always employ an expert digital marketing expert who comprehends your company.
3. Social development.
Customer-centric company design seems like an out-dated concept when we are currently seeing active movements in social co-creation where clients help business to define its brand-new products and services. One excellent example is Threadless, where designs of T-shirts are developed and picked by the online community. Another is the FreeStyle device, a brand-new generation of dispenser that enables individuals to mix and match flavours to create more than 100 types of drinks for the brand owner to find chances for brand-new product launches that can appeal to the mass market.
Myth # 3: My Company is not in the retail or food & beverage line. Social production does not use to me.
Absolutely not. Look at Microsoft that uses co-creation to develop brand-new generation of advertisement formats, FedEx crowd-sourced ideas to provide live tissues for organ donations across borders, and many more examples. Co-creation at its lowest level can be through crowd-sourcing ideas from your workers to fix internal issues or even find new opportunities through their interaction with clients. At a higher level, crowdsourcing can obtain concepts to enhance service experience, motivate new product or service development. The key is to interact with the online neighborhood to improve their opinions, insights and wants.