We are on the verge of a transition. The “e-” prefix is becoming the norm for everything. What used to be progressive with an “e-“ prefix, has now become “meh.” Yes, digitalization has brought convenience, attainability, and speed, but we live in a world where speed is not enough. We are hooked on acceleration!
Like everywhere else, the same rules apply to the online retail industry where things had not been so great until a couple of years ago. Because of some key triggers, like the younger generations of shoppers and the pandemic, the retail industry has gone all digital. Today, speed is what matters most and when we consider the fact that the daily lives of the whole globe have changed rapidly in a few months, speeding things up is necessary more than ever for any business. This is particularly true if we are talking about the e-commerce industry where competition is getting more and more intense every day. Speed is the key. Focusing on the importance of being quick, we are going to share some tips on how to win big in the e-commerce industry in this article, using our experience in the area.
The Millennial’s Choice: Fast Order Delivery
Although building from scratch used to be a massive operation a couple of years ago, with industry giants joining the game fast order delivery is becoming a norm of everyday life, especially for the younger generation of shoppers. Fast order delivery has always been there, but it was in limited areas and mainly to be found in the food delivery industry. However, thanks to the immense rise in demand for fast order delivery options by millennials, the FMCG industry began considering implementing a new model that would begin a new era for the whole e-commerce industry. Yes, millennials and the younger generations of shoppers are willing to pay more for a more premium and convenient service and, obviously, early adopters of the system are profiting big time. According to Gartner’s latest reports, 68% of customers want to have a fast-delivery option and, even better, express e-commerce companies earn an average of $11 more per user compared to other e-commerce platforms. In short, express order is the future, but offering the option alone is unfortunately not enough to meet demands.
Delivery Speeds are Significant, so is Connection with the Customer
When we think about speed, the first thing that usually comes to mind is shortening the delivery time, but there is one other thing that customers value in the modern age. This is the ability to reach brands whenever they want. Given the circumstances, it is essential to build a business that puts communication in the first place. Especially in enterprises that focus on fast order delivery, being able to inform customers about their order and the delivery process is a big concern. Of course, since it would be nearly impossible to hire a big enough team of customer representatives, automating the process is the most reasonable way to go. For example, in on-demand delivery models, it is possible to inform the customers about their order status, give them an estimated time of arrival, and even show them a map on which they can track their order, answering the majority of potential questions. With Ubimecs Express E-Commerce Platform, you can have all of this process automated on day one.
Be Your Customers’ BFF with a Personalized Experience
One of the biggest topics discussed by industry-leading marketing companies is personalization. With cutting-edge data-analysis tools, it is now easier than ever to implement online platforms, and the best part is that the process is entirely automated. Especially with the new generation of customers joining the market, the impact that personalized offers make is incomparably profitable. According to Dynatrace’s article, in-house marketers report an average rise in online sales of 19% from personalizing web experiences. Digital agencies have an even higher number for the impact of personalized offers: an average increase of 21%.
The core of our tailor-made platform, designed to meet every need of an on-demand delivery business model, is data. In time, the platform learns about your customers and creates special offers based on their locations, shopping behaviours, and demographics.
Make it Future-Proof with Loyalty Programs
Luring a customer into choosing your brand is easy in the beginning, with first-time offers of coupons and discounts. The challenging part is keeping your customers loyal. Of course, there are many loyalty program models that work, but in an environment filled with competition things become difficult. According to Invesp’s study, 20% of a company’s profit is generated through loyalty programs. The study also states that 84% of consumers expressed that they were more likely to stick with a brand that offers a loyalty program. Yes, there are many paths to follow in building a functioning loyalty program, but what matters most is analyzing the data correctly.
As we stated above, our Express E-Commerce Platform is fueled by data, and the analysis tools we’ve integrated give error-proof insights into building the perfect loyalty program to fit the demands of your customers. With daily, weekly, and monthly reports, you can turn your loyalty program into one of your top profit generators.
Offer Every Payment Method Possible
The digitized world is not what it used to be in terms of online payment methods: offering MasterCard and Visa options alone are nowhere near enough. New-age mobile payment methods, PayPal alternatives, and mobile wallet applications are becoming more and more popular every day, especially in the developing world where the underbanked and unbanked population is immense. Considering the needs of the new-age customer, giving your customers the option to pay with whatever method they prefer is essential in building an e-commerce business. Our Express E-Commerce Platform lets you integrate any payment method you need: the possibilities are limitless!