“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”-Jeff Bezos, Founder of Amazon.com
“With so much competition, it is very difficult to succeed in the digital space. I am thinking of setting up a physical store instead of setting up an eStore.” This was told to me by a distributor who sells hardware products. At the end of the meeting, he understood that regardless of setting up the physical store or not, he has to be there in the digital space, just for a simple reason that it is more cost-effective and isn’t as hard as it sounds. We at Altius are in the process of setting up his online stores.
Let me explain the 4 simple steps that gave this business owner to take the online route.
1. Open your shop
Opening a physical store and an online store is not very different. The first step is to find the right location and just set up the shop.
In case of an online store, it is nothing but choosing the right domain name and the right platform to set up your store. You can read about how to find the right platform here.
2. Spread the Word Out
The next step after opening your shop is spreading the word out that you are now open. You may choose to advertise in the local magazine or distribute flyers, local TV Channels, etc.
It is the same in case of your online store as well. Choose the right channel (Social Media, Google Adwords, Retargetting, etc) and spread the word out.
3. Host your customers
Now that you are open, and have spread the word out, you have to make your customers feel comfortable, for which, you set up a nice name board designed, have signboards placed all across, guiding your visitors to the right place where they can find the product they are looking for (for example, Men’s Section, Women’s Section, Kid’s, etc)
This process is also the same when it comes to an online store, it is called On-Page optimization. You help your customers find the right information on your website, set up the right Taxonomy, fill your product pages with an adequate amount of information, helping your customers to make a buying decision.
4. Price it right
This is the final step where you price your product right and offer discounts wherever possible. This is a step that the business owner has to carefully and calculatingly take. Price your product right and in a way that you are highly competitive.
It is as simple as that. The process hasn’t changed at all, it is just the medium where we sell has changed.
Should you need any guidance on how to set up / get more business out of your online store, please ping me or write to me on arun.venkatraman@altiussolution.com. You might want to check out our website and fill up the contact form there as well, our website address is www.altiussolution.com
Arun Venkatraman
Helping CXOs succeed in the digital era by helping them capitalize on data and technology
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