By Synnove Vandal
Amazon is one of the world’s largest online retailers. The company’s expansion into more than 12 industries shows no sign of slowing.
Amazon’s sheer volume and reach can be intimidating for many smaller companies.
But annual consumption in emerging markets is predicted to reach $30 trillion by 2025. There’s a lot of room left for new brands to penetrate emerging markets.
Three elements for growth
Taking the time to build a strategy can help you in the long run. Keep the customer center as you think through ideas.
Look at the data and set your brand apart from others. What niche do you fit into?
1. Use data-driven marketing strategies
Data-driven marketing uses “big data” to predict consumer behavior. Think long-term. What performance indicators should you track?
Marketing platform company Emarsys suggests including these elements in a data-driven strategy:
- Automate and integrate – Maintain objectives but allow for personalization.
- Collaborate across teams – Share information and invite feedback.
- Monitor industry changes – Follow the competition and market trends. Remain open to change.
- Continue to measure – Constantly monitor and adjust. What’s working and what should go?
2. Build a strong online brand
Digital interaction influences 70 percent of purchases, according to Ad Week. Driving traffic to your website is only one part of the equation. Building your brand will lock in purchases.
Branding is where business meets emotion, engagement and expectation. It’s a powerful tool for differentiating yourself from other products.
When thinking about branding, consider these elements:
- Put the customer on centerstage.
- Tell your story.
- Capitalize on change.
3. Focus on customer experience
Why do customers shop on Amazon? It’s quick, easy and secure.
You can implement the same customer service standards as Amazon. Allowing reviews and providing free shipping and returns are obvious customer-winning techniques.
Customer experience is essential in customer relationship management (CRM). Creating a long-term plan will help you build repeat, loyal customers.
Remember, Amazon is not untouchable. What makes your product unique?
To read more about ways eCommerce brands can compete in an Amazon era, click the link below.
Four Ways Fashion E-Commerce Brands Can Compete with Amazon – Revecka Jallad, Forbes
Synnove Vandal is a Client Manager at InTouch Manufacturing Services, a QC firm that performs product inspections and factory audits in Asia for clients in the US, EU and Australia.