With the advent of technology, there has been an increase in retail companies going online. The e-commerce industry is getting more competitive, as all companies are working on building their online structure. Hamiz Khan gives insight based on his experience for entrepreneurs to scale up their e-commerce business.
Social Media Strategy
Use social media platforms to increase the visibility of the company and the product or service it sells. The strategy should be to market them to the target audience through online platforms such as Facebook, Instagram, Twitter, among others. The cost saved on extensive marketing can be re-allocated to other functions in the company.
Build Advertising Strategy
The company should be able to focus its advertisement on its target consumers. Market research and analysis can help narrow it down to its core customers. By not advertising at a macro level, the company can save a lot of money. The money can then be diverted towards other functions in the organization, thereby helping it grow.
A company should make constant efforts to improve its product through research and consumer feedback. An effort to increase sales would be useful for a company to acquire new customers. It should also pay attention to after-sales services, which would help retain its current buyers.
Mobile apps need to be created, business owners need to learn how to create apps because it helps a lot. With an app, we do over $30,000-$40,000 extra in sales per month. These sales come directly only because of the push notifications and downloads.
Build the hype, get the people, make money.
A problem is people who are only using Ali baba and Amazon for sales will soon need to change their ways. Dropshipping is dying fast. Consumers are getting smarter and everything is now more available to the public.
My insight to anyone getting in e-commerce is to strictly stick properly branding and creating a brand instead of finding other products online to resell.
Dropshipping was a bubble and it will soon pop.
Companies should strive to provide quality online products and services. A happy consumer will be a loyal customer. Building trust is an important attribute a company should be looking to achieve. Many companies are selling the same type of product on their websites, and the competition is tough. Brand loyalty is imperative for customer retention.
Entrepreneurs can consider these pointers by Hamiz Khan as valuable guidelines to expand their e-commerce presence. They can help entrepreneurs grow and scale new heights in their respective businesses.