The information explosion in recent years leads to the fact that Ecommerce market has changed from fertile market into extremely competitive one. This situation also means that buyer bargaining power is stronger than before; they have more choices among hundreds of sellers and products.
Internet helps every seller hold the effective tools in their hand and available internet marketing channels is the typical example. However, there are both sides for everything, we cannot deny the benefits of online marketing, but too much channels may make sellers confused and just focus on some special part of the big picture. A common question that they usually forget is what different things can make the business outstanding than other.
So what is the right answer for the fact that your eCommerce competitors sell more than you? It is so simple, just because they ask themselves why a customer would buy this product from me and not from my competitor.
Choosing anything among your products and answering the question above as objective as you can, if you cannot find the exact answer, it is the trouble your business is stuck in.
When mentioning this issue, we can list a lot of reasons why a customer might prefer to buy a product from your online store instead of your competitor’s, here are several reasons:
1. You have better prices
Better cost does not mean lowest cost. The truth is that most of customers usually care and choose the products with low price, but when the price difference is not noticeable, they will pay attention to other factors rather than just price. Therefore, they could buy your products even when you are not the sellers who offer the lowest price.
2. Your website feels more secure
There are some typical trust evidences customers may see. Among multiple checkout options you offer, customers can choose freely the one they feel satisfy and assured. A real phone number is also the way to show that your company is legitimate and operates for quite some time. You might have physical locations as well, maybe even in your customer’s city.
All of those data need to be achieved easily by customers because even if you are a famous company but it is quite difficult to find basic information about you, your reputation is also worthless to customers. The trust signs need to be easily noticeable and placed where customers expect to see them.
3. Your website is faster
One of the smartest investments is in improving site speed, which many online stores can do for their conversion rates.
Speed is really important in business. Customers expect your website to load fast. Therefore, offering the fastest website among competitors, you will take some special advantages in this competition because will be much more likely to come back to that online store and buy from them again instead of going to a slower store that sells the same product.
4. You have better customer support
Customers really take care of your customer service, how you will support them. They may send questions to you through e-mail, contact form, real time chat, telephone, Facebook, Twitter, other social networks and so on.
If you do not consider about those channels, you lose your potential customers.
5. You have better reviews
When finding about any product, what buyers care is not how good you talk about your product, what they really pay attention is the reviews from other former customers because it is their real experience about products. If a customer can choose between two stores that sell the same product and one has reviews while the others don’t, customers will be more likely to visit the one with the reviews.
6. You have better navigation and site search
When you provide better prices, a faster, more secure website, but your products can not be found, how and where can customers get them? Thus, navigational hierarchy is a prerequisite to deal with your products. You need layered filtering options and smart site search suggestions. Also check out this case study where a change in site search engine resulted in 338% increase in revenue from site search users.
7. You’re easier to find
Even when you can satisfy all factors above but you cannot easily be found you will not get a sale. Customers are not patient enough to browse the whole internet just to find the best possible deal Make sure you are using your advertising money optimally (check out how to allocate marketing budget in eCommerce business).