The COVID-19 pandemic has undoubtedly reshaped the landscape of shopping, placing a remarkable emphasis on the need for strong and compelling eCommerce experiences. Research from McKinsey & Company reveals that businesses are hastening their shift to online platforms, pushing forward their digitization plans by up to seven years. Transitioning a brick-and-mortar store to an online presence, however, is not a straightforward task. It demands meticulous planning, a thorough understanding of customer preferences, and a long-term vision for your brand. From optimizing your website to refining your marketing strategies, businesses require a well-rounded plan to successfully leap into the eCommerce world.
1. Evaluate Customer Requirements
According to the PwC Global Consumer Insights Survey, safety tops the priority list for 49% of urban consumers, with 86% likely to continue their online shopping habits even after the lifting of pandemic restrictions. Consumers are prioritizing both health and convenience, which is leading many businesses to offer services such as click and collect as well as curbside pickup. By August 2020, a significant 70% of Square sellers were providing contactless payments, and 40% were accepting online payments. A survey from Incisiv indicates that 85% of shoppers have increased their usage of curbside pickup, 79% believe contactless pickup is crucial, and 80% expect to utilize these services more in the next six months.
To meet these evolving expectations, business owners should consider repurposing part of their premises to better support these new services. Incisiv found that on-demand delivery enjoys popularity among 90% of shoppers. Thankfully, there are numerous solutions available for expanding delivery and pickup options, many of which can seamlessly integrate with platforms like Square.
2. Refine Your Business Strategy
Before diving into the digital realm, it’s essential to reassess whether the goals and deliverables in your original business plan still align with your brand value. Leveraging website and social media analytics for demographic and interest data can help identify who your current customers are and if you’re targeting the right audience. The shift from a physical store to an online platform may bring about changes in customer needs and demands. Your customers’ purchase patterns may shift, and your clientele may span across the country, rather than just your local area. This transition may necessitate adding new distribution channels such as an online store, shoppable social posts, pickup and return locations outside physical stores, on-demand delivery, and even regional or nationwide shipping.
Budget allocation also warrants careful consideration. As you transition from a brick-and-mortar store to an online presence, investment in website and platform improvements, digital marketing, and fulfillment will become paramount, while upkeep and staffing at physical locations may take a backseat. Moreover, you’ll need to address specific issues pertinent to online businesses, such as data privacy management, handling online payments, understanding sales tax variations in different states, protecting against eCommerce fraud, and effectively communicating your value to customers.
3. Plan Your Product Selection
Evaluating your product range to see if it holds relevance in the current market context is crucial. Factors like shipping and logistics may influence whether all in-store items can be made available online. Analyzing past and present sales data can guide inventory decisions and provide insights into which products to spotlight. Repositioning your offerings to highlight aspects like health and safety, which are increasingly critical to consumers, can significantly impact sales.
Additionally, exploring options to diversify or alter your product range could be beneficial. Many businesses have creatively pivoted to meet market demands; for instance, some restaurants began selling family-size meal kits and grocery items during times of high demand. This pivot not only fulfilled a market need but also helped sustain these businesses. Other innovative examples include a photo booth rental company shifting to sell gift boxes from local businesses, skincare and beauty experts selling skincare tools online, and clothing designers creating outfit-matching masks from extra fabric.
4. Revise Your Marketing Strategy
In the digital landscape, marketing shifts from physical interactions to online engagements, making digital strategies all the more significant. Identifying the appropriate channels to captivate your ideal clientele is essential. With the increasing trend of researching products online, adopting a digital-first approach is crucial. Social media and email marketing, which you might already be using, will now play a more vital role, particularly since face-to-face interactions are limited.
Building an online community through social media can be impactful. Wineries across the country have successfully hosted virtual tastings on platforms like Zoom, beauty businesses have conducted makeup and hairstyling tutorials, yoga studios and fitness centers have switched to online classes, and food purveyors have started offering virtual cooking classes. The U.S. Chamber of Commerce highlights that driving traffic to your online store and ensuring outstanding service can help forge a long-lasting community of potential customers.
5. Enhance Your Website
The COVID-19 pandemic has undeniably transformed the shopping world, making powerful and engaging eCommerce experiences more vital than ever. Data from McKinsey & Company indicates that businesses are accelerating their move to digital platforms, advancing their online strategies by as much as seven years. However, shifting from a traditional brick-and-mortar store to an online marketplace is no simple feat. It requires detailed planning, an in-depth understanding of customer behaviors, and a strategic long-term vision for your brand. This transition involves various elements, from enhancing your website’s functionality and user experience to fine-tuning your marketing tactics to reach a broader audience. Effective eCommerce strategies also require impeccable customer service, reliable product delivery systems, and continuous adaptation to emerging technologies. With a well-rounded and comprehensive plan, businesses can successfully navigate the complexities of the eCommerce world and thrive in the digital age.