One of the biggest fears of any small business owner is the customer going to the competition. So they're often tempted to drop prices. Especially when the client says, "So-and-so has this cheaper." Most businesses try to match "So-and-so's" price, while the correct answer is, "That's great. Then go buy them from So-and-so."
A productocracy is "a product or a service that has a distinctive value skew in the marketplace which incites unsolicited recommendations from its current customers, creating new customers."
People often ask me what's the difference between e-commerce and digital marketing. I'm always stunned by this question. To me, the answer has always seemed obvious and intuitive. Until I actually thought about it.
It's 3 AM. The hour of poets, artists, writers, and passionate lovers. No people bustling around, talking on the phone or shouting at their kids. No cars speeding through the busy streets like workers in an ant farm. It's quiet. Only a powerful thunder occasionally breaks the silence with a loud roar, as if to remind me the outside world still exists.
E-commerce is rapidly expanding. So much so, even traditional retail behemoths like Walmart want in on the action. It should come as no surprise e-commerce now accounts for 16% of all sales in the US alone. In 2019, it was a 601B dollar pie, and everyone wants a piece of it. But what drives the growth of e-commerce? What is the reason behind this rapid expansion? Today, I'll give you the answer.
I shut down my browser and left the room. After looking at bad websites for over an hour, I needed a nice hot cup of jasmine tea to calm me down. While I was waiting for the water to boil, I had an epiphany. Many of the reasons why over 80% of e-commerce businesses fail have to do with financial and business management (d’uh). But I’ve also seen my fair share of horrible marketing practices. Which inspired me to write this article. Here are 5 reasons why your e-commerce marketing is failing and how to improve.
Breaking into e-commerce isn't easy. It's still a growing field, but there's also a lot of competition in almost every conceivable niche. This is what makes e-commerce marketing all the more crucial.