Selling to end consumers can be a tough game. In B2C, the focus is on all the customers as one segment. The marketing strategies are generic. The product design, pricing, promotions, and distribution (the 4ps) are directed towards maximizing the impact on the entire market segment comprising of all the customers – both existing and potential. Thus, marketing decisions have far-reaching consequences. A good move will have as much impact as a bad one but in nearly opposite ways.
Challenges in B2C eCommerce
With the option of eCommerce, convincing customers to buy digitally is the first challenge as consumers have the option of buying it physically or digitally in the case of most products and many services. Secondly, there is intense competition and little scope for creating USPs.
A big hurdle from a numerical perspective is that the average ticket size is low in B2C and puts a lot of stress on the cost of acquisition and eventually on the cost of the product as overhead. The simple business math is that the cost cannot be allowed to cross the returns. Thus, it is important not to start burning money in the pursuit of marketing and acquisition.
Digital marketing may sound fancy but the first challenge for B2C businesses here is to do customer profiling and identify where exactly they are in the online world. The word ‘online’ may be a small one but it is a vast virtual world. From search engines to social media platforms, customers could be simply anywhere. Identifying the right places to advertise is the key.
Next, akin to marketing in B2C retail, digital marketing in eCommerce also carries an extensive impact. Once a digital marketing campaign goes live there is no turning back – the impact is already done to the targeted audience. If everything was conceived right, only then the desired results will show up.
Then there is the factor of cross channel completion. While devising a digital marketing strategy, it has to be taken into consideration that apart from eCommerce competitors, there is also local competition. Especially, in certain product categories like medicines and vegetables, it is tough to be impressive there with digital marketing alone.
However, the economies of digital marketing allow businesses to reach a wide audience and make the right impact with the right campaign. This eases up the stress of acquisition on the low average ticket size in B2C. The key is to have the right digital marketing strategy.
YRC has always been focused on B2C businesses. We understand the challenges involved here and how to work around them. We have been catering to the retail & eCommerce industry since 2012. We specialize in Digital Marketing Techniques for the retail & eCommerce environment.
Our Organized Approach
Success rarely comes with one stroke of the brush. The methodology adopted in implementing a plan or a course of action plays a vital role in getting the desired results. The better the methodology is, the better the output will be. A simple instance would be painting where artists have to make use of several brushes and colours to get the final picture as desired.
Our principles, practices, and procedures are laid out which has proven to ease our work while lending transparency to our ways of working. Such an approach brings us closer to our clients by which we act more like an internal extension than an external agency. Because of the transparency, our clients do not face out-of-control situations as every action of ours is on their fingertips.
Being a process-driven company, we have in place defined policies and SOPs to manage our day-to-day in-house operations. Having an operational roadmap helps us in maintaining the standards of performance and output, in reducing the scope of error, and in staying true to our commitments.
- Data Analytics is goldsmithing :
They say data is gold. We say data analytics is goldsmithing. Let the numbers decide your success. With the aid of data analytics tools, our strategic approach is not only on achieving but also on retracting when things are not going as intended. We work with early warning signals to avoid investments flowing into campaigns or strategies that are not working.
- Target Market Research :
Being Before a product or service can be positioned, it is very important to define who they are for – the potential customers. This is done through segmentation and targeting. A market in its entirety may not necessarily be the potential market to be targeted. It needs to be segmented based on relevant parameters – demographic, psychographic, geographic, etc.
This helps in identifying the most relevant group of customers or the target market segment. Once the customers are identifiable, it becomes easier to assess the value or utility of a product/service to them. Getting into customers’ shoes is very important before selling efforts are made. A process- driven company, we have in place defined policies and SOPs to manage our day-to-day in-house operations. Having an operational roadmap helps us in maintaining the standards of performance and output, in reducing the scope of error, and in staying true to our commitments.
- Use of Technology :
Digital marketing cannot be managed using software applications meant for regular office work. We put to use advanced tools and applications to plan and manage our digital marketing campaigns.The use of the right tools and technologies helps us make our processes seamless, error-free, and less human-dependent. It also helps our teams deliver quality time on monitoring, feedback, planning, analytics, and improvisations instead of non-value adding activities.
- Reviews & Reports :
Reviewing and reporting are integral to keeping projects and processes on track and aligned with the goals and strategies. We believe in regular review meetings with our clients to keep them updated on the overall progress, critical achievements, deviations, etc. We have a live reporting system that allows our clients to track the progress of work, not periodically or daily but in REAL-TIME.
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