January 31, 2017
The success of first-generation e-commerce startups has inspired many to enter into this sphere.
In fact, according to 2014 survey reports, there were between 12 – 25 million online stores running worldwide. And the number has grown over the past couple of years. This certainly makes e-commerce a pretty competitive and saturated industry. Therefore it is likely that as the prospective startup, the niche market you are targeting already has a vast number of established competitors.
Saturation also indicates Huge Demand
Though saturation point may seem like a dead-end to most startups, but it also indicates the huge demand, which means opportunities. And if you can discover those opportunities you can gain good market share. Let’s take an example.
Suppose a local town has plenty of restaurants. There is a fierce competition between them, and they are fantastically fulfilling people’s dining-out needs. It seems that there is no overwhelming need for another restaurant. Yet, every once in a while you see a new restaurant opening and succeeding. So, how do they do that?
Their trick to stand out in the market is pretty simple – offering something better or different. The same tactic can be used by your e-commerce startup to succeed. Besides, being a technology-based startup and putting in regular SEO efforts gives you more options to get ahead of your competitors by bringing in some innovative ideas says USA SEO consultants.
So, here are some various tricks & tactics that will help your e-commerce startup capture a saturated market.
Build Upon the trend
E-commerce might seem as a saturated sector but there are so many reforms possible in this industry that any new player can easily secure its place in the market by capitalizing on the ongoing trends.
The hottest on-going trend is m-commerce. People are increasingly using mobile devices to do shopping online. It was estimated that in 2015, 40% of e-commerce transaction took place through mobile devices, and definitely, the number has increased in 2016. By targeting on mobile shoppers, e-commerce startups can establish a firm standing for themselves in a competitive market.
New players can also enhance the shopping experience to capture a good marketplace. Customers are becoming more friendly to advanced technology and expect seamless shopping experience from online retailers.
Set Yourself Apart
Customers want more options and uniqueness from online retailers. So, no matter how overpopulated your market is with established brands, being different will surely attract customers to your business.
However, it is not as simple as it seems for it requires creativity and commitment. First, you have to figure out what makes you different -, better discounts, quicker delivery, more product categories, better product quality, quicker returns etc.? Whatever sets you apart from your competitors, make it your USP( unique selling proposition) and pay attention on it to get customers’ attention.
Apart from that create a unique, enticing design of your website that makes your online store stand out visually.
How will you make a good marketplace in a saturated sector? The answer is by adding value to the services and products you offer. For adding that value, identify the customer pain points, or put yourself into the customer's shoes and think that way to come up with ways to enhance the overall customer experience.
Do the SEO
It is really important to focus on search engine optimization also, along with paying attention to customer experience. Find out most popular search terms for your targeted niche market, and optimize the content of your site with these terms to appear higher in SERP. Additionally, reinforce your SEO campaign with social media and content marketing. These marketing campaigns will also allow you to connect with your target audience and create a greater perceived value for your brand. This strategy will definitely help you stand out in a saturated market. If you can’t handle seo in- house, you can hire the best SEO company in USA.
Choose the Right E-commerce Platform
This the question that every aspiring e-commerce startup has in mind. In the real world, there is no as such best e-commerce platform but only the best match as per your individual needs.
Choosing the right e-commerce platform may not help you directly in penetrating the saturated market but it will definitely support you to act upon the other tactics mentioned above. For instance, a customizable e-commerce platform will allow you to improve the shopping cart experience which in turn will help in attracting more customers. Or if the platform is SEO-ready, it will be comparatively easier for your store to rank higher in search results.
Therefore, it is critical to ensure that the e-commerce platform you are looking for your online store is, SEO-ready, mobile ready, customizable, offers social media integration & also other key marketing & customer support tools.