Competing with major e-commerce businesses can be difficult for many smaller companies; even with all the resources available these days, it can seem like there’s only so much that can be done to find a little breathing room in the market, especially during the booming holiday season between November and April. With major retailers like Amazon dominating the landscape, it’s often overwhelming for small business owners to handle their end and ensure continued growth. However, it can be done. As with any business endeavor, the devil is in the details.
For accountants who are helping a small e-business find sustainable growth, there are a few things to consider. Setting up a website that’s easy to navigate and has engaging content is crucial since that essentially acts as the face of the company. It’s also important to analyze the competition and find out what their marketing strategy is and where their weaknesses lie. Doing a bit of homework can go a long way toward helping a small business get a leg up.
Here are a few things to consider when it comes to helping your small business clients find sturdy ground inside the world of e-commerce.
Do Some Research
Regardless of the industry, conducting some research on the competition and the market itself is essential, as it will help your clients figure out what their customer base is looking for, how the competition markets itself, and where a small business can stand out against the big guys. One major thing small companies have that the major retailers often lack is the ability to address customer service issues right away and on a personal level. Those little touches can often go a long way with people in this age of online shopping and faceless transactions. So, make a list of things to check out and share these with your clients.
Create a Stunning Website
Large online retailers have the benefit of websites that are reliable and customer-friendly, allowing shoppers access to their services and products around the clock. If a smaller business is looking to compete, their website needs to match what the others offer. InMotion, for instance, is a great web-hosting option, as they offer a 90-day money back guarantee as well as secure and dependable hosting services. It’s important for small businesses to check out all the options offered and choose the one that makes the most sense and for the best price.
Offer Something Different
It can be difficult to compete with massive online retailers that offer everything under the sun, but a smaller business that focuses on specific products will have an advantage. When a business narrows the field, they ensure they’re great at what they do. Being knowledgeable about a few things is often a major benefit for smaller companies over offering a huge array of items that aren’t necessarily in their wheelhouse. As such, encourage your clients to focus on a smaller array of items, or to bring in unique or handmade products that can’t be found anywhere else. By maintaining a niche, they’ll also save money since they aren’t holding onto an unsellable inventory.
Make Customer Service a Priority
Customer service is a big part of any business, but for larger online retailers, it can often be difficult to maintain or personalize. This is one area where small businesses have an advantage, as they can offer a much bigger scope of service. For instance, they might create a personal shopping service, offer discounts through a loyalty program, or follow up with customers via email to find out whether they’re satisfied with their purchase. They can also offer a variety of payment options to help customers save time.
Small businesses may feel that they can’t compete with bigger chains and online retailers, but there are several ways to make it happen. Looking at the details is crucial, as is taking a look at market analysis to find out what the competitor’s moves are. Creating a good plan and a killer website will ensure your clients’ growth and continued success.