According to Colliers, it is estimated that e-commerce in Myanmar is estimated to be worth 9.16 billion MMK in market value. Moreover, with a high mobile phone and internet usage and a growing number of many physical shops setting up Facebook pages to reach out to buyers online, e-commerce is undoubtedly one of the most valued industries with room for potential growth. With that in mind, we have put together some of the comprehensive strategies to ensure success when setting up your online store.
1. Making it easy to find you
95% of people don’t go past the first page while searching for products. It’s not surprising if you think about it, as people are also more likely to buy stuff that is located on the shelves at eye level. Just like that, if you want your potential customer to see your products before your competitors, it is important to optimize your website pages and make it SEO friendly for your products to be seen, and seen often.
2. Fix your analytics & Measure Everything
As an online retailer, you need to eat and breathe web analytics. Having access to strong data collection setup in services like Google Analytics from all the areas of your online sales gives you insights to make better decisions faster. You want to be able to see what your customer buying journey, the measure of interactions it takes before purchase, or their preferred price ranges. With this being said, understanding these trends and drivers of your sales channel will allow you to maneuver your offerings for a profitable business.
3. Automate personalization
A shocking number of e-commerce companies simply don’t follow up with an email after a cart has been abandoned. CRM software like HubSpot is one of the options for you to follow up with email your goods and nurture your customers with the sequence you set. The automated actions such as personalizing your message by including the items that are relevant to customers or items that are left in the cart by addressing their name can lower your abandoned cart rate. By sending them a personalized email, along with a photo of their abandoned item can not only make the customer recover the purchase but also more likely to be a loyal customer.
4. Optimize for Mobile
As the mobile adoption rate in Myanmar reaches 80 percent, your e-commerce business needs to cater to mobile users and consider mobile shopping. With the consumer turning away from desktops and utilizing their phones to make purchases, your e-commerce business should be optimized for mobile phones to convert more leads from mobile devices. This way it will allow you to capitalize on consumer conversion and will appeal to your customers among your competitors.
5. Focus on Serving, Not Selling
Remember that the purpose of the sale is to get a customer. It is important that their first purchase experience over the screen is a great one and that they will continue to buy your products over and over. Be the e-commerce that identifies their consumer’s problems and concerns, and caters consumer purchasing journeys that surpass traditional shops. This can include providing features like multiple language, multiple payments or easy navigation buttons which is a great way for customers to seamlessly purchase your product online. By paying attention to these small little details when setting up your website will make you stand out and potentially drive more traffic and sales into your business.