Today’s generation wants to browse at their own comfort, not by the rules of retail outlets which are open for fixed hours. Not just this, but these strategies can also help you achieve greater customer satisfaction, increase your revenue and maximize the satisfaction of your employees too. Take building websites, for example. Through e-mail, you can maintain your relationship with your customers by providing them with updates, announcements or promotions. 3. 3 Citations; 2k Downloads; Part of the Advances in Intelligent and Soft Computing book series (AINSC, volume 143) Abstract . Are you finding it difficult to retain existing customers? E-commerce is a business where if you set it up right, it will grow on its own. For them, the whole world is their playground if planned strategically. Don’t interact with them as a brand or a company. It is mandatory to procure user consent prior to running these cookies on your website. We all know that any field, even the seemingly perfect one, still has its own minuses. Businesses create e-commerce websites to list their products. Selling a product (or service) for a lower price than the competitors and being perceived as the cheapest provider (if the price is really the lowest or not) are both strategies to reach cost advantage through price leadership, i.e., to offer the lowest price for comparable products on the market. However it must also be recognized that logistics management can provide a multitude of ways to increase efficiency and productivity and hence contribute significantly to reduced unit costs. This provides better and faster product access for customers. Make sure your IT allows different online payment methods. You cannot crush the competition by solely focusing on customer service, but you can give yourself a significant advantage by … Not just this, but these strategies can also help you achieve greater customer satisfaction, increase your revenue and maximize the satisfaction of your employees too. Better Customer Service. This category only includes cookies that ensures basic functionalities and security features of the website. Advantage: Reduced Transaction Costs . So can we still achieve a competitive advantage in today's marketplace as a small business? Competitive advantage will be exists when the company is able to deliver the same benefit as what the competitors delivering but in a lower cost (cost advantage), or deliver benefit that exceed these of competing products (differentiation advantage). The “Cons” of Technology and Social Media. The right strategies, especially in E-commerce companies and even contact centers, can help you gain that competitive edge in the market. This is a huge competitive advantage. Introduction E-commerce is fundamentally changing the economy and the way business is conducted. This website uses cookies to improve your experience while you navigate through the website. Ecommerce Advantage #7: Easier to Encourage Impulse Buy Ecommerce Advantage #8: Easy to Retarget or Remarket to Customer Ecommerce Advantage #10: Gain Access to Customer Data Easily Ecommerce Advantage #11: Able to Process a High Number of Orders Ecommerce Advantage #12: Can Scale Business Quickly There are many tools like Customer Service Software, CRM softwares, marketing tools, online survey tools, and web tracking tools that you can use in order to come up with some of the best customer experience strategies. Highly Competitive; E-Commerce Business – The Verdict; It’s evident that e-commerce is the future of marketing as the world is moving towards the era of online marketing. 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