Would you like to get the sharp edge over your competitors in online business? Here is how!

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In our first series on starting your online business store we told you about starting and handling the initial stage of your online grocery store like collaboration, acquiring customers and making a regular income. After establishing a decent reputation and getting regular revenue, you need to invest your attention in branding and enhancing revenue opportunities. At the same time you need to attract the customer loyalty. Here are a few things that can help you a long way in achieving these objectives:

Branding

If you want to build your brand or to increase the number of regular clientele then you can present an option to your online customers to opt for monthly subscription and get the orders delivered to their home without any delivery charges. This model of monthly subscription will strengthen the long term relations between you and the customers.

Additional Revenue opportunities

Apart from earning though commissions, subscriptions and service fees there are a number of other revenue earning opportunities on your online grocery store. Once you think that you have already established your brand and have sizable number of regular customers then you can think of increasing the revenue models in order to enhance the income potential of your online grocery store. Here are a few additional ways to enhance the revenue potential of your online grocery store:

    • Publishing Daily Discounts and Special deals on your site
    • Banner ads
    • Publishing sponsored blog content aiming at specific grocery shops
    • Selling associated common products that are prerequisite for shopping like shopping bags, gift wrappers, fancy baskets etc.
  • Selling the subscribers’ data to different shops in your area

 

  • Part 2

Deep Analysis

There are a number of factors that you need to analyze in order to strengthen you presence. Three most vital aspects are size of the business, target market and the best business model. Besides there are multiple factors that can help you to gain the optimal RoI in a reasonably shorter period of time for example being associated with the reputed grocery stores that attract the sophisticated gentry.

Engaging the customers

While the fierce competition is the challenge that most of the grocery businesses have to face, they also have the advantage of being able to earn a regular stream of income as grocery is related to the daily needs of the people and people generally trust the stores that share a good rapport with them. In the same way you need to create an interactive website that should keep the customers engaged and invite them to influence the other internet users too. In this way your customers will become your brand ambassadors.

  • Ensure that your website has loads of appealing interactive features and tools that keep them amused and engaged. You can also have the online contests or games for rewarding the clients.

Acquiring the customer loyalty

Customer loyalty plays a great role in ensuring the long term viability of your online grocery store or online business and you need to be proactive in your efforts for making log term relations with your clients and keeping them loyal to your brand.

  • One of the most trusted and effective way of winning eh loyalty of customers is to offer them some reward points every time they purchases merchandise for a specific amount. Those points can then be redeemed during their next shopping in the form of discounts.
  • Most of the grocery customers generally repeat a number of same items in their monthly orders. Ironically, they find it really difficult to prepare a fresh monthly order every time. If you can offer them an option to save a specific list of items to their shopping cart and order the entire saved list with just a single click each time they purchase it will make their lives easier.

One thing that you need to keep in mind is that just like any other digital business the online grocery store also thrives on the traffic and user engagement. In fact these things play a vital role in oaring your site a prominent place on the search engine page. So, you should have a streamlined plan to acquire greater number of users for your site.

  • Different members of a family have different needs when it comes to the grocery shopping so it is a viable option to allow different registered members of the same family to share their saved shopping cart with the other members allowing them to add the items they need while running an online business. On the one hand it will help in increasing the size of single order and save unnecessary repeated trips and on the other hand it will also increase the number of your subscribers as it will encourage all the members of a single family to register individually on your site.
  • You can also keep on writing the valuable and informative content that should not only be engaging but should also encourage your readers to order more items. There could be a number of ways. For example, you start a regular column on different recipes and in the ingredient list; incorporate the shopping cart so that the readers can instantly order for the food ingredients they need. Likewise you can also address various household issues like how to make your house odour free and insert the instant shopping cart links for various branded odour free deodorants, phenyls and other associated merchandise.
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