There has never been a better time to build your brand presence in the online marketplace. With the demand for dietary supplements skyrocketing during the COVID-19 pandemic, supplement brands have the perfect opportunity to connect and build relationships with customers online.
Investing in creating your online store is a strategy that will help your business in the long run as eCommerce annual U.S. sales grew by almost 15% in 2019. Globally, eCommerce sales hit over $3.53 trillion in 2019 and are expected to hit $6.54 trillion by 2023.
This exceptional growth has led businesses to turn their focus towards eCommerce so they can provide unique and convenient experiences for their customers. Below are some essential tips to help your company launch and manage your online store.
With more consumers shopping online, companies are looking for simple solutions to create their online stores. For many supplement companies, the easiest and fastest solutions are either setting up an Amazon storefront or using the Shopify platform.
Amazon is one of the biggest eCommerce platforms for many industries, and the dietary supplements market is no different. Your products should be listed on the site as Amazon’s power is driving much of the sector’s tremendous growth. An important thing to note is that Amazon is more-or-less a search engine, so be sure to develop a strategy to optimize keywords.
Shopify is an all-in-one eCommerce platform that is perfect for any brand looking to sell their products online fast. The platform allows you to manage orders, shipments, payments, and insights into who is purchasing your products. Over 1 million businesses worldwide use Shopify, as well as the platform’s other educational resources including webinars, community support groups, funding, and more.
Some online retailers have entire teams dedicated to order fulfillment because there is a lot that happens behind-the-scenes that consumers do not see. This lack of insight can highly affect your customer’s perception and lifetime value of your brand if products are late. The product shipment is sometimes the only physical interaction a customer has with your brand, so it’s important to get it right.
However, if you don’t have a team to fully dedicate to shipping your products, there are plenty of fulfillment solutions including Fulfillment by Amazon (FBA) or ShipBob.
As one of the most advanced networks worldwide, FBA handles shipping, customer service, refunds, and returns for all Amazon sellers. Dietary supplement Amazon sellers interested in FBA should look to see if their contract manufacturer is Amazon-Friendly. These manufacturers ensure your products are ready for eCommerce by complying with Amazon shipping guidelines.
ShipBob is an eCommerce fulfillment solution that integrates with Shopify and Amazon stores. The fulfillment solution provides services for every step in the process including inventory management, reporting, and analytics. It is a perfect alternative for companies that either cannot use or are not interested in FBA.
Integrated Marketing Strategies
Inbound marketing is a business strategy that attracts customers by creating valuable content and experiences tailored to them. Inbound tactics have been seen to bring in 54% more leads than traditional paid advertising.
Instead of pushing customers through a funnel, inbound focuses on producing relevant content that serves their needs, such as blog posts, social media, and SEO. By utilizing valuable content, your company can build a loyal customer fan base.
To get started, prepare a content strategy that will excite your target audience and build off from your plans, such as adding a blog and your brand social media channels to your new eCommerce website.
Social media, especially during the time of COVID-19, is becoming more important than ever to build and maintain relationships. Coinciding with your marketing strategy, your company should develop a plan that will keep your brand top-of-mind and lead visitors from your social media channels to the website.
An effective strategy is to run retargeting campaigns for specific products. If a customer purchased a specific supplement from your company, you can retarget that customer with specific ads relating to that product or similar products they may also like.
Shifting your company’s focus to eCommerce is not going to happen all overnight; however, by following everything we listed above, you’ll be in a much better position. The online marketplace is going to continue to see outstanding growth, so the sooner you join the better position your company will be in.