Hong Kong may usher in the fifth wave of the pandemic as different COVID-19 variants emerge. Since the Hong Kong government enhanced pandemic precautions, shopping time in the downtown area may be reduced. Once again, the retail industry is hit, and some unstable offline businesses are affected. In the last two years, 84% of SMEs have undergone digital transformations in the hopes of turning crisis into opportunity. Now the question is, how many businesses can successfully transform?
According to Statista, most online retailers have an average conversion rate of only 2-3 percent. This means that 97 to 98 of every 100 visitors who check an online store website leaves. So, how could you use a successful digital transformation to integrate your online and offline enterprises to survive the pandemic?
Further reading: Digital Transformation Improves Customer Experience – The Key to Doing Business Under the Pandemic
4 Ways to Succeed in Digital Transformation
Different tools must be used to help digital transformation succeed. Here are four strategies to digitally alter your business and even bring offline businesses back online!
[1] Utilize data analysis to create the most effective marketing approach.
To assess the development path, digital transformation must work in tandem with big data analysis. Google Analytics can be used to collect behavioral data from website visitors, understand the source of traffic, and retrieve other relevant metrics. These data can be used to develop efficient marketing strategies and boost your online business.
Example 1:
You advertised on several social networking sites and used a data analytics tool to track relevant data. The results show that Facebook Ads account for the majority of your online store’s profits. As a result, you can now focus your marketing efforts on Facebook, and less on the other sites.
Example 2:
Customers only stay on your website for a short time, and you should figure out why. Is the interface on your website not user-friendly enough? Is it true that your ads are not reaching the appropriate audience? Are the most tempting products or deals, on the other hand, not on the homepage?
[2] Reduce website churn by providing a more personalized experience.
Online stores can easily attract traffic, but transactions are very few. Compared with offline sales, the average conversion rate of online stores is only 20% to 30%. The biggest difference is that the website lacks sales staff who can establish contact with customers through face-to-face dialogue. Thus, with this factor absent, customers are not provided with a personalized experience. Now, how can online retailers boost customer interaction, gain their trust, and get them to buy right away? Here are three ways to help you.
1. Video sales bring back the thrill of buying in person.
VIMOS, an e-commerce marketing platform, has a live shopping feature that can bring offline connections with real people back online. Customers are introduced to products one-on-one by real people, just like they are in offline shopping. Before making a sale, experienced sales professionals can grasp the psychology and demands of their customers. This allows consumers, who intended to buy only one product, to wind up buying several.
Further reading: 2021 Live Broadcast E-commerce: 3 Reasons for Transformation
2. Personalized chatbots for self-service problem solving
Adding a chatbot to your website that can quickly resolve some common questions your customers have can make them feel valued. VIMOS can assess preferences during a conversation and offer the best products depending on the customer’s demands and product attributes. It can even make customized recommendations and boost the likelihood of a sale.
Further reading: 5 Ways to Attract Customers and Increase Online Store Orders through Chatbots
3. Increase promotions to improve purchasing intent
Customers that have not made a purchase, or revisited, can be targeted with additional marketing depending on their website behavior. Many consumers choose not to check out after adding items to their shopping carts. To attract them, you can send emails as reminders or even offer enticing promos. Alternatively, most customers will not buy after browsing your website. However, when they return, you can provide them with a discount to increase their purchase intention.
On your website, VIMOS can be used to collect data on customer behavior. It can also send appropriate automatic reminder messages and offers, making it easier for you to complete further sales.
[3] Expand automated marketing opportunities through WhatsApp Business.
In 2020, the penetration rate of WhatsApp in Hong Kong reached 84%. Meanwhile, marketing through WhatsApp messages has a 99% open rate, which is several times higher than email. This is what makes WhatsApp the most attractive marketing channel. If you want to succeed in your digital transformation, you should make more use of WhatsApp Business for marketing.
VIMOS Platform is very effective in analyzing various behavioral data of customers and classifying customers with tags on WhatsApp Business. Tags can include new & old customers, customers who bought product A, customers who browsed product A, and so on. These tags are useful, assisting online retailers to contact specific customers with ease. Consumers are more likely to purchase when online stores employ personal communication channels like Checkout Reminder.
Furthermore, WhatsApp allows you to keep in touch with offline potential customers. If you’re selling offline and come across clients who are really interested in a product but are hesitant to buy, you can take the effort to provide the contact information, such as WhatsApp, and put your offline business online. They offer excellent online customer service and sell just when the time is right!
.
Further reading: 2022 E-commerce Trends: 3 Benefits of WhatsApp Business to Boost Your Online Store Sales
[4] To keep customers, put a premium on convenience.
Hong Kong smartphone users browse the Internet on their handsets 96% of every day, the highest rate in Asia, which is definitely a great opportunity. Mobile phone users, on the other hand, spend up to 40% less time surfing websites than computer users. Faced with this challenge, how can you turn the challenge into an opportunity? There are two ways:
1. Enhance the mobile website interface to encourage users to keep browsing.
A visually appealing mobile experience will entice your clients to continue browsing. You can go back to your online store’s mobile interface and redesign it to make it more appealing and user-friendly. You can streamline the website content and have other relevant changes to make it easier for customers to browse.
2. Create a seamless shopping experience for the convenience of customers.
Customers can enjoy a seamless purchasing experience by shopping at your online store which uses a multi-channel strategy for selling. Whether consumers are on a mobile phone, a computer, or a brick-and-mortar store, they can shop hassle-free.
Some online stores may prefer to centralize management and allow only one sales channel. In addition, VIMOS provides a one-stop reply for all inquiries, making it easier to manage. Even if you have many sales channels and the same consumer inquiries on various platforms, you only need to link and respond to the customer in a cohesive manner. Customers feel connected and personalized when they spend across multiple channels, keeping them loyal to you.
Further reading: Create a Seamless Shopping Experience – Smart Retail Drives Omnichannel Business
Online-Merge-Offline (OMO) online and offline sales links will be a prominent trend in the future as a result of the pandemic. Want to spare yourself from the crisis by embracing digital transformation? Take advantage of this once-in-a-lifetime opportunity and try out the VIMOS Online Store Sales Growth Platform for FREE. With VIMOS, simply integrate your online and offline businesses and increase your online store’s performance!
