Business Leaders Build Brand Recognition with E-Commerce

SMB Business Leaders Build Brand Recognition with E-Commerce Best-Practices

It is no secret that e-commerce is on the rise, providing modern day manufacturers with limitless opportunities to expand their customer base, gain new revenues, and extend their brand reach. The pandemic only served to accelerate this shift, and some experts say COVID-19 quickened the adoption of online shopping by as much as 5 years (1). With the global e-commerce market set to reach $4.89 trillion and the B2B e-commerce market set to reach $10.6 trillion this year (1), it is no wonder why modern-day business leaders invest in technology to help. 67% of business leaders cite ecommerce solutions and 54% cite tools for business integration as the primary ways to achieve their goals (2). One of the biggest benefits for manufacturers to adopt direct to consumer (DTC) e-commerce models is greater control over brand reputation. Manufacturers build better brand recognition with e-commerce strategies.

Better Customer Experiences: Order Fulfillment and Personalized Experiences

Customer service has the largest impact to the bottom line of any business. 58% of people stop doing business with a company because of poor customer experience (3) and 50% of consumers report they are willing to pay more money for a faster and better experience while shopping online (4). B2B and B2C consumers alike have growing expectations of manufacturers and online purchase platforms and expect personalized experiences. Integrated business technology that allows for customer insights based on order history and web browsing data allows business leaders to customize marketing and sales efforts. This also helps consumers feel more personally connected to the brand.

To build better brand recognition with e-commerce, manufacturers need to provide streamlined purchasing processes and excellent order fulfillment. Late orders, out-of-stocks, and slow website load-times can all damage your brand’s reputation. Inventory management technology that provides real-time visibility into product availability means you can plan production to never have products in high-demand run out of stock, which in turn results in on-time delivery. It also gives you the flexibility to provide customers with current product levels and order statuses.

Building a Web Presence: Reviews and Social Media

81% of consumers conduct online research before making a purchase online (3). This means that product reviews are one of the most important tools business leaders need to garner consumer trust. 94% of shoppers said that they consult online ratings and reviews before making purchases (5). Five or more reviews seems to be the optimum number to convince consumers to buy (6). Another key strategy to build a greater web presence and increase brand recognition is social media, especially for the younger generations of consumers. Online stores with a social media presence have an average of 32% more sales than those that do not and 74% of consumers rely on their social networks to make purchasing decisions (7). Integrated technology that allows you to trace customer orders, purchase history, and website engagement allows manufacturers to reach out to previous customers and offer incentives (such as product discounts) for social media engagements or leaving reviews. This benefits consumers, who receive a discount on some of their favorite products and feel more personally connected to the brand, and benefits manufacturers, who can now build better brand recognition with e-commerce.

Use Technology to Build Better Brand Recognition with E-Commerce Consumers

As a business leader, the most valuable asset you have is the reputation of your brand. DTC e-commerce allows manufacturers to take greater control over their brand’s reputation, since order fulfillment, web presence, and the sales and marketing experience are now within their jurisdiction. Integrated technology that provides customer insights and inventory information helps business leaders build better brand recognition with e-commerce models.

Sources:

1. https://www.shopify.com/enterprise/global-ecommerce-statistics
2. https://ecommercenews.eu/the-current-state-of-ecommerce-in-manufacturing/
3. https://www.oberlo.com/blog/ecommerce-statistics
4. https://99firms.com/blog/ecommerce-statistics/#gref
5. https://info.fieldagent.net/hubfs/Campaigns/2021%20The%20State%20of%20Digital%20Grocery/Field%20Agent%20-%20The%20State%20of%20Digital%20Grocery%202021.pdf
6. https://www.websitetooltester.com/en/blog/ecommerce-statistics/
7. https://firstsiteguide.com/ecommerce-stats/