6 Ways to Increase Ecommerce Conversions

All business owners in wholesale market India are familiar with the word ‘E commerce’. They’ll have website, blog, social media pages to showcase their brand & sell their goods. But all visitors may not always buy the products they have browsed. They may get diverted. Their interest may change and they may drift away to other destinations. Here are 6 amazing ways to make customers stay on site and buy from you:

Offer interactive experience

Customers doing Online shopping India on their own are very likely to drift away after some time. If customer gets to chat with an e-sales representative, he stays on site longer. The representative keeps him occupied by answering his product-related queries. The customer here has a stronger chance of buying the product as he is feeling more engaged. Toll free help lines, Q & A Sections, Email services are other engagement building tools. A customer seeks for prompt interaction. Hiring an e-sales representative may prove beneficial for a business in this respect.

Use the service of an e-marketplace

When you are unable to achieve conversions on your own do seek help. Engaging with an e-marketplace targeted towards small and medium sectors may prove helpful. Milmila is one such e-marketplace. Customers of Milmila often prefer retailers and merchants associated with it. Thus, being on http://www.milmila.com increases your product’s visibility& buy-worthiness.

Make your web front user friendly

Your e commerce website should not be too bulky. Bulky websites cannot load fast. If a website takes time to load, customer gets irritated. He loses patience and drifts away. Your website should load with speed both on desktop and mobile. Invest in latest software and technologies for a mobile-compatible website. You might have noticed that majority of customers nowadays shop from their mobiles. So it makes sense to invest in software and website design that works great for mobiles.

Put up useful content

Try to generate useful and readable content centred on your product range. Use your milmila.com merchant profile or social media profile to circulate the info. Generation of steady content stream can make customers aware of your web presence. They will then become curious to find out more about your product range. This will increase conversion rates. Customers will form a great impression of your business and will buy more of your products.

Put up Offers

Putting up offers, flash sale deals & discounts can attract customers to a website. Such offers entice customers to buy from the website. Offers are no different from sales banner ads put up retail brick stores. Offers put up on e-commerce websites help in effective e commerce optimization.

Build an emotional connection

Customers who feel connected to a brand on an emotional level tend to buy from that brand. The more you work on building a personal connection the more is the payoff in the long run. Gestures like complimenting customers on their choices etc. could make customers feel special. Such gestures, thus, can boost sales figures and Increase conversion rates.

Benefits of B2B Buyers Purchasing Online

The online retail space is growing at a furious pace and B2B also shows a similar trend due to the inherent benefits of the process. B2B sites still follow the age old procedure of buyers initiating contact on the site and then switching to personalized channels of communication to take the deal a step further. Some sites now offer the same order placement and purchase and payment process as happens in the retail space. Regardless, buying online is a boon for b2b buyers.

Speed

The usual process for B2B buyers is to initiate contact on the B2B marketplace and then get quotations, negotiate and place orders. This is time consuming. Where B2B marketplaces online offer a purchase process that is similar to B2C retail buying, it cuts short the time. This could lead to faster through puts and higher turnover in shorter time, which, even if margins are lower, still yields profits.

Transparency

Retail buyers enjoy the benefit of transparent pricing. They can see the product description and price offers by various sellers as well as shipping and other charges. It is easy to decide and place order within a few minutes. B2B online marketplaces that follow this model, such as milmila.com, offer the same benefits to B2B buyers who can view products and prices and place order on the same page of the site. They can compare prices online instead of calling for quotations from various suppliers. Should other B2B portals follow this model then the B2B online market India based will grow even faster and make it easier for buyers. What buyers do not like about the current model of B2B is that they must first register if they wish to view contact details and some portals even ask for fees to initiate further contact.

Shipping and returns

What happens in the usual B2B process online is that buyers initiate contact through the portal and then engage in one to one discussions leading to orders. Shipping and returns are dictated by sellers and even if a product is defective they may refuse to take it back on one ground or another, leaving buyers with a heavy loss. Compare that to an online site where B2B buying online is mediated by the portal in much the same way like retail online marketplaces and buyers have the assurance of knowing shipping costs and have guaranteed replacement or returns or refund policy. Shipments from within the country or international shipments always have door delivery, which is a benefit for buyers who do not have to go to the transporter to pick up the consignment or undergo customs clearance formalities.

It is time for B2B sites to remodel their engagement process and make their sites buyer friendly. It is time for buyers to switch to better sites that offer easy online buying process for B2B transactions. Changes invariably lead to improvements and benefits for everyone involved, which, in this case means the portal, the seller and the buyer. The portal too will benefit more in that it can charge a commission on each sale, which it misses out when a buyer and seller conduct direct transactions.

6 ways Ecommerce builds ROI

There are many ways in which e commerce builds ROI and contributes to rich returns. This article discusses the many ways in which e commerce is super attractive both for the buyer and seller.

Ecommerce ensures wider reach

Investing in a worthy e commerce platform is always a great decision because you have a lot of outreach. A platform like www.milmila.com cuts across boundaries of space, geography and political barriers to reach every strata of society across the globe. Therefore you achieve a better and cheaper way of reaching millions…a strategy that wouldn’t have been possible with traditional advertising mediums. Invest in good technology and sturdy designing that can withstand lots of traffic and still deliver smooth performance. Ecommerce is the most cost effective way of reaching maximum people in minimum time.

More payment options

Ecommerce offers a wide variety of payment options and thus the buyer has a lot of choice. A typical shopper at a commerce site can choose to pay by cash on delivery, by debit/ credit card and some sites also offer the facility of cheque payment. The product is delivered at doorstep and the customer pays after delivery which makes life much easier for the customer. Even in case of debit/ credit card payments there are no waiting in queues and lead times are slashed remarkably. Obviously this translates into more customers and faster payment gateways and this boosts return on investment. Out of the ecommerce Indian site…using www.milmila.com is highly recommended because of their seamless integration of payment gateways and multiple purchase options.

Maximised variety

A great e commerce shopping site is a much better place to shop than a shopping mall. It offers everything at one place without you having to use crowded elevators and lifts!! There are dynamic shopping sites like www.milmila.com where there are endless varieties of product. You will get everything from sneakers to fashion jewellery to lingerie to watches to branded apparel here. There are products to suit every budget and every taste and this obviously translates to more return on investment for every minute spent here. A shopper cuts down on a lot of extra time and finishes buying a lot of things in a lot lesser time. Offering maximum range of products in one platform is of the USP’s of e commerce.

Awesome shopping experiences

An e commerce site has clear, defined and accurate product descriptions which tell the customer all he/ she wanted to know about the product. It’s very important to choose an honest shopping site like milmila.com that offers total transparency and accuracy in its product descriptions. If a customer gets relevant product info, measurement info and material info in a shopping site….purchase decisions become easier. Ultimately this boosts ROI for the customer as well as the e-commerce marketplace

Track able ROI metrics

With a properly developed e commerce site tracking growth of ROI, Factors contributing to it, cart abandonment issues, keyword analysis, traffic metrics are all achievable. In case sales are not proportionate in their increase with traffic numbers, an e commerce site uses tools to analyse the gap and then close it. With brick and mortar stores, conducting analysis in such detail is far more difficult. ROI Metrics is directly proportional to the sustainability of return on investment and this is one of the major advantages of e commerce.

Convenience

In all honesty, there’s nothing more convenient than a properly developed e commerce platform like e www.milmila.com. These sites are specially targeted towards busy working people, the aged and infirm and basically anyone with a scarcity of spare time and resources. All you have to do is to sign in to this site from your mobile/ laptop/ any other electronic device and you have a completely seamless shopping experience.

6 Differences between B2B Sales and B2C Sales

Online sales channels have diverged into two distinct categories. One is the B2C sales or online retail and the other is B2B targeting wholesale or industry sales. In essence, both are the same: sell to a buyer but there are differences.

Different channels, different buyers

B2B channel targets bulk buyers who will hopefully turn into regular customers. B2C targets millions of buyers and only a few will buy regularly. B2B selling involves a number of steps such as initiating contact, sending an inquiry, receiving a quotation and negotiating terms. B2C selling is relatively simpler with a product displayed on an online ecommerce platform and the buyer selects it, places order and makes payment all within a few minutes. In business to business transactions a number of people are involved in the purchase decision making process whereas in retail segment the buyer is almost always an individual. Buying in business to business is a carefully thought out process whereas retail buying may be impulsive.

Price

Retail prices per unit are always higher than bulk product sales prices. It is impossible for retail buyers to negotiate prices online—he can only hope for discounts, cashbacks and deals. Business buying could involve a quantity based price negotiation which is possible on online ecommerce marketplace India based like milmila.com.

Strategies

Both B2B marketing and B2C marketing involve carefully thought out strategies. B2B marketing strategy focuses on finding bulk wholesalers and creating leads. B2C marketing could well have emotional appeal that touches hearts of millions. In both cases sellers must have good knowledge of product and be able to respond to queries in depth. B2B needs to be one up in knowing complete technical specifications of products they sell and in creating long term business relationships and when repeat orders are placed, they are direct.

Different selling and buying process

The retail segment is made up of individual buyers. Purchase is simple in that they simply click on a product, place order and make payment. Business buyers ask for quotations, evaluate it and the product as well as terms and negotiate before placing order. The initial contact happens on the B2B site and then switches to direct communications. However, fusion sites like milmila blend both so that a B2B buyer can buy in bulk in the same way a retail buyer can.

Speed of transactions

Retail buying is fast. It takes only a couple of minutes. B2B is a protracted process that can take anywhere from a week to several months to finalise an order.

Better organised

B2b sellers and buyers are better organised and are usually well established companies. They can be manufacturers or wholesalers and they may serve regional or international buyers. B2C seller may be a small retail shop or an individual conducting business online usually sourcing products from a manufacturer or a distributor. B2B sellers can even sell in the B2C channel but small retail sellers will need quite a bit of effort to become B2B sellers, which they can do with ease on a B2B2C marketplace like milmila.com.

Online vs. offline shopping statistics India

India has a huge retail market that is now pegged at 625 billion USD. Out of this the e commerce marketplace stands at about 40 million USD which is only a small percentage. However if one looks closely, it is evident that e commerce has grown by leaps and bounds in the previous few years and it’s all set to give the traditional brick and mortal retail landscape some serious competition in the near future

Indian e commerce statistics…

In the 2009 the e retail space was only 3.8 million USD but by 2014 it had grown to 17 billion USD and in the next two years i.e. by 2016 the share had grown to 38 million USD. As of now by 2017 year end the share of e retail market is 20 million USD as revealed by online shopping stats. Market experts say that by 2022 the e retail space will grow to valuate 52 million USD. Therefore if you look at the statistics in the long term perspective, e retail sales/ online shopping India has potential to overtake brick and mortar retail sales in the next decade. This huge growth is fuelled by the fact that unifying e shopping forums like www.milmila.com are providing a platform for buyers and manufacturer integration and transparent communication.

In the coming decade e commerce all over Asia will undergo a huge boom as indicated by online shopping stats. By end of 2018 the number of e shoppers will cross the 1 million stand and this means that more than 60% of people who have internet are shopping online. India’s online retail CAGR (Combined active growth rate) will reach 23% from 2016 to 2021

Factors affecting e commerce landscape

The internet penetration has increased drastically in the last few years both in metros and non-metros and has changed the concept of shopping in India. Shopping online via apps are the latest trend now…a latest Criteo survey (India s leading performance marketing technology company) revealed that 74% of participants in the survey have 2 to 3 e shopping apps on their phones. In the online shopping world…consumer durables and electronics and apparel command that maximum purchases. E wallet systems, enhanced net banking and changing preferences of consumer behaviour has led to the growth of e shopping in various segments. Having said this metros like Delhi, Mumbai, and Bangalore see more of e shoppers while tier 2 and tier 3 cities have consumers that are still sceptical of the e shopping landscape. The recent introduction of GST has complicated matters and has pushed a group of new e shoppers back towards the local kirana stores and offline shopping India. The absence of a robust platform which can connect all members of the supply chain is another deterrent in the proliferation of the e shopping segment in the tier 2 and 3 cities. However there are companies like www.milmila.com who are setting an example by uniting buyers, manufacturers, sellers all on one platform and promoting fair and equitable business practices.

Future predictions

The future promises robust growth of e commerce online shopping India and the strong rise of equitable shopping platforms like www.milmila.com  that provide direct integration of the supply chain. Experts say that the future will see an Omni approach that will induce collaboration between online and offline retail. As of now 76% of retailers in the country feel that a seamless shopping experience in which online and offline shopping India stores work together to enhance customer satisfaction is the need of the hour.