End To End Playbook

New Delhi, India

AnyTechTrial.com

With COVID-19 forcing physical stores to close, the need for online retail and e-commerce websites has never been more clear.  On top of the pandemic, the efficiency of the direct to consumer model is helping to further drive retail's channel shift to the internet. Technology has certainly opened up the opportunity to cut out the middleman in ways that weren't possible just a few decades ago.

Direct-to-consumer (or you say D2C) firms manufacture and ship their products directly to ultimate buyers without relying on traditional stores or other middlemen. D2C is more convenient for growing your especially in the initial stage when your business is just budding out. However, due to the increasing pressures of shrinking margins, disruptive digital pure plays, and changing consumer habits, the D2C model is no longer a ‘nice-to-have’. It’s an increasingly vital route to market where the time of printable and advertising has gone, in a world where technology, data, and customer experience are leading differentiators for brands. For those businesses that had not invested in a D2C model before, the pandemic has forced their hand. The closing of physical stores has accelerated the necessity for digital transformation.

What is the direct to consumer business model? 

Before we get started, let's quickly define what a D2C business model is. Traditionally, you would sell your products to a retailer through distributor, who would then sell them to customers and that is the supply chain that were earlier being followed whoever wants to start a business or to sell product. This was beneficial when customers had to go to physical stores to buy products. Mail-order catalogs could sell direct, but that required more infrastructure than most businesses had available to them, so most mail-order catalogs were still operated by large retailers. Now that customers can buy directly from a company website by adding those product into the cart and then placing a order, the reliance on physical stores is weakening, making it practical to skip the middleman and sell direct to customers.

How to collect data for your business?

Companies capture data in many ways from many sources which include global sources as well. Some collection methods are highly technical in nature, while others are more deductive (although these processes often employ sophisticated software).

The bottom line, though, is that companies are using the strategy for collecting data methods and sources to capture and process customer data on metrics, with interest in types of data ranging from demographic data to behavioral data.

Customer data can be collected in three ways: by directly asking customers, by indirectly tracking customers or through communications, and by appending other sources of customer data to your own,  A robust business strategy needs all three.

Businesses are skilful at incorporating in all types of data from nearly every nook and cranny. The most obvious places are from consumer activity on their websites and social media pages, but there are some more interesting methods at work as well.

One example is location-based advertising, which utilizes tracking technologies such as an internet-connected device's IP address (and the other devices it interacts with – your laptop may interact with your mobile device and vice versa) to build a personalized data profile across geographies. This information is then used to target users' devices with hyper personalized, relevant advertising.

Companies also dig deep into their customer service records to see how customers have interacted with their sales and support departments in the past and thus creating a B2C market formula for future. Here, they are incorporating direct feedback about what worked and what didn't, what a customer liked and disliked, on a grand scale.

Besides collecting information for business purposes, companies that sell personal information and other data to third-party sources have become commonplace. Once captured, this information is frequently changing hands in a data marketplace of its own.

Creating Awareness For Your Brand Is Important !!

Brand awareness is the level of familiarity your target audience has with your brand, and the knowledge they have of your business, your products, and your values and your networks. Adding value in your branding and advertising strategy is important but how will you that. For that an actual and actionable advertising is needed. Your brand logo and banner will do wonders for your brand and can accelerate your product journey in the market. You can opt for any cable for that purpose. For example, when you hear “Apple”, you think of cutting-edge tech gadgets and slick advertising. To solve this purpose you might make use of software like Chatbot Software for say Intercom, Zendesk, Drift which help you to connect with your customers directly to build a healthy relationship with them, also with so many Website and E-commerce software for say Go Daddy, Shopify, Bootstrap etc.  which help you grow your website from raw. 

The value of building brand awareness is most apparent in the early stages of a new business venture, as you need to make sure to spread the word about your company, and its products or services.

Making The Most Out Of Customer's Visit Through Conversion

Conversion marketing tactics do not target only one consumer segment, but instead apply to all customers who visit a company’s website. Many, if not most, will arrive through search engine results. Such visitors are immediately high-value prospects, as they’re already interested in some features of your website content, if not the specific goods and services you provide. Other customers arrive directly, because they already know about your website—perhaps through previous business or by a link in your e-mailed newsletter which you have created. These customers are also high-value, having already established a relationship with the business will have the most chances of becoming the customer for your business or even a loyal customer in the long term, that is what conversion marketing is necessary for you business. You can also go for being creative as well as informative by making a flowchart of your current customer or your potential customers which will be more helpful for targeting the right customer segment and in lead generation.

In both of these instances, conversion marketing doesn’t have to try to invent prospects, and then try to con those prospects into making a purchase—it just needs to make a compelling case to those who already have a need.

Fulfillment Is What Matter The Most To The Customer.

Fulfillment For many, a shift from wholesale to D2C fulfillment requires a significant amount of change, for example, warehouses accommodating shipment of individual items as opposed to shipping bulk containers and pallets. Building a good logistics becomes quiet essential to easing the transportation channel for delivering final goods from manufacturer to the ultimate customer. They need to process faulty goods and returns and manage late deliveries. Having the ability as a D2C brand to deal with these customer touch points effectively can be a loyalty differentiator. The up-front investment in real estate, technology, and staffing can be costly, so there are lower-risk options when starting, both in-house and outsourced. In-house fulfillment might work for those new to D2C but already running a fulfillment operation for wholesalers and retailers. This approach allows businesses to gradually learn the ropes of D2C operations while order volumes are manageable, keeping overheads and investment low while establishing a D2C channel. However, the success of your D2C strategy relies upon a positive customer experience, which might not be guaranteed when learning on the job. Also, with limited capacity, budget, and know-how, this method could restrict growth.

Retention Process Of A Customer Is Tricky

Customer retention is a term that covers strategies, tactics, and workflows that companies set in place to reduce the rate at which they lose customers.

For a B2B/SaaS company, like us AnyTechTrial.com the process is centered around keeping existing users engaged and up-to-date with cutting-edge features and products in development. It also includes improving the overall NPS score through stellar support and product and optimizing the upselling or cross-selling of additional software/subscriptions.

Acquiring a new customer can often be a long and expensive process for businesses, and advertising costs are high. 

That’s why it’s becoming more and more important to focus on your existing customer along with that you can also increase your customer retention rate in the market. Increasing customer retention rates by just 5% can increase your profits by between 25% and 95%.

The goal of a customer retention program is to keep more customers and influence them to stay with your company for as long as possible.

For an eCommerce business, you want customers to come back as many times as possible. But, you shouldn’t rush into making changes based on low-quality datasets or general recommendations. 48% of all consumers have left a website and made a purchase elsewhere because the experience was poorly curated.

To avoid losing customers, you have to understand core retention strategies, as well as how to gather the necessary data and implement them efficiently.

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