Real Estate Investor Magazine South Africa May/ June 2020 | Page 38

OFFICE
The difference
between life & death
How to launch a successful e-commerce platform
S
outh African retailers were in trouble even before
we were hit by the game-changing COVID-19. Fast
forward a few short months and the reality is that
consumers may not be flooding malls the way they used to for
a very long time to come. Building or adding an e-commerce
platform is one of the ways brick and mortar businesses can
avoid the fate of traditional US retailers, like Toys ‘R Us, now
filing for bankruptcy.
It has been a tough road. Not only did we enter a recession
in the last half of 2019, but Statistics SA data shows that the
last time quarterly retail sales grew more than 3 per cent was
in the first three months of 2018. Part of the problem is that
consumers just have less to spend, but it is also a sign that
they are spending money elsewhere. However, what the last
few months have done, is expose our reliance on customers
walking through our doors.  
For the past month or so, the online world has been abuzz
with discussion on how businesses can pivot their offering
in a way that gives them a new “in” in a market that has been
disrupted in a bad way. It has been the subject of Adweek
Webinars, Zoom calls and Masterclasses and the questions are
similar. “How do you take your business online?” and, “How do
you take your business online fast.”
Here is the rub: everyone is trying to do the same thing and
at a time where we are spending half our days managing the
personal fallout of COVID-19, adding new products or services
or even pivoting a current business stream can be extremely
stressful.
Here are a few tips from the experts to guide you in what
to consider to make sure you launch an e-commerce platform
that makes profits, while other retailers are still waiting for
walk-ins:
Choose a strategic partner
The first step is to partner with a reputable digital, SEO and
e-commerce specialist who knows how to monitor and maximise
your return on investment. A strategic partner will review how
your brand story is told across your holistic online presence, while
you focus on your core operations. They will guide you through
the process, which cuts out the guesswork and leaves you to do
what you are best at – maintaining client relationships.
When going online, every click and action counts: from
the customer interface to the speed of processing, product
ability, personal touches, the payment gateway, security and
of course the way you provide customers with the highest
quality service that will have them clicking back for more.
Marius Fischer, e-commerce specialist for Idea Hive says,
“Cost is often a barrier when it comes to clients deciding
whether to go online, but in this climate, it should be seen as
an essential investment and not an expense.”
Amalgamate, don’t segregate
In the past, businesses have tried to run their online business
as a slap-on or an after-thought to their physical business. This
means extra time and cost when they want to scale up and
have to fix their initial half-hearted attempts down the line.
Customers also know when you are just trying to tick the
online boxes as opposed to creating an online experience
they will remember. This is particularly true when their
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MAY/JUNE 2020 SA Real Estate Investor Magazine
experience online is different from their experience in-store.
You can’t have a streamlined fuss-free exchange policy in-
store, but make it impossible for online customers to return
items.
Wow them
A 2019 Accenture study found that the share of digitally
savvy and digitally experimental South Africans grew from
53 per cent of the population in 2015 to 70 per cent in
2018. Globalisation has also meant that we’re increasingly
comparing our online experiences with those in first-world
countries and expecting companies we deal with, to be
relevant.
“Cost is often a barrier when
it comes to clients deciding
whether to go online, but in
this climate, it should be seen
as an essential investment
and not an expense.”
Retailers have to compete on more than the traditional
criteria of convenience, quality and price. They must
understand their customers’ preferences, anticipate their
needs and provide an excellent experience as a standard.
Digitally savvy consumers are highly focused on the quality of
their online experiences. They expect 24/7 availability, instant
responses and ease of use. Companies that don’t deliver such
experiences risk losing customers and billions in potential
revenue.
During uncertain times such as this, understanding the
market and user behaviours is critical and another area where
you need the support of a solid strategic partner.
Trust
From your landing page to your payment gateway or even
the courier you use, customers will not give you their money
if they do not trust you. Customers want secure, engaging
and consistent online experiences, especially during times
like these.
56 per cent of South African internet users say that social
media heavily influences their choices. With the customer
journey changing drastically from one driven by loyalty, to
one driven by evaluation and re-evaluation, the continuous
evaluation cycle has heightened consumer expectations for
online stores.
Brands who stay connected to their customers and their
changing needs and who are changing the narrative of
uncertainty around us will be the ones customers turn to.
Whether you take your whole business online or just a few of
your products or even a new product or service entirely, now
is the time to reinvent your offering while maximising on your
investment.
SOURCE Idea Hive
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