Planning Profitability in eCom

Planning Profitability in eCom

TRAFFIC: (Define the traffic source)

At the core of any website, while certain elements require careful consideration, the integration of Google increasingly into our lives inevitably leads to rising costs of traffic. The advent of AI is set to enhance content quality, thereby escalating the competitiveness of performance. Similarly, SEO operates within this context; improved content quality is poised to naturally foster competition within the ecosystem.

It's worth pondering over our shift from being satisfied with search results spread across 10 pages to now preferring a comprehensive synthesis of all those pages— a capability that ChatGPT is specifically designed to fulfill. The future relevance of SEO in this evolving landscape raises questions. Yet, like all things, SEO is likely to adapt and transform in the coming years.

When it comes to online shopping, platforms like Flipkart and Amazon are often our go-tos, though we occasionally explore brand-specific websites. Initially, our preference for marketplaces stemmed from their reliable predictability. However, as the ecosystem matures, brand websites begin to instill a comparable level of confidence in us. Consequently, website traffic is becoming more about fulfilling intentional needs rather than being just an obligatory facet of a website's existence.

As traffic is a dynamic lever and needs to tweaked based on market conditions.

WEBSITE RELEVANCE: (Innovation vs Standardization)

In today's world, what significance does a brand hold? What factors contribute to a brand's success both on marketplaces and its own website? Marketplaces offer substantial advantages, including secure payments, reliability, and after-sales support. As the e-commerce ecosystem expands, these components are continuously improving. Eventually, we'll reach a stage where standardized operational practices and regulatory oversight become the norm for these modules.

This standardization will drive websites to enhance their relevance through innovation. The importance of introducing new innovations in each module cannot be understated, setting the stage for a dynamic interplay between innovation and standardization—a pattern well-documented throughout history.

Innovation dictates standardization.?

HOOK THE CUSTOMERS, ALWAYS!: (Customers look for you)

The physical location of a retail store offers a significant advantage, drawing customers to visit and experience products firsthand before making a purchase. This requires considerable effort from customers to travel to the store. Conversely, online shopping is effortlessly accessible with just a click, allowing customers to easily navigate between different stores. Consequently, ensuring customer recall (achieved through relevance) and providing compelling reasons for them to continue engaging with your online store become essential.

To maintain customer interest, it's crucial to offer strong incentives that encourage them to stay engaged. Often, customers focus on the satisfaction of their current transaction, overlooking the potential for future purchases. Creating a comprehensive strategy that includes brand-agnostic hooks can effectively boost repeat business. This approach, while challenging, must be carefully considered. For instance, as a child, I was drawn to a particular brand of chewing gum not just for the gum itself but for the tattoos included inside the packaging. Though there was no logical connection between the gum and the tattoos, it provided a unique reason to choose that gum over others.

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