Have I got the right eCommerce strategy?
The first question for many is have you actually got a strategy for eCommerce? Is there some stated strategic aim or objective concerning digital or eCommerce or is it just that we have a website and we hope it grows?
Littlewoods Shop Direct made it a strategic objective to become a “digital first” company as quickly as possible. From being pleased to be achieving an eCommerce share of the business beyond 10% this has grown and grown to the point where they have now stopped their offline catalogues and eCommerce comprises the majority of their sales.
To self-critique your strategy you should ask yourself:
- Is my strategy formulated, monitored and communicated?
- Are there business objectives that I could formulate a strategy around?
- Has my strategy been formulated via hunch or via a planning process that has assessed where I want my business to be with my customer and my competitors?
- Have you really considered the impact of wider digital and Omni-Channel developments on your business? Some businesses will disappear as market innovations move the market on.
- Are your marketing and business tactics formulated to achieve a strategy? eg are you employing big resources in acquiring new customers via Pay Per Click (PPC) but have a strategy to develop repeat customers.
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As a way to see some level of best practice, without spending lots of money, we would suggest the following reference points to develop your knowledge.