Competing with Amazon? Yes, it's possible, even for smaller eCommerce brands.
This is the third in our three-part feature on Amazon vs eCommerce retailers. Elise Dopson takes a look at quick wins for smaller brands to compete - and thrive - even against Amazon.
Competing with Amazon: 4 Quick Wins for Small eCommerce Brands
When it comes to business, competitors are everywhere. The brick and mortar stores in your local shopping center might be the ones you’re fighting with for new customers, but there’s one huge competitor that might be tougher to crack: Amazon.
But if you’ve dusted off your boxing gloves and are ready to win the war against this eCommerce giant, congratulations! Recognizing their power—and creating a plan of action to beat them—means you’re halfway there.
As promised in the first half to this guide, here are four more ways you can beat the eCommerce giant in the race to acquire new customers:
1. Offer Rewards for Customer Loyalty
Amazon’s Prime scheme does a fantastic job at building customer loyalty.
Their monthly membership offers free shipping, movie streaming and discounts on Kindle books to encourage their 100+ million members to head to the Amazon website to make any online purchase.
Here’s the question you’ll need to ask yourself: Can you beat them?
Creating a customer loyalty program that’s on-par with Amazon Prime will stand you in great chance of winning their customers.
Create a point-based system. Collect 5 points for every $1 spent, with each point earning 5 cents in store value.
Offer cash incentives: Spend $50 and get a $5 off your next purchase.
Collaborate with another brand to offer bigger and better rewards. A bedding company could partner with a hotel to give discounted stays to people who’ve made a purchase.
Offering an incentive for previous customers to leave reviews here (such as cash bonuses or free products) might need some thought, but there are other cost-effective ways you can prove your credibility—like working with influencers.
4. Focus on Creating Quality Content for Your Audience
People need to know you’re equally as trustworthy as Amazon before they switch to your company for their needs. As Derrick Neufeld and Mahdi Roghanizad explain, “When trust is high, people are much more likely to take risks and engage in trade.”
...But what exactly does that mean?
Well, you’ll need to build trust in your audience if you’re to be in with any chance of competing with Amazon as a small business.
If you can use this high-quality content to drive potential customers to your website at this stage, and win them over with your knowledge, it builds trust.
Think about it: If you’re purchasing a gift for Mother’s Day, are you more likely to trust a company with a 10-minute long video that shows you how to buy the perfect gift, or one that leaves you to make your own decision?
Just take a look at the eBook being offered by Crosby's—targeting people who’re interested in buying a barbecue:
I’ll bet you’re more likely to trust this brand (and purchase your barbecue from the specialists) rather than Amazon the generalist, right?
Final Thoughts on Competing with Amazon
Are you convinced that the war on Amazon is one that small businesses can beat?
Although it might feel impossible to compete with Amazon’s cheap shipping costs and Prime membership perks, these techniques are just four quick wins you can use to convince potential Amazon customers that you’re more worthy of their cash.
Put these into place and see the results for yourself. But personally, I can’t wait to see your small business crop up in my own buying process before Amazon!