"Over the past few months, we've seen a surge of consumers book their one-way ticket to the e-commerce world, leaving businesses with two options; either move along or get left behind,” Launch DXB. Whether you are starting up a new e-commerce or want to grow an already existing one, Hussein Wehbe’s advice during a fireside chat held with Launch DXB is just what you need to hear today! ⠀⠀
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To start with, what is e-commerce? For Hussein, e-commerce is not about having an online store and selling products through an online channel only, it is also an online platform that brings a new value proposition to the market or that addresses a new challenge with a disruptive solution or new experience. In case you are lost at how to initially come up with a business idea, Hussein suggests that you look at your own personal needs: the need always creates the right idea! Here, it is worth keeping in mind that with the COVID19 outbreak, we have seen a 600% growth in certain markets when it comes to online shopping. These were not the traditional products, as Hussein shared with us. So, as you brainstorm that new business idea, be careful which industry you invest your efforts in. ⠀
After figuring out the aforementioned, and as you start on your e-commerce venture, ask yourself: why will people buy from me? How can I be different from others? How can I enter the market, cut through the clutter, and take my market share? Then, take your e-commerce into a pre-launch phase to test your offerings and products. It was a nice reminder by Hussein to "never fall into the trap of tickling the big boys; [for him] come in quietly, do your magic and then surprise them with a beautiful disruption.” Another nice proposition shared by Hussein here was to find a gap in a product or a service and to add an extension to it, instead of competing with the giants of the market.⠀
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Next comes the pre-launch testing. At this stage, keep in mind that social selling is very important these days. With it, you might not even initially need a website; all you need to do is to be very creative in marketing the product and in attracting the right customers. It is always worth remembering that getting a license is a must for any paid activity in the GCC, so never forget that! ⠀⠀
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Moving forward, Hussein shared some of his ‘golden tips’, some of which I am happy to share here:
. Your first customer is going to be the first person who trusts you! When you start there, ask why should people NOT work with me, if you can't answer this question, then rest assured that your contract has already been signed and your product has been bought. ⠀
. Word of mouth is absolutely powerful in the region, especially for e-commerce startups, so capitalize on that. ⠀⠀
. To sustain customers, build and own the end-to-end experience as a (co)founder. Be involved in every touchpoint of the process. Own it as a (co)founder. NEVER delegate it.
. Service, attention, and experience will allow customers to stick with you, no matter the market or the competition.⠀⠀
. Have a LOT of good people in your company so customers do not leave you when your top employees happen to move to your competitors.
. A customer-centric and talented team is what you need!⠀⠀
. Capitalize on and invest in personal experiences with customers as a person (i.e. the founder) before the brand-customer relationship.⠀
. Data is very important, so make sure to collect all the data you need. ⠀
. Be different, act differently, and offer a different customer experience.⠀⠀
. Do NOT copy others! ⠀⠀
. In terms of business model, subscription models are rising stars these days. ⠀⠀
. For payments, cash on delivery was the king of payments, occupying 80% of preferred payment solutions. Now, with COVID19, it dropped to less than 50%. Still, it is always best to offer your customers multiple payment options, so follow market and competitor trends. ⠀⠀
With that, give incentives in order to encourage people to pay online and reduce your accumulated costs in case the customer does not accept your shipment after a cash upon delivery order. ⠀⠀
. As for logistics, it is highly recommended to outsource delivery and logistics to a reliable partner from day one. Also, never forget to set a solid return process from day one. Customer experience does NOT end after delivering a product; return time would kill what you have done perfectly for the end-to-end delivery. ⠀⠀
. NEVER leave your customers feeling like victims of shipping companies. ⠀
. Integrate, integrate, and integrate technology!⠀
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Are you now ready to start and/or scale up your e-commerce? I am here for a free startup mentorship! ✨ ⠀
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