Have you ever thought of expanding your business to other regions or countries? It’s the go-to strategy of most major ecommerce players, particularly Amazon. Of course, it’s much easier said than done—but not impossible.
To cap this week, let’s talk about business and reach expansions and how you can achieve them.
- Global expansion or ulterior motive? 🌍
- A perfect strategy to reach millions of customers 👌
- The secret to a 10x higher conversion rate 💬
AMAZON NEWS
Remember Amazon’s discount web store plan? Experts have already voiced their concerns about this, but Amazon seems more eager to move on to an ‘unofficial’ new phase.
EconoTimes reported the retail giant was expanding its merchant network across China to strengthen its global reach. Here are the deets:
💡 The strategy
- Last July, Amazon held an event for online sellers in Shenzhen to pledge its support to Chinese merchants planning to enter the global market. It even called itself their “reliable partner in the ecommerce industry.”
- The company recently opened new offices in Wuhan and Zhengzhou to assist local sellers in exporting products and developing their brands.
- Amazon is also actively recruiting vendors via its official WeChat account, even offering seminars on how to list products.
🤔 The ulterior motive
The plan is indeed beneficial in terms of cost-cutting and global market expansion. But of course, Amazon also hopes to achieve something on the side—get ahead of its Chinese competitors in the global ecommerce game.
China is now one of the most prominent suppliers of low-priced items. With this advantage, Amazon can further fuel its cross-border expansion plans.
And Amazon being Amazon, it’ll probably succeed despite the not-so-good first impressions.
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BITES OF THE WEEK
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TECH MARKETING
Boost your conversion rate 10x with conversational commerce
Around 91% of customers prefer real-time assistance, specifically having exchanges with a real person rather than bots. But let’s face it, not anyone has the time or resources to always deploy human support.
That’s where conversational commerce swoops in to save the day. In a nutshell, it’s the use of messaging technology to allow real-time interactions between buyers and brand representatives. But as Retail TouchPoints puts it, it’s an ecommerce strategy that could be your next sales booster. 🚀
How do you throw conversational commerce into the mix?
Thanks to modern technology, the rise of AI and large language models (LLMs) make it easier to implement and scale.
- Identify active customer touchpoints. This is where your target customers are (e.g., ecommerce sites, social media).
- Choose the right conversation mode. Have live agents for high-value interactions and AI chatbots for general inquiries. You can also use SMS or optimize chatbots for mobile users.
- Be consistent. Integrate chatbots across all digital channels.
- Continuously update and refine chatbot data for improved performance.
🫵 And why should you use this strategy?
Conversational sales have up to a 10x conversion success rate compared to regular marketing. So yep, providing a hands-on service available 24/7 to customers worldwide will definitely pay off sooner than later.
When it does, we wanna know how much your sales have improved. You know you can always send us a message. 📩
