An E-Commerce Platform Bounces Back with Several Strategies

E-commerce platform is designed for online sellers that functions to generate checkout payment links as well as manage the shipping of goods. This platform was created due to complaints from sellers about the increasing costs of marketplaces and desire of logistics partners to capture the shipment traffic from top marketplaces like Shopee, Tokopedia, Blibli, and Lazada. This e-commerce platform has been operating for 6 months, but user traffic and transaction volume on the platform are still low. They are curious whether the product does not fit the existing market or the marketing conducted is not effective.

The Story

So they contacted Monica & Co Business Advisory to try to help them find the answer regarding this problem. They also expected Monica & Co Business Advisory to recommend some strategies that they can implement to boost their user traffic and transaction volume.

To find the root cause of this problem, Monica & Co Business Advisory do some analysis, such as gap analysis, market analysis, competitor analysis, and user analysis. After doing these analyses, Monica & Co Business Advisory give e-commerce platforms some important insight (finding) and strategies or solutions that can be implemented to achieve their goals.

First strategy is determining the product-market fit focus whether they want to focus on becoming a B2C social commerce or a B2B marketplace platform. If they want to become B2C social commerce, they must fix and add some features for sellers such as accelerate the SLA payout balance process to a maximum of 1 day, thereby helping sellers who need to withdraw their sales proceeds as soon as possible. Not only that, e-commerce platforms also must create clear guidelines for the release of sales results to the seller's balance and adding CRM analytics so that sellers can comfortably use the platform.

For the buyer itself, e-commerce platforms can convince buyers that spending through their platform can provide on time delivery processes, with credible logistics partners ensuring punctuality. The platform also can offer free shipping promotions to attract buyer trust and increase buyer interest in trying to shop on their platform and providing more payment options.

Second strategy that Monica & Co Business Advisory gives to e-commerce platforms is formulating an effective marketing strategy based on the focus of the product. If they want to focus on B2C social commerce, they can make video marketing using the storytelling concept to communicate the message of free shipping, delivered consistently across various social media platforms such as: Instagram, YouTube, TikTok. Both organically and through ads. The platform also can create educational articles about e-commerce on their website to educate their seller and buyer. On social media, they also can create testimonial content from sellers or buyers that already use their platform so potential users can have a look and try to use it.

Our Approach

After getting important insight and some strategies from Monica & Co Business Advisory, e-commerce platforms slowly but surely can bounce back from their old problem which is low user traffic and transaction volume. Right now, their user traffic and transaction volume start to grow thanks to some insight and impactful strategies.

The Impact

*We take our clients' confidentiality seriously. While we've changed their names, the results are real*

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