E-commerce, especially in the specialty food industry, has grown exponentially amid the pandemic. This has presented the opportunity for companies who were previously not leveraging e-commerce to get in the game, and enabled companies who had already dipped their toe in online selling to enhance their strategy.
Whether you are just getting started or looking to level up, here are five tips delivered by speakers to SFA's Ask the Experts webinar series.
1. Get to know the e-commerce trifecta.
Amazon, Walmart, and your own website are the three major platforms for e-commerce, according to Lou Nicolaides, president of Ludwig Marketing & Sales. Amazon is helpful in launching or improving your storefront, Walmart helps to build a new audience for your specialty products, and your website is the best place to connect directly with consumers, he said.
2. Amazon has many moving parts.
Even though selling on Amazon is a simple and easy way for companies to get their brand out there, there are several things brands must consider, said Clint George, founder of Brand Focus Digital. “Just listing your products and assuming you’ll sell a lot is a common misunderstanding,” he said. To be successful, you’ll need to build your base content, stay in stock, and execute promotions.
3. Specialty food makers can be successful on Walmart.
Though some companies may wonder if they are the right fit for Walmart, it is slowly becoming a major competitor with Amazon, said Nicolaides. Walmart.com has over 110 million unique monthly visitors and has experienced 35 percent year-over-year growth. In addition, more and more gourmet brands are being listed, making it a great fit for specialty food makers.
4. Your website must be easy to navigate and differentiate you from competition.
“What you’re selling and how you’re different from competitors must be very clear within a couple of seconds of visiting your website or people will not stick around to buy your product,” said Tony Cox, president of 5th Food Group. Cox suggested getting honest and specific feedback from people who haven’t seen your website before.
5. Invest in technology.
To take your e-commerce to the next level, Steve Gaither, CMO of CA Fortune, recommended incorporating predictive planning and artificial intelligence into your strategy. To continually optimize, Gaither said, “update your models with the latest marketing and financial data, and tie your marketing investment directly to financial results.”
Visit the SFA Learning center to view all of our educational content.