Read more: Visit websiteHeadlines:
Leverage Technology for Competitive Advantage": * "Embracing AI for Competitive Advantage: Companies That Fail to Adopt AI Risk Being Left Behind" (Source: Forbes) - The article highlights the significance of adopting Artificial Intelligence (AI) technologies to stay ahead in the competitive marketplace. * "Walmart Leads Retailers in E-commerce Growth with Focus on Digital Transformation" (Source: Bloomberg) - The news highlights Walmart's success in staying competitive by prioritizing digital transformation and e-commerce growth. * "Amazon's Acquisition of Whole Foods Market Set to Change the Retail Landscape" (Source: CNBC) - This article discusses the implications of Amazon's acquisition of Whole Foods Market... solidifying its position in the competitive retail market. * "Asia's E-commerce Boom Powers Online Shopping Growth" (Source: The New York Times) - This article reports on the rapid growth of e-commerce in Asia, "fueled by the adoption of digital technologies and increased consumer demand." * "Google's Cloud Computing Service Promises to Revolutionize the Way Businesses Operate" (Source: CNN) - The article highlights Google's Cloud Computing service, potentially disrupting traditional business models and enabling companies to operate more efficiently. * "China's Internet Giants Expand Global Reach with Mobile Payments" (Source: The Wall Street Journal) - This article discusses the expanding global reach of Chinese tech giants... driven by the popularity of mobile payments and digital wallets. * "Data-Driven Marketing Strategies Boost Customer Engagement and Conversion Rates" (Source: Harvard Business Review) - The article emphasizes the importance of data-driven marketing strategies in driving customer engagement and conversion rates, "as companies strive to stay ahead in the competitive marketplace."
Rytis Lauris is the cofounder and CEO of Omnisend , a marketing automation platform built for e-commerce.
Today's online retailers face an important decision: which channels they should sell on. Should they only sell direct-to-consumer (DTC) via their website, rely on established marketplaces like Amazon or adopt a hybrid approach?
Though each channel offers pros and cons, what makes the decision more difficult is the emergence and unpredictability of other channels. Some social media companies have launched ecommerce capabilities, like TikTok Shops, but they also come with the unpredictability of regulatory bans , making it harder for brands to know which channels are worth investing in.
Choosing the right channel strategy can be the key to running and growing a successful online business. Drawing from my experience working with ecommerce marketing platforms, here are pros and cons to consider when deciding on the appropriate channel for your products.
• Complete Brand Control: When selling on a branded website, you control how your brand is presented, your messaging and your customer experience.
• Increased Margins: By eliminating middlemen, like Amazon, you can earn higher profit margins, which can make this strategy especially appealing.
• Building Customer Relationships: Because you control the experience and customer data, you can use personalized marketing, such as email and SMS, to foster stronger, direct relationships with customers, helping to increase brand affinity and loyalty.
• Marketing Costs: Investment is typically required to increase web traffic and customer acquisition.
• Operational Costs: The costs of maintaining a website, ecommerce and marketing platforms, inventory and shipping and logistics can quickly add up.
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