![]() ![]() Once you understand the trends that set apart your highest value customers, you will be in a better position to develop strategies that meet their needs. Think about that group of customers and ask what shopping and purchase experience they require. Then go a step deeper and understand what makes them unique.įor instance, you might create a high-value commercial segment for business customers with an average order value of over $10,000 and further segment it for a product line. It is important to identify who are your key customers and segment them by defining characteristics such as: In the first building block we are going to look at customer segmentation. I am going to explain how you can use this tool to examine every aspect of your business in the context of e-commerce. To enable this reflection, our team often use Strategyzer’s Business Model Canvas (or BMC). There are several things to consider when thinking about expanding your business online. Customers could be forming habits that will last long after the pandemic has passed, whether your company sells to other businesses, directly to customers or to both, as e-commerce behavior is similar. E-commerce sales have more than doubled for basically every type of merchant since the beginning of the crisis, according to Absolunet, a Montreal-based e-commerce consultancy.įor entrepreneurs who want to develop their e-commerce business, the time to act is now. ![]() The COVID-19 crisis has created an unprecedented rise in online purchasing by Canadian consumers. ![]() ![]() Growth & Transition Capital financing solutions Kauffman Fellows Program Partial Scholarship Venture Capital Catalyst Initiative (VCCI) Industrial, Clean and Energy Technology (ICE) Venture Fund ![]()
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