Every online business transaction (eCommerce), especially on a customer-to-customer eCommerce level (C2C eCommerce), has an element of fear and anxiety in it, from both sides engaging in the deed. Sellers might be afraid that the customer will not see the payment through, and customers can be afraid that they will never receive the product they ordered. These are not the only sources of fear present during eCommerce, but nevertheless, majority of them has to do with mutual trust. Trust and loyalty from the one party to the other during C2C eCommerce is a necessity for a business to survive, grow, and thrive. This article will dig deeper on the elements of loyalty and trust, and how they can be developed during C2C eCommerce.
Clarity's eCommerce Marketplace platform has been used in such marketplaces for more than 10 years.
A C2C eCommerce platform without customers has no reason to exist. A C2C eCommerce platform with customers who are not loyal will not go very far. A C2C eCommerce platform with customers who cannot trust the sellers and vice versa, again, will not make it afloat across the “sea” of eCommerce platforms available today. eCommerce customer loyalty is a huge factor of success, affecting the success pathway of a business and carving its fate. We have all herd stories about issues with various companies, from product subtraction due to contaminants in specific batches, mistreatment of employees, minor or major issues with the products sold, unavailability for refunds, poor customer service, data security breaches, and so many others. Issues like that can harm the reputation of a business, not necessarily because the product or service sold is bad per se, but because the customers will stop trusting and company and buying its products or services. One could argue that if an eCommerce business, especially one using the C2C business model, manages to create a loyal customer base, then success is predetermined.
Well, a general benefit from having loyal customers who trust a C2C eCommerce platform, is “success” or “growth”. But what do they really mean, and how can they affect a business and their strategy? A big part of a company’s money is spent in marketing, trying to attract new customers and maintain the existing ones. If a company has a loyal customer base, then they might be able to cut back on their marketing strategy, and allocate those funds in other areas which might need it. Another benefit of having loyal customers, is the reassurance that if something goes wrong, then due to behavioral psychology, customers will be more inclined to keep trusting the company rather than immediately and fully lose their trust. Last but not least, a great benefit of having loyal customers, is that they can contribute to the promotion of the company dramatically, on a voluntarily or paid basis, through word of mouth. Word of mouth is a powerful tool, especially for C2C eCommerce platforms, where customers have plenty of options, and especially in today’s era, where social media have a great impact on eCommerce.