At some point in its journey, every business owner wonders whether it’s time to take things further and grow your eCommerce business. There are multiple factors you can do to boost the growth of your business. Focusing on the overall strategy of your business can affect various areas, including its productivity and cost structure.
Regardless of whether you have started an eCommerce business from scratch or purchased one from an eCommerce business for sale listing, there is always room for growth. So, here are the best ways you can grow your eCommerce business this year:
Revise Your eCommerce Software
Existing eCommerce software could be an obstacle to your business’ growth. If your software is outdated and doesn’t offer powerful features such as multichannel marketing and automation, it’s time to reconsider the software you’re using.
Apart from software, you should also reconsider any services you’re currently using for your business. There are many new services available that can help you simplify your tasks and perform functions that were previously not possible. For example, this efficient background removal service can make image editing a piece of cake.
Use Post-Purchase Automation
Marketing automation is one of the essential tools you can use to improve your sales exponentially. Such tools allow you to set up sequences that can build relationships with your customers and upsell to them based on their previous behavior and actions.
For instance, suppose your eCommerce business specializes in sportswear and sports equipment. If a customer bought tennis shoes from you, you could send them follow-up emails for other tennis apparel and gear, such as shirts, shorts, and rackets.
Post-purchase automation could boost your revenue substantially. Moreover, the scope of these follow-ups is wide and could be taken in any direction you want it to. There is a wide variety of approaches you can take, including sending personalized emails to your customers if they haven’t made purchases in a while and cross-selling other related products.
Automate Special Discounts
An essential route to success for any eCommerce business is to build customer loyalty. An excellent way to do this is by sending out personalized offers on your customers’ birthdays and anniversaries through automation. Additionally, you should also capitalize on different seasons and send specialized discount coupons for exclusive offers.
Many marketing automation tools allow you to create such sequences that send customers personalized emails on these events and at periodic intervals after they make a purchase.
There are multiple offers you can make during such events, including dollar-off coupons, percentage discounts, and free shipping. Dollars off after a certain amount of purchase, such as $10 off on a $60 purchase, are usually the most effective.
Expand To New Markets
Many online businesses often ignore the idea of expanding to new territories and targeting customers from other countries. While you can take the more straightforward route and use a plugin or add-on that translates content on your website, it’s always better to get a professional translator on board who can help you in this area.
If expansion is a step you’re ready to take, you should also account for other things, including SEO and whether payment processors work with those countries’ currencies.
Use Long-Form Content Marketing
Long-form content, which usually includes the content of a few thousand words, could potentially become some of the most engaging and valuable content you could create. It’s an excellent way to boost social media engagement, your ranking on search engines, and overall revenue.
Additionally, you could create guides focusing on different product categories to attract targeted traffic. The best part is that these guides are a one-time effort and only need to be produced once.
Focus 80 Percent Of Effort On Your Best Products
It’s widely believed that 20 percent of your products generate 80 percent of the profits. By focusing your efforts on a limited number of your products that largely contribute to success, you can grow your eCommerce business to new levels. This is because it’s much easier to develop an already-successful product than it is to build one that is yielding mediocre performance.
Use Multichannel Marketing
Using traditional ways of marketing and sticking to those will only yield subpar results. However, if you want to make your eCommerce business break through the clutter, you need to think outside the box and utilize marketing channels your competitors aren’t even thinking about.
Two extremely unconventional channels that you can incorporate to your marketing strategy are postcards and SMS messages. There are many CRM platforms available that allow you to send personalized messages to your target audience and keep them engaged.
Additionally, you should never overlook popular channels of marketing, including email marketing and social media marketing. For instance, for the former, email marketing statistics show that email users will grow to approximately 4.4 million global users by 2020. This indicates that adopting a multichannel approach and utilizing every channel available to your business is vital.
At any point in time, your eCommerce business would either be in a growing or stagnant phase of its life cycle. To ensure it’s always in the growing stage, you need to determine your target market and figure out what your consumers require. Additionally, you should keep trying out new software that can maximize your business’s performance and maintain efficiency at its peak.
eCommerce businesses, in general, have shown no signs of slowing down, so it’s always better to explore different possibilities and figure out what your business is currently lacking.
What other ways can you grow an eCommerce business? Let us know in the comments below.