More and more businesses have embraced the digital world because the grass really is greener on this side. Bigger customer base, diverse marketing strategies, niche markets, more customer trends data, greater returns, and the list goes on. So, if you haven’t already gone online with your business, you are missing out. If you are already an e-seller, congratulations! You are a step ahead of 27% (PRNewswire) of your competition. On the other hand, are you confused about your next steps? Would you like your online business to grow but don’t know how to do it? More sales and a higher profit margin? Not to worry! Let us help you in your e-commerce growth.
We have compiled proven methods that are actionable and easy to incorporate into your business strategy.
What is E-Commerce Growth
To understand e-commerce growth, first, let us define the terms.
Expanding into electronic commerce, this refers to business transactions conducted over an electronic network. Namely, the buying and selling, and/or the transfer of funds happen through the internet.
It is listed as ‘the process of increasing revenue, expanding your customer base, entering new markets, and earning a bigger share in the Martillo Glossary.
This is the same way growth is denoted in a brick-and-mortar business. The difference is that this happens in your virtual store situated on the world wide web. Thus, the way you go about growing your business changes. The way customers approach online shopping and traditional shopping is drastically different. There are distinct trends and contrasting customer behaviors. Numerous research has been conducted on this very issue, and the results have left many experts stunned.
For example, did you know that people tend to buy more when shopping online? That men spend more money online than women do? That consumers take more time on an online purchase than when they shop in physical stores?
Due to the unique landscape of the internet and, of course, the glaring differences in consumer behavior, you must adapt and adjust the way you approach your online business to ensure the e-commerce growth rate increases.
Below we have 5 practical and doable tips to increase your e-commerce growth.
5 Proven Strategies for E-Commerce Growth
1. Omnichannel Marketing
Omnichannel just might be the word of the decade with how much attention it is getting. And rightly so. Omnichannel marketing has radically changed sales numbers convincing more businesses to get in on the hype.
Omnichannel marketing is the use of various channels to interact with customers. That is to say, the business would have a network of all of its touchpoints so that customers can approach the business through multiple platforms. It can include a brick-and-mortar store, social media, email, website, apps, third-party shopping websites, and more. The idea is to be available on whichever route the customer takes.
A side-effect of omnichannel marketing is that it builds credibility. The internet has its own share of swindlers and knowing that you are a registered business gives you a boost over unknown names.
Most customers, do online research on the product they hope to buy before they even enter a physical store. They will compare prices, go through reviews, and read up on the company. Making use of omnichannel marketing will help increase conversions
2. Additional Sales Channel
Similar to the previous point, by making use of additional sales channels you become a seller on various platforms. These platforms have gained the trust of their shoppers by providing high-quality products for reasonable prices. Some of these platforms boast almost half the world’s population as their customer base. So, it comes as no surprise that they also have a massive data bank on consumer profiles and buying habits.
Some of the most popular sales channels are Amazon, Shopify, Etsy, and eBay. Expanding into these platforms exposes your business to a new group of consumers. Being seen in places that consumers trust and shop often helps the consumer extend that trust to your business by association. A bonus is that, for small businesses, having your products and services listed alongside the top names in the industry will give your sales a boost. The prestige of those brand names will be reflected upon you simply by existing on the same webpage.
These platforms allow your business to be where shoppers congregate with the sole purpose of shopping.
3. Search Engine Marketing Fad
Search Engine Marketing (SEM) is a mix of search engine optimization (SEO) and paid advertising. SEO is a long-term game where you generate organic traffic through quality content. Paid advertising is short-term, both in how the return comes in a shorter time period and because the generated traffic lasts for a shorter time period. They have their individual advantages and a smart campaign would be one that incorporated both. Paid ads to help put your products out there and basically strong-arm your business to become a familiar name. SEO and high-quality content to ensure people find a reason to stay when they click on those paid advertisements.
SEM helps build brand awareness and increases website traffic. It also allows you to measure your progress as ad hosting platforms like Google Ads give you a whole lot of data on how your campaign performed.
One of the main attractions of SEM is that you can target your audience. Whether you wish to focus on a certain geographic location, a specific age group, or customers with precise interests, SEM helps you get there.
4. Responsive Website
Studies show that about 55% of web usage comes from mobile devices. People now use a range of smart devices to connect to the internet and search engine algorithms have adjusted their metrics accordingly.
If your website is compatible across a range of devices, your website will be given greater importance on the Search Engine Results Page (SERPs).
Mobile phones are easier to access when on the go and more than half the research on potential purchases occurs on mobile devices.
Interestingly, the finalization of purchase is more likely to happen on a pc than on a mobile phone.
5. Immediate Customer Support
By immediately addressing any concerns your customer might have you are showing them that they are valued and that you are there for them in their moment of crisis.
A lot of customers reject the purchase just before it is finalized due to insufficient information or other doubts regarding the product. If you were to be there for them during this time and encourage them by highlighting all the benefits of the product and alleviating any doubts they may have, you would have a significantly larger number of conversions.
You can do this by making use of FAQs that are curated to SEO-certified keywords dedicated to common queries.
Many platforms make use of a virtual assistant, similar to an in-store shop assistant. This is done by either an AI-powered chatbot or an actual person being available to chat with potential buyers.
This retains customers and cultivates loyalty. Your customers are more likely to return and their next purchase, according to case studies, should take less time.
E-commerce growth rates are severely affected by the marketing strategies you use. There are practical methods that are easy to implement with guaranteed results. These are tried and tested with numerous case studies to back them up. However, the digital world is always evolving and you need to be on your toes.
Most businesses make use of digital marketing agencies to take care of the marketing aspect of things so that they can focus on other aspects of the business like expansion and supply. It is a full-time job in and of itself and the professionals have a lot of fancy techs that make their job easier. Plus they are experts who have been doing this for a long time and will guarantee results.
There are a lot of digital marketing agencies in the UK with a range of prices. You can still get the top digital marketing agency in London within your budget if you are willing to streamline your search and go for a specialized agency.