20 Tips for Building, Growing and Scaling Your E-Commerce Business
If you want your e-commerce business to grow, you need to invest time, money and resources into it. While starting a new e-commerce store or business, you need to follow certain strategies. E-commerce is a sector which is booming tremendously and is literally worth billions of dollars. Consider that the world’s largest online marketplace, Amazon made USD 2 billion on Prime Day in 2017 alone! Here’s how you can get there too.
#1 Schedule for Consistency
While proceeding with a new e-commerce business, you need to follow a schedule that is consistent. This ensures customers know when to check back for deals and discounts. For example, if products are added each month, they should be added the same day in the month so customers know when to look. If a blog is operational, adding posts on the same day encourages others to check back. One loses customer loyalty due to inconsistent brand building or marketing messaging efforts.
#2 Build Your Channels Right From the Start
As soon as one buys a store domain name, it is vital to start building out an audience. Start with posts on social media to grow a fan-base so when you launch, there’s an audience ready to purchase your products or service. Once the store is launched, you need to build referral traffic and collect email addresses. Building email lists can help to grow your audience faster; so can focusing on referral traffic and social media. Further, content can be promoted to the audience through different channels.
#3 Find the Influencers Your Business Needs
Building a relationship with influencers is important. Promoting your product through word-of-mouth publicity is the key here. Influencers can exert a powerful effect on the audience even the most popular celeb cannot. Influencers are harder to access than you think, but for building an e-commerce business, they are the best bet and well worth the effort.
#4 Ensure Customers Have Access to Services
Customers should be able to access everything needed to make an informed purchase decision in your store. Including shipping and return information ensures customers are aware of policies before the purchase. A great value for e-commerce shoppers is a site that is easily navigable and easy to access. Make sure your site is that one.
#5 Put Thought in a Copy
Adding copy is essential while importing products in the store. The product details don’t prompt high conversion, writing a compelling product description does. By writing a persuasive copy detailing how products benefit the customer, you can showcase what is so unusual about your e-commerce offerings.
#6 Make Websites Visually Powerful
The entire website should be graphically appealing. Product pages should have various product images showcasing different uses and angles. The homepage should have an attention-attracting banner image that draw the eyes to the product. Blog posts should be visual. Pictures of the products should be visually enticing. The website with visual features makes for a compelling user experience. After all, a picture is worth a thousand words!
#7 Be Specific With Product Categories
In the earliest stages, when you have a few products, putting them in a generic category may work. But as the store grows, you want to be more specific in product categorization. Having product categories also ensures consumers can browse the sections more effectively. This ensures customers find exactly what they are looking for and you gain higher sales volume.
#9 Think Social, Be Global
When it concerns social media, stores make the mistake of only being on one platform. Some post only on Instagram while others focus on influencer marketing. Others work on Facebook and use the ads feature. But using all the social media platforms is a better way to gain competitive advantage. Competitors can see which platforms you are and focus on more channels to outperform you, if you don’t. E-commerce businesses need to be on more than a couple of social media platforms.
#10 Create Unique Content
If one is drop-shipping products, it’s easy to find a way to stand out among competitors. The easiest way to do this is by creating unique products. Including blog posts several times a week is one way to build an audience, educate visitors while keeping websites fresh and enticing. Create videos to build your brand.
#11 Focus on Marketing
Marketing and adverts bring in money, so you need to focus on these. Actively post on social media everyday and several times. Contact magazines and blogs about featuring products. Don’t miss out on creating a budget for advertising. Writing blog contents ensures the website ranks well. By putting the store out there, you increase the odds of finding out more customers.
#12 Reduce Cart Abandonment Rates
Experiment with different abandoned cart apps and email types. If you can recover carts to the tune of even 1-5 percent, it will benefit your business. Abandoned cart rates, on an average, fall between 60 to 80 percent. While experiencing abandoned carts, you also need to have an active sales program to foster conversion. To improve conversion rates, you also need to send the first email within alteast 6 hours of cart abandonment, according to studies. Start with 10 percent discount and offer higher levels, if the cart is not recovered. Such efforts can yield rich returns for boosting the growth of your e-commerce business.
#13 Talk To Customers and Know Their Needs
Building relationships with customers is time consuming and important at the same time. To get better insights into customers, asking for feedback and reviews is the key. You need to understand the customer, whether it is regarding the products they need or blog content they are seeking in a particular niche.
#14 Build External Back-links
For reducing ad spend while raising revenue, building the back-links is essential. This can be done by promoting products on relevant and well-known magazines or blogs or writing guest posts on blogs. The more sources one has for driving traffic to the site, the less is spent on ads.
#15 Always Upsell
If one has upsell offers on different products, this is good for improving audience reach and boosting sales volumes. Loyal customers who have already made a purchase are more likely to shop using their card, if there are good upsell offers in place.
#16 Market Beyond Ads
Don’t limit yourself to monetizing on Facebook, Google or Instagram alone. Use everything from SEO to pitching products and well-known, popular magazines and blogs, creating content, being active on social media and email marketing. Marketing needs to move beyond ads. Build your audience on social media by using hashtags, posting many times in a day and sharing valuable and useful content.
#17 Retargeting Ads Works Well
If you’re looking to build, grow and scale your e-commerce business, retargeting ads is crucial. Pumping out tons of content on the blog and featuring influencers is essential. By retargeting your ad to carts, you can win back lost customers. It converts better than abandoned cart emails as well. Retargeting ads will have a low cost, but it converts customers not ready to make the purchase the first time around.
#18 Create a Balanced, Profitable Business
When it comes to running an e-commerce business, there are so many entrepreneurial skills you need to excel at. Collaboration and working for a balance is the key here. Balance your pitfalls by working with experts.
#19 Choose the Right E-Commerce Platform
Starting an e-commerce store is not possible without a reliable e-commerce platform. Opt for a platform that offers security, efficiency and affordability.
#20 Make Quality the Key Differentiator, Not Price
An important part of e-commerce business success is making quality the key differentiator, not price. Don’t trap yourself in out-pricing your competition. Whoever markets to customers best and offers the best value for money gets the optimal returns.
While you may get all the other factors right, one thing you cannot afford to miss out on is a powerful integration platform. An e-commerce platform that connects multiple apps is the key. It helps in focusing on core businesses and spend less time on manual entries. It also creates more efficient and timely transactions.
For the best e-commerce business, you need a cogent and effective e-commerce platform like Mart2Web. Learn why Mart2Web is the premier choice of online retailers. Find Mart2Web on Google Plus, LinkedIn, Twitter and Facebook. Or visit the site. Get the latest information about Mart2Web from the best e-commerce software company in India, Sankalp today!