How to Grow your eCommerce Business in 7 Ways | Online Stores Guide
So you've decided that starting a new eCommerce business is a wonderful idea. Perhaps you've already started one and are wondering how to make it a success. Whatever your circumstances, there are a number of steps you can take to guarantee that your eCommerce business does not get lost in a sea of websites and goes unnoticed. Starting a business, whether it's a traditional one or an online eCommerce one, may be difficult. You must be proactive in identifying potential consumers and working with them to guarantee that they purchase products from your business and return.
According to the Bureau of Labor Statistics, around 20% of small firms fail in their first year, and approximately 50% fail by the fifth year. While they aren't particular to eCommerce enterprises, they do demonstrate that you can't just put up an online store and expect people to flock to it. We've looked at eight steps you can take to help your eCommerce business develop, especially if it's still in its early stages. However, many of these will continue to be important throughout the life of your site, and even huge sites like Amazon participate in them on a regular basis.
1. Target Audience
Many newcomers to the internet make the mistake of attempting to appeal to everyone. That may be OK for massive corporations like Amazon, but that is not the way most successful firms work. Even Amazon didn't start off that way. They started off selling simply books and only extended their product line after they had achieved some popularity.
You must determine who your product's target market is. You must specifically determine the sorts of people who are most likely to be interested in purchasing your items. Once you've realized this, think as they do. You may focus on marketing these perfect items for your target audience once you've developed a supply (or manufacturing line) for them.
2. Upsells and Cross-Sells
Upsells and cross-sells both attempt to add value to a purchase. They also offer the added benefit of strengthening your client relationship and, as a result, promoting repeat business. Upselling is persuading clients to purchase a higher-end product that is identical to the one they were contemplating initially. When you urge your consumers to buy similar or complementary items, this is known as cross-selling. You could, for example, have written an eBook that you sell through your online store.
Know more about how to Upsell and Cross-sell in this detailed article.
When a client buys an eBook, you might send them an automated pop-up offering they buy a more expensive "elite" edition with extra sections. This is an example of an upsell: instead of the more basic version they were going to buy, you're selling them an upgraded and more profitable item.
You frequently upsell by displaying product feature charts, indicating how much more value the more costly item provides over the less expensive version the buyer was planning to buy. Despite having to pay more, the consumer will typically be pleased as a result of the increased perceived value. Cross-selling is defined as the identification of supplementary items that provide satisfaction not provided by the initial offering. These are frequently goods that the client would have acquired at some time in the future regardless.
Know more about how to Boost Your Ecommerce Sales in this detailed article.
Upsell & cross-sell your customers by offering extra products, related products, and automatic free gifts through a one-click, tactful upsell popup.
3. Customer Service
Another thing you can do to attract repeat business is to provide the finest possible customer service. Remember that the sales process does not end with the closing of a deal. Because, unlike a physical store, buyers cannot touch or feel your goods before purchasing, you must alleviate their concerns by making the purchasing process as painless as possible. You must also give them the assurance that they may buy from you with confidence, knowing that you would assist them if something goes wrong. Poor customer evaluations will not only lower the likelihood of a pleased repeat client returning.
People rely on product reviews when making purchase selections, which is another key element of eCommerce. According to Oberlo, nearly nine out of ten buyers check reviews before making a purchase, with 56 percent reading at least four reviews. In addition, over half of all internet users claim they provide evaluations at least once a month. As a result, if you want your consumers to leave wonderful evaluations, you must provide excellent customer service.
4. Customer retention & loyalty
It is far easier to sell to an existing customer than it is to a stranger. People who have already determined they enjoy your items should not be ignored. They will return if you reward them with excellent customer service, high-quality items, and reasonable prices. If you're lucky, they'll tell their friends about it as well.
Too many firms focus their marketing efforts on attracting new visitors to their website. They overlook the fact that they already have a loyal following of delighted consumers who will gladly return when they require a replacement or a related new product. Some businesses provide their greatest deals to new consumers, which can make old customers feel unwanted, unloved, and taken advantage of. This is especially true if you use the subscription model since it can lead to repeated churn as consumers switch suppliers in order to get another "welcoming" price.
Depending on your mark-up, you may try offering promotions to current consumers on certain product lines, such as "buy one, get one free." Another frequent technique is to provide your clients loyalty cards that entitle them to a specific reward after a certain amount of usage.
5. To be global
If you run a typical store, you're confined to having a client base in the immediate vicinity. Short of setting up some kind of eCommerce extension, the only option to increase your client base is to establish more branches at a high cost. Most eCommerce firms, on the other hand, cater to a worldwide clientele. If your product appeals to a worldwide audience in any manner, you should consider include international shipping information on your website. Of course, if your product is digital, shipping it to the other side of the planet is no more expensive than shipping it to your neighborhood.
6. Discounts
One of the biggest problems in Shopify most merchants suffer from is its restrictions on discount codes and automatic discounts. Your customer can’t use more than one discount on one order. Offering discounts on purchases is a way to quickly draw people into your store. Right?
But the real problem appears when a customer has more than one discount code and can only use one code at a time.
Let’s assume that a customer of yours has a normal off discount code and a free shipping code. He/she will definitely be upset to use only one discount code and not both in the same order. DiscountYard brought you the solution by stacking different discount codes together (such as automatic discount, normal discount code, free shipping discount, buy X get Y codes) as much as you allow your customers to do.
It also allows you to run multiple automatic discounts at once to different products/collections and customers will see how much they are saving before getting to the checkout.
Stack discount codes, discounts field on cart, combine discount codes, run multiple automatic discounts and more!
7. Content/ Influencer Marketing
Content marketing and influencer marketing are two important types of internet marketing. Both need you to provide quality material that will pique the interest of your potential consumers. The major distinction is that with content marketing, you develop and distribute your own material, but with influencer marketing, you pay influencers with large audiences to do it for you. Positive ratings assist all eCommerce firms, as we've witnessed. When influencers are the ones writing the reviews, the impact is amplified.