The E-commerce industry is booming and if you are thinking about starting your online store then there is no better time than now. Global e-commerce retail sales have doubled in just three years. So the reality is that you must also expect to face fierce competition.
So how can you stay on top of the game and grow your business amidst these rapidly changing trends on how to grow an ecommerce business? Well, it is highly recommended that you must partner with an ecommerce development company. They won’t only develop an elegant ecommerce website for you but also help guide you on your way to the top.
On the other hand, you can hire an in-house development team, which is more costly in comparison to the former option but you can witness all the work closely and will be in total control. It doesn’t matter how you choose to go, there are a few things that you must consider.
Here in this blog, we will discuss the best tips to grow your ecommerce store given by the most successful ecommerce business leader around the world. So they are already battle-tested and there is no doubt that they will provide results beyond your expectations. So let’s get started without any further ado.
How to grow your eCommerce business?
1. Find an Ecommerce Platform That Can Grow with You
When it comes to building a successful e-commerce business, the most important thing that you need is a platform that can grow with you.
The first thing you must do is find an ecommerce platform that has all of the necessary features and capabilities. A lot of options are available in the market but of course, they are not the same as each other so it is up to you to decide which one is the best. The best ecommerce platforms will have all of the following:
- The ability to expand into other markets and countries
- A good payment gateway for accepting payments from your customers
- A strong focus on customer support services
- A strong focus on security and fraud prevention
If you want to build a successful e-commerce business, then make sure that you choose an ecommerce platform that has all of these features.
2. Find a Manufacturer That Aligns with Your Values
If you’re starting a brand new e-commerce store, you’ll need to find a manufacturer that aligns with your values. This is very important when you are just starting your business or growing your brand.
You want to do business with someone who understands how important it is for you to be ethical in your business practices and who also takes pride in their products.
Also, you want to put your brand at the forefront of each order, so you must be confident in the quality and consistency of the product.
Look for a manufacturer that has its factory in-house. It’s best to avoid outsourcing production overseas, as this can cause delays and quality issues. If you must outsource production overseas, make sure that the work is being done by a smaller manufacturer with high-quality standards.
3. Review Your Market Product Fit
If you’re selling a product or service that’s relevant to your market, it’s important to understand what makes that product or service unique and different from others in your industry. A market product fit review will help you understand what your customers need and how they want to use your applications and their features.
You can use tools like Google Analytics, HubSpot’s Marketing Optimization tool, or Amazon Seller Central to get a better understanding of what people are searching for when they look for your type of product or service on the web.
You can also use Google Search Console to see which keywords people are using when they search for your products or services, as well as other information about your site traffic.
4. Launch or Relaunch a Product
If you do not have wonderful sales on a product then it’s time for you to either launch a new product or make changes to an existing product as per the customer’s needs and then relaunch it.
Just have a look at some of the things you must consider while launching or relaunching the product:
- Get customer feedback.
- Ensuring that your E-commerce site is easily navigational and user-friendly.
- Add social media sharing buttons to your website or blog posts so people can share their experiences with others who might be interested in what you have to offer.
- Understand what makes people buy — and don’t just guess! Ask them directly what they like about your products or services, then find out why they aren’t buying them more often by asking more specific questions about why they didn’t buy in the first place (e.g., “What stopped me from buying?”).
- Use analytics tools such as Google Analytics to track how many people visit your site and how long they stay there (and whether they leave without making any purchases), as well as which pages are most popular among potential buyers.
5. Invest in Email Marketing
There isn’t any other channel that is more effective than email marketing. It is highly reliable for both building the customer base and increasing your business revenues.
Email marketing can be used for:
- Reaching out to new customers and prospects, as well as retaining existing ones.
- Promoting new products or services, as well as sales events, webinars, and other offers that are relevant to your audience.
- Ahead of sales or promotions by offering valuable content that will help them decide on whether they want to buy from you or not.
- Providing customer support which includes solving their queries related to the product and sales.
6. Use video marketing
For e-commerce companies, video marketing has grown to be a powerful resource for engagement, sales, and brand visibility. So it is essential to create your videos qualitatively and effectively which can be done by using a video editor that helps to add proper effects, transitions, and music to make the video eye-catching. Following are some of the main applications of video marketing for online shopping.
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Product demos and tutorials: Videos are a great method to demonstrate your items in use and help clients understand how they operate. Sales may rise as a result, while returns may decline.
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Customer testimonials: Building trust and reliability with potential consumers may be improved by using video testimonials from happy clients. These might help in boosting sales and conversion rates.
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Brand storytelling: Videos may be used to communicate your company’s narrative and help customers better understand your goals and beliefs. This may help to establish a solid emotional connection with your target market.
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Social media marketing: YouTube, Facebook, Instagram, and other social media sites all benefit from the high sharing of video content. This can raise brand recognition and increase visitors to your online business.
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Influencer marketing: In collaboration with bloggers and influencers, videos may be utilized to promote your items. By doing so, you may be able to expand your audience and gain the trust of potential clients.
Overall, video marketing can be an effective way for e-commerce businesses to connect with their target audience, drive engagement, and increase sales. By using video content in a strategic way, businesses can stand out in a crowded online marketplace and build a strong brand reputation.
7. Don’t Blow Your Budget on Ads
Many people think that the best way to grow their business is through advertising. While this might be true, it’s also true that you won’t be able to afford all of the ads you need if you don’t possess a fantastic offering to sell.
Since most advertisers want their customers to see ads, they will charge a premium for them. If you don’t have a high-value product or service, then it makes sense for your competitors to use their advertising budgets on yours. This means that you’ll need more money than usual just to get started with E-commerce and advertising.
Don’t blow your budget on ads and try instead to focus on building your brand and growing your customer base organically instead.
8. Embrace What Makes your Brand Different
Another thing on the list is to embrace what makes your brand unique. This way you can use your unique selling point (USP) to your advantage in marketing strategies. For example, if you have an eco-friendly product, then it would be great to use this USP in your marketing materials, e.g., by using green packaging or promoting the fact that it’s made from recycled materials. Highlighting your eco-friendly product can be further emphasized by incorporating sustainable custom folding cartons as part of your packaging. This not only aligns with your brand’s commitment to environmental responsibility but also serves as a tangible representation of your unique selling point.
An alternate way to make use of your USP is by positioning yourself as an expert in a certain field. If you are an expert in designing websites, then position yourself as such through content marketing and social media.
If you are an expert in customer service, then make sure that your customers know about it!
Final thoughts
An e-commerce store owner must see to it that their business is always growing. And in these rapidly changing times, if your business isn’t growing then you have reached a state where you must make necessary changes to move ahead.
One of the most important things you must understand while growing your business is that it isn’t the platform or the technology that makes your online store stand out from others. It’s how you use those resources to provide value to your customers that’s what matters in 2022.
