Follow These 5 Tips to Grow Your Ecommerce Business
Running an ecommerce business is not an easy task. Even though most of us know the phrase ‘If you build, they will come’, this does not fully apply to ecommerce businesses. If you think that customers will come just because you have built a business or website, you are wrong.
You should also know that no matter how good your products or services are, it is normal for a business to reach a plateau or even a decline every once in a while. And if this is happening to your business, you shouldn’t just watch it going down without doing a thing. Instead, you should start growing it again.
Internet marketing plays a major role when it comes to the ecommerce industry. Without it, there can be no customer engagement, no brand recognition, and ultimately no sales. A great ecommerce business requires a good deal of effective marketing strategies. Below you can find out the tips and tricks that can really elevate your business.
Build a well-tailored website
Since you want to run an online business, the first thing you need is a solid website. Some of the most important elements of a website include:
- domain name
- hosting plan
- website design
You need to think of your website the same way you would think of your brick-and-mortar store. No one likes to shop in a decrepit city neighborhood or in a store with a goofy name. You don’t need to be a business expert to know that these things can easily repel customers.
First of all, you need to come up with a great domain name. The name should be short, catchy, and relevant to your business. If you have trouble coming up with an effective domain name, there are some websites that you can use to generate a domain name for your business.
Once you are done with the domain name, it is time to find a reliable hosting plan so that your website remains stable and fast at all times. A good hosting plan ensures that your website will not unexpectedly go down due to technical issues.
You need to be careful when choosing website hosting, since many hosting plans come at low prices. This may attract you at first but you should know that if it is cheap, it probably doesn’t make the grade. Cheap hosting plans can make your website slow and you definitely don’t want to annoy your customers with unreasonable loading times.
Secondly, if you opt for shared hosting, you may be in trouble because once one website on the server gets a lot of unexpected traffic, other websites will suffer. That is why you should invest your money into having a server or two all to yourself.
What you could also use is reliable load balancing. This way, the traffic will be distributed to more servers, thus balancing the load and preventing breakdowns.
Finally, you should invest in ecommerce website design. Looks matter, especially when you have an online store. The overall appeal of your website is an important factor, since it greatly affects the visitors’ decision to make purchases on the website. On top of that, when you have a sweet website design, the whole business will look more professional.
Expand and evolve through affiliate marketing
A good way to increase ecommerce conversion rates is to introduce an affiliate marketing strategy for your business. Affiliate marketing is a performance-based marketing strategy that provides commissions to affiliates when they send you closed deals (sales).
This kind of marketing is quite beneficial to ecommerce businesses, since as an owner you only pay when affiliates send you customers who are ready to buy. Of course, creating an affiliate program is not easy but fortunately enough, there are quite a few different strategies that can help.
For example, you can reward a commission for direct sales but you can also do it based on a number of other actions on the website. However, it all boils down to the agreement between you and the affiliate website you work with.
You can choose to pay a commission for:
– direct sales
– generated leads through emails and social media
– traffic generated through clicks
Invest in social media
Having a social media marketing strategy is always a good idea, since there are millions of people visiting social media platforms on a daily basis.
Facebook, Instagram, and Twitter are the most popular social media platforms and among the top performing websites in general. That is why investing in Facebook and Instagram ads, as well as in other types of social media marketing is a must.
And even though many believe that this marketing channel often gives unsatisfactory ROI, social media is driving more sales than ever. You can rest assured that your rivals are present on social media, taking advantage of the fact that you are not there. Luckily, there are tools that enable you to monitor competitors’ social media and borrow their strategy if it works.
Use video marketing
When you want to buy a product, you probably want to see it first, correct? Well, that is the case with your potential customers as well.
However, high-quality images, great product descriptions, and even product reviews are sometimes just not enough to get someone to add a product to the cart. And this is where an engaging video might come in handy.
A number of e-commerce companies record sales-oriented videos because they realize the great potential of video marketing. It is estimated that by 2021 videos will make up to 80% of all internet traffic. With that figure in mind, it is not difficult to realize why YouTube is getting more and more popular with every single day.
With effective videos, you can show:
- how to use your products
- product features and performance
- customer reviews
But most of all, you can convince your customers to buy. That is why you need to be present on the platforms that are created for video sharing, such as YouTube. Most successful companies have their own channels with a huge base of subscribers. However, in order to acquire a lot of followers, you need to make sure everything is perfect, from your video scripts to your YouTube thumbnail templates.
Make partnerships with other companies
We have already mentioned affiliate programs. But a partnership with another company or ecommerce website may yield even better results for your business.
For a start, you should find a related ecommerce business and partner up with them. This is fairly easy and it goes a long way when it comes to spreading the word about your products. The more people know about your business, the more it will grow.
As an example, you could offer a discount to your partner’s customers when they come to buy your products from your partner’s website. Many retailers do this by providing a special code that is usually related to the name of the partner’s website. By entering that code when making a purchase, a customer gets a discount that usually ranges from 7% to 15%.
Therefore, your competitors don’t always have to be your rivals. If you work together and be smart about it, you can achieve much more in the long run.
Growing any kind of business is difficult. There are many aspects to this process and a lot of effort has to be invested before you start noticing tangible results.
However, as you can see, there are plenty of tips that can make this journey easier. You just need to come up with a strong, all-around strategy and put it in motion. That way, you will get more customers, greater conversion rates, and more revenue, all of which will make your business grow.