How to Accelerate the Growth of Your eCommerce Business
Successful businesses never stop evolving, and if you have an eCommerce business, you should follow this practice. The number of companies moving online has constantly been growing in the last years, and with the pandemic, the trend has accelerated.
But, without the proper strategy, standing out is now more difficult than ever. In this article, we’ll give you tips to accelerate the growth of your eCommerce business.
Get Professional Advice
If you read the experiences of many companies, for instance, the Growthink reviews page, it’s clear that the most successful businesses ask for outside help when developing a business growth plan. Even with a great and potentially profitable idea, opening, running, and growing any business can be complicated endeavors.
One thing that can mark the difference between eCommerce businesses that succeed and those that disappear rapidly is their business strategy. Hiring professionals specialized in helping companies to develop their business and growth plans, marketing strategies, raise capital, conduct market research, etc., can significantly increase your chances of success.
A good consulting company should feel like an integral part of your team, saving you time to focus on your expertise or other areas of the business and improving key requirements for growth, such as abandoning practices that result in losses and finding better solutions and new opportunities for growth, learn from mistakes and avoiding common mistakes, develop an efficient workflow, customer retention, customer satisfaction, etc.
Use Digital eCommerce Technologies
A good, easy-to-navigate website that prioritizes the customer experience is crucial for any eCommerce business. However, with so many eCommerce platforms, it can be difficult to pick the right solution, one that fits the size of your company and gives your users an awesome experience.
Buying online has become common for people worldwide, customers have an endless number of choices for online shopping. Without an online shop that is aesthetically pleasing, useful, and informative, it’s really hard to succeed in the world of eCommerce. This is why the platform you choose is so important and why, if you are trying to grow your business, you may benefit from moving to a different platform.
Aside from the website builder and the specialized software that enables orders and payments from customers, some eCommerce platforms may also offer other types of useful features and services, including customizable website designs, SEO tools, hosting, etc.
The size of your eCommerce business, as well as the products you offer, can help you choose a suitable eCommerce software for your business needs. You’ll want to select a solution that is secure, flexible, reliable, and scalable, so it meets your needs as your business grows. In addition, you should also consider ease of use, hosting, automatization of day-to-day tasks options, and other factors that can influence your success as well.
Include Social Media in Your Marketing Strategy
Millions of people across the globe use social media every day. These platforms offer unique opportunities for advertising your business. You can use them to reach potential customers through social media ad campaigns and by providing informative, engaging, and interesting content. Paid ads allow you to reach your ideal customers, while good profiles will help you keep people interested.
Social commerce features are emerging across several platforms, creating new opportunities for brands big and small to buy and sell goods or services directly within a social media platform. This model moves social media beyond its traditional role in the discovery process by encouraging users to complete the entire purchase process without leaving their preferred apps. Social commerce is an $89.4 billion market right now. It is projected to grow to $604.5 billion in the next seven years.
Moreover, social media presence today influences how potential customers perceive you. It allows you a unique and more intimate way of communicating with your past and future customers. This, in turn, marks you as a trustworthy business that puts customers’ needs and satisfaction at the center of their focus.
Make Buying Easy
Consumers frequently complain that some companies complicate the buying experience. This is one of the main reasons for the high rates of abandoned carts. You simply can’t expect the growth of your eCommerce business if this is true. To facilitate the buying process, as well as help increase sales, you should offer simple and fast ways to finalize a purchase. In addition, be transparent about all costs, make navigation between the shopping cart and the store effortless, and offer a variety of payment options.
Efficiency and speed are crucial for eCommerce businesses. Some businesses allow their buyers and website visitors to use a guest checkout option or their Google or Facebook accounts to sign in, instead of asking them to write the same info they’ve already put in so many different places.
Prioritize Customer Retention
It’s common practice for businesses to focus on acquiring new customers. And this is important, it’s also insufficient for a successful and profitable eCommerce business. A much more effective, even crucial business growth strategy is to learn how to retain your customers. Increasing customer retention has been shown to increase the companies profits considerably.
Satisfied customers are more likely to return, so creating a good customer experience is key. Building lasting relationships with your buyers is a great business growth strategy. There are several ways to accomplish this, including:
1. Staying in touch after purchase
2. Asking for feedback
4. Showing appreciation for repeat customers.
Conclusion
The digital era gives commerce endless new opportunities, but building an eCommerce business can be a challenge for anyone, and even for people who know how to develop a business. This is why you need to develop a strategy to always improve efficiency and customer experience, as well as and find new growth opportunities.
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In his spare time, he plays guitar, produces electronic music, does yoga, learns how to ski, and (with more or less success) tries to get in touch with his inner child.
Filed under: Marketing Library, Online Marketing