The growth of eCommerce business is not going to slow down; thanks to smartphones pushing people to buy more and more goods online.
According to the global trends, the eCommerce sales registered at 10.5% in 2016, 12.3% in 2017 and 14.4% in 2018. Online revenues are rising each year, and it is likely to rise by 5% by the end of 2019 as per prognostications.
There is a clear indication that online business has a bright future. The number of consumers who have shifted from brick-and-mortar to eCommerce stores to buy goods and services has increased by 5% in the span of the last five years. Ecommerce business has changed the way of shopping.
With the rise in online shopping, many entrepreneurs are looking forward to eCommerce business stores, leaving brick-and-mortar stores behind.
However, you need to create a powerful strategy to stand out in the cutthroat competition. It requires new tools from understanding the dynamic behavior of your target audience to implementing marketing strategies to convert prospects into sales.
Here are the BEST WAYS to grow your eCommerce business.
Focus on your Sales Funnel
A sales funnel is paramount for any business to convert prospects into sales. It shows the journey of customers until they buy your product or service. It includes the following phases:
- Awareness phase: A consumer will become aware of the existing solution.
- Interest phase: Consumers may show interest in your product or service.
- Evaluation phase: They will compare your offering with other competitors.
- Decision phase: They will try to negotiate.
- Purchase phase: They will finally buy your product or service.
In other words, you can say that a sale funnel is a process that begins from attracting your users and ends with delighting them. Here is how you can optimize your sales funnel:
- Use of different marketing channels – It leads to greater audience visibility which means more likelihood of higher sales.
- Analyze your marketing campaigns – Evaluate the traffic to your website, which page they stay at longer, and try to understand how your campaigns are contributing to your sales.
- Declare how you are different – Let your audience knows how they can benefit from your offerings. Use innovative ideas to provide them with something new and unique.
- Solve their queries – Listen to your prospects and solve their queries at once.
Never Stop Researching
Before you set off, you need to research to identify your target audience, a niche, competition level and the likelihood of sustainability of your business in the long run, but it does not mean that you will stop researching as you get it off the ground.
A successful business is one that provides a solution to its audience. If you stop researching – what your audience needs – how will you stay established in the long run?
- Keep tracking what your customers need.
- Evaluate which strategy your competitors are using to streak ahead.
Give Personalised Experience
Personalizing the customer experience is the best strategy to grow an online business. Top brands put customers first. The better the relationship you have with your customers, the more profitable your business will be. Here is how you can improve customer experience:
- Focus on the design of your website. Make sure that users can navigate from one page to another without hassle.
- Make it easier for them to shop for goods.
- Offer them discounts and combo deals on occasions.
- Ask them to create their profiles on your website. You will be able to track their habits, giving you an opportunity to understand what you should improve.
- Segment the list of email subscribers. Some of them will be interested in your brand, but they may not be buying your goods. Find out how you can persuade them to use your products and services.
- Segment your product ranges based on gender, age groups and locations. For instance, you can create different tabs such as men, women, senior citizens, etc on your website, so that everybody knows where they can find their things.
Grab Real Reviews
Most of the time, first-time buyers show interest in your brand, but they do not buy any product. A user would never like to invest in any product unless they are certain that they are going to benefit from it. They would like to know about the experience of people, and therefore they will try to read reviews on social media and your websites.
Reviews form a base to strengthen the decision of buying of new visitors. They will likely turn into sales more quickly if they get a chance to read real reviews. Most of the companies try to write fake reviews, but users are smarter than you.
- Persuade your customers to provide feedback on a product after using it by offering them free shipping on their next order.
- Offer them extra discounts and special schemes like “Buy 1 Get 1 Free” in exchange for feedback.
- Encourage your users to send in a review in a video format. This will build trust among your new users.
Harness the Power of a Mobile App
One-third of the traffic to e-commerce stores comes from mobiles. A tiny portable thing has gone viral making it easier for people to carry out multiple tasks from paying bills to buying goods. In addition to personalized offers and payment convenience, a mobile app can help you in an amazing way.
- You can launch an instructional video explaining everything about your product.
- It gives quick access to information like price, reviews, ratings, etc.
- The traffic to your website will hike.
Though you can opt for readymade e-commerce mobile apps flooding on the market, you should try to get a customized one. However, you need to be very careful with the selection of a mobile app development company. Reputed companies may seem to be a bit expensive, but they will serve you quality.
Implementing the aforementioned strategies can show a significant impact on your eCommerce business store. Follow SEO techniques, provide high-end products, set the right price, make information easily accessible, and provide a personalized experience. As long as you are mindful of your brand image, your business will keep going up.