Operating an ecommerce business can be highly rewarding with great potential for success as so much shopping is carried out online. It can also be challenging to grow an ecommerce business because it is such a competitive industry which means that often an ecommerce store will plateau after finding initial success. If you find yourself in this situation, then it can be difficult to know what to do, but fortunately, there are a few solutions which can help. Try a few of the following, and it could transform your online shop and allow you to compete with the much larger ecommerce stores. Here are a few tips:
- Add To Your Product Range
The key to success in the highly competitive ecommerce industry is selling the right products. It is always wise to know what products are currently trending and expected to grow over the coming months and years so that you can be in-demand. It is always helpful to add relevant products to your range, but a few current trending goods include:
- Smartphone accessories
- Maternity wear
- Novelty socks
- Gym clothing
- Healthy snacks
- Alternative medicines
- Beauty products
Leading on from this, upselling is a smart way to boost your sales and retain customers. This is the practice of persuading a customer to make an additional purchase and is much easier if you have products which are relevant to one another. If you run a health and fitness ecommerce store, for example, then you could encourage customers to purchase protein powder when they buy gym clothing.
- Make Sure Your Store Is Mobile-Friendly
Today’s consumer relies on their smartphones and tablets heavily, including for online shopping. Nobody will shop on their device is the online store does not load properly or is hard to navigate so make sure that it is mobile-friendly to boost sales.
- Use Social Media
Social media can be a fantastic way to grow an ecommerce store. Ecommerce stores should use social media to demonstrate their expertise in their industry by sharing relevant, interesting and engaging content to their target customer. They should also advertise products, run promotions, and contests and engage with their target audience to boost brand awareness and reputation.
Following on from this, contests are an excellent way to attract people to your online store. Like and share contests on social media will open you up to your existing followers’ network which could increase brand awareness exponentially. The cost of the contest should easily be recouped in the increase in sales achieved through more people visiting your online store.
- Digital Marketing
Digital marketing is also an effective tool for increasing brand awareness and reputation. Consumers turn to search engines when they need any kind of product, so it is key that you appear as close to the top of search engine results lists as possible. This can be achieved through the help of a reputable digital marketing agency who can use SEO, but it is also important to note that you should avoid making major changes to your website as this can actually have a detrimental effect – this has been dubbed poking the “Google Bear” and refers to forcing the search engine to reprocess your entire website with a recalculated PageRank for each page.
- Customer Referral Programs
The key to growth is being able to retain your existing customers while acquiring new ones. This can be a huge challenge, particularly when you are a new store as consumers will tend to be more loyal provided that there is clear value for money. An excellent way to attract new customers while rewarding existing ones is through a customer referral program as this can kill two birds with one stone.
- Improve Customer Service
It is impossible to retain and attract customers if you do not provide excellent customer service. Even in an online environment, people like to feel important and valued which means that customer satisfaction is a priority. This means that the shopping experience needs to be smooth, delivery fast and affordable and any queries or complaints resolved swiftly and professionally. Thank you notes, follow up emails and mentions on social media can also enhance the customer experience and help you to stand out in a competitive arena.
Growing an ecommerce business is challenging because it can be so competitive online. These are a few strategies to try, and when a few are combined together, it could transform your online store and help you to compete with the much larger brands in your industry and maximize your profits.