E-commerce business owners need to focus on all 3 of these key areas
By Amirul Mokhtar · 28th March, 2017
A lot of E-commerce Entrepreneurs are very focused on just one side of their business and that side is usually on how to get more people to know about their business or how they can get more quality traffic at lower costs. It is great to specialize in that area but if you call yourself an E-commerce Entrepreneur, you need to focus on all sides of your business.
Investing in increasing your business visibility is essential to the success of your business. You wouldn’t want to build a business that no one knows about right? By keeping a steady stream of visitors coming to your website on a daily basis, the chances of your business remain successful is more likely. There are many ways or channels to gain visibility for your ecommerce business. You do not need to focus on all but you do need to know what possibilities are out there. One most apparent sign of visibility is showing up in search engines. Does your business or products show up on Google when someone searches for solutions that your business can solve? Try to read up more on SEO. Visibility isn’t just about how many times your business appears in front of people. It’s also about long term continuous connections with your consumer base through mediums like social media. You can also boost visibility through recommendations and testimonials. Word of mouth marketing is very powerful. Make sure you are delivering value.
All of those visibility and traffic means nothing if they do not convert. As a business owner, it is important that you know and monitor the conversion rate of your business. A conversion rate is simply what percentage of your visitors actually end up making a purchase. With that percentage, you can get an overview of your situation and also make decisions for the future of your business. What’s a good conversion rate? Well, it is hard to make a direct comparison with other businesses. You should just compare with your previous conversion rates. No matter how “good” your conversion rate is, you can always make improvements. By improving your conversion rate, your business will be more and more cost efficient. With the same amount of spending on acquiring a new customer, you can get even more customers. There are many ways to improve your conversion rate. Try looking into the whole shopper experience first. Is your website mobile-friendly? Can visitors navigate and find products easily? Are you providing convenient payment options? Improving these will require the help of web designers and developers. But if you are using an ecommerce solution like EasyStore to run your online business, you do not need to worry much. We have a team of developers continuously improving the platform so your customers have a better online shopping experience. Another thing you can look into is remarketing or retargeting. People will usually go through multiple stages before actually making a purchase. They would survey other businesses, read reviews, look for the best value and they might even forget about buying. You need to always remind those that have engaged with your business, that your business still exist and give them a reason to choose you instead of your competitors. Use channels such as email marketing and paid advertising to get them back to you.
Many Ecommerce Entrepreneurs are still not convinced on the value of a repeat customer and pour most of their resources on strategies that will bring in new customers but not get them back to purchase again. It’s more cost effective to get past customers to purchase again. This is because they already know about your business and have already established a certain degree of trust with your business so you do not need to spend as much on marketing to convince them to choose your business. Not only does it cost less but repeat customers are the ones that will help promote your business to others. And their words are much more powerful than yours. You want to focus on getting your customers to become advocates or raving fans to your business. This is definitely a leverage that can benefit you as an Ecommerce Entrepreneur. Talk about organic growth! Your customers will continue to buy from your business and they will even do the marketing for you without any cost. Focus on providing great experience to your customers and even potential customers. Create more WOW moments by going out of your way just to please them. This will capture their hearts and win them over for a long time. Keep building relationships with your customers. Not just to get them to buy from you even more, but also to learn or get feedbacks on how you can improve your business.Don’t forget to appreciate your loyal customers once in while. Send a surprise gift or hold special campaigns just for loyal customers. Also, build your brand advocates by sharing your vision and mission. Make it clear to your audience what your business is all about. There will be people that will buy into your story and will support your business no matter what.
Every area is important to the success of your ecommerce business. That is why Ecommerce Business Owners need to focus on all 3 and not just one side of the business. You may not be able to do everything on all sides but you need to have a plan in every area. What are your strategies to increase the visibility of your business, what are you doing that will improve conversions, and what are some WOW moments that your customers have experienced?
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