Being the CEO of multiple companies, there is one question that I get asked multiple times – How to grow an eCommerce business Strategy ?
So I thought of putting this article together and providing you with quick-fire simple strategies that will help scale up your eCommerce business.
Let’s jump directly into the article.
Top strategies for eCommerce business strategy
With decades of experience, I can say that these strategies will be helpful for you in building up your business.
Invest in SEO
SEO investment is vital if you intend to expand your eCommerce business. Research indicates that almost 96.55% of web pages receive no Google organic traffic, implying that the majority of companies are unable to differentiate themselves.
With stiff competition in the online world, search engine ranking is an important aspect of any eCommerce business strategy. Individuals typically click on top results in search engine result pages (SERPs), and studies show that 54.5% of total clicks are to the top three Google search results. Therefore, search engine optimization of your site can generate more traffic and increase sales.
Use AI to Improve Customer Interaction
Running an eCommerce company doesn’t leave much time for direct customer interaction, as opposed to a physical store where you can personally help shoppers. This lack of interaction can impact the user experience on your site.
So, how do you enhance it?
A smart eCommerce business strategy is to leverage AI tools that mimic real-time conversations. Virtual assistants and AI-driven chatbots can respond to queries, make recommendations, and navigate customers. This is similar to an in-store experience. With the power of AI, you can improve customer interaction and learn how to develop your eCommerce business effectively.
Influencer partnership
Partnering with influencers is a powerful eCommerce business strategy that can boost brand awareness and increase conversions. Influencers have a loyal audience, and their recommendations often feel more trustworthy than traditional ads.
Every influencer has a specific audience, so collaborating with those who align with your target market helps you reach potential customers more effectively. When people see a well-known figure using and endorsing a product, it builds trust and encourages them to make a purchase. By using influencer marketing wisely, you can learn how to grow your eCommerce business and drive more sales.
Focus on personalization
A key eCommerce business strategy is offering personalized recommendations that match customer interests. When shoppers see products tailored to their preferences, their experience becomes more engaging, leading to longer browsing sessions and higher conversion rates.
Satisfied customers are more likely to return, as they appreciate an online store that understands their needs. By using data-driven recommendations, you can enhance customer loyalty and learn how to grow your eCommerce business effectively.
Focus on building online reputation
Did you know that 90.6% of customers read reviews prior to an online purchase? Humans tend to believe others more than any other form of messaging, and peer influence is a massive part of purchasing decisions.
Whereas peer influence tends to be viewed negatively, it actually can be used in your favor when you carry excellent products. Your positive reviews, testimonials, and customer ratings create trust and inspire new customers to shop with confidence.
A great eCommerce business strategy is to display customer feedback and testimonials because if people like your products, the world needs to hear about them! This is an easy but mighty way to expand your eCommerce business and boost sales.
Using live chat for instant resolutions
We’ve already discussed how AI can help grow your eCommerce business by providing virtual assistance. But beyond chatbots, offering live chat and text message support can further enhance customer service by providing real-time help.
If customers encounter a problem while shopping and are unable to receive instant help, they might leave their cart behind. Through live chat and text support, you can easily address their concerns, respond to their questions, and nudge them toward making a purchase.
Make your social media presence felt
With more than 5.04 billion individuals on social media, incorporating it into your eCommerce business plan is imperative. Social media assists in building brand awareness, customer engagement, and sales.
Facebook, with more than 3 billion users, is still the most used, followed by YouTube, Instagram, WhatsApp, and TikTok. You can either have a presence on all the popular platforms or choose the ones that suit your target audience the most.
Email marketing is not outdated
Did you know that the global email marketing industry will be worth $17.9 billion by 2027?
That’s because email marketing is a significant driver of purchasing decisions and is a central eCommerce business strategy for generating sales.
A well-organized email campaign enables you to send valuable content, product updates, articles, videos, and newsletters that drive more traffic to your site. With it, you can promote promotions, confirm orders, and engage customers.
Email marketing is not only budget-friendly but also an awesome means to expand your eCommerce venture. Providing a first-order discount to a client in return for subscribing to your emails can be an intelligent strategy to motivate conversions.
Focus on retargeting campaigns
Retargeting campaigns are an intelligent eCommerce business tactic that targets interested customers who haven’t purchased your products.
The concept is simple. When repeatedly exposed to your ads, your brand remains on their minds. The more they get to know it, the greater the probability they’ll visit your site and make a purchase.
By showing ads to the particular products that a visitor once looked at, retargeting personalizes and enhances marketing. Continually connecting with possible and previous clients by means of retargeting campaigns is a proven method for increasing your eCommerce venture and inspiring repeat purchases.
Create short-form videos
Based on HubSpot’s study, short-form video yields the greatest ROI among all content types. Effective brands realize that grabbing people’s attention within seconds is paramount, and interesting videos are effective in doing that.
Short-form videos offer an instant and interesting means of introducing products, communicating their advantages, and illustrating how they function. And the best part is that all of these information is conveyed within a few seconds. This facilitates for potential consumers to comprehend why they require your product.
Adding short-form videos to your eCommerce business strategy is an excellent strategy to enhance engagement, drive conversions, and effectively expand your eCommerce business.
Provide subscription services
Including a subscription service in your eCommerce business model can be a game-changer. Not only does it guarantee a consistent monthly or annual revenue stream, but it also assists in financial planning by offering a predictable flow of income.
In addition to the financial rewards, subscriptions foster customer loyalty by keeping purchasers interested in your brand. Yet, it is essential to refresh things periodically.
Customers may become bored if they don’t perceive ongoing value. Periodically releasing new offers, special content, or customized promotions can keep them subscribed and enable your eCommerce company to expand.
Attracting customers with loyalty programs
Customer loyalty programs are a cornerstone of customer retention and sustainable business success. It is estimated by Gartner that companies with no loyalty program in place today will have them installed by 2027 to gather first-party data and maintain their most profitable customers.
By incentivizing customers for their repeat buying and brand loyalty, you make them return. Because customer acquisition tends to be costlier than customer retention, spending on loyalty programs can be a profitable strategy for enhancing profitability.
Although customer acquisition is crucial, a well-planned loyalty program can support your eCommerce business strategy and drive your eCommerce business growth in a sustainable manner.
Conclusion
The above strategies will be useful when you are focused on building your eCommerce business with dedication and perseverance. The road to success is not the same for everyone, and you will have to continuously change your approach and strategies accordingly.
If there is any strategy, you think worked better for you, share about that in the comments.
