How to Grow your E-commerce Business the Right Way?by Emma L. Business consultant
While a lot of businessmen associate the word growth with something positive, an out of hand growth can sometimes backfire horribly, leaving your company in shambles. You see, in order to be beneficial for your brand in the long-run, any growth needs to be controlled every step of the way and e-commerce is no exception. With this in mind, here are a couple of tips that might help you grow your e-commerce business organically and ensure that it is always on the path towards your long-term goals.
An industry giant John Wannamaker said that while he knows that half the money he spends on marketing gets wasted, he can never know which half. Well, with affiliate marketing this is definitely not the case, seeing as how you can easily track the origin of every single visit to your e-store to its source. In turn, this ensures that you know exactly which outreach channels are the most effective. Furthermore, due to the fact that all your affiliates are on a performance pay, you can rest assured that you aren’t financing any slackers or pouring your resources into the low-ROI projects.
Focus on your most popular products
While you may have many great items in your e-store, in order to draw in first-time customers, you need to learn how to play around your strengths. This means assigning the majority of your resources towards promoting your most popular products. Ironically, this short-term approach is also quite efficient as a long-term growth strategy, due to the fact that it sets your customers on the first step towards becoming regulars. For instance, a person who buys from you once has a 27 percent chance of returning. All you need to do is give them a strong enough reason to make this first purchase.
Improve your infrastructure
Another thing you need to handle as early as possible is your infrastructure. Running out of stock is not something you want to see happen, seeing as how in the age of e-commerce, your customers are more likely to go to your competitor’s e-store than wait a couple of days for you to restock. Now, one of the most common reasons for this logistical mishap is the delay at the customs. In order to avoid this becoming a serious problem, you need to get in touch with a local customs agent. For instance, if your goods are arriving into the Sydney from abroad, you need to reach out to reliable customs agent in Sydney and have their number on speed dial.
Find a new customer base
Finally, there is only so much of your current customer base that you can exploit. Not everyone is destined to become a customer, which is why you need to open up to a new target demographic, once it starts looking as if your current target audience is all tapped out. This, of course, doesn’t mean that you should completely shift your focus, only that you might want to start diversifying your products and services in order to become more appealing to a new group. Keep in mind, however, that sometimes pushing too far in this field might drive away some of your regulars, which usually makes this brand re-vamp not worth it.
At the end of the day, growing your e-commerce business the right way isn’t nearly as simple as it may appear at first. If your business is currently experiencing some logistical or marketing-based difficulties, once your business increases its workload you will face a proper disaster. Because of this, there are certain issues that need to be handled in your company’s infancy in order not to backfire later on. Needless to say, when it comes to this the above-listed four points may serve as a great starting point.
Created on Jan 8th 2018 05:43. Viewed 235 times.