Do you want to grow your ecommerce business and expand it within the next 12 months?
If yes, then you’re in the right place.
Having an ecommerce marketing strategy is one of the pillars of success in this business. When we say strategy, we don’t just mean some fancy terminology to flaunt with your team. It’s not just a combination of cool buzz words.
What makes a good ecommerce marketing strategy?
Michael Porter, a business strategy expert, reasoned that the fundamental part of any strategy is “about making choices, trade-offs; it’s about deliberately choosing to be different.” This, though, combines a touch of paradox: Where “strategy” signifies a choice to be different, its cliché implies the opposite.
I have listed some of the strategies that work for our clients. In an ever-changing industry, nothing seems to last forever. It’s dynamic and seamless, yet there are practices that are perpetual.
Are you interested in discovering out the best proven and tested methods? Pay attention to the 12 tips below.
1. List down objectives, conversion, and sales goals.
What’s a better way to start any plan is to have objectives, right?
What are the objectives can you have in place?
- Target conversion rate of 50-60%
- 30,000 monthly visitors to the website
- Reach 10,000-15,000 monthly sales
- A 20-30% increase in Average Order Value
Once you have written down your objectives, it’s also necessary to develop a system for measuring any progress. You should have timelines and schedules for individual implementation and the evaluation process. For instance, if you have a goal of increasing your sales by 30% over a six-month period, you should schedule weekly or monthly “temp checks” to check your progress toward that goal. Doing so gives you the edge in knowing the exact performance of your business.
2. Have robust content marketing.
If you’re new to do this, content marketing is about having content on the Internet such as social media, videos, infographics, GIFs, images, and blog posts that your target audience is going to consume. It also draws your market to know more about your brand.
It’s like playing the long game. Instead of selling right away, you are giving out content to spark curiosity and interest. You are warming them up before asking them to open their wallets. Sound tedious? Well, it is and it isn’t.
There are tactics that work for others, but can be harmful to your goals. In order to have an effective content marketing plan, you should understand the interests of your audience. Check Google Analytics to determine the demographics of your visitors. If you have an existing Facebook page, check Audience Insights to know who your current fans are. That way you are not shooting in the dark regarding what kind of content to put out there.
3. Email marketing is never dead.
You may have heard people saying that email marketing is a thing of the past. Well, they are sorely missing out. In the past few months, popular platforms like Facebook and Instagram have experienced massive outages worldwide.
So if all of the social media platforms go down tomorrow, how will you reach out to your customers?
Through email! You can automate your opt-ins and write a series of emails to warm up cold leads. The beauty of email marketing is that you can segment your customer details. From cold, warm, and hot leads, you can craft specific, personable content rather than be generic.
In 2017, there were 3.7 billion email users worldwide. This value is set to increase to 4.3 billion users in 2022. Aside from that, for every dollar you spend on emails marketing, you can expect an average return of $32.
There are heaps of email marketing benefits, but this one tops the charts for keeping your business steady and thriving. Not bad right? If you’re still not using email marketing, it’s time to take the leap.
4. Use chatbots to sell on social media.
I have helped clients create messenger chatbots fast and easy. It’s a new technology that’s currently disrupting the ecommerce industry in the best way possible.
Messenger chatbots have an incredible 80% open rate. Imagine 80% of your audience opening your single broadcast? What if they purchase something after seeing your offer? It’s an extra revenue stream for your business. It’s both easy and cost effective.
5. Invest in social media advertising.
Facebook, Instagram, Twitter, LinkedIn ads, and many more platforms are now dominating the digital marketing space. According to Adweek, TV ad spending will have a 2.2% decline to $70.83 billion in 2019. The study also shows that digital ad spend will hit $129.34 billion in 2019, while traditional media buys will make $109.48 billion, with total online media buys generating $172.29 billion in revenue by 2021.
In addition, Facebook and Google’s control over the US online ad market is slipping for the first time (even as their revenue continues to grow) as Amazon moves to join ranks on their hegemony.
In a forecast made by Adweek, Google’s share of online ad spending in the US will drop to 37.2% in 2019 from 38.2% 12 months earlier. Meanwhile, Facebook’s share of the market will increase slightly to 22.1% in 2019. It was also noted the majority of that growth will be driven by Instagram–a byproduct of the privacy challenges it faced over 2018.
6. Retargeting Ads
How does retargeting work?
You put a small, unobtrusive piece of code on your website, also called a “pixel”. The code, or pixel, is unnoticeable to your site’s visitors and won’t affect your site’s performance. Every time a new visitor comes to your website, the code drops an anonymous browser cookie. The code will let your retargeting provider such as Facebook or Google Ads know when to serve ads, ensuring that your ads are served only to people who have previously visited your site.
Retargeting is a powerful branding and conversion optimization tool, but it works best if it’s part of a larger digital strategy.
7. Minimize your Cart Abandon Rate.
If your business is three to six months old, you can have two-quarters’ worth of data to understand and determine your cart abandon rate.
What makes your customer unable to proceed to the checkout?
There could be multiple reasons such as:
- Guest checkout not available
- Too many distractions
- Your site is not optimized for mobile
- Sign up process is too complicated
- Your website is not secure
Once you have figured out the main reason for the high cart abandon rate, you can customize a plan to mitigate and optimize it.
8. Search Engine Optimization
Make sure your website keywords rank on Google. In 2017, Google accounted for over 79% of all worldwide desktop search traffic. If they can’t find your products on Google, then you are missing out on a lot of organic reach.
Focus on the quality of your pages rather than the quantity. According to Hubspot, 61% of marketers say improving SEO and growing their organic presence is their top inbound marketing priority.
Develop your on-page and off-page SEO using SEMRush, Google Search Console, Google Tag Manager, and Google Analytics to rank on certain keywords.
9. Add Customer reviews.
Give your product pages more authority by letting your customers leave reviews. However, you should have a review aggregation plan to filter out bad ones. You can create email automation or chatbot sequences for customers who recently purchase something from you.
Ask them if they are happy with their purchase and show them where they can leave their reviews. If they aren’t happy, make sure to get to them first before they post negatively about you on social media.
10. Track your main lead channels.
What channels bring the most traffic?
Are you spending too much money on Facebook ads but not generating enough leads?
Are you spending less money on organic SEO, but it’s giving better returns?
Knowing which channel gives better ROI gives you a chance to tailor-fit your strategy. You can allocate more time and resources to the channel that gives you the best return.
11. Make your website easy to use.
Every online transaction these days is about convenience. If your website has poor navigation and is not responsive to mobile devices, you’re doomed.
85% of adults believe that a company’s website, when viewed on a mobile device, should be as good or better than its desktop counterpart.
On March 26th, 2018, Google officially announced that they would be using mobile first indexing. This means that they are going to be indexing websites based on their mobile version- not their desktop version (as was done in the past).
This update has come at a time when mobile searches are becoming the majority and desktop searches are becoming the minority.
12. Establish Main KPIs
The first 12 months of your business will feel a lot like a trial and error; chances are you are still learning the ropes by this stage. But this will also allow you to learn and grow tremendously as an entrepreneur. You will learn all the ins and outs and you’ll have a better perspective on your performance.
With that being said, you have to study your numbers and start establishing your main key performance indicators.
It could be the following:
- Conversion Rates
- Average Order Value
- Cart Abandon Rate
- Monthly Sales
- Organic and Paid Traffic
Your KPIs are the numbers that will make your business profitable. Documenting and establishing these numbers will help you run your ecommerce business more successfully.
Strategies can be overused or misused. Sometimes it’s not a one-size-fits-all situation. Even so, there are strategies that have been confirmed to work by many ecommerce businesses.
Simply work through the list of strategies I’ve recommended, decide on the one best for you, and test it out.