The e-commerce industry is cutthroat and competitive. If your e-commerce business is hurting or struggling, there are seven things you can do to help ASAP. Practicing these strategies will help you both gain new customers and retain current customers for long-term revenue boosts.
Prioritize Data Analysis
The first thing to do is to reprioritize data analysis. Specifically, you should gather as much data as possible on your target audience members, such as their:
- Demographic information, like age, sex, location, etc.
- Needs and wants, particularly in relation to your industry
- Potential spending power or budget limitations
Once you have all this data, analyze it further so your marketers can draw up a holistic, comprehensive picture of your audience avatar or target consumer. This information is vital so you can market more effectively to your target audience and ensure that your customers form emotional connections to your brand.
Refocus on Marketing
Speaking of marketing, it may be a good idea to refocus on e-commerce marketing as well. E-commerce marketing is key to bringing enough people to your site or store so that you turn a profit.
But you don’t have to just pay for Google PPC ads. You can also refocus on marketing by:
- Creating social media marketing content (see more below)
- Optimizing your website for SEO, using specific keywords and the like
- Creating informative content on your website blog to boost brand authority and awareness
- Using emails crafted by an ecommerce email marketing agency to announce discounts or invite loyalty program participation
- And more
The more you market, the greater likelihood you’ll have enough people coming to your site to boost revenue across the board.
Rework Your Brand Image
If your brand has been around for a while and it doesn’t have a loyal customer base, you can change that by reworking your brand image. Update your website, for example, or come up with a new, refined, and sleek logo that better fits your marketing materials or products.
Similarly, come up with a new slogan to go with the logo and send out a new brand voice package to all your marketers, like your chosen ecommerce email marketing agency. That way, your brand will come across as a unified organization that has the power to stick in the minds of its target consumers.
Test Pages and Ads for Conversion
You can further use A/B testing both for e-commerce website pages and for online advertisements. A/B testing has you put out two very similar versions of a webpage or advertisement. Then you compare the results of those similar versions.
Once you know which performs better (in terms of conversions, visits, etc.), you can update all of your advertisements or web pages to follow the outline or aesthetic of the higher-performing variant. A/B testing is a great way to continually optimize your website and your marketing materials for long-term success, especially in a crowded market environment.
Build Email Lists
Email lists are invaluable marketing tools when leveraged by a skilled ecommerce email marketing agency. They allow you to send consistent messages to both potential and current customers, offering discounts, reminding customers about abandoned carts, and much more.
You can build up email lists by hosting a loyalty program for your brand or by requiring an email address to make a purchase on your e-commerce store. Just keep in mind that you shouldn’t make the sign-up requirements too rigid – otherwise, you may drive people away from your brand rather than bring them to it!
Market on Social Media
Social media marketing is a major part of modern business success. You can’t afford to ignore this vital aspect of online marketing. To that end, be sure to create social media profiles on platforms like Facebook and Instagram. Then post regular content such as:
- Candid videos from your office or manufacturing plant
- Video testimonials of current customers
- Special offers linking to products or services on your website
- Links to blog posts and informative marketing content
- And more
Use social media marketing both to bolster your brand overall and to answer customer complaints or requests. Social media pages are perfect places to interact with and build relationships with your consumers in organic ways.
Partner with an Influencer
Alternatively, you can consider partnering with an influencer on a platform like Instagram. Influencer marketing is a great way to bring people to your e-commerce business. However, make sure to only partner with an influencer:
- Who fits with your brand’s aesthetic or style
- Who is willing to work with your brand’s voice
- Who is a good representative for your brand based on their follower count/follower demographics
Influencer marketing is key if you want to scale and grow your business, as these digital marketing experts can use their platforms to bring new customers to your online store in no time.
Ultimately, practicing these strategies could go a long way toward helping your e-commerce business not just survive but thrive in the modern market. Good luck!