Have you spent hours creating an online store, only to not get the sales you want? Consider if you have an e-commerce strategy framework to help you market your business and grow your revenue.
If you don't have a strategy, you might be doing things that will hurt your business. Instead of trying anything you can think of, start building an eCommerce strategy to move your business forward.
Keep reading to learn more.
How to Drive Targeted Traffic
One of the most important elements of the framework for your e commerce business is to get traffic. But you need to focus on getting the right traffic to your online store.
Fortunately, you can attract traffic without having to pay much or at all.
There are tons of strategies that you can use for your company too attract more and more companies.
Choose a Niche
Successful e-commerce strategies are those that involve a niche or some other business specialization. You can't solve every problem for every person, and a niche can help you target who you help and how. This is a crucial step in business planning, especially for an e commerce business.
When you have a niche, you will be able to learn more about your customer base. Then, you can develop your e-commerce strategy to make attracting those customers easier, so you can increase conversions and sales.
Create for Your Ideal Customer
Once you decide on a niche, you can figure out the profile for your ideal customer. The profile can cover the customer's average age, location, gender, occupation, and interests. Identifying your target customers allows you to get a better idea of what they need.
Knowing what your ideal customer needs and wants will help you create products that suit those needs. Having the products your customers need will make building an eCommerce strategy much easier and more successful.
Understanding your target market is essential to refining the products you offer and formulating a successful business strategy.
Is your target market users of social media? Are they college graduates? Think about your average consumers and how they live their daily life.
It can help you identify trends in consumption habits of potential customers, which will allow for adjustments on product portfolios that meet future needs. The geographic location, demographics, behavioral aspects are all important factors when determining who should be considered as part of this group.
One of the most important aspects to constructing a marketing funnel is having well-defined and narrow target markets, so that you can create an awesome campaign for those individuals who will be genuinely interested in your products because they are trailer made just for them.
Make It Easy
You also need to make it easy for your customers to find your business and go to your website. When designing your site, it should be easy to use on both desktops and mobile displays. This makes for easier sales.
If your website is hard to find and use, your customers may not want to go through the hassle of shopping and buying. Improving the user experience is a great way to get and keep traffic and convert visitors into customers.
Market Your Business
Whether you use an eCommerce strategy template or not, you need to have a plan for marketing and promoting your business. You could have the best products in the world, but that won't matter if people don't know your store exists. Retailers need to stand out, especially in the digital world.
Consider where your target customer spends time online, and promote your store in those places. Bussinesses that know where their consumers spend time give them a huge advantage over their competitors.
Use your Business Plan
Having an established business plan is extremely useful when you are crafting your marketing strategy.
A business plan includes the plan for operation for your organization along with your mission statement, and an executive summary for your leaders. A good mission statement is also a fantastic way to build up your brand image and let your customers know what you are all about.
It also includes supply chain information, shipping processes, and sales strategies.
Have an established supply chain
An ecommerce supply chain strategy is uniquely important because unlike brick and mortar, the delivery of product to your customers' doorsteps is their only experience with your brand.
In a physical world we have consolidated all our experiences at a physical location like store with unique layouts and aesthetics as well as employees; this makes delivering customer service over digital mediums so much more difficult than it used to be - but not impossible!
A good ecommerce business has a structured plan and sturdy supply chain - it's a must for any organization in the e commerce industry. Your supply chain is the backbone behind your product, and it needs to be strong.
How to Increase Conversions for an E Commerce Business
As you start using an e-commerce strategy PDF or template, you need to consider how successful your strategy is. Consider if the ways you're marketing your store is resulting in traffic or sales. This is the defintion of a successful marketing strategy for most businesses.
If you aren't getting the conversions you want, you can change your online commerce strategy framework. But you shouldn't just try any old strategy. Here are a few things to focus on when increasing conversions:
Review Your Analytics
The first thing you should do when you want to get more conversions is to look at how your website is doing. Take a look at your analytics and see if certain pages are performing much better than others. Perhaps a few product categories are performing better than others.
Do a full audit of your e-commerce site and act as if you're a customer. Consider how easy it is to use the site and if you would want to buy something. Then, you can use the results to inform your next steps. Make sure to make these decisions with the customers view in mind.
Keep It Simple
One great way to increase conversions is to simplify things. When you sell products, you may want to offer the largest selection you can, but that leads to a few problems.
Not only do you have to manage more inventory, but you could overwhelm your customers. Sometimes, it's better to offer fewer, excellent quality options. That way, people won't have to make as many decisions, so they can buy from you more easily. You need to make your value proposition clear and let visitors know what your product offers.
Use Multiple Payment Gateways
While you don't want to have too many products, you can also help increase conversions by adding more payment options. If your only option is to use a credit card, you could lose out on customers who love using PayPal.
Try to have at least a few payment gateways to make paying more convenient. Then, people won't have to take the time to find their card and input the information. That way, you can make more sales quickly.
Ask for Action
Sometimes, all you need to do to get more conversions is to ask. If people don't know about a new product or offer, you have to tell them about it and how to get it.
Use a call to action (CTA) on your website pages and blog posts, if you have a blog. Make your CTAs relate to your e-commerce store and provide an easy link for people to click. The easier it is to buy, the more sales you can get. It's a direct way to market to your visitors and has surprisingly good conversion rates.
Make Navigation Clear
Not everyone who visits your website will see a specific CTA. But they will probably see and use the navigation bar at the top of your site. You can use your navigation bar to highlight your store for everyone. Retail e commerce sales heavily depend on a clear path to product pages and a good navigation is the best way to do that.
Try to keep the navigation bar clean and only include a few pages, such as your shop page, about page, and contact page.
Reduce the Number of Steps
Another great way to increase conversions is to make checking out quick and easy. If you get a lot of people adding stuff to their cart without buying anything, your check-out process may be too difficult.
Add something that allows people to find their cart. While you do need to collect some information at check-out, keep it all to one page. Then, you can keep people from getting impatient and abandoning their cart.
How Organic Growth Can Help Increase Revenue
When looking at successful e commerce strategies, you may notice they involve many parts. Some business owners focus on paid ads, others only use organic content, and others may combine the two.
Using organic content can help you grow your business and increase revenue for only your time. If you don't have a huge advertising budget, organic growth is essential to getting more sales. Consider a couple of ways it can help your business.
Organic Traffic and SEO
SEO is a strategy that can actually bring you more traffic and new customers if done correctly, but it's important to know how.
You need to research keywords and create properly optimized content on your website to rank those pages in search engines like Google.
Looking at your competitors is a good place to start. You can use tools like ahrefs or SEMrush to getter a better vision for your organic search strategy and trends in your industry. If you have a set plan, SEO investment can lead too many sales.
Capture More Leads
As you organically grow your store, you can get more leads. Creating an email list is one of the best marketing strategies of e commerce because it gives you prime access to people who want to buy from you.
The amount of traffic you get can affect how many people join your list. So if you can get more traffic, you can get more leads without having to use ads or worry about your conversion rate.
Have a pop up on your site and offer a free guide or downloadable resource in return for their email address.
Save on Advertising Costs
Many online businesses will spend money on ads to attract customers, but that can get expensive. If you don't have an advertising budget or want to save money, organic growth is perfect. But a healthy mixture of both is strategic for most bussinesses.
You can create content that you post for the public to view. As long as your content relates to your store, you can use the content to promote your store or specific products. Then, you can still increase revenue while keeping costs low. Online retailers always post this content on social media, which can also help with brand awareness.
How to Use Paid Advertising
While organic growth is a crucial part of your eCommerce strategy 2020 and beyond, paid ads are also useful. You can pay for ad space on Amazon, Facebook, and Google to help reach more people.
However, your e-commerce strategy plan should include a plan to optimize those ads. Your company needs to have a plan to reach the most valuable customers.
If you want to advertise on Google or Amazon, you need to choose the right keywords. Your ads won't go on just any search result page, and they shouldn't.
Consumers are targeted based on their previous searches and interests, and you can use this to your advantage. Look at trends and create content around common issues that your consumers often face.
Make sure you choose keywords that are relevant to your business. For example, a cosmetics company may want to advertise on searches for beauty products. You can also use these keywords on your website to better connect the ad to the search results and make it look more natural. Ecommerce businesses depend on a good keyword research plan.
Set a Budget
When you set up a paid advertising campaign, you will need to set a budget. Consider how much you want to spend or can afford to spend per day. Also, think about how long you want to run the ads.
You should invest enough money to get some results, but you don't have to spend a ton. Look at your current business profit to get a sense of how much you might spend on ads. Planning is the most important part in order to get the best return from ad spend.
Target and Retarget
As you create your ad campaign, you will be able to target specific people based on their demographics. Go back to your ideal customer profile to help target people who will want to buy from you.
After your ads run for a while, you can also retarget people. Perhaps someone clicked on the ad but didn't buy your product, so you retarget that person to encourage them to buy. Most social media platforms allow you to easily do this.
When developing an e commerce strategy PDF or document for your business, consider how you can monetize your store.
Now, you don't want to have to balance too many income streams. However, consider a couple of ways you can expand your store as part of your eCommerce strategy.
Add New Products
If you only have a few products, you may get some sales. While you don't need to have hundreds of listings, you should have a decent selection to give your customers options to serve their needs. It is important to add a detailed description and product images so that your visitors are clear on what they are buying.
Try to add a new product regularly, such as once a month or every other week. Adding new products will make your store look full and professional, and you can use the new products to get repeat customers to make more money. It might be a good idea to take a look at common issues or trends in your niche to get ideas for new products.
Product photos and product information is extremely valuable for most customers when buying online. Most of your sales that comes from your website will rely on this information to chose your products over your competitors.
Detailed product categories are a great way to rank pages and get more organic traffic. Businesses should have a clear organization on their website so that visitors can find product easily and efficiently.
If you're willing to provide a service, consider adding that to your online store. Depending on the products you offer, you may be able to provide relevant services over the internet. This is a great way to boost sales for businesses.
For example, a cosmetic store could offer makeup tutorials or consultations. An online pet store could provide individual or group pet training sessions. This is one of the most popular ecommerce marketing strategies in recent years because of how profitable it can be for a company.
Understanding the Customer Cycle
All eCommerce implementation strategies should focus on the customer cycle and journey. Consider how you can get someone who has never heard of your business to become a lifelong customer. All of your marketing activities should be created with this in mind.
You can use the customer cycle to build and create content for your sales funnel. When a new sales lead first visits your online store, they can enter your funnel and move through the following steps.
Conversion rates are something to keep in mind when creating different funnels, keep in mind that each customer experience has multiple factors that lead them to the checkout page. This comes with knowing who your customers are.
Top of the Funnel
The top of your funnel (TOFU) is the awareness stage. At this point, a visitor may not have plans to buy a product from you, but they might shop around and learn more about you. Most internet users who have heard of your brand online can fall into the top of your funnel if you are an ecommerce business.
Building brand awareness is crucial to growing your e-commerce store. While many leads may not move past this point, it's the beginning of a cycle that will help you grow.
Establishing a good first impression lets you set the pace for the rest of the sales cycle. Acquisition of customers takes place in this stage.
Establishing awareness for your organization in the first step in your strategy when creating leads through your funnel. No one will buy from an ecommerce store if they have never heard of it
Middle of the Funnel
Next, you have the middle of the funnel (MOFU) or the consideration stage. Someone in this stage has heard about your business and has followed you on social media or visited your website.
This is also a great place for email list growth, you can offer advice and resources to get an email address from potential consumers. Your top competitors are already likely doing this, email is pivotal for an ecommerce marketing strategy.
Build brand awareness, get your name in consumers heads, and let them know that your company is out there. As mentioned, many consumers will follow on social media in this stage, use this to your advantage my showing off product and letting them know what your company is about.
Consumers in this part of the funnel might look at your products and see one or two that they want to buy. However, they still aren't ready to commit, and you may need to build trust with these people to get them to convert.
Bottom of the Funnel
The next step is the bottom of the funnel (BOFU), which is the decision stage. Now, you have a customer who knows your business and likes what you do. They're ready to buy something.
This is the bottom line, where you make your sales. You need to have detailed product descriptions and a clear value proposition to communicate that your product is the right decisions. Your product is superior to your competition and this is your chance to let the customer know.
This is the time where you get to sell, and you can see results from your e-commerce strategy framework. The customer experience is crucial from start to end, so make sure not to neglect this part of the funnel.
After someone buys a product, you can turn them into a loyal, repeat customer. Make sure you offer excellent customer service and are willing to help them troubleshoot any problems.
Then, you can sell your new products to these customers, and you won't have to work as hard to do it. Repeat sales will be one of biggest factors of growth for your company.
Data collection is a nice bonus after you make a succesful transaction to make it easier to have repeated sales. It also is a crucial element of retargeting your paid advertisements online. Marketing strategies can take an extra boost once you collect email addresses from visitors and your past customers.
Organization is key for keeping track of customers so it might be smart to invest in some email marketing software or a CRM.
Reviewing Your E-Commerce Strategy Framework
A framework for e-commerce strategy is crucial for any new or existing online store. Without one, you won't be able to get consistent sales and grow your business. Your ecommerce
Stop wasting time with your marketing strategy. There are many new and innovative strategies that will get you the best results, each working together to help reach all of your goals in a shorter period than ever before!
Give organic traffic, paid advertising or and other monetization tactics a try today for guaranteed success. A good company implements all of these into their plan.
Combining several different types of market strategies is what'll have the highest rate of growth within any industry these days - it's just how things work nowadays.
Having multiple sales channels to reach your customers is necessary in order to have a succesful marketing strategy. Retailers using digital ecommerce marketing strategies to reach their target market should be constantly making changes to offer the best experience possible.
Consider how you can develop an eCommerce strategy 2021 and future years can support. That way, you can turn your business from a part-time venture to your full-time gig.
Content marketing is becoming more and more valuable in the e commerce industry and is a great addition to any marketing plan.
Do you need help marketing your online store? View our services to learn how we can help and follow our blog for more advice.