There are many levers you can pull to grow your ecommerce business. But not all have the same impact. If you read marketing blogs they’ll boast about how you can increase conversion rates by 62% from a single button change. The truth is, making small changes to your online store, like editing a button or testing a new headline, isn’t always the best way to grow your business. You need to focus on macro elements that make a big impact. But what macro elements?
Here are 5 elements that can have a much larger impact on ecommerce business growth.
1. The power of retargeting
Did you know that 96% of new visitors who come to your website are not ready to buy? One of the quickest ways to grow your ecommerce business is to retarget new visitors on Google or Facebook with an appropriate offer. An appropriate offer should be based on items viewed at your store.
Example: Here’s a Facebook retargeting advert from Travelstart South Africa who list flights from Johannesburg to various parts of the country:
This advert is only shown to someone who has visited a page or made a search with the starting location of Johannesburg on the Travelstart website. Retargeting with tailored offers, is an effective way of winning new customers.
2. Don’t go for the sell right away
The way we shop has changed. Depending on the product a customer can visit as many as 38 websites before placing an order.
With first time visitors needing more time, it’s not a good idea to sell to them right away. Your goal should be to build a relationship and ask for their email address, so you can send further content. For every $1 spent in email marketing, businesses on average make a $40 profit, the highest of any inbound marketing method:
Use exit-pops, side bars and embed forms asking your visitor for their email address, in exchange for a voucher to your store. Building a large active email list is the backbone of every successful ecommerce business. If you focus on grabbing visitor emails instead of pushing offers, you’ll grow your online business much faster.
3. Do you even Gumtree?
When you think of growing an ecommerce business, Facebook and Google are often the social marketing channels of choice.
Businesses are happy to spend thousands to compete on Facebook. Very few leverage the power of community based sites like Gumtree.
You can place listings for FREE and serve ads based on a consumer’s location. Not to mention, the Gumtree.com.au site alone, receives more than 50 million visitors per month.
Additionally, what makes Gumtree special is that unlike Facebook, where you interrupt a user’s newsfeed with your ads, consumers visit Gumtree to fill a need. This makes the average Gumtree user a warmer prospect than someone on Facebook or the Google Display Network. Are you using the Gumtree marketplace to grow your ecommerce business?
4. Take your online marketing seriously
Whether someone wants to order a pizza or are in the market for a new home, 81% of people start their research online. However, it doesn’t matter what you sell. If you aren’t taking your online marketing seriously and allocating time and money to online channels, you’ll have a hard time growing. This is because everyone is glued to their mobile phones and that is where you must base your brand. For smaller businesses with lower monthly budgets, sites like Gumtree are perfect because you can advertise products or services, without having to invest time or money to be found via Google Search.
5. Focus on the top of your funnel
The top of your funnel is content and marketing ideas that attract new prospects. A new prospect is someone who has never interacted with your business online before. To grow your ecommerce business, you’ll need a continual supply of new customers.
To get new customers, show your brand to as many people as possible. Make this your number one priority and find channels that best align with your store. Ask yourself: Where do my customers hang out online?
What type of content do I need to show them to bring them on my website? How will I re-engage with them after they visit my website? This isn’t to say you should neglect existing customers – they also require attention and messaging, to ensure they become repeat customers. But if you have a bottleneck at the top your funnel, this will impact the flow of new traffic and hurt the growth of your ecommerce business.
Grow your ecommerce business by following this tip
Most of all, focus on the major items of your ecommerce business to push growth.
Instead of spending hours optimizing a single page on your site, find out how you can bring 500 people to your website each day or how you can turn visitors into customers. Each of the 5 tips listed above to grow your ecommerce business can be tested or implemented quickly. What are you waiting for?