Top eCommerce marketing strategies for struggling entrepreneurs
The digital competition is getting so fierce, that eCommerce entrepreneur needs to come up with sporadic ideas and propitious strategies to anchor a versatile market presence. The digitisation has gifted us numerous free and paid online store builders, a majority of them being robust, scalable and flexible making it a one shop pit stop to create an eCom store.
With technological advancements, now the challenge is not about creating an online store rather the availability led to a high competing marketplace where visibility leads to conversion. So, in this article, we will discuss few effective marketing strategies that come in handy during your eCommerce adventure.
#1) Up Sell your Product to Increase Purchases
David Moth, Editor and Head of Social at Econsultancy wrote an article, in which he mentioned the research conducted by predictiveintent which accentuate the importance of Upselling. Thes research says upselling is 20 times better than cross selling.
Once a person has shown interest in a particular product, try to display similar products with comparatively better features and an incremental hike in price. Most eCommerce websites make use of an intelligent matching algorithm to represent equivalent products that will entice the customer to raise his bar and shoot for better merchandise. One of the best strategy when trying to upsell is to place similar products with higher discounts and customer reviews, the psychological approach helps to stimulate interest/ curiosity among customers.
Once you feel that the upselling works initiate crossing selling. For eg: A person interested in buying a formal boot worth $60, will get enticed to see a similar product offered by a recognised brand (Worth $200 discount rate 60% and better reviews). Here the discounted rate for the branded boot is $80, the probability that the person buying a branded boot for a margin of $80 is much higher. Once he considers the product, try pitching wax/polish for the boot (cross-selling). Since there is a need to maintain the boot clean, the person may end up buying both.
#2) Content Marketing Strategy
Content has become one of the most effective and cost effective ways to drive your sales higher. Content is generated in different forms and varieties, and it is one of the most discussed areas (because of the volume at which data is produced every day). For this single reason itself there is an obvious question of what kind of content will work for you and how you differentiate yourself from others.
Addressing your first question, What kind of content we need to produce?
Always create high-quality content focused on adding value to the end user. For example know what your customers are looking for, educate them why they need to buy from you, Tell them how the product can add value to their day to day life. (For eg: you are selling T-shirts for a target demography in middle east, ask the question what textile material will be better for people working in that environment, why a tight fit may seem better than a loose fit (vice-versa), etc.)
Make use of user generated content (consider you are selling T-shirts, one of your customers bought a T-shirt from you and posted a tweet wearing the T-shirt, reach out to the customer provide a discount coupon which she can redeem on your website and ask her to continue doing it).
Coming to your second question, How to differentiate your content?
Be creative, think how your product will stand out from the crowd. In the case of T-shirts find what colours are better preferred in that condition, what designs and statements are banned or found offensive in the country, how can you incorporate a virtual trail store, etc.
#3) Parallel to your eCommerce Store, Create a Facebook store
Creating a Facebook store similar to your eCommerce store help to increase social selling. The store will give a better presence, and you will be able to showcase your products through this effective marketing channel. It is one best way to market your brand among friends and relatives, who intern can share of referring to their contacts.
#4) Email Marketing to Invigorate Sales
Email marketing synergized with automation can increase sales. It is the most rated/ preferred channel when compared with ROI.
Consider someone has show interest in your business, the salient question is to what next. How do you interact with them and close a deal? Tadaa, the sages of marketing and the so called sales gurus have mulled over and presented us the DRIP campaign. In simpler ways a means to constantly interact and engage with our leads.
Email marketing needs to be orchestrated in a way that the receiver should feel the campaigns value. The channel has been constantly strained by fellow marketers with similar kinds of email blast, where either the receiver nor the sender finds any value in this activity. Looking for a solution, let me help you. Hyper personalization is the best and effective way to overcome this muddle.
Cast the email subject line in a way that the receiver will get either inspired or motivated to open the email. Once the email is open clearly state what the receiver will get if he clicks the link and moves to another web page. (For eg: Avail this coupon code and get a discount). Also, mention the reason why he/ she has received the coupon code.
#5) SEO to Rank on SERP
Never rush and implement, it may backfire. Implementing off-page SEO is good, but if not monitored then it can lead to chaos. Link building is one great strategy, but always keep this in mind – To promote a good article you need to write excellent guest posts. Reach out to people similar in your niche (Note: – start small, check their spam score, be genuine) and seek opportunities to submit a guest post.
For an eCommerce site since you are sourcing products from multiple vendors ask them to give you a back link or give them a deserving testimonial, or ask them to mention you in there where to buy page.
#6) Build a Presence on Social Sites
Social media has advanced into an overcrowded marketplace, where a good portion of online traffic meets and engages. This is a platform that can be strategically used to brand your product and help build a considerable chunk of followers. In social media it’s not a question of whether you use it, simply it’s how you use this channel. When engaging on this platform for commercial gains keep in mind that this is not a broadcast media. Just posting all your commercial feeds won’t give you any result instead interact with people who liked, shared or follows your company page and learn what they expect from you and orient your business in a way that they will end up promoting you.
As an entrepreneur, there will be times where you may be tested to your limits. Volatile market challenges and uncertainties, like GST will whirl you down. At time, puff up your chest, be confident, and look out articles similar to that of BENEFITS OF GST. With challenges, the new reform also accompany opportunities. As an entrepreneur, it’s your responsibility to keep yourself updated and cope with change. GST is one of the most significant tax reform the nation has witnessed in the past couple of decades. If you don’t keep up with the pace, your sales may not amount to the scale you estimated. Take opportunities, learn and expand your horizon. That being said, create an eCommerce store your rival will envy.