There is no denying that breaking into most ecommerce markets can be tough. The majority is oversaturated, and going up against already established authorities in the niche can seem like a waste of resources. Does that mean you should give up on the idea of running an ecommerce business if you cannot find a narrow niche? Not necessarily.
Even if you are incapable of finding that perfect market, there is still a lot of money to be made. Ecommerce itself continues to grow and is projected to reach about 5 trillion dollars worldwide by the end of 2021 (Shopify Plus).
The bottom line is that you can succeed by putting effort. And this article should give you some ideas on what you should do to achieve the goal of running a successful ecommerce business.
Step #1 – Look for New Marketing Channels
While focusing on SEO and social media brings results, your marketing strategy should not revolve around the two. Especially if the latter is only Facebook and Instagram. There are new and emerging social media platforms that you should strive to establish yourself on as soon as you can.
As for other marketing methods, pay-per-click seems to be overlooked by quite a few brands. It may seem like getting into PPC can be difficult, but the process can be simplified by using a powerful Google Ads automation app from Cleverecommerce.
Email marketing is also not as popular as it once was, but you should still aim to start a newsletter, no matter its frequency.
Overall, the more marketing methods you use, the higher your odds of succeeding will be. And take your time testing things to determine which techniques bring the best results.
Step #2 – Reward Loyal Customers
Customer retention should be on the agenda list as well. Returning customers are more likely to spend money again. They are visiting the site because they are happy with the purchases they made in the past.
You can grow customer loyalty by providing your most frequent clients with exclusive deals, discounts, entries to a raffle, and other perks.
Step #3 – Improve Customer Experience
The customer experience itself should also be something on the agenda. People will not bother with your store if they are unhappy with the customer support department. There should be someone who can respond to calls, emails, social media messages, and live chat on the website as soon as possible.
Also, keep in mind that some people prefer to find information themselves. So a knowledge base that consists of helpful articles or an FAQ section would also come in handy.
Step #4 – Provide Multiple Payment Options
More and more stores are introducing new online payment methods. It is for the sake of convenience. If a customer does not see an option he or she prefers, the chances are that you will end up with another abandoned shop cart.
Step #5 – Invest in a Good Website Security System
Website security is another point that some entrepreneurs miss. While most CMS have built-in security systems, there is still an argument to be made in favor of investing even more than you had previously. After all, there are new cybersecurity threats that pose a danger all the time.
Moreover, the average customer online is also becoming smarter. If there are any suspicions about the safety of the website, the chances are that you will not be able to retain the customer.
Step #6 – Cooperate With Other Brands
Working with other brands and influencers can be a great stepping stone for those who are still struggling to find their rhythm and establish themselves as a recognizable business.
Even a simple shoutout can make a world of difference and attract you a decent amount of new customers. Of course, you should not look for random brands that would be willing to cooperate. The joint venture should make sense and be created with the intent to target the right kind of demographic. You do not want to end up wasting money on something that will not bring you noticeable results.
Step #7 – Research the Competition
Competition does not have to be a hindrance all the time. You can use it as a source of inspiration. There will be days when you are running out of ideas and have no clue what the next move should be.
Following trends is all well and good, but they are not the be-all-end-all solution. Take a closer look at what the other brands in your niche are up to and implement some of their strategies into your campaign.
To sum it all up, getting started, and establishing a profitable ecommerce business will take you time. And despite the struggles you will encounter sooner or later, remember that you can still make it provided that you stick to the plan and push through.