E-Commerce Growth Strategies
If you expect to achieve sustained growth with your eCommerce business you will need the website, marketing plan, advertising plan, and budget to get there. Growing a profitable Web Business is a strategic process that requires long range commitment, careful planning, and on-going execution and patience. It’s vital that you know exactly what you want to accomplish and that you have done your research to understand what it will take to get there.
Of course you need to have a website that is optimized and tested to convert traffic (sales funnels for your website and landing pages for your advertisements), and then you need to devote time to developing and executing short-term and long-term promotional strategies. These strategies must stand on their own as well as work together to get you the best results.
Here are five key strategies you can use to advance your business and improve your profit margin:
#1. Always Look For Opportunities to Increase Sales
The hunt for new customers should be phase one of an ongoing (as in monthly) three-phase marketing approach that every online business owner should embrace.
Phase two is to follow up with these new customers from time to time, and introduce them to additional offers. The objective of this second phase is to get them to buy from you more often.
The final phase is to offer expensive items, or bundle multiple items into higher-priced packages. This will give your customers more opportunities to make larger purchases.
#2. Find the Best Use for Your Marketing Budget
After you have identified your market demographic (USA, Canada, all countries, just your state, just your county, tri-county, etc), fixed your goals and decide on a promotional strategy (something catchy) for reaching potential customers, then the next step is to figure out how to maximize your budget and get the job done without blowing your budget.
DID YOU KNOW: Studies show that the average consumer will see a promotion about five to seven times before taking action on the offer.
You want to expose your product or service, as often as possible, to consumers who will derive the most benefit from it.
So instead of blowing your budget on a single opportunity to reach your select group, it is much wiser to get everyone’s attention with repeated promotions (monthly on-going advertising). Use as many different forms of advertising as you can afford and squeeze the most out of your marketing dollars.
* Earth Skater Online Store Solutions include real time analytics to track website visitors and search engine traffic and sales in real-time. The value of knowing where visitors arrive from and on what page and where they go on your site will help you to optimize and improve your website and landing pages over time. Using both your general website statistics and Earth Traffic will be the key to understanding how your online business works and ways you can increase traffic.
#3. Invest in a Virtual Assistant
This is an opportunity to outsource various redundant tasks to someone who is capable, reliable and trustworthy. The big advantage to you is you’ll have more time to devote to activities that generate income and help you grow your business.
A virtual assistant works from his or her office as an independent contractor and is responsible for whatever administrative or operational responsibilities you assign. Compensation can be agreed upon at an hourly rate, per assignment or by retainer.
If you are not yet at the stage where you can afford to pay a virtual assistant, you can consider a suitable barter arrangement with a subscriber or a customer. You can also ask a family member or a friend for help. You can’t do it all yourself and you shouldn’t even consider that option for the long-term.
* Earth Skater provides expert service to off load your work burden. Whether it’s updating website products and content, managing and/or providing your marketing and advertising campaigns, or just providing consultation to your business; Earth Skater provides service second to none in both expertise and affordability.
#4. Use the Power of Email to Convert Visitors Into Customers
Email marketing is one of the most economical and reliable ways to build a relationship with visitors and eventually convert them into buyers. It is an effective tool for staying in touch and developing the level of comfort and trust that is necessary before they will agree to do business with you.
You can use email to convince your subscribers of your expertise in your niche. The more they come to accept you as an authority, the greater your credibility will become and the easier it will be for you to make sales.
Plus, email is a very handy tool for keeping customers abreast of new products, special promotions and the latest announcements about your business.
* Earth Skater recommends iContact, read more about Earth Skater Professional newsletter marketing here.
#5. Develop a System for Everything You Do
Make sure to design methods and procedures that simplify and expedite important aspects of your business operation. Very often these systems will evolve from trial and error, but when they have been perfected they should become standard procedure.
The most efficient systems are those that get you to your objective as quickly as possible, for as little money as possible and with the least possible effort.
* Earth Skater eCommerce is #1 the system for small merchants to manage their online stores and affiliate programs.
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