There's a key shift happening in the world of digital and e-commerce, and it's flattening the playing field for pioneering and forward-thinking entrepreneurs worldwide: More and more retail stores are moving to digital in an effort to adjust to changing customer habits and an epidemic that's closed many storefronts.
Nevertheless, getting started online can be perplexing, so as an e-commerce entrepreneur, I want to offer my top strategies for building a prosperous e-commerce business.
Drive the Right Traffic to the Store.
Before you start, I suggest installing Google Analytics and the Facebook Pixel at least. Through using these digital marketing tools, I've seen that they permit you to collect data about your website visitors, run online marketing strategies, and produce custom and lookalike audiences.
It's also significant to recognize which sorts of traffic are visiting your e-commerce store. The first kind of traffic is organic traffic. "Organic traffic" speaks to visitors who land on your website as an outcome of unpaid search results. Instances include blog posts, social media marketing, and SEO.
The first store I formed was a dog brand. I made sure I was ever-present across all social media networks, and I posted three times every day to build a following using the most shared hashtags. The main reason I saw achievement was because I used a pro tactic. As an alternative to targeting all dog lovers, I targeted each sub-niche, such as people who owned huskies or used bark boxes. Every dog parent has a different personality, and I was able to target those behaviors exactly.
The other type of traffic is paid traffic.
I suggest focusing on one online advertising platform at a time when trying to create paid traffic. An example would be Facebook Ads, which lets you target detailed audiences on Facebook and an enormous database of users.
Increase the Normal Order Value.
My next online marketing strategy is to emphasize the average order value. This is considered by dividing the total revenue by the number of orders. So, let's say you have a consumer who is about to purchase, or has just purchased, a Knicks hoodie. You can present to them with a second offer where you can propose more of the same, or you can present them with an offer for a comparable item at a reduced price.
Don't Skip Over Email Marketing.
Hopefully, you have already started building an email list of subscribers, social media followers, and past customers, it is time to turn your email list into a robust monthly money-generating machine.
I find email marketing influential because you have already attained the lead and/or consumer, so you can begin to form dominant flows and subdivisions to guarantee you get the best open rates and deliverability.
By keeping these strategies in mind, you can be on your way to crafting a store that's a valued asset. Maybe you will sell it down the line or entice new investors who can help you grow it to new altitudes.