Business growth can impact every area of an e-commerce operation, the income typically increases, purchasing power increases, overhead cost becomes a moderately smaller percentage of income, and, in most cases, the business thrives.
The question then is not whether or not to grow but how to grow. What follows are six effective ways of how to grow an e-commerce business.
This is a quick way to generate sales for your e-commerce site. If done correctly and the right audience is targeted, it would boost sales.
For starters, it's safe to test the waters with small amounts, and then subsequently you can invest more in paid traffic. When running a paid traffic campaign you should adjust your paid strategies to suit your goals – do you just want more traffic, or are you looking to increase conversions, too? Each paid channel has its pros and cons, so think carefully about your objectives before you reach for your credit card. Some ad platforms include Facebook, Twitter, and Instagram.
Showcase Your Products Better:
You should know that people buy benefits, not features. One of the ways to improve the presentation of your products is to take good pictures of them. Do this in front of a good background and under good lighting. This would increase customer’s interest and the possibility of them adding it to their cart.
Also, whenever you’re describing the benefits of a product, you need to have an in-depth understanding of who your customers are.
You can then relate how certain features of the product will aid the struggles of your customers.
If you want to emphasize any of the points you’re making on the page, consider using some ‘Power Words.’
Offer more discount:
This is a common and very effective way of marketing and improving sales.
Everybody loves discounts and would prefer to shop in a site that offers discounts than in ones that don’t, in a bid to save money.
Worried about your profit margin? Jack up the price of each product and put it on sale.
Also, you can create an atmosphere of urgency, by putting a time frame on some discounted sales. This would make customers want to purchase a product while the offer lasts in other to not miss out on it. One of the easiest ways of creating discounts is by using Tradift, Tradift provides a simple interface for creating discount codes for stores on its platform.
Know your Customers
The better a retailer understands who its customers are, the better that retailer will be able to market and communicate to them. Better advertising and communication should lead to improved traffic, conversion, sales, and profits.
Knowing more about the buying behaviors of your customers has numerous advantages, If you could know one new thing about your customers, what would it be? How they found your site? What made them decide to purchase? What made them decide not too?
Knowing and understanding targeted customers is the overarching rule of exceptional companies. Award-winning business builders know their customers as well as they know their own families.
Offer complementary products:
Once you have found a service or a product that other people truly love, don’t skip on the potential of being versatile by selling other items and accessories related to that product. This is also known as upselling. Not only will your customers get a broader selection of products, but they will also have the opportunity to come across similar products that might be useful. This will especially appeal to customers who tend to love stocking up on a product line versus just a single item.
Invest in Social Media
It’s not enough to have great products listed on your online store and hope that people find it – you have to be proactive. One of the best ways to increase traffic to your online store is to use social media channels to promote your content.
When it comes to representing personality and creativity via social media, one platform that comes to mind first is Instagram.
Instagram is a perfect place to present the creativity and passion that goes into your business behind the scenes. Snap pictures of your products, take videos of the manufacturing process, tell a story with images. Always aim for beauty if possible. People love beauty.