E-commerce has skyrocketed from last year – and with it, inbound marketing strategies by savvy e-commerce marketers have picked up the pace, struggling to attract customers to their site and get that sale.
While a sound e-commerce marketing strategy will always involve a blend of outbound and inbound marketing. 2021 is witnessing the rise in demand and competition; there’s little scepticism that now is the time to concentrate on your eCommerce inbound marketing strategy to improve your return on investment.
If you are looking to expand your e-commerce business, you need to market your store aggressively. Always beat out your competition to draw customers and traffic.
What is Ecommerce Marketing?
E-commerce marketing is the process of expanding your online store via organic SEO, inbound advertising, and other marketing tactics to improve website traffic, brand visibility, and sales. It involves stimulating awareness with social media, email, search engines and digital assets and compelling website actions with conversion rate optimization. Ecommerce marketing employs various digital marketing strategies to turn visitors into customers.
Ecommerce Marketing Strategies for your business are:
- Collaborate With Other Companies
It is a great eCommerce marketing strategy where you can find related eCommerce websites and collaborate with them. This strategy is considered one of the most accessible and most affordable marketing strategies to expand your business. For example, you can allow a discount to all the customers of your partner website when they come to purchase your products through your partner.
- Start Employing Affiliate Marketing
In today’s time, the best online marketing strategy for expanding your online store is to employ affiliate marketing. Affiliate marketing is a performance-based marketing strategy where you will pay commissions to affiliates when they bring you successful sales. Affiliate marketing is appealing to online stores because you only reward affiliates when they covert sales.
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- Target Other Groups
Make sure that you do not just concentrate on your primary target audience. Instead, extend your targeting efforts and discover new customers from other groups. For instance, when your prime target market involves students in college, you might want to start expanding to other markets such as teenagers.
- Sell to Current Customers
You need to discover ways of increasing sales to the customers you currently have. It is a lot easier than obtaining new customers because you already understand that they prefer your product. One way of doing this is by providing discounts. For instance, if your production cost is not very high, you can allow discounts like buy one get one free.
Also, you can allow loyal customer rewards by providing customers loyalty cards, allowing them free services or products for every ten things they purchase. It is a common method that works. Apart from that, you can consider starting a referral program so that you can reward your existing customers and engage new customers without spending much.
- Offer Complimentary Services or Products
Once you own a service or a product that other people really love, don’t jump on the potential of selling other items and accessories associated with that product. This is also recognised as upselling. Not only will your consumers get a more extensive selection of products, but they will also more likely be more attracted to your products. It will particularly appeal to customers who like stocking up on a product line versus just a particular item.
- Streamline Your Inventory Management
Another way to improve your eCommerce profits is through more reliable inventory forecasting and inventory management. If you can precisely predict the amount to reorder and reorder it, you can lessen high shipping costs.
- Market Most Popular Products
Make sure you invest time and effort to concentrate on promoting, selling, and marketing your popular products. You already know statistics that show these products to be winners, so your marketing efforts will not go in vain. Instead, it will improve the sales and conversions of your online store. Even though it can be fascinating to try and market all your products, it usually is more profitable and less risky to pick some products you believe and apply them to bring traffic to the store.
- Launch Referral program
Referral programs are a great way to expand your network as it helps you entice existing customers as well as new customers. Referral programs allow you to reward your customers for spreading the word. If you do not apply this tactic yet make sure you leverage it as it’s an affordable way to draw traffic. You can consider using referral program software to gauge the progress of your referrals.
- Think Outside The Box
Think outside the box to discover other eCommerce strategies that will entice customers to your store. Like, have you conceived of turning your eCommerce business into a business or franchise opportunity? Does your business suit this model? While most businesses online tend to remain small in scope, you might notice that yours can probably be a wholesale distribution or a franchise. In that case, you should begin thinking about global expansion and engaging new personnel.
You can also discover other forms of selling, such as through affiliate networking and the like. Thinking creatively and discovering more ideas to make money is highly rewarding for your eCommerce store and business growth.
