With eCommerce sales on the rise, the industry becomes more and more competitive, and as such, much more difficult to succeed in. According to the NAB Online Retail Sales Index, Australian consumers alone spent more than $20 billion online in 2016. So if you’re looking to grow your online business, you have to market your eCommerce store aggressively and consider certain business tactics that will put you above and beyond all others on the market. In the following article, we will present you with some of the more advanced strategies you can implement into your business plan to make sure you gain that much needed competitive advantage.
1. Optimize for mCommerce
Around Thanksgiving in 2015, exactly 26% of all online sales were made from mobile devices, meaning that aside from building a responsive website, you have to take a more proactive approach. Test everything from simple mobile payment processing to the design of the checkout for mobile devices, as mCommerce optimization is a continual process which is bound to bring positive results in the long run.
2. Use Facebook Exchange retargeting
Seeing a higher shopping cart abandonment rate? You can turn this unfortunate event around using Facebook Advertising. Thanks to the level of segmentation, it not only helps with the acquisition of new customers, but also re-activating some of the old ones.
What Facebook Exchange does is drops a cookie on your visitor’s computer. If they add a particular product from their offer to their cart, but in the end decide not to purchase it, a cookie will land on their computer and signal Facebook that it should display an ad on that customer’s profile reminding them to complete the order they’ve made.
3. Expand into new territories
ECommerce businesses often overlook the fact that new customers can be acquired by expanding their offering to other countries and regions. Still, when devising a strategy for targeting new markets, take into account the cost of shipping. Delivering goods to remote locations will cost your business a bit more, meaning you will have to up the price of shipping. As high freight prices represent one of the most common reasons for the shopping cart abandonment, you’ll have to think carefully about the shipping strategy that’s most appropriate for your business.
Between flat, live and table rates, the last one is the most common choice for online stores. This strategy allows you to define multiple rates based on the destination and zone, even product weight and price. Namely, this means that if you have a warehouse storage in Sydney and someone from the UK orders your products, they will be charged higher fee than someone who has purchased your products from Sydney area.
4. Focus on the most popular products
Pareto’s Law states that around 80% of your profits come from about 20% of your products. This means that instead of dispersing your marketing efforts on all products from your offering, you should focus on only top quality ones. Directing yours attention towards a limited number of products that drive most traffic and sales will eventually contribute to the exponential growth of the company.
5. Automate important dates
One of the easiest ways to build stronger relationship with your customers is to offer them seasonal discount coupons, particularly birthdays specials. There are several marketing automation tools and software that will enable you to send a personalized message on your customers’ birthday, as well as at specific intervals after they visit/make purchase on your website. Ultimately, this personalized approach will help you boost customer loyalty and keep the old customers coming back for more.
In the end, if your business is not growing, it is not improving.
We hope this article has given you at least a few ideas worth considering for the upcoming busy eCommerce season. If there are any other tactics you’ve already implemented, feel free to share with us in the comment section.