Ecommerce Secrets the ‘Experts’ Aren’t Willing to Share With You

The days of everyone getting their necessities from a nearby brick-and-mortar store are long gone. Instead, ecommerce has continued to expand into a formidable force, with global growth of 24.8 percent in 2017, with Amazon alone generating $177.87 billion in revenue. (ecommerce platforms)

Despite this development and the enormous possibility for ecommerce entrepreneurs, many newcomers make costly mistakes that prevent them from developing a lucrative firm.

As an ecommerce expert with over 12 years of experience, I’ve learned firsthand that having a good product and a nice-looking website isn’t enough to ensure your store’s success. Those fundamentals are necessary, but any other ecommerce store will do the same thing.

With that in mind, here are a few ecommerce essentials I’ve learnt over the years that may make or break your business:

1. Develop an audience in advance of the launch. (ecommerce platforms)

Too many business owners make the mistake of opening their establishment and then only starting to market it thereafter. The issue is that digital marketing activities often take some time before they begin to produce the intended sales results. In the meantime, you’ll be paying site hosting costs and other expenses because you don’t have enough sales to support them.

Instead, you should get a head start on your marketing by establishing a pre-launch following. This is something we see all the time with Kickstarter initiatives that raise funds and generate publicity before the project is complete.

Even if you’re not making an entirely new or unique product, you still need to get the word out. Contests on social media, product giveaways, and email list sign-ups can all help you establish an audience so your store can earn purchases on the first day.

Related: The Supreme Court’s Sales Tax Decision Could Be Expensive for New Online Businesses

2. Pay attention to the customer’s lifetime value. (ecommerce platforms)

It’s difficult to convert customers. In fact, most estimates place the average conversion rate somewhere between 1% and 3%. As a result, you must make every sale count. If your average customer only spends a few dollars, you won’t last long.

You must focus on the customer lifetime value (CLV) rather than just the initial sale to thrive in this area. Naturally, this necessitates providing a positive customer experience during the initial sale. However, this implies that you will need to do some follow-up.

Email marketing is one of the most effective ways to accomplish this. A good email campaign allows you to keep in touch with customers after they’ve made a purchase, as well as reach out during holiday and other special shopping seasons. Increasing your CLV will lower your cost per conversion while also assisting you in achieving long-term sales results.

3. Use remarketing to your advantage.

Most ecommerce entrepreneurs devote a significant portion of their budget to marketing, with the goal of attracting new clients to their site and encouraging them to make a purchase.

But how about those you’ve already persuaded? You could be losing out on a lot of money if you don’t use remarketing campaigns to target them.

Repeat clients are more likely to not only buy from you again in the future, but also to spend more money with you. According to studies, repeat consumers have a 60 to 70% likelihood of making another purchase in the future, which greatly outperforms the normal conversion rate for ecommerce.

To ensure a higher marketing ROI, make sure your Facebook and AdWords campaigns specifically target those who have already visited your site.

4. Allow your customers to speak for themselves.

Building a strong brand identity is essential because it allows you to connect with your target audience on an emotional level. When you can build close relationships with your most enthusiastic clients, you can use their enthusiasm to spread the news about your store.

Few marketing tactics are more reliable or effective, according to studies.

The problem is that your consumers won’t always spread the word about you on their own. You’ll need to supply some extra motivation on a regular basis. Don’t be hesitant to send personalised letters to your best consumers, asking for a testimonial or simply getting their feedback on your products and services.

Use social media contests to generate excitement and get the word out.

The more you customise these interactions, the more likely your consumers will become actual “brand ambassadors” who bring in new customers.

5. If you decide to do dropshipping, don’t make a blunder.

For many ecommerce professionals, dropshipping — the process of having your product transported directly from the producer to the buyer — has simplified sales. It is, however, not without its own set of potential problems.

Slow shipment timeframes, no tracking numbers for your customers, and low-quality products are the most typical concerns I’ve observed with dropshipping.

All of these things have the potential to ruin your customer’s perception of you. As a result, performing a quality check of your supplier’s products before you start dropshipping is critical. You may be confident that your items will live up to your brand promise in this manner.

Source: ecommerce platforms , online selling platform