E-commerce has grown exponentially in the last few years, turning the industry into an everchanging and innovative space. On top of this, there has also been a positive growth towards business ownership, prompted by the tremendous job losses of the past years.
With over 25% of business now being conducted online, small e-commerce entrepreneurs must seek out new ways to stand out and differentiate themselves to increase their reach and impact.
Previously, growth could be achieved through honing in on advertising. Marketing has since moved from paid interruptions to innovative, organic ways of advertising and creating brand awareness.
5 Tips to Grow Your Ecommerce Business
Here are five curated growth tips with great impact on getting your company to the next level.
1. Base Your Strategy On KPIs
Key performance indicators (KPIs) provide the data and information needed to make informed decisions. Before you actively work on growing your company, you must first know what needs to be improved in order to grow.
Using monetary, customer, purchase, social media, and conversion indicators could be a good start to monitoring the current state of the business. With this solid data from different departments, actionable steps can be taken in alignment with the company’s strategies.
2. Leave a Good First Impression
Most customers need only a few seconds to come to a decision about your company, product, or service. Whether they interact with your website, social media, or email, their first interaction will leave a lasting impression, which is why it’s so important to make sure it’s a good one. Investing in these platforms so they accurately reflect the essence of your company is the best way to ensure a good image. This includes having your own business email address, an attractive, easy to use website, and quality content on your social media.
3. Be Customer-Centric As A Customer Loyalty Program
Placing customer’s at the center of all business processes is a sure way to ensure customer loyalty. From the first interaction a customer has with your company, the CX sets the expectation for the entire brand. A quality customer experience strategy shows customers that you care about them at every step of the way, creating a positive image for the brand. This is even more important in e-commerce businesses, as customers only get to interact with the company through few and selected platforms.
4. Expand When The Time Is Right
Expanding into new specialized segments (also known as a niche) when the company is ready for it, can help you both stand out among your competitors and stay on top of current trends. When done correctly, expanding into a new niche can add value to your customers, and by extension, your brand.
5. Promote Direct, Personalized Communication
One of the best selling points of smaller businesses is the fact that they offer a personal and intimate customer experience. The modern customer looks to friendly and authentic interactions and live chats are a great way of doing this. They produce the highest satisfaction levels within the different customer service channels, reaching 73%. Apart from humanizing your website, it is a perfect way to bridge the gap that online shopping creates with the customer.
CX as a Growth Booster
To promote lasting growth, customer satisfaction and loyalty must be achieved. With these tips, accompanied by excellent CX, your company will undergo organic growth without mindless and overpriced advertising.
Hire Horatio is committed to helping you build a personalized customer experience while promoting your company’s sustainability and profitability. Contact us to change your strategy for client experience!