ecommerce

Expert Author Maulik D Shah

With so many online stores selling more or less the same products, competition is at an all time high in the online retail industry. Any eCommerce business wanting to succeed in this competitive environment needs to have the right marketing strategies in place. It's simply not enough to have a great webstore. Without proper marketing all your website development efforts will go down the drain.
Here are some eCommerce marketing strategies you can use to get the best out of your eCommerce venture.
1. Upsell Your Products
A majority of merchants go for up selling their products, because up selling works better than cross selling online. There are two main factors to up selling - 1) Make your upsells related to the original products 2) Have the right product pricing strategy to make the upsell look like a deal. Also make sure that products you are up selling fulfill your customers' needs. New products must be really better than the original ones.
2. Integrate Instagram
An average order value from Instagram marketing is around $60.00. Instagram gives brands 25% more engagement than any other social media platform. If you use right filters, appropriate hashtags and post at the right time, then you are on the right path on Instagram.
You can run campaigns, contests and share user generated pictures on Instagram. It is an excellent way to attract users towards your offerings. Instagram is one of the fastest growing apps and can be integrated with your store to have a better user engagement.
3. Launch A Facebook Store
Nobody in their right mind should ignore Facebook, the biggest platform for social media marketing. What many people are not aware of is that it is also a great source to generate traffic for shopify users since it is well integrated with Shopify store; you don't have to have a separate track of your inventory changes. Facebook Store, an app built by Shopify lets you display and sell your products directly on your Facebook page. Buyers can share their favorite items with their friends.
4. Capture More Email Subscribers
Email is one of the most essential means at your disposal in eCommerce marketing. It drives online traffic to your store. Email marketing is one of the oldest and still the best channel for digital marketing because it is more direct and accessible. If you are not convinced, consider these stats:
  • Emails have an ROI of around 4,300%.
  • 80% of people claim that they receive marketing messages with their personal emails regularly.
  • 70% of people make use of discount offers.
So don't ignore the power of good old email. Getting your target customers subscribe to your emails is one of the most surefire ways of increasing sales.
5. Improve Email Campaigns
Of course, it is not sufficient to gather a bunch of email addresses. Sending emails regularly with targeted content and offers is critical. There could be many occasions for sending emails that your subscribers appreciate.
For instance, send a welcome email once the customers sign up. This helps have the highest open rates of any marketing e-mails. Or you can let your customers know that their order is being processed and on its way. They would love to know their order status.
Another example is to send regular newsletters and let your buyers know about new discount offers, tips and company news. Out of curiosity, they might check your emails.
6. Generate More Product Reviews
As per the online magazine Internet Retailer, one can boost eCommerce conversion rate by 14-76% by adding product reviews to eStores.
There are two key reasons why this is so. First is social proof. Product reviews are similar to testimonials, wherein people share their experiences after using particular products. Second key reason is, SEO. Product reviews help increase the amount of content on web pages and also increases the probability of ranking for long tail keywords.
Maulik Shah is the founder and CEO of Biztech Consultancy, an IT services provider based in India, specializing in providing ecommerce development solutions, CRM and ERP solutions for SMBS and enterprises.

Expert Author Maulik D Shah

By Maulik D Shah

8 Strategies For Success In Ecommerce

What makes an online business successful? Is it the products you sell, or their price or marketing? The ecommerce industry is continuing its fast growth and will continue to do so in the near future. But today it is is crowded with a plethora of players selling similar products and most engaged in price wars to win over customers. But deep discounts and engaging in price wars doesn't ensure long term success. Innovation in product strategy or the delivery process is key to success in this competitive industry, not discounts.

Getting back to the fundamentals of marketing i. e. focusing on the 4Ps of marketing - Product, Price, Place and Promotion can give you a starting point to build a strategy that leads you to long term ecommerce success. Here are some tips that will guide you to success.

1. Develop a USP for Your Store


The age of developing general ecommerce stores is over. That war has already been won by Amazon and the other key players. And if you want to become another Amazon or eBay, that's a guaranteed way to fail. The future of ecommerce is about specialty stores. Heavily invest in your brand which is unique & creative, and never take it easy on your lead. In this online age, it's hard to have customer loyalty.

So you need to expand your product line in your niche to stay ahead of the competition. You need to stock deep. For example if you opt for footwear as the category to specialize, stock so many varieties for footwear that even Amazon doesn't have. Become the destination for people looking to buy footwear online.

2. Choose the Right Technology Platform

Choosing the right ecommerce platform is very critical, since an ecommerce business is heavily dependent on technology. Its not just enough to have a robust and scalable ecommerce platform. Social media integration, good UI & UX, mobile friendliness, SEO, modules for content marketing and customer support have also become the fundamental needs of an online store today.

Based on these factors and the understanding of what's required to open a successful online storefront, decide which ecommerce platform will suit you best. Don't forget to factor in your business goals, budget, and technical experience also.

3. Work on Your Pricing Strategy

Your product pricing strategy may make or break your business. Do a detailed study of your competitors and their pricing and then decide your products prices (and discounts) accordingly. If you are in a very competitive category, to make an impression in the market you may have to keep your prices low initially. And to attract more customers, you can run periodic discount offers. But try to keep a balance. Don't give too much discounts otherwise customers will start expecting discounted price all the year round.

4. Understand Your Customers

Understanding your customers aids you to sell further. The more you know about their needs, the easier it is to recognize opportunities to sell them the new products and target them with suitable offers. Profiling existing customers also makes it easier to find new ones.

However, you must confirm that you act in accordance with data protection regulations for any personal information on existing and potential customers that you collect, keep and use. There are specific rules for ecommerce. Understanding your customers facilitates you in planning. You can forecast what they will buy, and guess how much stock you need. Relating customer management to purchasing can improve profitability.

5. Have the Right Online Promotion Strategy

There are several ways you can go about promoting your online store. Having a concrete promotion strategy is important to succeed in an online business. Ecommerce marketing isn't easy and requires lot of effort and work. Your ecommerce marketing should be comprised of:

PPC advertising
Email marketing
Content marketing
SEO
Social Media Marketing

Having a winning strategy for each of these online marketing tools, combined with other steps explained above will definitely take you ahead of your competitors.

6. Improve Your Brand's Credibility

Your brand's credibility is important as it results in loyal customers and repeat business. Give your customers a guarantee that your store is a good place to buy products from. Ask for testimonials and feedbacks of satisfied customers. Offer a small discount to your customers for their next order if they write a review. Integrate reviews from third party sites to your store to make the feedback look more genuine and useful. Get your website audited from trusted certification companies like VeriSign and show their certificate. Add SSL certificate to your site to make the payment process more secure.

7. Make It Easy for Customers to Buy From You

Today consumers have more places to buy from than every before. If you have an ecommerce business, and you wish for online shoppers to buy from you, you have to attract their attention - and make their shopping experience satisfying and easy.

There are various ways to do this - make sure that your site loads rapidly; make your navigation intuitive; display customer reviews prominently etc. Apart from this, you can remove the requirement of creating an account. Also make sure that your default shipping option is pocket friendly. You should also contain various payment options like credit card, debit card, mobile wallets and net banking.

8. Keep Functionality in Mind

When it comes to functionality and speed, bounce rates and shopping cart abandonment are directly connected to your website performance. The slower your store functions, the less money you will make.

The other feature of functionality is navigation. Formulate it as user-friendly. Often, this comprises of categories list, a well-organized header and footer. You may also need to append a search field and site map on the homepage of your store. This will assist your shoppers to search exactly what they are looking for within seconds.

Mr. Maulik Shah is the founder and CEO of Biztech Consultancy, an IT services provider based in India, specializing in providing ecommerce development solutions, CRM and ERP solutions for SMBs and enterprises.

Article Source: http://EzineArticles.com/expert/Maulik_D_Shah/1532722

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