You may have made some good New Year resolutions to grow your business next year, but have you thought about how are you going to bring home the “extra beacon”?
Would you go to new markets or product innovations, or you’d rather hire a larger sales force to bring you new clients? E-commerce can be an excellent source for expanding your business as the entry costs are still pretty low and the market is showing a healthy growth trend. According to the latest eMarketer forecast, we can expect growths of over 13% from one year to the next (source: https://7figurecycles.net). You can easily imagine what this could mean to your own business and to your income figures. The only challenge is to find effective ways to capture a big slice of this e-commerce growth.
One of the most used methods in the past years is to take a look into the past Black Friday and Cyber Monday season sales to see how online stores have exceeded their bets expectations in terms of revenue and profits and then copy their products and strategy.
Here are 5 strategies for you to consider implementing in your eCommerce strategy in 2018:
- Become an authority in your niche
E-commerce success is a matter of establishing you’re your brand as an authority in the niche you are selling in. This means you have to find a small niche and dominate it by positioning yourself as the ultimate authority in that area of expertise. The best way to start out is to build brand awareness at first and deliver high-quality products at reasonable prices.
- Sell products on a personal level
One of a kind experience appears to be performing much better than activities that target general audiences. Modern technology allows us to do this, so it would be a shame not to take advantage of the ability to offer your potential clients a customized experience, in accordance with their passions and interests.
- Create sticky content
This is easier said than done. Nonetheless, you need to develop and implement a content creation strategy aimed at making people come back to your e-commerce for more information.
- Customize the browsing experience by target segments.
If you address college students, use flashy colors and bold statements. If you address older individuals, use a milder approach. Always try to offer people the kind of experience that makes them feel safe. You can find more information here: http://www.gfkamerica.com/7-figure-cycle-review
- Use multiple channels and integrate your communication across them.
Try to welcome your target audience on multiple channels, offering them the chance to interact with your brand while using their favorite social media networks or websites. It matters less what type of products or services you are selling. Getting active on social media is mainly a matter of interacting with people and establishing yourself as an authority in your niche or industry.
This is just a few strategies to be used in 2018 which will surely pay off, so the sooner you start developing and implementing them, the better.