6 Ways to Grow Your Ecommerce Business in 2020

This is another post for my readers who are entrepreneurs.

Growing your e-commerce business in this modern world has become increasingly difficult. Competition grows more intense every day, and ensuring your business stays on top of the rest means being constantly innovative.

Growing your e-commerce business in 2020 can be expensive, and unless you have no restrictions on budget, you need to think outside the box on how to improve your business – especially if you’re relatively new in the e-commerce market. As seasoned e-commerce entrepreneurs will let you know, this market can be a cutthroat place.

With that in mind, here are 6 tips on how to effectively grow your e-commerce business in 2020!

1. Market and Remarket Your Business

If you have a good marketing team and excellent marketing strategies that are up to date with the latest trends, you’ve already won half the battle. Remarketing to your existing customer base and potential clients who have already had some contact with your business is one of the simplest and most effective ways to grow your business. You can easily cross-sell your new products or services to people who are familiar with your company. If you fail to do this you miss out on a significant slice of potential earnings.

2. Make Your Checkout Process Seamless

The longer your checkout process is, the more customers you are likely to lose. A basic factor that can make your e-commerce business more effective is having an easy, seamless shopping experience from start to finish. One-click shopping, and guest-accounts are quickly gaining popularity in this regard.

Save customer information (with their permission, of course) so they don’t have to keep re-entering long details but don’t force them to make an account. Many people will put things in their shopping cart, but not buy them. Send out reminders and incentives so that customers progress to the next step and checkout. Apart from a quick and easy checkout, you also have to make sure your checkout portal and process looks as secure as possible. This will prevent customers from hesitating to enter their payment information.

3.  Be Original

You have to think about what sets you apart from the rest of the e-commerce market. Pick what makes you unique and market it well. Re-emphasize your USP or Unique Selling Point and ensure that your clientele knows about it. Most companies skip this step under the false impression that their USPs are obvious. They’re not, and people won’t know about them unless you specifically highlight them.

You also have to adapt to the quickly growing world, so if you feel like your USPs are no longer that unique and effective, then change them. Use research, customer feedback, and Predictive Analysis to improve your business and keep working on originality and uniqueness.

4. Use Technology to Your Advantage

The e-commerce market is a fast-paced, rapidly growing place. You have to keep up with the latest technological advancements if you want to stay on top of the game. If, for example, you don’t use Facebook and Instagram marketing, you are missing out on a large number of potential clients. Use these large social media platforms to promote your business and make it easier for people to buy things from your page. Use tools to measure important ecommerce metrics, to help you track your business’ performance and know which areas need attention.

You should also use influencers and send out PR packages so that your product can quickly gain recognition. There are around 1 billion people who use Instagram and 2.1 billion people who use Facebook daily. That is a huge, easily accessible market right there! You can even use Artificial Intelligence and Voice Search Websites to truly be one step ahead of the traditional e-commerce business model and improve your business.

5. Improve Delivery Services

Let’s say you’ve worked extensively on your marketing campaigns and have improved your site significantly to make the entire shopping experience a breeze. However, if your delivery services are still slow and expensive, your efforts will be in vain. Nobody wants a product that will be delivered months later.

Also, if your delivery service is needlessly expensive, most people will abandon their carts right there without finalising their purchase. Most e-commerce giants like ASOS use free delivery, or low-cost express delivery services to improve product delivery. If you can’t afford to implement such services the least you can do is ensure fast and minimal cost delivery.

6.  Introduce Bonuses and Referral Schemes

People love discounts and bonuses in every shape, size and form. Regularly introduce bonus schemes, such as free gifts on birthdays, or a discount on spending a certain amount. Make your customers feel like they’re getting a huge bargain that’s not easy to come by. You can even use referral schemes since word of mouth is a large emerging trend these days. Also introduce promo-codes and vouchers to attract more customers.

The tides are constantly shifting in the e-commerce sector. New technology has made entering the market and starting small scale e-commerce businesses effortless, however, this also means that competition is growing at an unprecedented rate. That being said, there are still numerous strategies you can use to ensure your e-commerce business stays on top.

 

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