eCommerce has been nodded at as one of the fastest growing industries globally. In fact, online retailing and sales now make up almost a quarter of all retail sales globally, and it is simply expected to grow further. The global pandemic which swept across the world in 2020 triggered an unexpected growth spurt in eCommerce, and three years on, projections state that by 2030, online retailing could start dominating the overall retail industry.
So, how do you stake your claim in this growth? What can you do to set yourself on the map of online sales? We took a look at how you can start increasing conversion rates in 2023, and how to do so with minimal effort. If you simply do not have the time and resources to work on your marketing strategy, there are a few cheat ways of actually achieving it.
Mold Your Company on the Premise of Selling It
A lot of business owners do not take this into consideration when starting their companies. When kicking off your business, or even moving it into another stage of growth, you should be doing so with the potential of selling it in the back of your mind at all times. Each part of the business should be running effectively and refined in order for you to simply hand it over to a new buyer should the opportunity arise.
This means streamlining all operations, marketing and sales functions in the business. Have your business plans and proposals ready, and have a functional and operational strategic plan. With all of this foundation work done, not only will you be functional enough to be making regular sales, but should a buyer come up, you will be ready to make a profit. This is especially true in the case of an Amazon business. In order to effectively sell Amazon account assets to a potential buyer, you will need to have the entire business laid out and ready to pass onto the new hands.
Know Your Customer
Many businesses make the mistake of conducting an analysis of their customers when kicking off their business and never doing it again. By presuming that you know your customer and not taking a step back to re-look at them regularly, you are stifling sales for your business. You do not need to do regular check-ins with your customers, but you do need to know that your customer evolves regularly.
If you want return customers for your business, you will need to understand not only their basic demographics but also what their wants and needs are. You will need to know what their behaviors entail and what interests them. So, how do they behave online? What captures their interests and what are they more likely to follow and click on? Do a customer mapping exercise at least once a year. You might find some new data to slightly alter your strategies which could have a huge impact on your sales and bottom line.
Produce Content Worthy of Conversions
Now, we know content is not minimal effort. Creating content can be somewhat resource intensive, but, if you do it correctly, once you get it right from the outset, it can get much easier. We will always encourage brands to start their content strategy on the right foot from the start, as once you get into the swing of things, it will usually get easier and easier to roll out the right content regularly.
Create a content strategy at the beginning of the year. Break down your weeks and months in the year and plot out where content should be going and what kind of content should be posted at various times of the year. Remember, you want the content to be posted across all of your platforms numerous times a week, however, most of this can be duplicate content that can be refined for each platform. Get a template for each platform; ie. your emails and socials, and build it up from there.
Measure, Monitor and Test Everything
The next thing to take a look at is how things are working in your business. Is your content working? Are your marketing efforts actually converting? Pulling up these metrics is actually quick and easy and will give you all of the data and insight you need. Your social channels, for example, all provide insights into how your posts are doing and how many click-throughs and conversions they received. The same goes for your email tools. These will also provide you with data on the open rates, click-throughs, bounces and unsubscribes.
With this, together with the use of Google Analytics, you can have a keen insight into what works and what doesn’t. So, you can test which marketing strategy resonates with your customers and what reaches more audiences. And from there, you can re-create the more successful campaigns that actually work.
The Bottom Line
In wrapping up, your marketing efforts don’t necessarily have to be an intricate process that is constantly resource-intensive. However, to reach that point, you will need to reevaluate your business operations, get to know your customers and start the process right from the ground up.