How to Grow Your Budding eCommerce Business
Picture this: you’ve just set up shop online, hand-picked the products you’ll offer, and made your first sale. It’s only up from here, but how can you keep up the momentum? With a little bit of luck and lots of good strategy, your ecommerce business will be booming soon.
Keep reading to learn more about important steps to take to level up your online business.
Use email marketing to your advantage
An easy way to promote products to consumers and increase brand awareness is via email. According to this Forbes article, email marketing remains successful – it gives those who use it the highest return on their investment among all other marketing channels, which is 42 dollars for every dollar spent. The best thing about email marketing is that no matter what audience(s) you are targeting and no matter what stage your business is in, you can tailor your emails to cater towards the needs of your business. Additionally, you can (and should) use a service to assist with your email marketing goals. Platforms such as MailChimp, Hubspot, and ConstantContact, and many more simplify the process of sending targeted emails on your end.
Improve user experience with customer service technologies
Amazing customer service can be the main driver of a sale. With such a saturated online marketplace, providing helpful customer service is vital and can differentiate your business and product. There are many ways to improve upon customer service with one of those being utilizing live chat or chat bot software. The personal connection made during typical in-store shopping is lost in the eCommerce world and real-time communication helps encourage consumer action. Not to mention, chat tools can answer the questions of potential customers and make a sale without any effort on your end.
Social media is key
An easy way to increase brand awareness is marketing on popular social media platforms! Make accounts on Facebook, Instagram, and TikTok to expand knowledge of your brand. Make sure to create a social media plan. To contribute to brand awareness and recognition, definitely stick to a certain theme and post content which aligns with your product and goals. While getting lots of posts out there is important, beginning to pay for promoted ads can bring even more success. This is because you can tailor your ads towards various demographics, gain data from ad interaction, and receive more suitable leads. Since billions of Americans spend hours scrolling on their smartphone, you are sure to draw success via social media marketing.
Consider selling internationally
With access to the internet spreading far and wide, billions of users on every corner of the earth are shopping online. Do you sell exclusively in your country? If your answer is yes, expansion to other countries would work to your advantage. By offering your products elsewhere, you are:
- Advancing your market reach – you will be extending your product to millions of untapped potential customers
- Mitigating risk – when one region experiences economic downturn, you’ll have another market to fall back on
- Gaining competitive advantage – if other players in your space are not exporting, you’re getting a leg up on them!
Ecommerce funding is your friend
Whether you are just kicking off your online business or have been at it for years, a loan for your ecommerce business can make all the difference. A loan can help you increase inventory, improve your product marketing efforts, and scale up your business in a meaningful way. That’s where an ecommerce loan comes in. Companies like Onramp Funds are here to help you exceed your goals. More specifically, Onramp Funds can offer you a whole lot more than some cash at flexible, low rates. Our team is on your team – we can advise you in the right direction towards the best choices for your business.