You have launched your first eCommerce product, congrats! You just made the first step in securing financial freedom and growing your business. What next? Now you want to focus on expanding and growing sales, but how do you do that? The first step to driving up your revenue is marketing your eCommerce business.
What even is eCommerce marketing?
According to digital.com, “Ecommerce marketing refers to the strategies used for driving traffic to online stores to increase sales.” In short, marketing is the key to gaining more revenue for your eCommerce business.
When should you start marketing your product?
First things first
After launching your first product, you must create a website and start building your brand. According to oberlo.com, more than ⅓ of American small businesses do not have websites. Having a website does a few key things. Not only does your website provide a place for you to sell your product, it also establishes your credibility as a business and gives you a platform to showcase your brand. Shopify;, Wix, and Weebly are easy tools to build sleek and efficient websites for your business.
Building your Brand
Your website should clearly show your brand; who you are, what you are selling, why you do what you do, and most importantly your values. You also can include a logo, name for your store, and staple colors to start promoting brand recognition. Once you solidify your brand, you will start to get set apart from your competitors and increase the chance that customers will continue to buy from you.
How to Market your product
Once you have built your website and solidified your brand, it's time to start marketing! Here are various easy-to-use marketing strategies you can implement to grow your eCommerce business!
Pay-Per-Click (PPC) advertising is an effective paid advertising tool that allows you to pay for leads and put your product or website in front of your target market. According to webfx.com, ad clickers are 50% more likely to buy a product than organic visitors.
Here are a few ways to use PPC
Paid Search Ads
To use this, you will choose a keyword, for example, if you sell camping products, keywords you may use are “affordable camping gear” or “cheap flashlights” etc. You will set the maximum amount of $ you are willing to spend for someone to click on your ad. Google Analytics can help you find this target number. Your product will now pop up at the top of google when that specific keyword is searched. Paid Search Ads are marked by a small “Ad” next to the website.
Display ads are the ads that pop up on the sidebar whenever you go on a website. The process of posting a display ad is similar to a Paid search ad, however, Google must approve your ad. This website outlines the rules for ads, following these requirements to ensure your ad does not get denied.
It's important to have an email list with any storefront you have. Bigcommerce suggests collecting as many emails as you can, whether it be from customers, potential customers, interested people, etc. Once you create this list you can send reminders for future product launches, promotions, discounts, etc. Keep a consistent flow of communication with your email list and even consider giving them special promotions to increase brand loyalty.
Speaking of promotions, offering discounts or other promotions is a great way to attract the most sales to your business. Oberlo.com found that the #1 reason people shop online is free delivery. By making it seem as if you are saving customers money, you will see an uptick in sales.
Boosting Your organic social presence will help you market your product. Include clear and eye-catching content of your product. Once you have your social media up you can pay to advertise and promote your products to your target market. Overall it's a great way to interact with your customers and ensure they are up to date on your business.
Gather and Promote Product Feedback
Knowing the highs and lows of your product is imperative to succeeding in your business. If you have a product that is not doing well, you should figure out why and fix it. One way you can do this is by sending out surveys to customers, especially your email list. Feedback boxes on your website are also a great alternative. Another great way to get feedback is simply just reaching out directly to your customers. Utilize both good and bad feedback/reviews. Use good reviews to your advantage by posting them to your website/socials. Use the bad reviews as an opportunity to show exemplary customer service and fix the issues you have.
Marketing is a key aspect of scaling your business, but can often be an afterthought to business owners with tight budgets. Instead of pooling from your personal funds or giving up equity, use an eCommerce lending tool to get the cash you need. Companies like Onramp are designed to provide you with the capital you need at attractive rates. We can provide you with the cash and guidance you need to successfully follow these tips and grow your revenue.