4 Ways to Grow an Ecommerce Business - 4 Ways to Grow an Ecommerce Business
4 Ways to Grow an Ecommerce Business
Here are four ways to help you grow your ecommerce channel in both the short- and long-term. These four tips you can use to help you grow your business in the short-term, as well as prepare for growth in the future.
1 Go global
Are you taking advantage of the ecommerce explosion? According to Statista, global ecommerce sales are expected to increase 246% to $4.5 trillion in 2021.1 From big box retailers to mom and pop shops, selling products or services across the globe can be a huge boost to your customer base and revenue. Offering international customers the ability to pay in their home currency (known as multi-currency conversion) can make your business even more attractive to buyers. With modern technology, a well-designed online storefront, the right payment processor and a good distributer, you are on your way to making the entire world your marketplace.
2 Maximize the micro-moments
If you’ve ever pulled out your smartphone in a store to check pricing elsewhere, you’re thinking like the consumer you are. "Think with Google" reports that 91% of smartphone users look up information while in the middle of a task.2 These are micro-moments where consumers turn to the web to watch something, buy something or discover something.
As a retailer, use insights you’ve gathered to anticipate customers’ actions and tendencies. Then develop a strategy to meet customer needs and keep them focused on your brand in these micro-moments.
3 Enhance your customers’ experience
Consumers expect simple, easy and holistic interactions with your brand, whether they are shopping in your store or visiting your online site. Create a seamless customer experience across multiple touchpoints (desktop, smartphone, kiosk, etc.), commonly known as “omnicommerce” or “omnichannel.”
A study by the Aberdeen Group revealed that companies with omnichannel customer engagement strategies retain on average 89% of their customers, compared to 33% for companies that do not.3 Consistent customer experiences can foster loyalty and set you apart from the competition.
Establish perks like personalized offers, easy in-store returns of online purchases and auto-populated payment data across devices for future purchases for loyal customers. You’ll benefit from learning more about your customers’ shopping habits across all channels and harnessing that data can help drive more business.
4 Make mobile a priority
Nowadays, almost everyone owns a mobile device (smartphone or tablet). In fact, most people research products and make purchases with their mobile devices, rather than desktops or laptops. By the end of 2018, Absolute Networks estimates that 70% of ecommerce traffic will be via mobile checkout.4
Ensure that your site is optimized for the mobile user to take full advantage of this evolving consumer preference. Consider the user experience on your site — think bigger text to compensate for declining eyesight and larger buttons that are easier to click — and, most importantly, incorporate a secure, ecommerce solution.