The Top eCommerce Marketing Strategy to Improve Your Store’s Profitability
The Top eCommerce Marketing Strategy to Improve Your Store’s Profitability
Attracting customers to your online store can be tricky business – but it doesn’t have to be. And, it doesn’t necessarily require spending a ton on eCommerce marketing either.
The online nature of running an eCommerce store means that you have countless ways of reaching out to draw in more customers, and many of them are quite affordable or even free. If your eCommerce marketing strategy has been limited up until now, this is the time to diversify.
Have a look at these top eCommerce marketing strategies and start generating more traffic (and more profit) to your online store!
1. Step up your social media marketing
When it comes to eCommerce marketing, it’s essential to incorporate social media into your broader strategy. There are plenty of different platforms for you to pick from, including Facebook, Instagram, Twitter, Snapchat, TikTok, LinkedIn, and more – so, you can choose the right platform for you to advertise on depending on the specific audience you’re aiming for.
Side note: More than one-third of the entire human population is active on Facebook every month. If you want to attract customers to your online store, Facebook is full of potential buyers!
People who shop online are naturally spending more time on their computers or smartphones and, more likely than not, more time on social media. That time spent on social media platforms can be put to good use, and the big names like Facebook and Twitter know that full-well. That’s why they offer online businesses like yours the ability to advertise on their platforms! Instagram even allows eCommerce selling on its platform.
Bonus note: Whether you’re planning on running ads on Facebook, Google, or any of the other top ad platforms, you can track and analyze the profitability of your ads with BeProfit Profit Tracker, an app that turns all of your shop’s complex data into super easy-to-understand charts and graphs, so you don’t miss a beat. No more messy spreadsheets or bouncing around from one platform to the next to look at everything.
2. Engage in email marketing
Sending out promotional emails to attract business might seem outdated, given the huge advancements made since the invention of the plain-old email. So it might come as a great surprise to learn that email marketing continues to be the number one form of digital marketing in terms of ROI, with a whopping 122% return.
In case that wasn’t clear – yes, email marketing outperforms social media marketing and paid search. It’s a wonder more people aren’t referring to email marketing as the “old-faithful” form of marketing!
It’s not such a dry form of marketing when you take a closer look and learn a bit more about it. In fact, email marketing can be even more flexible than social media marketing in terms of the ways that you can get your audience engaged with content. You can even target your audiences with localized email campaigns in different languages, or offer different promotions based on big sales throughout the year, like Black Friday or Singles Day.
3. Investigate influencer marketing
This is one of the newest forms of eCommerce marketing out there, and it’s quickly becoming a more popular way for online sellers to attract new customers. In fact, in 2019, two-thirds of marketers had increased their influencer marketing budgets. So what’s the big idea behind influencer marketing? Basically, you look to find an individual on social media who has a big audience and then pay them to promote your store or your product on their channel. Different countries have their own popular influencers, so make sure to team up with one who can bring you the right consumers in your target market.
Sounds like wishful thinking to you? Just check the stats! Roughly 60% of YouTube subscribers say they’d follow advice on what to buy from their favorite creator over their favorite TV or movie personality. And almost 90% of marketers say that the ROI on influencer marketing is as-good or better than other marketing channels. Doesn’t sound quite so silly now, does it?
4. Maintain an informative and useful blog
Writing blogs is another one of those digital marketing strategies that just feels – dare we say it – old. And while it might be true that blogging is a bit like the rotary phone of online communication, it still gets your message across (heck, we’re doing it right now, and you’re proof that it works!).
In fact, writing a blog is one of the fundamental aspects of maintaining a strong spot in search engine results. If you want potential customers to find you when they search for a certain term on Google related to what you sell, then you’ll want to make sure your blog game is on point. That means researching keywords that your audience is interested in and weaving those keywords into blog articles that provide useful information to your audience. Translating your blog posts can also improve your international SEO and increase your visibility in languages across the globe, earning you more customers in every market.
5. Use cart abandonment reduction strategies
Recovering abandoned online shopping carts might seem like an odd strategy to include on this list, but stick with us here. Reducing shopping cart abandonment should definitely be high among your business priorities – almost 90% of all online shopping orders were abandoned in March 2020, and that’s not even the high-water mark for online cart abandonment rates. Don’t underestimate the impact this can have on your business!
Plus, reducing shopping cart abandonment isn’t really a separate thing from your broader eCommerce marketing strategy. In fact, a strong approach to marketing is one of the best ways to reduce cart abandonment. Marketing isn’t just about bringing customers in, it’s about establishing a brand that they come to trust and rely on. Developing a reputable online presence will help bring customers in and keep them there to make a purchase.
6. Design landing pages that convert
Not all forms of online marketing involve actively reaching out to potential customers. There are tons of benefits your online store will see after you invest a bit more time and energy into optimizing your shop’s landing pages, so when people come to you, they’ll quickly go from reader to satisfied customer.
Maybe the biggest benefit is that better landing pages may end up producing more revenue for your store. One study found that, compared to product detail pages (PDPs), landing pages actually have double the conversion rates and generate twice as much revenue.
7. Build a knowledge base and write FAQs
A large part of creating a successful eCommerce marketing strategy is knowing what customers want to hear before they ever ask. While advertising is one way of putting that into action, another incredibly helpful way of achieving that goal is to create a knowledge base where customers can get answers to all of their questions.
Beyond the obvious advantages of being able to filter out a large portion of the never-ending flow of questions your support channel gets, creating a knowledge base also helps with your SEO ranking (if you incorporate keywords), and contributes a great deal to your store’s reputation as a business that cares about its customers. This is another place to easily incorporate localization, translating your help articles so customers can find answers to questions in their native language and will be more likely to complete a purchase.
8. Find competitive pricing strategies
Last but not least, putting competitive pricing strategies to good use can make a big difference to your online marketing performance. There’s a wide variety of different pricing strategies you can use, including:
- Value-based pricing
- Cost-plus pricing
- Psychological pricing
- Penetration pricing
- And more
The best pricing strategies to include in your marketing plan will depend on a number of different factors including how long you’ve been in business, how much competition your store has, the operation costs that need to be covered, your target locales, and so on. Of course, one of the main goals of choosing a pricing strategy to fit your marketing plan is to draw in more customers. That being the case, you may find that penetration pricing or psychological pricing will work better than pricing strategies like skimming or cost-plus pricing.
As is often the case, you’ll need to do some research and trial-and-error before you finally find which pricing strategy brings your business the results you’re aiming for.
Try new online marketing methods
While you might be already using some of the strategies we covered above, we’re fairly certain you aren’t using all of them. Give those less familiar methods a run and see what sort of positive results you find. Some may be better than others, and it may take a little while to separate the wheat from the chaff.
Building a strong global eCommerce marketing strategy isn’t an exact science, so you’ll need to go into the project with an open mind and plenty of patience. At the end of the day, the progress you make will reflect the time and effort you put in. Go for it!