eCommerce is growing every single year. By 2021, the industry is expected to be worth approximately $4.88 trillion, which is around double what it was worth in 2017. There has never been a better time to open up an eCommerce store.
The problem is that with so much competition you can’t afford to make mistakes. That’s why we’ve provided you with some essential tips for making sure that your eCommerce store is a success.
Sell Hard-to-find Products
Opening up an eCommerce store, but don’t know what to sell?
The key to having a successful eCommerce store is to sell products that are hard to find.
The majority of the online shops that have what seems like an overnight success is due to them having the products that most stores are out of stock of or never seem to have available.
Not only will this bring you success, but you’ll also have a worldwide reach of customers.
Have you ever shopped from Wish or maybe you wonder why their store is such a success despite the long delivery times and not being run in the US?
This is because they have hard-to-find products, cheap prices, and they advertise products that solve a problem.
Solve a Problem with Your Products
There’s an old mantra that says you shouldn’t start a business; you should solve a problem. This mantra has some truth to it because the eCommerce stores that get advertising from word of mouth and have raving online reviews are stores that sell products that solve problems.
Think about the times you have purchased a product because of a Facebook ad or even when a Facebook ad promoting a product caught your attention. Even if you didn’t purchase it, you probably shared it to your connections because you felt like the product being advertised could solve their problems.
It’s All About the Branding
Branding is another key factor in running a successful eCommerce store. The good news is it doesn’t have to be as hard as you’re probably imagining either.
Something as simple as custom boxes can make you stand out from the competition.
Research your target market and figure out who they are, their habits, and what they want to see. Then tailor your branding towards that.
Something as simple as consistent branding across multiple platforms can increase revenue by 23%.
Focus on Repeat Customers, Not New Customers
Concentrate not on making a sale but on providing value for each customer. It costs much less for a company to retain a customer than it does to find a new customer.
Think long term.
Invest in Email Marketing
Data is everything and there’s no data more important to a company than an email address.
Being able to communicate directly with individual customers is the easiest way to create brand loyalty and repeat customers.
Sure, you may have to spend some money paying copywriters and graphic designers. However, email marketing can have a very high ROI when done correctly.
Last Words – Creating the Best eCommerce Store
These are the principles you should focus on from the beginning. They will not only guarantee sales but ensure repeat buyers that will buy every product you ever release.
What do you think is the most important tip for setting up a successful eCommerce business?
