3 Important Ways To Diversify Your Ecommerce Store
One of the most interesting areas for an entrepreneur to get into right now is ecommerce. Which is also one of the most popular. Ecommerce enables online stores to cut out the middlem en and sell directly to their end consumers. Given consumers’ ability at this point to buy almost anything online, businesses are taking advantage of customer acceptance of ecommerce. Indeed, this model has flipped traditional industries on their heads.
But ecommerce is not always about success. The problem facing many would-be entrepreneurs in this space is that as each industry becomes crowded with ecommerce companies, diversifying their products becomes harder. That is where solutions like Oberlo come in. Oberlo is a plugin for stores that enables entrepreneurs to import hundreds of products within minutes. Diversification is crucial for any ecommerce entrepreneur, as starting an ecommerce store can be a struggle.
Are you looking for a way to increase your e-commerce sales? It’s worth taking a look at the channels you are reaching out for in your current campaign – the chances are there are new outlets you can add. Diversifying your digital marketing campaign is an easy way to find new customers and remind your existing customers of the great products on offer at your site. Digital marketing for e-commerce outlets needs to have a lot of variety. People use loads of apps and visit many different websites per day, sometimes deep into the double digits. You need a multi-pronged advertising scheme that will promote your e-commerce outlet from every angle possible.
You’ve come up with a great idea for a business, but you’re not ready to roll yet. Before you go any further, the next step is figuring out just who your market is. There are two basic markets you can sell to: consumer and business. These divisions are fairly obvious. No business—particularly a small one—can be all things to all people. The more narrowly you can define your target market, the better. Good niches don’t just fall into your lap; they must be carefully crafted.
Rather than creating a niche, many entrepreneurs make the mistake of falling into the “all over the map” trap, claiming they can do many things and be good at all of them. Smaller is bigger in business, and smaller is not all over the map; it’s highly focused. Here are the three important ways to diversify your ecommerce store:
One of the most important parts of starting any ecommerce store is connecting with the right customers. To make better advertisements and have higher conversion rates, you need to understand what niche your ecommerce store is targeting. So, think about where you’re from, what your products stand for, how your products are made.
For example, Original Grain, a growing watch company that crafts watches from wood, focuses its brand on sustainability. This enables it to definite a target niche within the millions of watch buyers worldwide. When Original Grain runs advertisements, its ads are focused. If, instead, it tried to target people outside its brand, chances are Original Grain’s conversion rates would suffer.
It always pays to have a plan. A sound digital marketing strategy is a good blueprint for both testing how effective your marketing ideas are, and being sure you consistently reach out online to your customers. Everyone looks online for answers. Be sure your e-commerce outlet is there to provide the solution by having a content strategy that pumps out new content. This ensures your site will get great search engine results, and that you are telling your customers why they should shop with you.
The biggest mistake ecommerce entrepreneurs make today is investing too heavily in inventory. Being an ecommerce entrepreneur is all about balancing your cash flow, especially when you have marketing, management and inventory costs. This is why ecommerce entrepreneurs have turned to drop shipping.
Drop shipping is an ecommerce strategy where a store doesn’t hold inventory. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product. This is an especially good idea for your e-commerce store if you have a lot of competitors or are selling in-demand products.
Often customers buy online because they want the best deal, so a price comparison website is the ideal way to drive your sales and put your company’s name in the minds of online shoppers.
AdWords will let you find out which keywords your audience are searching for, so you can optimise your site and help it get as high as possible in Google and Bing. It’s always worth a quick search on AdWords to guide your digital content strategy, whatever it may be.
Doubling On Branding
If you’re entering an industry already crowded with ecommerce stores, you’re going to need to invest in branding. Traditionally, branding has involved several touch points across traditional advertising placements, on billboards. Nowadays, brand touchpoints stem from social media. To increase your brand awareness, start investing in your social media presence. This means growing a large following, interacting with your followers and utilizing social media influencers who have a large following. This will validate your brand as one of the top ones in its respective market.
Ensure that your site has a voice across as many social media outlets as possible. You probably already have a digital marketing strategy for your company on Facebook, but the other big guns that you should include are Twitter, LinkedIn, YouTube and Instagram. Find out what sites your customers frequent and get a strategy happening there, whether they use Pinterest, Vimeo, Vine, Foursquare or Tumblr. Know your media and get a feel for each site and try to tailor your approach to each unique type of customer.
Most product testing either takes place in a central location or in-home. We use a central location when we need a controlled environment (we know exactly how products are served), or when time or product is limited. In-home testing is most realistic as respondents can try the product at a time and place that they normally would and have longer to consider it. Of course, there are situations where we would ask people to try a product in either location.
Make sure your content is what your customers want to see. Steer clear of tired cliches, and aim for excellence and a unique voice instead. Online shoppers tend to look around and do their research before buying, so you need to do something to stick in their minds. A great responsive website and quality content will help you achieve this. Though starting an ecommerce store is relatively easy, diversifying it from competitors is hard. That’s why it’s important to focus on a niche, test your products and double down on your brand. Try putting these strategies to work!