Running an E-commerce business is not for the faint-hearted. It can be exciting and terrifying at the same time. With almost every business opening a store online, the web is flooded with brands trying to sell their products to the consumers but the real challenge they face is making a sale.
A successful online business targets its audience accurately and generates sales for its store. A few tools and strategies of online network marketing allow your E-commerce store to thrive in the digital marketplace.
If you are unfamiliar with digital marketing strategies or are unaware of how to apply them to run a successful online business, then you are at the right place.
Without wasting another second of your precious entrepreneur time, I invite you to browse through the list of the most effective marketing strategies for your digital store and how to advertise your business in a proper channel.
Targeted Pricing is your Friend with Benefits
Set targeted pricing is an essential step for an E-commerce business that wants to increase sales. To explain this in easy words for people who are not marketers by profession.
It is a process of pricing your product according to its market value. You need to make sure you are not offering your products with an overpriced tag.
If the product is overpriced according to its market value, then the consumer won’t even hover their mouse on your item, which means there is zero chance it will end up in their cart.
To have a better understanding of the product’s demand in the marketplace you can take guidance from IP geolocation. It will help you analyze your website traffic and allow you to alter your prices according to your targeted regions.
Build an Email List and Earn More
Building an Email list is one of the most efficient strategies to run a successful online business. In my opinion, it is the most underrated tool in the digital marketing world.
It has the potential to grow incoming orders and help in focusing on targeting and retargeting customers.
Needless to say, it performs better than customer engagement through social media. It boosts click-through rates and the scope of gaining new customers by offering website discounts, special incentive newsletters and sign-up boxes.
Create Promotions on Social Media Networks
Social Media platforms are the most popular way to reach out to your target audience and make sales. Each social media holds a different audience along with its own pros and cons.
Customer engagement through social media is more effective compared to any other marketing tool. From PPC Ads to FB Ads, these social media ad campaigns showcase the promise to promote your business online while growing your profit margins.
As mentioned earlier, each social media platform has an altered audience. Such as Tiktok has celebrities and influencers promoting brands to their followers whereas Facebook and Instagram show more potential to make more conversions.
The best part is you are not by yourself in the rocking boat of these social networks. There are multiple free tools available online to assist you on how you can benefit from these online platforms.
Google Ads –The Mafia of the Digital Marketing World
If you are worried that you are not succeeding in generating sales or acquiring new customers on your digital store even after running numerous campaigns through the most efficient online network marketing portals.
Then I have some news for you! Up till now, you have been wasting your money and time my friend. Various social media platforms promise you to generate more sales for your business and bring in heavy website traffic. Innocent you, end up paying them a good amount of money in hopes of a large margin of profits pouring in. But to your disappointment, you only receive a few likes and only dead leads, with no conversions.
It is very important you advertise your business in a proper channel that not only brings in new customers and gives you an ideal report of incoming website traffic along with user behavior. This is where Google Ads plays an important role in increasing your sales and customer base.
Google Ads offers you a variety of tools that allows you to track the traffic of your website, consumer behavior, and conversions.
It also provides you with a free keyword research tool called keyword planner that helps you in searching an SEO-friendly keyword. Google Ads offers more flexibility to its users by allowing them to create detailed targeted Ads to generate more revenues for online businesses.
According to a survey out of the top ten online businesses, nine were actually happy entrepreneurs that ran Ads on Google Ads resulting in them earning a good amount of profit.
Retarget your Lost Customers
Even if you run PPC Ads, FB Ads, or Instagram Ads, these ad campaigns don’t promise you a sale from the customer. At times when a consumer is browsing your website, they sometimes tend to get distracted or change their mind about the products that they had added to the cart.
In order to retrieve the lost customer, there is a dodgy but effective process that you can follow. A lot of businesses use a tracking pixel that they load to follow customers onto another unrelated website and place an Ad for their business.
This might have happened to you as well. Have you ever had a second thought about a product while shopping on your favorite website and decided to leave it behind in the cart and when you move to another website you see an Ad from the previous website encouraging you to complete the process.
As creepy and stalkery it sounds, this technique allows your product to stay on customers’ minds and increases the chances of them coming back and making a purchase.
The Bottom Line
Running an online business might sound fun and looks as easy as a breeze but it has its own battles to fight when it comes to increasing traffic and sales to boost your business.
With the strategies mentioned above, you can at least start drawing a plan for success and lead towards a direction that can help your business to grow. There are multiple tips that you need to take into account when you are trying to run one of the most successful online businesses.
Tricks like upselling your product by offering an upgraded version of the already added item in the consumer’s cart can guarantee you an instant sale.
Offering freebies is another trick that can help you secure a sale and won’t hurt your business. By offering freebies, I certainly don’t mean you to sell things at a loss but to offer extra benefits like free shipping or free trials which can make your consumer remember your brand and turn them into a repeat customer.
The biggest benefit your business can provide to your customer is by providing them with multiple payment options As not everyone can afford to pay the whole amount right away. You can provide them comfort by allowing them to choose the suitable payment option for their wallet.
You can also give them relief by offering installment plans that let them buy their desired product with the ease of paying in small portions. Businesses that follow such tricks end up gaining repeated and loyal customers and often they are ranked under “Top ten online businesses”.