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6 tips to grow your e-commerce business

  • Highlights

  • Growth prospects of e-commerce in India

  • Steps to hasten growth

  • Targeting customers and audience

  • New channels of advertisement

Not only is e-commerce in India predicted to grow seven times within the next two fiscal years by Morgan Stanley, but e-commerce sales are expected to be over $120 billion or approximately Rs.7,69,500 crore by 2020. Keeping this exponential growth in mind, e-commerce companies will have a bigger market share in the near future with huge opportunities for progress.

As an e-commerce business owner, here are some steps to hasten your growth.

1. Get influencers to do the marketing for you:

For an e-commerce business, social media influencers are like movie stars. They can help market your offerings in the way an advertisement can’t, and can appeal to your target demographic with just a few social media posts. For instance, a fashion blogger can help boost your fashion brand simply by wearing it, posting pictures and adding a review. So, start choosing influencers based on your audience and your product. You can even hire a firm which specializes in influencer marketing for your company.

Additional Read: Ways to advertise & market your small business

2. Offer customers content alongside your products and services:

One of the best ways to build interest and create trust inyour brand is by presenting interesting and engaging content. This could be in the form of text, images, videos or infographics that add value to your customer’s life. An online grocery store, for example, will be able to gain customer loyalty and more business, if the customers also get to see interesting recipes and kitchen tips on their website. If these recipes also contain SEO keywords, they will appear in search engine searches, creating more awareness of your brand and attracting new customers. Employ a firm specializing in content marketing for the best results.

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3. Micro-target your audience:

Your e-commerce business is a great candidate for selective marketing, which is exactly what micro-targeting is. It creates a psychological connect with your target audience by using consumer data and demographics. You can leverage social media like Facebook to target your audience based on demography, age, gender or interest. You can send personalized emails to your customers based on their specific interests and past buying patterns. You could also digitally market your product online, to someone who has visited your e-commerce platform before. Since this method involved analysing your customer purchase journeys and past shopping patterns, you may need to hire a firm specializing in predictive analytics and data mining.

4. Run an SEM campaign to create awareness:

With so many e-commerce websites out there, how does your firm stand out? Search Engine Marketing is a form of paid digital advertising that can give your business more visibility and leads for a fixed duration of time. For instance, an online customized gifting portal can run an SEM campaign around the local festive season for maximum conversions. Common ways to carry out SEM involves posting paid search ads, pay per click advertising or cost per click advertising. When done in a strategic manner, this type of advertising can reap great results. However, as SEM campaigns need to be run on a regular basis to have lasting impact, and can cost anywhere starting from a few lakh rupees per month, you may need to arrange for a business loan to fund this activity.

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5. Offer sales across channels:

While having your own e-commerce portal is the first step, ensure that you also offer your consumers other ways to buy. For example, your cosmetics brand could be sold on your platform as well as on your Facebook Shop page. You can be present on the sale pages or promotions pages of mobile wallets, and be available via an app. The more times your customers come across your brand, the more they will be inclined to buy.

Additional Read: How digital business owners can find success

6. Use videos to tell your story:

Since videos engage your audience more than any other form of media, it is high time for you to develop a strong video marketing strategy. Not only is video 600% more effective than print or direct mail, it also encourages website visits by more than 55%. Based on your audience’s likes and dislikes, their lifestyle needs, and your product purpose, you can create demo videos, how-to videos, expert-led videos, animated videos, or case study videos. These can help you tell your stories to your audience, and build a personal connection with them.

5 Tips to grow your e-commerce business

These methods are sure to increase sales and highlight your e-commerce business. Whether it is hiring a digital advertising company or redeveloping your website, whether you choose to create an app for your business or need an SEO team to work on digital content and Google AdWords, make sure you plan well and arrange for the requisite finances in advance.

Additional Read: Business areas that will boom in India

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