When your business has plateaued in sales, it’s time to scale your e-commerce brand for continued growth. Before running headlong into launching on a new platform or into new territories, it’s best to lay the proper foundations and learn all there is to know about scaling your e-commerce brand. Once you’ve got your map, it’s time to get to work on reaching new customers online, in new marketplaces or with innovative new products that solve customer’s problems. Scaling your e-commerce business is a process with multiple steps that we’ve detailed for you below.
Start With The Right Tools for E-Commerce Growth
The idea is to build upon the firm foundation you’ve already laid in getting your business off the ground and profitable. That means upping your business’s capacity without dramatically increasing costs. One of the best ways to do this is with the right technology. There are so many e-commerce tools available it can be difficult to decide which will be best for your vision of growth.
Start with a clear vision of what you want to achieve through the scaling of your brand. You’ll need to:
- Look for ways to integrate existing systems with newer ones, or possibly migrate from what you are currently using to newer systems that will be able to automate some processes;
- Deal with a higher number of orders and interactions; and
- Consider project management software such as Slack and Asana to help you work with freelancers or agencies, if you opt to outsource to cover any new skillsets needed.
If you already have a website like nearly 60% of all software built websites on the internet, make sure it’s on Shopify. They are the obvious choice for e-commerce website platforms built for scaling your brand and selling your offering independently online.
Another common option is a third-party marketplace such as Amazon, eBay, or Walmart. The benefit of a third party marketplace is the additional reach you will get by opening your store with them. Millions of people use these e-commerce marketplaces as their go-to when looking for products they are ready to purchase. This works in your favor as you’ll gain immediate access to their market share. Whichever third-party marketplace you go for, choose one with a history of good support for sellers and buyers that you’re sure will be around for a while. Smaller, lesser known selling marketplaces can easily disappear leaving you without an outlet and arrested business development.
In some cases, it can be wise to develop your website into an e-commerce website with something akin to Shopify and open an e-commerce store with a third party e-commerce marketplace like Amazon. Be aware that if you choose this route, you’ll need integrative systems that enable you to keep an eye on inventory stock levels and shipping from all outlets.
Get The Word Out
Scaling an e-commerce business isn’t going to improve sales if you stay quiet about the changes. Marketing is imperative to keep driving customers to your virtual doors.
Create marketing content that connects with your customer at all points of their journey towards making a purchase–that’s awareness, consideration and their final purchasing decision. Aim to be helpful with your content and make it easy to digest so customers get the most from it. This will help be found along with boosting credibility with your target audience and search engines.
You’ll need to align your marketing messages and have a clear and individual brand voice to reach and retain your audience. It’s no use trying to sell to everyone; that equates to selling to no one. Do your research. Analyze your current data to help guide your digital marketing efforts and develop new strategies to reach the bigger audience you are aiming for. If your ideal audience is a large one, consider segmenting the audience for more personalized messaging that builds a meaningful connection. This is the basis of longer customer relationships and increasing the potential for returning customers.
A range of marketing tools can help you do this. Software that allows you to track audience behavior, nurture a community on social media channels, grow a subscriber list, and build targeted landing pages are going to be integral to getting your message out to the right audience at the right time. A lot of marketing software can help you to automate campaigns on social platforms, email marketing, or even PPC advertising.
Consider E-Commerce Trends
Things have changed a great deal since Amazon sold their first book online way back in 1995! If you want to stay ahead of the competition, you’ll need to keep up with e-commerce trends and take advantage of them.
Online shopping is one of the world’s most popular activities, showing almost hockey stick growth at 1.4 trillion in 2014 to an expected 4.5 trillion by 2021. Social distancing is only going to increase the desire to shop from the safety and comfort of our homes.
Mobile is a massive influence for e-commerce stores, around 73% of sales are expected to be made on mobile devices by 2021. Voice commerce, the ever growing and changing social media role in e-commerce, and environmental concerns are just a few of the trends that can help sway customer decisions in your favor, or towards your competition if you’re not aware of the fast changing landscape of e-commerce sales.
Keep Growing and Evolving
Business is a journey, not a simple destination. Once you’ve achieved the goal you set out for, it’s time to review, set, and journey toward your next goal. Rinse and repeat. One of the simplest ways to do this with an e-commerce brand is to utilize multiple selling marketplaces and platforms. Some may be well-known; others may be exclusive for a particular market.
Amazon, Walmart, eBay, and Etsy are some of the obvious third-party e-commerce marketplaces that can help you scale your own e-commerce brand. By opening up shop on one of these online selling marketplaces you are gaining access to a larger audience. Think of it as having a retail store in a very popular shopping mall. Higher foot traffic equals higher sales. It’s a similar story with these well-known marketplaces. What is common across all of them is the access to their loyal customers once you’ve opened your e-commerce store with them.
Once you’ve decided to sell on a third-party e-commerce platform, you’ll need to keep up with the trends for their platform too. Many will provide updates and marketing materials that make it easy to do so, but it can be difficult to keep up with varying platforms and marketplaces. An experienced digital marketing team, like Seller’s Choice, can help you effectively scale your e-commerce business and never miss a beat. Using a reliable team of professional e-commerce marketers ensures your efforts will be in the right areas to make sales and market share advance as planned.
With the right tools in place, a marketing strategy that reaches the right audience at the right time, and a third-party marketplace presence, your brand growth will be geared for success. Remember to keep up with the trends for e-commerce growth and to keep evolving as a business. The market will continue to change with time and so should your brand. The maze of e-commerce solutions shouldn’t slow your journey. If you start with a vision and methodically put in place all of the elements you need to achieve the growth your e-commerce business needs, you can’t help but thrive in the fast-paced e-commerce world.