The eCommerce industry is exploding over the last few years with double digit growth still the prediction for many years to come. This has lead to a dramatic increase in new merchants entering the industry for their change to cash in on the eCommerce gold rush.
The trouble is however, if you’re like most merchants your results haven’t quite been what you hoped for and your sales have been plateaued for months. If this sounds familiar don’t despire because in this post I’m going to share with you the 3-step growth process that have seen my clients grow their eCommerce businesses by over 312% year on year.
So without further ado, lets get into the 3-steps to dramatic eCommerce growth.
Step 1: Build Your Business On The Right Technology
As an eCommerce merchant your entire business literally revolves around your website, which is in many cases the weak link. Most merchants when they start online will build their sites on a SaaS platform such as Shopify or BigCommerce to keep costs down.
This is a wonderful strategy to test your concept and to get some momentum in your business without a large capital outlay. However as your business grows you need the power of a more versatile, robust and customisable platform. This will give you the ability to fully integrate your website a the center of your eCommerce operations saving you time and effort on a daily basis.
I recommend Magento 2.0 or Magento Enterprise as the platform to use to grow your business. They both offer unlimited capabilities for customization, integration as well as upgrades. The largest difference is Magento Enterprise has an annual license fee which is generally worth if for businesses doing over 7-figures a year online.
The biggest reason why many don’t start with Magento is because of the level of support that it requires to get started. This is easily overcome by working with an experience Magento agency who can provide you with on-going support.
Step 2: Get The Right Marketing Team & Strategy
Once your website is ready for growth, the second step is to get the right marketing team and strategy on your sire. This is often a difficult task as most agencies will promise the world but will deliver very little. That is why I suggest asking these 17 questions before hiring an agency.
When you do find a quality agency that you want to work with, its important that you put together your strategy that plays to their strengths.
To begin with I’d suggest that you avoid pouring your budget into Social Media, but instead focus on revenue optimized marketing such as SEO, Google Adwords and later down the track Conversion Rate Optimization.
It’s quite common that you will find a specific agency for just your search marketing needs, and another for others like your content and design and such simply because they are entirely different skill sets.
Step 3: Leverage The Power of Scalable Growth
Once you start seeing growth in your business its time that you look at a plan to scale. This is where marketing methods like Google Adwords, Google Shopping and Social Media Advertising come into their own.
Because they drive a direct ROI, if optimized successfully you’ll know that for every $10 you spend, you get $20 of profit back as an example. Once you reach this point, the third step of growth is the leverage the power of scale and consistently increase your budgets on these platforms as long as you see a strong ROI.
Scalable growth isn’t just restricted to PPC methods however. Most SEO services are based around hourly work and can be scaled to an near infinite level. So if your SEO is generating a positive ROI, speak to your agency about increasing your investment with them.
It might seem like you’re always spending money to grow, however it gives you the most control over the growth of your business, and allows you to reach heights that you never thought possible.
So go ahead and get started today on your path to eCommerce growth in 2016. Your successful, profitable future awaits!