How to Effectively Market Your Ecommerce Store for Maximum Conversions
How to Effectively Market Your Ecommerce Store for Maximum Conversions | JUNE 14, 2022
Ecommerce businesses have to put in a lot of hard work to get their stores off the ground. Aside from having an attractive and well-functioning website, it’s important to create a marketing strategy that will help you reach your target audience and convert them into customers. Let’s discuss some tips for effective Ecommerce marketing that will help you grow your business!
When it comes to marketing, one of the most important aspects is to create a sustainable and actionable marketing plan. This is imperative for Ecommerce businesses. Our favorite concept is called the TCE formula, also known as traffic, conversions, economics. This theory posits that in order to be successful, your Ecommerce marketing strategy should focus on generating traffic and then converting that traffic into paying customers. The economics part of the equation comes into play when you consider your customer lifetime value and acquisition costs. You want to make sure that you’re acquiring customers at a rate that is profitable for your business – and not a net loss. Growing your business is all about making sure that your Ecommerce marketing efforts are driving traffic and conversions while also being economically sustainable.
There are a number of Ecommerce marketing channels that you can use to reach your target audience. Some popular ones include Search Engine Optimization (SEO), Pay-Per-Click (PPC) Advertising, Organic Social Media Posts, Blog Posts, and more. The important part of traffic is finding quality traffic – the type of people that would want to buy from your brand. Once you’ve found them, it’s important to focus on conversion rate optimization (CRO). This is the process of making sure that your website and Ecommerce store are set up in a way that maximizes the number of visitors that convert into paying customers.
Conversion rate optimization (CRO) is one of the easiest ways to up your revenue when it comes to traffic. The industry average for CRO ranges from 1-4% but some Ecommerce businesses have conversion rates as high as 20%. Just by increasing your conversion rate from the industry average to 12%, you could potentially triple your revenue. If you’re not sure where to start with CRO, this is something we can help with from a PPC aspect.
Once your conversions start to increase your economics will also increase. Resulting in a higher ROI over time. A higher ROI will allow you to put more money into marketing and allow your total revenue to continue and continue to grow. This formula is a great way to 10x a stores revenue in the matter of months!
Ecommerce marketing is an important aspect of growing your business. By following the TCE formula and focusing on traffic, conversions, and economics you can create a sustainable and profitable Ecommerce marketing strategy! If you need help getting started or optimizing your Ecommerce store for maximum conversions, contact us today!
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