With tough competition in the form of Amazon and bigger retailers getting smarter and smarter with their digital marketing it can be hard to continue the growth trajectory that many eCommerce stores have achieved over the past few years.
However with the right growth ideas and a relentless focus on testing these ideas at speed and scaling the successful ones you can still outpace any growth your competition achieves.
To help you grow your eCommerce business this year I joined forces with the team at Omniconvert and 18 eCommerce experts to provide our very best growth ideas that you can take and apply to your business.
This article also appeared as a guest post on Small Business First.
Amazon launching into Australia is a big deal in the retail world and for months there’s been hundreds of news article about how it’s going to kill a lot of brands in Australia.
On one side these articles are right – department stores and supermarkets that sell other peoples brands, like Harvey Norman for example, are going to face increased competition and margin pressure.
On the other side, however, is the brands themselves, and far from signalling the death of these brands, Amazon’s launch is a big opportunity, similar to the early days of Search Engine Optimisation.
Read on to find out why and to learn the 7 key tactics brands should focus on to take advantage of this opportunity.
Amazon Marketplace is a service that thousands of businesses around the world have signed up for, which allows brands to list their products directly to consumers on Amazon.com (alongside Amazon’s own products) for a small fee. The brand can either organise shipping, returns and customer service themselves, or they can take part in Fulfilment by Amazon – a service that allows companies to ship their items in bulk directly to Amazon and for a fee, have them take care of everything.
Watch out Google Shopping… Amazon’s advertising business is growing fast!
Estimates have put their ad revenue at $2.1 billion in 2016 and forecast that it will hit $3.5 billion in 2017.
This means Amazon’s ad business is closing in on third place globally behind Google ($80b in 2016) & Facebook ($27b in 2016) and whilst it’s miles away, their platform is still not available in all countries!
This article originally appeared on Web Profits blog
If you run an eCommerce store, you are likely finding it harder and harder to increase sales and make a profit from advertising online. Competition is pushing cost per clicks higher, organic search results are now dominated by big brands (and ads), Amazon is rapidly increasing market share, plus shoppers are becoming more astute and increasingly using comparison websites to get the best deal.
So what can you do? Well, you need to get innovative and find ways to increase your conversion rate significantly. If you do this, you can afford to pay more for traffic than your competitors (and still make a profit) and therefore you’ll be able to bid aggressively on less targeted (and higher volume) traffic and networks. The result? You’ll capture the lion’s share of the sales in your market!