It doesn’t matter what industry you are in, it is crucial to hack your growth and increase sales. Online e-commerce shops face the same problem.
There is no one-size-fits-all strategy for growth hacking your online shop’s performance. Many e-commerce websites are successful because they have a growth hacking mindset. They focus their efforts in the same direction and execute campaigns and tests to increase online sales.
Online shops need to harness the power of influencer marketing and social influence. Each industry has several influential people that customers can follow to keep up with the latest trends and updates. Ogilvy estimates that 74% of customers rely on word-of-mouth to obtain services and products.
Influencer marketing is a key factor in driving sales for online fashion and apparel stores. Collaboration with influencers can help you double your sales.
You can also create campaigns and share a review about your product via their social media accounts. This will help increase the visibility of your product and make your brand more visible to your followers. Influencer marketing has a higher level of trust than social media marketing, with influencers generating more engagement than brand pages.
FOMO is commonly used to describe the fear of missing out. The best-selling campaigns have successfully used this strategy. People don’t want their chance at something great, and it’s this fear that leads to high levels of engagement across social media platforms.
56 percent of customers worry about missing important events. Online stores can leverage this fear to their advantage. Your e-commerce website can be leveraged to create FOMO by creating urgency and promoting limited-time offers.
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Ad extensions can be a great tool for businesses that want to scale their ads on Google. Ad extensions allow e-commerce websites the ability to include relevant insights about their audience.
Your click-through rates will increase dramatically. Online shops should create creative ads that include more than just the URL and headline.
You can add the following to your website with ad extensions:
Online stores can use content marketing to build relationships with existing customers. It’s a proven marketing strategy that generates leads. But, many types of content may not be applicable to all segments. This is why an online store must analyze its target audience and focus on the user’s intent to purchase that topic/keyword.
Content marketing is only possible if you have a content upgrade that entices consumers and targets specific audiences. This can be done by sharing content upgrades on blogs that perform well or via your social media accounts.
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To grab people’s attention, e-commerce sites like Amazon and Flipkart often offer giveaways. You need to choose a product that appeals to a large number of people in order to successfully run a giveaway. This will increase brand awareness and traffic to your online shop. It also generates leads that can be used to improve performance.
Let’s keep this in mind and let’s get to the point. E-commerce websites have a lot of opportunities for customers to return, as well as new customers.
Customers often feel in judgment mode and are unsure if spending money is worth it. Many SaaS companies use onboarding programs to improve customer experience and make them feel more comfortable. Online stores also offer interactive walkthroughs of their websites to increase customer retention and education.
Customers are not just supposed to make purchases. It is about enhancing their experience.
To influence customers‘ purchasing decisions, brands use a tiered pricing structure. This is commonly known as a decoy pricing structure. Online shops can use psychology to price products. They may present several options, such as subscription models or more expensive menu items.
This is a great way to attract customers and get them to the middle-ground pricing, while other prices are used as decoys. Charm pricing is another psychological pricing technique that can be used to your advantage. Place a product between the products available, or in the middle.
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Online stores can use A/B testing to determine what works best for their business and which ones need to go away. This is a method that relies on trial and error and can be used to test the product pages in your online store.
Why are product pages so important? A product page is where a product can be sold on e-commerce websites. This method is best described as trial and error. Minor changes to the product page’s layout, design, images, fonts, and content.
Here are some common ways you can start A/B testing the product page.
Many e-commerce websites are focused on attracting more customers to their website. Instead, focus on catching customers as they leave your website. Exit-intent popups are a great way to do this. These pop-ups are a great way to catch visitors who leave your online store but don’t buy anything.
Exit intent pop-ups offer unique discounts to customers or ask them for their email so that you can bring them back through your sales funnel.
Your online store is more valuable to returning customers than new customers. These customers are more likely than new customers to add products to their carts and have lower bounce rates. These customers are also 2x more likely to convert. This is why it is important to make sure that they continue shopping on your site.
It might be worth sending buyers an email with a “buy back” message every ten to fifteen business days after purchase.
Emails to buyers can include a link to similar products or a URL from the product they bought earlier. Email marketing software should be used by eCommerce websites to create emails and to automate the sending of emails.
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To maximize retention and lower bounce rates and to generate leads and converts, you can use content marketing, FOMO, ad extensions and psychology while pricing products.
A few other growth hacks that can dramatically improve an online store’s performance include leveraging the power of influencers marketing and onboarding new customers through website walkthroughs.
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