Many people make the mistake by thinking running an e-commerce website store is the easy and fast money-making business. They forget the fundamental process of market research before setting up their stores. You might have good business ideas or products, but are customers willing to buy your products.
My first advice you need to run market research to determine the following:
- The viability of the products in the market.
- Target market group location.
- The price they are willing to pay.
- Your competitors in the market
The answer to the above will give a clear picture of if your products are needed in the market and who will be your target market. You can build your marketing plan using the above information. Here are some of the marketing strategies you can use to increase your conversion rate for your website and eventually make some sales:
1. Social media - people spend more than 20% on a social media pages such as Facebook, Instagram, Twitter, Pinterest, etc. It will be in your best interest to create accounts on social media sites and utilize this free opportunity by post information about your business, products, and sales offers.
2. Blog Posting - People like reading about products before buying them. Integrate a Blog into your website that you will use to inform people about your product uses, new product arrivals, general information about your business vision and goals. The trick here is to post quality and informative content that will attract readers through consistent blog posting. Include some promotional materials such as sales, discount coupons, etc.
3. Referral links - Create referral links to promote local programs and offer incentives such as point accumulation or gift cards to your customers to refer their families, friends, etc.
4. Email Marketing - Create a subscription newsletter program that you will use to collect customers' emails. Use this email to promote your products through email marketing campaigns.
5. Offer Ideas: Offer to purchase incentives such as free shipping, discount coupons, loyalty cards, gifts, etc.
Those just the most cost-effective way to promote an e-commerce website.
I also advise you to invest in analytics software such as Threat Engagement Analytics (TEA) tools that will help you monitors your marketing campaign.