3 E-Commerce Marketing Strategies To Boost Your ROI – Electronic commerce, popularly known as ecommerce involves the selling and purchase of goods via the internet. Many changes have taken effect since the first ecommerce business came to life about 40 years ago. Of course, there have been a lot of advancements in terms of technology, with modern gadgets giving more people access to the online community. This has created more space for ecommerce brands of all types and sizes.
But as more entrepreneurs join the mix, the field becomes a lot more competitive with every passing day. Therefore, you’ll need to strategize your approach for you to maximize traffic and generate as much revenue as possible. All ecommerce hacks revolve around gaining advantage over your rivals.
Among the most popular digital tactics used today in this arena include social media marketing. This involves the creation of engaging content and the use of influencers to push a brand’s awareness. You can also hire a Facebook Ads agency to boost your visibility on Facebook and attract the attention of more prospects. Email marketing and SEO tools are other digital features that could come in handy.
This article discusses all the important tips you should keep in mind to boost your ecommerce business’ return on investment (ROI).
What is return on investment (ROI)?
Return on investment is the ratio between investment and net income. This is a performance metric used to measure the profitability of a business. The higher your ROI, the more efficient and profitable your investment. (1)
A good ROI according to most business experts is an average of 10% return rate per annum. So, if you invest $10,000 in your business, you should aim to generate at least $1,000 in profit every year. If your enterprise gives anything less than that, you might want to rethink your strategies or the whole business idea.
That said, here are some effective ecommerce marketing strategies to boost your ROI:
1. Secure the services of a digital marketing agency
There are many things you can do to increase traffic to your ecommerce business and generate as much profit as possible. However, most of the tactics you might have in mind are already being implemented by your competitors. For instance, posting your products on Instagram and Facebook has become a norm. Although this will help bring some customers, it might not give you the edge you need over your competitors, which is a crucial step toward boosting your ROI.
As such, it’s imperative that you do the basic things differently, and you can only achieve that with the services of experienced professionals. Hiring digital marketing agencies like Adacted will enhance your campaigns and make them more fruitful. With this move, you’ll be bringing new ideas to the table, which can have a huge impact on the outcome of all your marketing tactics.
Another reason to approach a digital marketing agency is the fact that it’ll give you access to the latest tools. Remember, such organizations are also competing with one another, and they always go for the most up-to-date technology to remain relevant in the market. You can take advantage of this competition and make use of the latest technology offered to you by the agency you decide to work with.
As you start looking for an agency, there are a number of factors that you must keep in mind. First, you’ll need to shortlist those agencies that show consistency based on the feedback from their previous or current clients. These reviews will give you an idea of what to expect from the company and see if that meets your needs. Another factor to consider is your budget. Find an agency that doesn’t only offer great services but also an affordable rate. With these tips in mind, you can select the ideal candidate for the job.
2. Create engaging content
Even with the help of experienced professionals, you’ll still need to have high-quality content on your ecommerce website and social media pages. In the digital marketing environment, this is the one thing that attracts visitors and increases traffic to your online shop.
It’s a perfect way of creating the desired impression of your product or service. For instance, if you’re in the art industry, you can take photos of your work or create entertaining video clips and post them on your social media pages or blog. Make sure whatever you publish is engaging so that your audience can either like, comment, or share with their friends. (3)
It’s worth noting that a huge percentage of consumers prefer learning about a brand through descriptive content rather than adverts. Unfortunately, most companies still invest too much on advertisement strategies that don’t bring the expected outcome. (3)
If you decide to create descriptive content, keep in mind that you have the very few initial seconds to capture the attention of prospective customers, especially now that competition has grown massively. Therefore, your content-–-be it a video or photo—shouldn’t only be eye-catching but also easy to understand and packed with all the information you wish to pass.
3. Email marketing
Another ecommerce strategy to enhance your ROI is email marketing. This is among the oldest digital marketing techniques and continues to play a vital role in the success of modern businesses.
So, how can you use emails to market your ecommerce brand and gain more customers? The first step is to create a list of contacts that you’d wish to include in your campaigns. You can do this by saving the emails of your previous customers or by collecting personal information from those who would wish to purchase products from you in the future. Facebook lead form Ads is a popular tool that you could use to generate this contact information.
Once you have your list ready, you can then curate marketing messages and send them to selected recipients. Whatever you send should be short, clear, and persuasive. You can use this tactic to update your customers on the products currently in stock or any upcoming offers. (4) Here’s a good article that you may want to read on email marketing: Best Small Business Email Marketing Campaign Ideas to Skyrocket Sales. Published by Tada, it’s a great article that will provide you with some deep insights about email marketing and how you can use it to improve your sales.
Ecommerce is a very lucrative industry, but you need to be strategic for you to have as high ROI as possible. Hiring a digital marketing agency, for one, will bring new ideas to your campaigns and give you an edge over your rivals. Other strategies you should consider are email marketing and content creation.
- “Return On Investment (ROI).”, Source: https://www.investopedia.com/terms/r/returnoninvestment.asp
- “Should You Hire A Digital Marketing Agency?”, Source: https://www.entrepreneur.com/article/412253
- “What Is Engaging Content And How To Create It.”, Source: https://neilpatel.com/blog/create-engaging-content/
- “The Ultimate Guide To Email Marketing.”, Source: https://blog.hubspot.com/marketing/email-marketing-guide
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