Rapid growth is a common goal among eCommerce brands, but achieving it is easier said than done. In today’s fast-paced and hyper-competitive digital landscape, eCommerce brands must remain nimble while embracing innovative strategies that help them cut through the clutter and drive business results. So, here are five core strategies for achieving rapid growth in eCommerce.
1. Focus on customer experience.
Customer experience is a foundational component of eCommerce. How can brands optimize for it? Embrace a customer-centric mindset—put the customer at the center of all decision-making, and use data to uncover insights that can help your business better understand customer behavior and preferences.
“The No. 1 thing that has made us successful by far is obsessive compulsive focus on the customer as opposed to obsession over the competitor.” – Jeff Bezos
This approach allows brands to deliver seamless, personalized, and enjoyable experiences that lead to increased customer loyalty, repeat purchases, and word-of-mouth marketing.
2. Invest in data and analytics.
Data and analytics are critical to understanding and improving the customer experience, as well as making informed decisions about marketing and business strategy. eCommerce brands need to invest in the right tools and talent to ensure their business will be armed with the key insights necessary to achieve growth goals.
3. Leverage social media.
Social media is a powerful tool for eCommerce brands to connect and captivate customers in unique ways. Brands must formulate a clear strategy that emphasizes the creation of engaging content, influencer marketing, and paid advertisements. Lastly, it’s important to remain open to experimenting with novel platforms and tactics to stimulate growth, as the social media landscape is in constant evolution.
4. Optimize the mobile experience.
Mobile devices have assumed an increasingly prominent role in eCommerce, amounting to nearly 42% of total eCommerce sales in the U.S. in 2022. Hence, the mobile experience is paramount. Every eCommerce brand must ensure its website is optimized for speed, effortless navigation, and a seamless checkout process on mobile devices.
5. Embrace influencer marketing.
Influencer marketing has emerged as a tried-and-true method to establish a connection with customers and can be especially effective in eCommerce. Brands must identify the most suitable influencers for their target audience. Additionally, they need to collaborate with their influencers to produce genuine and compelling content that strikes a chord with customers.
6. Focus on speed and convenience.
Speed and convenience are key components for eCommerce growth. Brands must prioritize site speed, create a seamless checkout experience, and facilitate easy product discovery to guarantee customer satisfaction. By concentrating on these factors, brands can establish a competitive edge and foster customer loyalty.
Closing thoughts
No strategy is a silver bullet in business. But the first strategy discussed—focus on customer experience—is as close as it gets for eCommerce brands, as the remaining five strategies all reflect a customer-centric approach:
Brands invest in data and analytics to understand their customers.
Brands leverage social media to connect with their customers.
Brands optimize the mobile experience because their customers are increasingly on mobile devices.
Brands embrace influencer marketing to reach their customers through relatable humans.
Brands focus on speed and convenience to eliminate friction for their customers.
Rapid growth is on the horizon for eCommerce brands that choose to adopt these core strategies.