The volume of ecommerce growth you enjoy will significantly hinge on the platform you opt for. Merchants on Shopify will require a distinctly different strategy compared to those on Magento, BigCommerce, or WooCommerce. We’ve worked with online retail companies to develop effective ecommerce growth plans. Below are the top 10 strategies we’ve selected for you.

1. Artificial Intelligence for Improved Customer Engagements

A report from Emplifi revealed that nearly 80% of customers abandon a brand following just two unsatisfactory experiences. This leaves little room for error. As the owner of an online store, you might not directly engage with your customers, but to put it bluntly, not only will you not succeed but you won’t be in business long if you don’t communicate with them. There are numerous AI tools available that allow you to replicate the attention and commitment you would offer in a brick-and-mortar store.

We have prepared a report detailing the distinctions between the leading 30 hyper-personalisation solution providers.

Here are five strategies to tailor these tools for the best return on investment:

i. Develop a searchable help centre to address the most frequent issues customers face
ii. Incorporate chatbots or virtual assistants to reply to customer questions quickly
iii. Enhance your SEO to better understand natural language queries and popular terms
iv. Apply predictive models based on previous customer actions to suggest products
v. Apply these strategies to lay the groundwork for your AI-driven customer service approach.
vi. Establish a ‘can’ system to keep track of pre-written responses for customer support

2. Increase Average Order Value (AOV)

In contrast to conventional enterprises, boosting Average Order Value (AOV) for online retailers is relatively simple. For example, you can:

i. Offer ‘package deals’ and apply a discount to enhance the perceived value of the package
ii. Share/display content created by customers (such as reviews and endorsements) for social validation iii. Hyper-personalise your product suggestions to recommend higher-end versions of the same item
iv. Launch sales events with time limits to instil a feeling of urgency among buyers
v. Monitor the buying patterns of repeat customers and provide tailored rewards

3. Ecommerce Growth by Encouraging Repeat Purchases

Research conducted by SimplicityDX revealed that the cost to acquire a new customer for online retailers has surged by 222% over the past ten years. This increase doesn’t stop there. For every new customer you bring in, you’re losing $29. So, what’s the solution?

First off, you need to find the right equilibrium between the value a customer brings over time (Customer Lifetime Value, LTV) and the cost it takes to acquire them through repeat purchases.

Here are some strategies our research found effective:
i. Suggest products that are relevant to what’s in their cart.
ii. Give special deals to your top customers (like discounts on their favourite items).
iii. Add a page that suggests related, but cheaper, items.
iv. Offer coupons for items they might use in the future, free samples, and rewards points.
v. Implement a targeted system for sending push notifications and reminder emails.
vi. Develop a system for providing information after a purchase (like tips on using the product, video tutorials, etc.).

It’s also important to select payment providers that make the buying process smooth and quick. After all, the reason people shop online is for its speed and ease. Make sure your customers have the same positive experience every time they come to your website.

4. Ecommerce growth via Autonomous Marketing & Outreach

Many individuals lack appreciation that AI has enabled a move to autonomous solutions – with zero human involvement, instead of mere automated processes, and now enjoy massive additional revenue. Now critical to your outreach efforts, when it comes to growing an online store. Smaller companies often dismiss this approach, believing it to be too costly.

Meanwhile, bigger stores might believe, ‘Since we’ve managed without it, we don’t need it.’ However, they’re mistaken. From successful retailer’s experience, they’ve learned that autonomous marketing can significantly transform the landscape for online retail businesses. It can do so by:

i. Reducing the time it takes to see results by making essential operational tasks more efficient
ii. Improving the ability to target specific audiences by identifying clear characteristics and demographics iii. Gaining full control over the moments that trigger customer interactions to guide them through the buying process
iv. Streamlining the process of generating detailed reports to better understand the effectiveness of your sales and marketing efforts
v. Improving the process of nurturing leads through targeted campaigns and engaging content

The great news is that numerous apps and platforms are available to choose from. It’s important to note that starting small is perfectly fine. Begin with a tool that offers the essentials and then expand as your business grows.

5. Build Lucrative Influencer Partnerships

When it comes to suggesting products, 69% of individuals place their trust in friends, family, and influencers rather than direct advertising from brands. This suggests that influencers have the power to drive significant and steady growth for a brand. Many hold the view that when you engage an influencer, their followers are essentially your potential customers.

Even if you manage to convert just a small percentage of them, it’s a more efficient approach than trying to attract new customers on your own. Nowadays, there are various platforms available that allow you to explore the profiles of influencers and choose the one that aligns with your brand. The decision is almost whether you choose ecommerce growth or not.

However, keep these five guidelines in mind as you venture into these areas:

i. Concentrate on platforms that your target audience frequents
ii. Select an influencer who produces content that is relevant to your products or services
iii. Establish clear objectives for your campaign to optimize your return on investment
iv. Don’t interfere too much with their content to foster a positive, professional relationship
v. Engage with their content before proposing a deal to make a lasting impression

You’re never at a loss when you team up with someone who shares your brand’s values. This reduces conflicts over the types of content to be produced, prevents tension, and lays the groundwork for a lasting partnership.

6. Explore New Sales Channels like TikTok

TikTok stands as a formidable force in the realm of e-commerce, deserving of its in-depth conversation. Indeed, in 2023, it brought in $3.8 billion in sales from consumers alone, marking the first time a non-gaming mobile app achieved this feat.

As a platform for sales, TikTok provides:
i. Access to a vast audience of over 1 billion users who are active monthly
ii. High engagement levels thanks to its personalised content recommendations
iii. A greater chance for your products, ads, or content to go viral
iv. An increase in impulse purchases through its easy-to-use discovery tools and built-in shopping cart

However, there are several key considerations to keep in mind when integrating social media into your ecommerce strategy. For instance, it’s beneficial to utilise a planning and scheduling tool to spread out your content and maintain engagement over time.

Other effective strategies include: Maintaining a consistent brand image and tone across various platforms Incorporating content from users to enhance social credibility Installing specific buttons or links on your website to promote your brand Automating the sharing of products on social media platforms through integrations with Shopify, Magento, WooCommerce, among others.

7. Direct Customer Service Through Text & Chat

Your customers desire to express themselves, particularly when they encounter difficulties. At times, a chatbot alone won’t be enough. They require a genuine human to engage with and to actively address their concerns.

First, you might implement an automated reply system equipped with pre-set answers for the most frequent customer complaints. Should this not resolve the problem, you can then guide the user to a messaging platform.

In the process, it’s beneficial to:
i. Pose clear questions to pinpoint the issue’s origin
ii. Find a middle ground between personalized care and pre-written content to streamline the process – iii. Develop bulk interaction templates to speed up replies
iv. Set up a specific internal system to sort out urgent requests or inquiries
v. Point them towards other related messaging platforms for faster assistance

Most critically, it’s essential to manage customer expectations. Frequently, customers will request services or benefits that you’re unable to provide, such as a gift voucher or a discount. Offer them what you can, but nothing more, maintaining a courteous demeanour.

8. Apply Subscription Models for Ecommerce Growth

The subscription model has rapidly emerged as a favoured approach for online retailers. It’s now the go-to strategy for all major players in the digital goods and services industry.

The appeal lies in the fact that subscriptions offer:

i. A dependable, ongoing stream of income
ii. Higher customer loyalty compared to single purchases
iii. Predictability in future earnings
iv. More opportunities to attract new customers with different pricing tiers or plans

As an ecommerce business owner, you might consider these three common subscription models:

a. Subscription Boxes: A carefully selected assortment of items tailored to a specific audience
b. Subscription Discounts: Gives price breaks on frequently purchased items with a monthly subscription
c. Membership Programs: Gives special benefits to members with various subscription levels

9. The Power of Short-Form Video

A Hubspot analysis revealed that brief videos offer the highest return on investment compared to other types of content marketing. This presents a chance to enhance your online sales strategy. However, there are certain rules to follow. For instance, each platform suggests a specific length for videos.

Here are the suggested durations for some of the leading platforms:
i. TikTok: 11-17 seconds Instagram: 7-15 seconds
ii. YouTube Shorts: 15-60 seconds
iii. Snapchat Spotlight: 5-60 seconds

In addition, you should:
a. for vertical layouts for better visibility on smartphones
b. Clear of content from other sources or content with watermarks Include trending elements in your videos (such as quotes, filters, animations, etc.)
c. Display your products in action

The most valuable tip we can give is to closely monitor the current trends in social media. Observe the top creators and brands. After that, adapt their video formats and aesthetics while adjusting as needed.

10. Embrace Loyalty / Relevancy Marketing

Gaining customer loyalty is less highly ranked since the advent of AI, superseded by relevancy, heavily reliant on effective brand communication, managing community interactions, increasing engagement on social media, and more.

However, the simplest approach to achieving this is through implementing a robust loyalty scheme. And there are several key strategies when designing a loyalty scheme for customers:

i. Ensure it’s easily reachable and offers various ways to sign up
ii. Offer non-financial perks and rewards that align with your brand’s principles
iii. Recognise a variety of customer behaviour beyond just buying
iv. Offer a diverse selection of rewards (not just discounts)
v. Make the rewards truly valuable (1000 points for a dollar doesn’t resonate well)
vi. Don’t forget to choose an appealing name for the scheme.

This not only enhances the brand’s image but also makes the name more memorable and pleasant to say. Peaches and Lily, a beauty brand, serves as an excellent illustration of this. Their loyalty scheme, ‘Peach Perks‘, encompasses all the aforementioned strategies. The standout feature? Members are referred to as ‘peaches’. This clever play on the brand’s name and the phrase, “Well, aren’t you a peach?”

Ecommerce growth – Where should you begin?

There’s nothing wrong with concentrating on a select few of these tips and dedicating your efforts solely to them. Indeed, this is the recommended approach.

A customer loyalty program? It naturally aligns with a subscription-based model. Brief videos? They serve as a stepping stone to forming partnerships with influencers and discovering social media as a platform for sales.

You could try to grasp which strategies complement each other and which don’t. Essentially, choose 2 to 3 of these strategies, tailor them to fit your ecommerce expansion plan, and then progress to the subsequent set. This is the method to create a successful venture. We would highlight that a hyper-personalisation solution delivers AI, autonomy, relevancy, communication, AOV and indeed almost the entire list – all in one, which cannot be emphasised enough.