July 29, 2015

Posted by: Brad

Categories:

E-Commerce Businesses Are Growing, Are You?

If your business isn’t conducting business online, then the answer is probably,  “not fast enough".

 

With overall industry firms growing at a rate of 1 percent, and industry online firms growing at a rate of 33 percent, it may be time that you rethink your business’ marketing strategy.

 

Online research is the primary reason e-commerce firms are growing so fast. Consumers now conduct research online before making a purchase and oftentimes buy from one of the sites that they researched. Many firms are not prepared to handle an entire transaction online. 

 

If you’re like many companies, you probably perform some e-commerce transactions, but the vast majority of your sales comes from a brick-and-mortar location. That’s okay, but consider these statistics:

 

·        B2B e-commerce sales have more than doubled since 2014 from $305 billion to $780 billion in 2015. 

·        From 2015 to 2020, e-commerce sales will compound at a rate of 7.7% until it reaches $1.13 trillion in 2020.

 

B2C sales are growing at an alarming rate as well. Updating your online marketing strategy doesn’t sound so painful after all, does it? 

 

Updating a nonexistent or outdated online marketing strategy can be difficult, however; but simply letting your customers know that you have an e-commerce site is not enough. Online marketing is what takes a good e-commerce site and makes it great. The top firms are spending millions every year optimizing their search engines and buying for keywords that you can’t afford. So how can you compete?

 

1.      Stay true to yourself

Cliché? Yes, but knowing your strengths is what differentiates you from the competition.

2.      Start or update your e-commerce site

a.      You have to keep it easy to use: Choose your product, read the description, add to cart, and checkout.

b.      The price you see is the price you pay. Don’t have hidden fees at the end of the transaction process. If I’m buying a calendar for $19.99 I don’t want to see another $10 in charges. Now I’m unhappy, and I won’t be buying from your site. Shipping is not a hidden fee.

3.      Methodically think through your online strategy

a.      Start local and branch out.

b.      Be active and relevant on social media.

c.      Blog. Content is key. It’ll help your online ranking too.

 

A fancy e-commerce site is not going to magically boost your sales, but a great online marketing strategy will. Utilizing Google AdWords and Google Analytics effectively will bring your e-commerce site more traffic and lead to more conversions.

 

If your business is falling behind in the world of e-commerce, reach out to the Navitas Marketing team and we will get you started with a new online marketing strategy. We are certified Google Partners and experts in both AdWords and Analytics, and know how to stretch an online marketing budget to get the biggest return on your investment.

 

 

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