You can build a better business, and the start of a new year is the perfect time to implement all those ideas you’ve had floating around in your head over the past few months. On this episode of Marketing For eCommerce, I explain 3 main areas in which you can grow that will allow your eCommerce business to flourish in 2019. Don’t miss a single idea – listen now!
Points of differentiation are essential to nail down before the New Year
What makes your business different from your competition? As 2018 wraps up, you have to be thinking about that question. The answers you come up with are your points of differentiation, and they explain why someone should choose YOU over everyone else.
#1 – Increase revenue by setting and documenting data benchmarks
Far too many eCommerce sellers rely on organic search engine traffic to drive sales. Can it happen? Of course. Is it the best way to increase profit? Absolutely not. There are a few main ways you can increase revenue in your business: lower costs, increase margins, develop host-beneficiary relationships, develop recurring back-end programs, etc. But the #1 way to succeed in 2019 is to set and track data benchmarks. No matter which methods of growth you pursue, you won’t know if you’re actually succeeding without tracking your work.
#2 – Develop these 4 areas of your business and watch your sales skyrocket
If you’re a regular listener to Marketing For eCommerce, you’ll recognize these 4 areas of growth every business needs to be taking advantage of. Here they are again.
- Generate and nurture leads
- Convert more customers
- Increase your average order value
- Increase a customer’s frequency of purchase
No matter what you sell, spending time on each of these 4 areas will allow you to build a better business and enjoy greater success. For the full story on how these areas can change your business forever, listen now.
#3 – Stop acquiring information and start investing insight
In today’s endless information age, data is everywhere – and the vast majority of it is free. But don’t let yourself become obsessed with and bogged down in collecting information. It only leads to paralysis in creative thought. Rather, spend time investing the insights that you already know. You’ll be amazed at the progress you can make in building a better business if you simply sit down and apply what you’ve learned throughout your time as an eCommerce seller – rather than always paying attention to what everyone else is doing.
Outline of This Episode
- [0:34] Start thinking about how you can grow and flourish in 2019
- [1:37] You have to be asking why people are choosing YOU over your competition
- [3:55] How will you increase revenue and profit in the new year?
- [10:34] Focus on these 4 things, and your business will grow
- [12:26] Stop acquiring information and start investing insights
Resources & People Mentioned
- Ep 36, “Leverage Host-Beneficiary ECommerce Relationships To Get More Clients”
- Ep 37, “Here’s How To Differentiate Your Business To Make More Sales”
Connect With Bryan Bowman
- On Facebook
Subscribe to Marketing For eCommerce on iTunes