You NEED to Focus on These 4 Business Growth Strategies, Ep #28

In order to combat the distractions that threaten to tear you away from scaling your eCommerce business, you need to be focusing on these 4 business growth strategies. On this episode of Marketing For eCommerce, I walk you through the 4 main steps towards scaling your business and seeing higher levels of success. If you’re familiar with the 80/20 rule, you’ll know that 80% of your success comes from 20% of your energy. Your energy needs to be focused on these strategies every day if you want to see your efforts pay off. Be sure to give this episode your full attention – you won’t want to miss a single detail.

Strategy #1 – Search for and acquire great leads

You need to be searching for and acquiring great leads – every. single. day. If you’re passively relying on cold leads to simply fall into your brand’s messaging, you won’t be able to quickly scale your business. The best eCommerce professionals are asking themselves, “How am I generating and nurturing leads today?” In order to do this, consider leveraging multiple methods of lead acquisition. Don’t stop at basic Facebook ads! Don’t be afraid to delve into Google AdWords, email campaigns, Instagram story marketing tactics, etc.

Strategy #2 – Convert those leads to customers

Once you’ve acquired those leads, you need a focused process that will turn that lead into a customer. Remember, it’s always cheaper to convince a prospect to buy than it is to acquire a new prospect. If you don’t have a set system in place to achieve this, start here!

Strategy #3 – Increase your average order value

Everyone knows there are three basic ways to make more money from your eCommerce business. You have to get more customers through quality leads, get those customers to buy, and then get them to buy even more. By increasing the amount of profit you make per sale, you’ll save money on having to acquire more customers that commit to smaller sales. For more information on how to increase your average order value, and to hear about 3 great strategies that’ll help you do just that, check out episode 9 of the podcast.

Strategy #4 – Increase your customers’ frequency of purchase

Finally, increasing your existing customers’ frequency of purchase is one of the best business growth strategies you should be focusing on. Why spend more marketing dollars on acquiring cold leads, when you have a warmer audience that’s already bought into your brand? Most eCommerce businesses don’t have a marketing strategy that retargets former customers, but if you spend the time on developing this type of strategy, you’ll be able to blow your competition out of the water.

Outline of This Episode

[0:30] Avoid distractions, focus your energies, and watch your business grow
[4:16] #1 – Search for and acquire great leads
[6:43] #2 – Convert your leads to customers
[8:21] #3 – Increase your average order value
[9:17] #4 – Increase your frequency of purchase

Resources & People Mentioned

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