Owners of smaller eCommerce companies (revenue less than 1 million euro/month) often ask us about how to develop a business. On the basis of observations of our fastest growing clients I have prepared a list of things in common.
These behaviors will help you overcome the barrier of 1 million euro sales per month. Many of our clients sells that much every day! 🙂
A dedicated team
You need a dedicated Manager, a person whose sole task will be to plan the eCommerce development. That’s the foundation. You also need to create technological competence base in your company. We suggest creating a single team with your IT supplier. This will ensure the transfer of know-how and highly efficient operation. It’s important for all employees of the eCommerce project to know that sales are going to be the most important measure of success.
If you’re building eCommerce within a larger organization, make the most of all the strengths of traditional business. Collection points and all omnichannel mechanisms that come to mind are exactly what will distinguish you from Amazon and other pure-players.
Acquiring new clients is expensive. Fostering loyalty is much cheaper. If you observe that clients are not loyal, you have to change the way they are acquired. It will be very hard to grow when you have to constantly gain clients again. Remarketing mechanisms and marketing automation are essential. Today more and more B2C eCommerce companies use CRM systems to personally take care of their 10-20% best customers. Some of our clients’ average cart of their top 20% customers
There is no effective marketing without numbers. You should have a single tool to observe the sales funnel. Nowadays, you can use Google Analytics (Universal Analytics). Optimization should be implemented in a series of weekly or two-week sprints. The whole funnel should be optimized – from acquiring new users through convertion to loyalization.
One thing you can do right now
Start from website analysis and setting up the A/B testing mechanizm to begin optimizing conversion rate. Contact us – we will be happy to advise you on how to approach the topic in your particular case.