Conquer 2023 With These 9 Growth Tips for Your E-Commerce Business
As a business owner, now is the perfect time to refresh your marketing strategy and figure out how you can get a jumpstart on e-commerce growth tips for 2023.
You finally made it through the holiday season and you’re just a few days away from ringing in the new year. If you’re still working through your strategy or looking for new marketing tactics, these 9 growth tips for e-commerce businesses in 2023 are the perfect place to start.
- 80% of business owners reported that hiring influencers is an effective marketing tool
- Implementing an effective content marketing strategy increases brand awareness, educates audiences, builds credibility and enhances customer loyalty
- 86% of buyers are willing to pay more for a positive experience
- Prioritizing the happiness of your employees will strengthen your team, increase customer delight and scale your business
Reaching your audience, building a loyal customer base and increasing your conversion rate in 2023 is simple with these 9 e-commerce growth tips.
E-Commerce Growth Tips For 2023
Ready to tackle the new year? Implement these e-commerce growth tips into your content marketing strategy and finally achieve the results you want to see in 2023.
Hire an Influencer
One way that e-commerce business owners are reaching their target audience faster is by hiring and working with influencers on social sites like YouTube, Instagram, and TikTok. In fact, 80% of businesses find hiring influencers to be an effective marketing tool.
Image Source: Smart Insights
Reaching people through organic posting and social advertising is becoming increasingly saturated and expensive. As a result, more brands are choosing to invest their advertising dollars in other ways.
Consumers put a lot of trust in other people when it comes to making purchasing decisions. When deciding whether or not to buy a product, they turn to their friends, family members or even strangers who have already purchased the products before them.
Hiring a well-known influencer to provide you with direct access to your target audience will help boost sales and grow your loyal following.
Build a Video Marketing Strategy
Video has become an increasingly popular marketing tactic to invest in and it’s predicted to be even more valuable in the year ahead. Consider the following facts about the popularity and business case of video from Buffer:
- Over 8 billion videos or 100 million hours of videos are watched on Facebook every day
- 10 billion videos are watched on Snapchat every day
- 55% of people consume videos thoroughly — the highest amount all types of content
- 4 in 5 millennials consider video content when researching a purchase decision
- 4X as many consumers would rather watch a video about a product than reading about it
The right video can do wonders in helping you differentiate from competitors, boost brand awareness, connect with target customers, and sell more products—it’s all about having the right idea and the right strategy in place.
Learn how other e-commerce brands are using video to grow their businesses and start creating content for your business today by reading more about growing your audience with video content and video marketing best practices.
Optimize Sales & Customer Support with a Messenger Bot
As e-commerce experts look for new ways to communicate directly with customers, many have already implemented 24/7 access to customer support via messenger bots. Among 24/7 availability, there’s several other benefits as well.
Image Source: Reve Chat
As more people adopt chatbots as a marketing tool, new software is being introduced that can help brands reach and communicate with their audience at scale. Messenger bots make it easy for businesses to initiate conversion-based sales, marketing strategies and customer support.
Collaborate with a Dream Partner
Another one of the best e-commerce growth tips for 2023 is to collaborate on a product with a like-minded partner that shares your values, mission, and focus.
You might be thinking to yourself: a product collaboration will take A LOT of time– and you’re right. That’s why it’s important to get started as soon as possible!
To find the right partner to collaborate with, follow these steps:
- Step 1: Make a list of the business owners you know personally or through a connection, and the dream partners you’d love to collaborate with. Compile contact information in a Google spreadsheet. Again, try to think of products that serve a similar audience as you, or sell products that would complement your own.
- Step 2: Think about what kind of collaboration you’d like to propose. Have a few ideas in mind, but don’t worry about making anything too official. Having a few rough ideas can help get your foot through the door and the person you’re reaching out to is interested in talking more.
- Step 3: Reach out to a few companies from your list, and work to finalize a collaboration partnership. Decide on an idea, set specific goals and budget, and build your timeline.
- Step 4: Put a clear launch and marketing plan in place. Make sure that you and your partner are both doing the heavy lifting (and spending) when it comes to promoting the collaboration to your audiences.
After landing on a concrete plan, it’s finally time to launch. Working with a brand that aligns with your own values offers many learning opportunities and room to expand your audience.
Refresh Your Content Marketing Strategy
In 2023, content marketing and creation will continue to play an important role in every e-commerce business owner’s marketing strategy. If you didn’t have a clear strategy in place in 2022 or didn’t stick to it, consider spending some time reviewing and revising your strategy for the new year.
Implementing an effective content marketing strategy enhances brand awareness, educates audiences, builds credibility and increases customer loyalty.
Image Source: Visme
To get started, read through these two resources:
Start by creating a content marketing strategy for the first 90 days of 2023. Set clear, hard-to-reach goals, determine your budget, and determine your key players and stakeholders. Then, it’s time to manage and execute your plan.
Reward Your Best Customers
To kick sales and product awareness into gear right away in the new year, consider rewarding your customers with small gifts in the first few weeks of January. The purpose of the gift is to thank your customers for their support. The goal is to get them talking about you and buying from you again.
Types of gifts include:
- A restock of their favorite product, or one that they order regularly
- A free sample of a new product that you’re getting ready to release
- A handwritten thank you letter with a gift card or promo code
- A customized or small-batch VIP product that no one else will have the opportunity to purchase
Customer delight can be an incredibly powerful and effective way to grow your business. In fact, 86% of buyers are willing to pay more for a positive experience.
Image Source: Super Office
All you need to do is put a plan in place and execute it as early in the year as possible. Come up with a gift idea that you can send to a small group of your best customers. Package it and send it out before the end of the first week of January.
Validate A New Product Idea
If sales slumped over the last few months of the year, or if sales have never been better, it might be time to consider introducing a new product. Before you invest too much of your time and money, however, it’s important to try to validate your idea.
The easiest way to do this is by creating and launching a product page that allows people to pre-order your product. By launching a pre-order product page, you’ll not only find out how interested your audience is in your new product idea, you could also fund much of the production costs with the pre-order sales that come in.
Think about a new product that you could sell in your store. Create a landing page or pre-order product page to send people to. Send traffic to your page by creating new, high-quality content, launching social media ads, and sending personalized email campaigns to segments of your audience that you think would be most likely to purchase.
Value Your Employees
The 2020 pandemic caused a shift in work mentality and triggered the “Great Resignation”, driving many people to quit their day jobs. Companies across the country are struggling to satisfy their employees as many opt out of high-pressure positions.
In 2023, take time to rethink your employment model and brainstorm how you can show your employees that you value their time and effort. Rewarding your team, providing regular feedback and creating a positive work environment are great ways to show your employees you care.
Acting as a positive presence in the lives of your employees will help ensure you have a strong support system as you work towards growth in the new year. To learn more about how happy employees can help grow your business, enjoy the short video below.
Video Source: Business Insider
Adopt an Always-Testing Mentality
One of the biggest ways to boost sales and growth in 2023 is to simply adopt an always-testing mentality when it comes to your business and growth strategies. If you continue to execute the same strategy that you did in 2022, it’s not likely that you’ll see much more growth.
Instead, you need to be willing and able to test new ideas throughout the year. Don’t be afraid to spend money or fail in order to land on the right tactics, because eventually you’ll land on the ones that make you the most money.
Create a list of tests and tactics that you’d like to try in 2023. Prioritize them based on cost and impact. Figure out which tactics you’d like to try in Q1, then get to work!
Grow Your Business Today
With these e-commerce growth tips for 2023, you’re one step closer to reaching your target audience and building a loyal customer base. Perfecting your content strategy and connecting with consumers consistently is one of the best ways to grow your business.