If you want to gain new customers and increase your revenue, you need to have a strong e-commerce marketing strategy in place. A targeted marketing strategy will help you attract the right kinds of customers and grow your income more effectively.
Because there are so many marketing strategies, it can be hard to know where to get started. This article will explain how to develop an e-commerce marketing strategy and give you some ideas to get you started.
How to develop an e-commerce marketing strategy
Many people are interested in learning about individual marketing tactics but fail to put together an overall plan. This is a mistake, because the plan is what will allow your tactics to work together to deliver results over time.
Follow these four steps to develop an e-commerce marketing strategy:
1. Outline your goals.
Before you can come up with a marketing strategy, you need to outline your goals for the year. What are you trying to accomplish? Here are a few examples of marketing goals.
- Boost traffic to your site
- Increase the number of repeat customers
- Add a certain number of new customers each month
- Expand your product lines
- Increase your overall revenue
Once you identify a broad one-year goal, try to get increasingly granular with your objectives. For instance, if your goal is to gain new customers, you might specify that you want to convert 100 new customers every month.
2. Identify your target market.
Once you’ve outlined your goals, it’s time to define your target market. You have to know who your ideal customer is, because it influences where and how you should focus your e-commerce marketing efforts. If you skip this step, you might miss crucial information about your target customers and the problems they face.
If you already have an audience, the best way to get started is by sending a survey. If you don’t have an audience yet, begin to define your ideal customer. When you’re researching your target market, identify the following demographics:
- Marital status
- Buying behavior
- Social media preferences
3. Research your competitors.
Next, identify your main competitors, and note their current strengths and weaknesses. This analysis will help you find opportunities to gain an edge.
Examine your competitors’ websites and the types of products they’re selling. How detailed are their product descriptions? Do they promote their business with a blog, and if so, how often do they post? If you sign up for an SEO tool such as Ahrefs, you can analyze your competitors’ traffic and see where it is coming from.
Competitor research is an ongoing process; continue to monitor what your competitors are doing so you can stay on top of changing trends in the marketplace. Sign up for your competitors’ newsletters, and follow them on social media. It’s also a good idea to purchase some of your competitors’ products to see what the customer experience is like.
4. Determine pricing and positioning.
It’s very easy for…
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