The Magento eCommerce development industry is no new participant in the web world. It has been around us for over a decade now and it has exponentially shown its expertise all across the globe. According to a report, 67% millennials prefer online shopping over in-store buying. While this one talks about buyers, in particular, another report shares global digital penetration, which has shown a constant increase and is expected to reach 65.2% by 2021, which indeed is a good hike in comparison to 60.2% in 2017.
This gleaming list of growth hack strategies didn’t benefit everyone equally. While the reasons every time differ, however, somewhere three points have always been unanimous. They are:
Knowing the concern isn’t sufficient and it’s the solution which is required to surpass market obstacles. Keeping in mind the same, here we would like to share 5 eCommerce growth hack strategies that can help you build your online business.
Go Viral: Ok, who doesn’t want to get the brand viral?? I’m sure everyone does and we indeed put efforts to gain maximum eyeballs. However, going viral isn’t an easy thing to crack, but it isn’t that difficult as well if planned and executed in right manner. Few recognized strategies under this category include availing freebies and incentives. Some of the popular examples of include Uber, DropBox, MailChimp etc.
Email marketing: This can be another way to interact and learn about areas of improvisation. As per a study, 77% consumers prefer emails for promotions, marketing communications, and other updates. While another research shows that personalized mailings had given 41% higher unique click rate and 29% higher unique open rates. The strategy is also known as drip marketing. The reason behind calling it drip campaign is that the mails drip into your customer’s inbox one after another.
Be unique: This is one of the most complicated and often misunderstood growth hack strategy. Misunderstood because, in an attempt to be unique, brands often end up irritating customers with messed up web design and user interface. When we say ‘unique’ we intend to highlight your unique traits. Look for ways to engage your audience with features and design which relates with both of you. It has been often noticed that while attempting to be unique with the Magento eCommerce development, they fail to keep the essence of their brand and target audience.
User retention: A report shares that acquiring new customers is seven times more expensive than acquiring a new one. Hence, in the coming year eCommerce owners will have to keep user retention on utmost priority. Not only this will help you save your money, but will also help you gain user loyalty, eventually a long-term bond with your users. Strategies like re-marketing/targeting often drain away not just money but also the time of your resources, which can be utilized in building and implementing other important growth hack strategies for your Magento eCommerce website.
Customer support: Though last on our list, but has been recognized as one of the most important aspects of growing your eCommerce business. The web world is flooded with product/service providers. Your target audience has enough options to choose from. Customer service is one of the crucial parameters using which buyers judge their brand, it is important for you to ensure best customer support. With this, you can have both customer satisfaction, which eventually helps you retain your buyers.
The eCommerce industry has grown drastically and is nowhere looking back. To sustain and grow in the hyper-evolving market, it is important to plan and implement strategies keeping in mind the current market trends and needs of your target audience. At Commerce Pundit, we have earned immense appreciation from our clients by assisting them in not just attaining target, but also in creating new benchmarks and excelling ahead of their competitors.