In today’s world, running your own business is not easy. It is necessary to take into account many nuances, take care of reporting, timely payment of taxes, paying employees, and so on. It often happens that the business brings a small income, much lower than you would like. In this case, you need to find ways to fix the situation for the better and more seriously undertake the development of your business. To make your business thrive and start making higher profits with less effort and time, you can follow these 3 business growth tips from eCommerce experts.
Implement an omnichannel approach
Customers should be equally comfortable choosing, paying, and receiving the goods by all available methods. You should understand that omnichannel technology is not designed for the convenience of merchants, but for the convenience of customers.
Clients today choose, compare prices, carefully study reviews and delivery conditions on the Internet, and then go to the store to look, feel and try things on.
It often happens that salespeople in stores find out about online promotions and sales from the customers themselves. It also happens that the product stated on the site is not in a particular store or the prices differ from the online offer.
Such a discrepancy between online and offline offers nullifies all costs and efforts for online promotion.
How does an omnichannel approach work?
Implementing an omnichannel approach leverages all possible avenues of communication with the customer and makes marketing research and sales tactics very easy. For example, free Wi-Fi in a store will not only make life easier for customers but will also help collect data on the movement of customers around the room.
- Using Wi-Fi you can inform about short-term specials, send notifications, track preferences and collect a lot of interesting statistics. Electronic price tags can also help if they are synchronized with cash registers at all outlets.
- Analysis of users’ ways and preferences will help to develop loyalty programs that will be convenient first and foremost for customers, not for managers seeking to get rid of product leftovers.
- Convenient discount programs will make customers return to the store again and again.
- The connection of ERP-service to a single omnichannel platform will reduce costs for logistics, accounting and can solve a lot of other issues.
One of the successful examples of omnichannel implementation is the Zara chain. The path from selection to purchase there is as short as possible, and the costs of returning goods are minimized. For clients, there is no difference between buying equipment online or offline.
Plan targeted advertising campaigns
DMP is a data management platform created for advertising marketing purposes as a tool for targeting. With DMP, you can optimize campaigns, conduct research, and plug in the most effective advertising tools based on set parameters.
You get not just raw data on discount cards of regular customers (they are suitable for total e-mailing or work in social networks), but the full mechanism of synchronization with the target audience.
The entered card number, opened email and other user’s online actions can be used to track preferred purchases and generate data sets for advertising campaigns on certain products.
How do targeted advertising campaigns work?
For example, if a user has purchased a smartphone, he or she will subsequently receive offers for accessories for that particular model. If a person constantly buys healthy food, he or she will be offered novelties and related products, such as cookware or steamers.
There are ready-made DMP systems suitable for both retailers and advertising agencies. You can also develop your own platform or use SqueezeCMM.com for more accurate analysis.
Don’t forget to work with reviews on social networks
Most shopping network sites and online stores are integrated with social networks. It is important not only to create profile groups, increase the presence and mentioning of the brand in social media but also to carefully study the feedback and respond to it promptly.
Even if one out of a thousand reviews is useful for improving the service or fixing flaws, it will pay off.
How the response to social media reviews works?
To work in social media, you need to develop special regulations with KPIs for feedback, response, and monitoring. For example, Essay Tigers, a platform that easily solves the students’ “write my dissertation for me” problems, has a KPI of responding to user comments within 20 minutes on social media. This company is very active in social networks.
Conclusion: what is needed to increase business growth?
- Implement omnichannel communication and modern resource management systems in logistics and sales.
- Apply modern Data Management Platform (DMP).
- Integrate sales networks and online stores with social networks.
- Maximize personalization of offers with Big Data.
- Automate customer service on the basis of CRM systems using chatbots, social networks, and messengers.
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