Every E-commerce business is unique. Consequently, every business gets the profit that deserves. Your task is to work hard, develop your business, and never give up.
Today we will talk about tips on how to make your E-commerce extremely profitable. But before that, I want to consider several business models.
Sometimes you do not get the profit you want because you rely on the wrong business model. The best way is to make a pivot, and the sales can go uphill.
Who can help you with this challenge? A market research company is the exact one you can rely on in the business. Unlike the others, digital marketing agency Adloonix can provide you with proficient analysis of your business based on up-to-date information and digital technologies. We are enthusiastic about creating incredible promotions and creative business solutions for brands and startups. Maybe, you can be our next client.
E-commerce business models
Now we will discuss the peculiarities of four main E-commerce business models.
· Dropshipping
It is a common business model because you can earn money without touching the products you sell. Moreover, you do not need big initial investments to start the business. You should only create a sleek and user-friendly website. The clients go to your website and order products. Then you send the orders to the manufacturers, and they distribute them directly to the customers.
· Manufacturing and white labeling
If you think about making and selling your products, this type is ideal for you. This model will allow leveraging upon the competitors. You should also remember to add the cost of materials, producing, and stock control in your business plan to avoid overspending.
· Subscription businesses
Marketers consider this business model as a limitless one. You can offer a subscription for each type of product. However, you must be sure you are creative enough to satisfy your customers and attract new ones. Initially, it can be hard to grow this type of business, especially for small companies. But after a while, you will enjoy the steady growth of income.
· Warehousing
This business type means buying the products at a low bulk price from manufacturers. Then you place them on your website and resell products at a higher price to make a profit.
We outlined popular business models. Then I want to discuss ten tips on how to build a profitable E-commerce business.
Tips to make your E-commerce business extremely profitable
1. Improve your website
A website is the face of your E-commerce business. The latest investigations show that users only buy from websites that have all information about the company, shipping and return policy, description of the products, well-known payment options.
As a digital agency, we can offer you to create a sleek and user-friendly interface of the website. A professional site can help your brand to increase income, get better customer experience from your customers, and boost brand awareness.
Of course, the development of your site never stops. Like with all creations, you have to be sure your site works perfectly. And we are glad to help you with this task.
→ Here is the link to our Web/App development services 🔗
2. Generate traffic
If you do not drive enough traffic to your site, you do not get profit. We usually use Traffic generation to help our clients. It is attracting consumers towards your website. This modern approach will help you to drive more brand awareness, quality leads, and sales.
Moreover, we help you to build the conversion machine to accept orders online and collect information about the visitors. In any case, your website must gather analytics, track visitors, and collect contact information of customers.
Our team set up analytics tracking, launch a lot of ad campaigns. Then we can see what works better, what does not work. Next, marketers optimize the campaign, try to reduce CPC (cost per click) by improving and testing, and measure what results you have (reach, impressions, clicks, leads). It can help to turn visitors into leads and customers. And it is fast and easy when professionals promote your business.
→ Here is the link to our Traffic Generation service 🔗
3. Personalize your offer
Customers are more demanding now than several years ago. Here and now, they want something unique, made special for them. You can create some quizzes and surveys to build a customized product and fulfill the needs of your clients. It will be beneficial to your E-commerce because you differ from your competitors.
Moreover, you should personalize your prices. But first, you have to do competitive analysis, determine demand on the market, and define the value of your products. Our team can compare competitors’ prices with yours during digital market research. The personalized price can become the turning point of your E-commerce business.
4. Check SEO (Search Engine Optimization)
The huge source of traffic is search engines. All businesses, not only E-commerce, must pay attention to it. You know that most of the buying decisions start with a simple search. And your task is to optimize your website since it helps to rank your site higher.
The process of optimization can take some time if you do it alone. But our agency regularly changes SEO strategies for the clients to keep pace with new developments in software algorithms and computer databases. Nevertheless, we always stick to a strategy that takes into account the time of year, location, and price range in your niche.
Besides, we always check the vital factor for SEO — the speed of your website. A fast loading website can engage more clients and convert them to regular customers. Moreover, a fast loading website will rank higher than a slow one.
→ Here is the link to our SEO service 🔗
5. Know the competition
E-commerce sector is highly competitive. Your task is to decide how to stand out from the competitors. More information you have about their peculiarities, special offers for customers, their strengths and weaknesses, more leverage you have upon them.
We pay attention to how your competitors run marketing campaigns and launch new products or services. You can save your time and money, determining what not to do and avoiding these mistakes.
Our team also examines the marketing channels of your competitors. We have to study Instagram or Twitter if your competitors are active on these channels. You do not necessarily have to set up social media advertisements on the same channels, but you have to know how they work. Marketers can also analyze what they post and how often they update the content on the website.
Then, we give you the list of your competitors with a detailed analysis of their business conditions, description of their product baskets, and prediction of their future innovation.
→ Here is the link to our Market Research service 🔗
6. Target your customers
You should keep your potential clients at the front line of your mind. You should also know that many business owners think they know the target audience. But later they can discover another group of customers. Your goal is to learn your audience, their needs, and wants.
We can help you to determine what social platforms they use. It will help you to understand what digital channels are better to apply. Moreover, your promotion strategy will be more effective when you create your ideal customer, Buyer Persona. Knowledge about the needs and pains, goals, and dreams of your perfect customer will help you to attract more customers to your business.
7. Create an effective content strategy
If you want to engage more visitors to your website, you need situational and creative content. If you want to turn the visitors to regular customers, you need situational and creative content. If you want to boost your sales, you need situational and creative content. In any case, content should be an essential part of the business plan.
The strategy of our firm consists of several important steps: analysis of the audience’s interests to define a content strategy; optimization of the content after creating; awareness when to publish it; analysis and improvement of the results.
→ Here is the link to our Digital Strategy service 🔗
8. Create a blog
The online blog is a cost-effective way to introduce your business, products, or services to the target audience. Business owners confirm that it is a perfect place to attract potential customers, develop your brand recognition, and build a reputation.
We can name at least five advantages of adding a blog to your marketing strategy: more inbound links; more leads; more indexed pages; increase in conversion; trust from clients.
But it is more than just posting some content once or twice a week. You have to create a promotional strategy for every social platform where you share the articles, images, or videos. You can use popular platforms such as Medium, Pinterest, LinkedIn, Reddit, or Quora. They have a huge audience, so you can be sure they will find your posts.
You have to pay attention to your content. It should be original and creative. Moreover, your posts must be high-quality since your audience will judge your business by them. It is a good strategy to post something new that will push your audience to follow you, buy your products, and leave positive reviews.
9. Set up an advertisement campaign
The success of E-commerce is impossible without marketing channels. They are powerful methods to promote and sell products or services. I will define the popular methods that we use to get more traffic for our clients and boost their sales.
· Email marketing is a low-cost way to reach your audience. The clients receive promotional messages from brands or companies. But you should be careful with the content within emails and the list of your receiver.
· One more powerful and effective marketing strategy is advertising with PPC (pay per click) ads. It is a useful service that leads your website to the top of search results, even if the ranking of your business is not the best. Using PPC, you only pay when users click on your ads that lead them to your site. Then your task is to convert them.
· SMM (Social Media Marketing) means the usage of social networks to engage more clients, promote your product or service, achieve business goals. You can use content marketing, for example. You can post some articles, posts, videos about your products. As a result, the interest in your product or service will increase.
· Social media ads are a very powerful tool, especially when you know how to use targeted ads. We can target your audience using specific demographics, psychographics, and behavioral information and set up ads for your potential customers. Our team knows how to get your clients via Facebook, Instagram, YouTube, LinkedIn, and Twitter advertisements.
· The main advantage of influencer marketing is that the customers are already there. Influencers can be well-known celebrities. But more often, they are Instagram and YouTube bloggers. Their followers can visit your website to buy these products. Consequently, influencer marketing will increase the visibility of your E-commerce store to a larger audience.
10. Set up A/B testing
Marketing is all about testing. Every prosperous business owner uses testing during the marketing process. They know what variation of the specific feature appeals to the customers since it boosts sales. Most of the marketers use A/B testing. It encourages marketers to test two versions of something to discover which performs the best to maximize the desired outcome.
The team of our company tests many elements: two different subject lines for an email campaign, two versions of a Google Ads campaign, two pricing schemes for a new service, two-color schemes for a landing page, etc.
We have talked about how E-commerce business can be profitable. As you see, the success of your business is up to you. But you can hire a reliable business assistant Adloonix to develop your business faster. We will put our backs into your case and make your business extremely successful. Count on us to yield the best results!
Best Regards,
The marketing architect and founder of Adloonix
What E-commerce business model do you have? What do you do to increase business profit? Please, leave your comments below.
