Are you having trouble seeing any return on investment when it comes to marketing your eCommerce website and store? Find yourself increasing in spending only to find you’re not getting as much in return? When it comes to why your results aren’t as good as you hope, that might need consultation on an individual basis. However, when looking at the question of how to make your eCommerce marketing more cost-effective, there may be some answers we can look at there.
Focus more on organic brand building
Advertising is undeniably the most effective means of directly targeting your audience and grabbing their attention. However, if you don’t have the brand recognition to capitalize on and your deals aren’t grabbing as much attention as you would hope, then your ads might not be as effective as they should. Search engine optimization is one of the leading methods of organic marketing for eCommerce platforms and for good reason. It makes it much easier for your audience to organically stumble upon the site when they’re looking for products, boosting its legitimacy and visibility on the web. This signal boost can make customers more likely to trust your advertisements as well.
Use emails to guide your customers through their journey
It’s a lot easier to continue to gain sales from customers you have already converted that it is to convert brand new customers. Not only is it easier, but you’re also likely to spend less. A good example of how to cost-effectively maximize the lifetime value of your customers is through email marketing. For instance, automated email marketing can help you convert customers with abandoned shopping carts. Your email marketing software can sense when a customer stopped just short of finishing a purchase, then sending off an email that offers them a deal or incentive to finish that sale. Email marketing on sales and deals in general even outside of this context can be very lucrative for targeting existing customers.
Stop paying for ads that don’t work
If you’re working with a marketing ad company, then you need to make sure they’re providing the results that they’ve promised. Fortunately, there are companies who will go out of their way to only get paid when your ads are working effectively. This is known as pay for performance eCommerce marketing. You may still pay for the ad spend through the advertising platform, like Google Ads, but you won’t pay the consultants designing and managing the ad campaign unless you are getting clicks and conversions from the campaign. This approach may be less effective when your ad campaigns are huge and much more successful, meaning you’re sharing the split of a much bigger revenue pie, but it can be very effective indeed for smaller eCommerce businesses just getting started in advertising.
Reach out to influencers
Influencers seem to be everywhere these in days, in your social media, in your videos, in your blogs and so often. They can be an important part of the eCommerce marketing team, as well. Typically, influencer marketing is less expensive than direct advertising, but it can be very effective. Through influencers, you are tapping into an audience who is already paying attention and already like the individual who is delivering the message. Lifestyle brands such as fashion, food, and more fit influencers really well as they can visibly show off themselves using and enjoying the products you’re trying to sell.
Have customers do the marketing for you
Your existing happy customers can be much more of an asset than you’re currently using them as. Word of mouth is one of the most powerful marketing forces in the world, and it could be yours to grab for a fraction of the price of a good advertisement. Through effective product and brand storytelling, alongside quality product delivery, you can win audience members into fans. But through incentivizing people, via loyalty or referral schemes, you can make them naturally more inclined to share their love of your products. Launching events or piggybacking off events with large online visibility can be another good way to get the crowd involved. Lastly, engage with your community online when they leave feedback. Seeing positive interactions makes others who are observing more likely to share their own opinion, too.
As your eCommerce platform continues to grow in popularity and revenue, you might find yourself able to slip back into a more aggressive and costly advertising strategy. However, you should always bear in mind the metric of ROI and be willing to switch tracks if you’re not getting what you pay for.