No matter what industry your business operates in, as long as you have an online presence, hacking your growth is crucial to driving sales and ROI. Likewise, online e-commerce stores face a common challenge that needs to be addressed to improve store performance and drive online sales.
There is no particular roadmap for hacking your online store performance growth. However, several e-commerce sites are successful because they have a the mindset of growth hacking and steer their efforts in the same direction by organize and execute campaigns and tests to generate more online sales.
Taking that into consideration, let’s take a look at the best growth hacks for online stores looking to boost performance.
Effective Growth Hacks For Online Ecommerce Stores In 2022
Harnessing the power of social influence
Online stores need to harness the power of social influence through influencer marketing. Each industry has multiple influencers that customers follow for the latest updates and trends. According to Ogilvy, approximately 74% of customers rely on word of mouth to take advantage of services or purchase products.
When it comes to online fashion and clothing stores, influencer marketing plays an important role in driving sales. If you want to double the sales compared to other advertising methods, collaborating with influencers is a great way to do it.
By doing this, you can easily launch campaigns and post a review of your product on their social media accounts. This will increase the visibility of your product and make your brand known to its subscribers. In addition, the confidence that attaches to influencer marketing is much higher than social media marketing with influencers bringing more engagement to brand pages.
Take advantage of FOMO
Fear of missing out is commonly referred to as FOMO and the best sales campaigns have mastered this technique. People don’t want to miss out on anything good and it is the fear of being left behind that drives a lot of user engagement on social media platforms.
On 56% of customers fear missing out on important events and online stores can use it to their advantage. You can take advantage of FOMO by creating urgency in consumers through time-limited promotions and content offers on your ecommerce site.
Use ad extensions to get targeted clicks
For businesses looking to scale ads on Google, ad extensions are a great way to do it. Ad extensions allow e-commerce websites to integrate relevant information about their audience. That way, your click-through rates would increase dramatically. Online stores should serve creative ads that incorporate more aspects than the usual URL and title.
With ad extensions, you can include the following extras on your live website:
- Sitelink extensions
- Location extensions
- Call extensions
- Examine Extensions
- Teaser extensions
Feed funnel with content upgrade offers
Content marketing, a marketing tactic that has been proven to be very effective in generating leads, helps online stores connect with their existing customers. However, many forms of content don’t necessarily apply to most segments, which is why an ecommerce site should analyze its target audience while focusing on the user’s intent for that topic / word. -special key.
To take advantage of content marketing, you need to implement a content upgrade to attract consumers and fully target specific audience segments. You can do this by promoting content updates on blogs that work well or on your social networks with your posts.
Use strategic giveaways to drive web traffic
Ecommerce stores like Amazon, Flipkart, and eBay regularly run giveaways to grab the attention and attention of consumers. In order to properly execute a giveaway, you must choose a product that appeals to the majority of consumers, if not all. This will create brand awareness, increase traffic to your online store, and generate leads that will help improve performance.
With that in mind, let’s take a straight look at a few things ecommerce websites can offer to acquire new customers and keep existing customers coming back for more.
- BOGO offers
- Free introductory products
- Examples of products
- Reward-based incentives
- Trial VIP access to tiered rate discounts.
Integration of new customers
Customers are usually in judgment mode and have constant doubts about whether spending the money was worth it. This is precisely why many SaaS companies use onboarding programs to improve the user experience and put customers at ease. Likewise, online stores can allow an interactive website visit to maximize retention and educate customers.
Onboarding customers isn’t just about making purchases and has a lot more to do with their experience.
Use psychology in your pricing
Brands use a tiered pricing structure, commonly referred to as “Decoy pricing” structure to influence a customer’s buying decision. Online stores can incorporate psychology while setting the price of products by presenting several shopping alternatives, such as many subscription models or expensive and affordable menu items.
It is an effective way to attract customers and get them at middle prices while other prices serve as lures. Charm pricing, another psychological pricing hack, can be executed effectively by placing a product between the available products, in the middle to be precise.
A / B Test your product pages
A / B testing, a popular growth hack exploited by a multitude of companies, allows online stores to identify what works for business improvement and the drawbacks that need to be rooted out. It mainly depends on trial and error and can be used to test your online store’s product pages.
Why specific product pages? For e-commerce websites, the sale of a product is done on its product page. Trial and error in this method can be understood as experimentation until you are right. Make minor changes to the design, images, layout, text font, and content of your product page.
Some common ways to start A / B testing your product page:
- Color of the “Add to cart” button
- Sizes of product images
- Mention a limited offer
- Place or remove a trusted badge
Use exit intent pop-ups.
Many ecommerce websites are focused on finding ways to get more customers to the website. Instead, you should focus on capturing customers when they leave your website. You can easily do this by placing exit intent pop-ups. These pop-ups catch visitors who leave your online store without purchasing anything.
Exit intent pop-ups do this by offering visitors one-time product discounts or asking them to enter their email so you can bring those visitors back to your sales funnel.
Send a “Buy Again” email.
Loyal customers are more valuable to your online store than new customers. This is because these customers are more likely to add a product to their cart and have low bounce rates. In addition, these customers are twice as likely to convert, that’s why you need to make sure these customers shop on your website.
Sending buyers a “Buy Again” email every ten to fifteen days after purchase might do the trick. Your “Buy Again” emails may include a URL of the product they previously purchased or links to similar products. Ecommerce websites should use email marketing software to design emails and automation tool to schedule and send emails automatically.
FOMO, ad extensions, content marketing, and using psychology when pricing products are a few strategies to maximize retention, reduce bounce rates, and generate leads and conversions. Harnessing the power of influencer marketing and onboarding new customers with website visits are a few more growth tips to dramatically improve the overall performance of an online store.