Growth Marketing is an important part of any online business, including eCommerce. Taking advantage of the marketing opportunities that are online nowadays is vital for growing your business and taking it to the next level of success.
From a delivery company such as Uber Eats, to a fully fledged market place such as Wish.com, these eCommerce businesses all have something in common: a strong Growth Marketing strategy.
Growth Marketing might seem like something new and scary, but the truth is that businesses have been using these techniques for decades now, and they have become standard procedures in business and especially online businesses.
Let’s take a look at some of the signs that you might need help with your Growth Marketing strategy, and on what you can do moving forward to increase your customer leads and conversion rate.
1. You don't know how many of your visitors convert on your website
Knowing your conversion rate is key in Growth Marketing as it allows you to see how many potential customers are missing out on your product. By using analytics, you can see where these potential customers are bouncing, and use this to make changes and improvements to your website so that people are more likely to convert to customers.
2. You don't understand why your bounce rate is high on your website
Understanding your bounce rate is important as it gives you insight into what your visitors think of your website and how likely they are to purchase your products. If you have got a high bounce rate, you might want to start looking at analytics and use data to determine what you can do to improve it.
3. You have a high abandoned cart rate on your eCommerce
Having a high abandoned cart rate is a sign of needing help with Growth Marketing definitely, as it means that customers are being turned away somehow from purchasing. The idea is to find out why they are being turned away and how you can prevent this from happening.
4. You want to increase your returning customer rate
It is said that it is a lot cheaper to make a customer return rather than to gain a new one. This is due to the fact that a customer already has history with your company and if they are satisfied with what they purchased, they will have a good perception of your company. Also, customer satisfaction and creating relationships with customers is important.
5. You want to increase your average order value
You might have customers, but they might not be purchasing as much as you intended. Increasing your average order value can certainly be done through Growth Marketing, and when using specific techniques and suggestions, you would be on the way to increasing your average order value.
6. You don't currently keep in touch with your current customers on a regular basis
This shows that you are not currently implementing growth and relationship-building strategies into your website. Keeping in touch with your current customers will build stronger relations and make the chances of them purchasing from you again a lot more likely. If you are not already doing so, gaining help with Growth Marketing may be the answer.
7. You need help understanding how you can increase the lead generation on your website
Generating more leads is important because it gives you more opportunities for your business to expand, from gaining customers to the word-of-mouth recognition and more. Understanding how you can do this is key for Growth Marketing, and if you are not creating new leads then that may be a sign that you need help with your strategy.
8. You are receiving lots of leads but they aren't good quality or qualified
Many people are good at creating leads, but not the right leads. For example: getting people to view and search your website, but them being not too interested in your business. You may be receiving leads from the wrong places too, with different interests, making it hard to convert these leads into customers. This is a sign that you may need help with your Growth Marketing.
9. You don't have enough incoming leads to keep your sales team (or you) busy!
If you are not receiving the right amount of leads to keep you and/or your employees busy (especially your sales team), then this is an obvious sign that you may need help with your Growth Marketing. Having call backs, emails from people who are enquiring, demo requests etc are all good signs that your business is thriving, and without these, you probably aren’t getting enough leads.
A Growth Marketing agency who wants to help you improve your leads and increase your customers is one that you should certainly look into, as they will be able to provide your company with the support it needs to reach an audience and generate leads/customers.