E-commerce recommendation

In 2019, e-commerce sales worldwide were $ 3.53 trillion.

According to Statista, that number is set to rise to $ 6.54 trillion by 2023. Online shopping was a popular time in the past prior to the pandemic, but e-commerce grew 20 percent in 2020 alone.

Are you ready?

With the right preparation, ecommerce merchants can achieve double-digit conversion rates and consistent year-over-year growth. Not sure how to get these results on your own? An ecommerce consultant can guide you step by step to achieve these amazing results.

3 Ways An Ecommerce Consultant Can Help Your Business Grow

The pandemic wasn't good for everyone.

CB Insights found that the retail apocalypse that began in 2015 actually accelerated during the Covid-19 pandemic. Small local businesses that neglected e-commerce suffered the most. Large companies with well-known e-commerce stores filed for bankruptcy in 2020.

These are brands that you would likely recognize.

Brooks Brothers, GNC, Neiman Marcus, Hertz, and J. Crew – these companies were all market leaders at one point or another. But now more than 30 of these companies are life sustaining.

Online customers are pessimistic and very skeptical. They work with established companies like Amazon who are ready to offer free two-day shipping.

How should a counselor help you survive this?

Here are three ways that ecommerce consultants can help retailers solve the problems they are facing.

1. Precise customer orientation

In many cases, 80 to 90 percent of your marketing work is done here. This is also the hardest part to sell as a customer. The answer is usually, "Oh, we already know that." A good ecommerce customer knows how to test this claim.

They do it by asking questions.

Who is your client? How familiar are you with their desires, goals, fears, frustrations and problems? What are their demographics and psychography? Do you have the answer first, like most salespeople, or consistently?

Customers change.

What's okay today won't be tomorrow.

Here's why that matters. Everything your ecommerce advisor does, how much effort they put into growing your business depends on this step. You can't create a compelling product offering or incentive if you don't know your customers as well as you think you are.

Your ecommerce advisor will refine your audience.

They'll help you find the people who are willing to spend more money on your business over time.

2. Create profitable offers with functions and advantages

CBInsights has released a list of the most common reasons for a startup failure. You listed more than a dozen categories, but most of them weren't that important. Do not get me wrong. They were important, just not the most important. Here is the most important thing.

No market need.

42 percent of the startups failed because they developed a product with functions and advantages that nobody wanted. However, these are startups; It looks different with e-commerce shops.

They just aren't.

Research shows that 90 percent of e-commerce startups fail in the first 120 days. of the remaining companies:

  • 36 percent fail in the second year
  • 44 percent fail in the third year
  • 50 percent fail in the fourth year

The biggest reason?

Ecommerce stores focus their attention on the wrong product. Customers refuse to buy these products, so the business ultimately fails. An ecommerce consultant will help you create the right product. If they have allowed you to do the groundwork required to target your customers, you should have a pretty good idea of ​​the products that customers actually want.

3. Use customer pessimism to increase sales and average order values

You will have two types of customers. Optimists and pessimists. Optimists are easy to sell, but harder to keep. Pessimists, on the other hand, are harder to sell, but easier to keep.

A meta-analysis by Bart S. Vanneste shows how this works.

  1. Trustors (your customers) begin a relationship with trustees (you).
  2. Confidants use what scientists refer to as “perceived trustworthiness”. That's the fuel or spark you need to take a risk.
  3. Afterwards, people you trust change their impression of you in order to adapt it to reality.

It gets difficult here.

  • Optimistic confidants overestimate trustworthiness. At first they give you more than you deserve. Since they are disappointed, their trust in you will decrease over time. If they're not happy with the results, their confidence will continue to drop.
  • Optimistic confidants overestimate trustworthiness. At first they give you more than you deserve. Since they are disappointed, their trust in you will decrease over time. If they're not happy with the results, their confidence will continue to drop.

A good ecommerce advisor knows how to build trust with skeptical or pessimistic customers. You can leverage your customers' natural distrust to increase sales and revenue with helpful tactics like warranties, return policies, warranties, and promises.

They show you how to convert that trust into sales and increase your sales, upsells and average order values.

Getting started with an ecommerce advisor

Your ecommerce advisor should be a specialist with extensive expertise in retail or ecommerce. Think about your needs and the consultant's specialty and experience. Are you going to work with an individual or a team? You are looking for proven knowledge and expertise that has led to successful results for other customers. You want your advisory team to be able to achieve the same results for you.

You should also have experience in a variety of marketing disciplines and channels, including:

  • Analytics
  • Email Marketing
  • CRM
  • content
  • Branding
  • Direct answer
  • E-mail
  • Marketing automation
  • Market research
  • Cell phone, mobile phone
  • sales
  • SEO
  • PPC
  • website

When you have decided on the consultant you want to work with, ask them to answer the following questions:

  • What do you need from me?
  • When do you need it
  • What is your role and what is my role?
  • Do I have a dedicated representative I can contact?
  • What is your communication process?
  • How can we ensure a smooth experience?

You want to see your advisor follow a process. They should give you clear answers to each of these questions.

Measuring the ROI of e-commerce advisory services

Measuring the ROI of ecommerce consulting is pretty straightforward.

If you track the right metrics, you can measure your ROI. While you can track hundreds of metrics, only a few of those metrics are essential. Ask your advisor to start with the basics and then build from there.

Here is a pick list you can use.

  • Traffic (unique visitors): The number of qualified prospects visiting your website. If you're using a tool like Google Analytics, make sure you're filtering traffic out of bots or spam. Your visits should focus on generating traffic from qualified traffic sources.
  • Exchange rate: This is the number of conversions divided by the number of users. You can set different conversion goals (e.g. leads, e-commerce, likes, etc.).
  • Income by traffic source: This shows you which traffic source is the most profitable and makes it clear where to spend your marketing and advertising dollars.
  • Cost per action: Here's how much it costs to generate a lead, make a sale, or sell a specific customer. This is an important part of your breakeven calculation, which is used to determine if you are (or not) profitable.
  • Churn rate in e-commerce: Churn measures the number of customers who leave your company in a given period of time. It is usually a SaaS metric, but it is widely used as a metric for e-commerce today. As your churn increases (i.e. customers leave), your sales decrease.
  • The number of returning customers: The formula is regular customers / based on total customers * 100. Regular customers have a conversion rate of 60 to 70 percent. The more regular customers you have, the higher your sales.
  • Average order values: This is a formula. This is your total sales divided by the number of orders received. You can increase average order values ​​using upsells, downsells, and cross-sells.

Your ecommerce advisor should be able to help you track these metrics. When you're just starting out, these seven essential metrics should keep your attention.

7 point checklist for finding the right ecommerce advisor

What should you look out for in a consultant?

What questions should you ask when looking for quality advisors? Are there certain details that you need to focus on to make sure your business is attracting the right people?

Here is a list of the qualities and characteristics you need to find the right advisor for your business.

  1. A good reputation: You want to look for reviews, references, and testimonials. You want to find a consultant with positive reviews from the majority of their clients. If your advisor doesn't have a good reputation, look for content that gives credibility and authority.
  2. No ethical gray areas: Your consultant shouldn't have any problems with black hat SEO or questionable tactics. There should be no history of unethical behavior, fraud, or suspicious behavior.
  3. Clear objective: Your advisor should be familiar with your goals and objectives. You should understand your business well enough to track and manage the key metrics and KPIs that you need to grow. The right advisor should be able to help you set goals and KPIs. They should be able to help you develop your goals.
  4. Consistent ROI: Your ecommerce advisor should be able to demonstrate to you that they have produced consistent results over a period of three to five years. It is a good place to start by asking for case studies and their references. However, they want them to provide you with detailed numbers or evidence showing that they did it either for themselves or for other clients like you.
  5. Experienced ecommerce sellers: You want to turn your attention to consultants who have successfully owned, managed, or expanded an ecommerce store. You must be familiar or experienced with e-commerce. They should be able to show you the business, provide you with case studies, or outline the work they did for the ecommerce brand.
  6. Focus on customers first, then search engines: Consultants should create quality content for clients first, then search engines. The focus should be on getting the right customer at the right time, at the right price, whether you are speaking to a cold audience, subscribers, customers, followers, fans, or a combination.
  7. Deep e-commerce know-how: Your advisor should have experience in the same industry or field. Look for in-depth knowledge and expertise for your industry, your company, your product or your service. If they do not have the required expertise, they should be able to demonstrate that they have experience in a similar ecommerce topic or niche.

These are details that top quality consultants, including agencies like NP Digital, provide. If you want your business to grow, choose consultants who meet these criteria.

Conclusion

E-commerce sales continue to grow rapidly.

You can achieve double-digit conversion rates and constant year-over-year growth. An ecommerce consultant can guide you step by step to achieve these results.

With precise customer orientation, good products, profitable functions and advantages, as well as a little customer pessimism, your e-commerce advisor can help you achieve double-digit conversion rates and constant growth over the previous year.


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