WebFX’s SmB Online Marketing Guide: How to Grow Your Business Online

You’ve probably heard of Shopify, the Canadian e-commerce platform that owns Shopify.com. According to one former employee, the company generated $16.8 billion in revenue in 2021.

While Shopify is indeed a huge business, it’s not the only player in the market. Other notable players include Big Commerce, which was once valued at over $12 billion, and WooCommerce, which was purchased by WordPress for $24.1 million in 2018.

Forbes recently valued the online marketing and e-commerce market at $16.9 billion and said that the sector is seeing “solid growth”. In 2021, over 4 million new merchants launched online stores, and over 2.6 million of them were established in the US.

Why Should You Launch An Online Store?

Launching an online store offers some distinct advantages. For one thing, you can offer your products worldwide, provided you use a platform like Shopify that has international capabilities. You don’t need to worry about shipping costs, as all purchases are usually delivered at no extra cost to you.

Secondly, you can use a variety of payment methods, including Paypal, credit cards, and Amazon Payments. Plus, some e-commerce platforms allow you to take advantage of voucher codes, which provide you with discounts on your products. Essentially, with an online store, you can optimize your pricing strategies and maximize your profit margins.

What Should You Include In Your Online Store’s Navigation?

You need to provide your customers with an easy way to find what they’re looking for, which is why a good e-commerce platform’s navigation is critical. One of the most popular shopping carts available is Shopify’s Carts & Widgets, which allows you to organize your products into groups and display them in an attractive manner. This is beneficial for customers, as it allows them to easily find the products they’re looking for.

You can use the Carts & Widgets area to display any kind of content you want, including product images, videos, and text for promotional purposes. Simply click on the little wheel icon next to any of these items to customize the appearance of the entire area.

What Is The Key to Having a Successful Online Store?

Just like any other industry, e-commerce and online store success stories are varied. However, if we were to create a guide for newbie entrepreneurs just starting out, we’d say the following things contribute most to a business’ ultimate success.

Focus On What You Know Best

If you’ve never done business online or operated an e-commerce store, it might be a good idea to seek out an experienced professional to help you navigate the process. After all, you could end up learning something new, and there’s always the possibility that you won’t be able to pursue this line of work if you aren’t equipped with the proper knowledge and tools.

Make sure to focus on what you know best. If you’re most comfortable in the digital world, utilize your technical skills to build a strong e-commerce website. Similarly, if you’re an experienced business owner who’s looking to venture into e-commerce, seek out a company that offers expertise in online marketing and sales.

Understand The Economics of The Industry

Every industry, including e-commerce, is influenced by economic factors. As a business owner, you need to understand what are the trends and what are the drivers behind them. Also, you need to know how to position your business in relation to your competition.

For example, during the height of the pandemic in March and April 2020, many industries, including e-commerce, saw a significant decrease in revenue. Understand how this change in the economy will affect your business and be prepared to make adjustments.

Be Confident In Your Decision

It’s never easy to make a decision like this, especially when you’re not fully aware of all the moving parts. However, as an entrepreneur, you need to be confident in your decision. While the demand for your products may be high, the competition is also likely to be fierce. Having confidence in your decision-making will help you navigate this new industry and provide you with the courage to make things happen.

Have A Plan For Growth

There are many successful business owners who didn’t wake up one day and magically found themselves with a billion-dollar company. Rather, they slowly and methodically built their business, taking time to analyze the market, determine their place in the industry, and formulate a solid growth strategy. This strategy should incorporate multiple channels, including e-commerce, social media, and offline marketing.

Make sure to include all of your marketing channels in your strategy. The number of people using different channels to find products and engage with brands has increased, so you can’t really pinpoint customers and potential customers to a simple channel. Having a multi-channel strategy will maximize your reach and provide you with better engagement.

Make Sure You’re Ready To Handle The Growth

It’s one thing to have a dream and decide to pursue it. However, if you want to make this dream a reality, you need to be ready to handle the growth. Just because you have a successful business model doesn’t mean that you can simply expand your operation overnight and expect things to go smoothly. As the saying goes, “hockey stick growth”. You need to be prepared to make significant changes and adjustments, especially when you’re still a small business.

For example, if you’re rapidly gaining popularity in your market, you may decide to expand your office and hire more employees. Doing so will not only increase your productivity but also your customer’s experience. Plus, having more people will help you analyze and solve complex problems.

The above points make up the basics of a strong online marketing strategy. Keep these tips in mind, and you’ll be able to successfully position your business for online success.