When planning to write this article, I was surfing the internet to see what came up when I searched “How to market my eCommerce store?”. I opened tens of tabs on strategies and tips on marketing and ended up drowning in information that got me nowhere. So, I decided to write a simplified and straightforward article that allows you to build YOUR OWN marketing plant rather than tips and strategies.
Let’s find out…
In simple maths, for your eCommerce business to get traffic that results in sales, you will need three things: A Goal (what)+ Strategies (objective) + Tactics (how) = a concrete eCommerce Marketing Equation Plan
Let’s think of this equation through the below triangle starting from the goal.
- The goal is what you aim to achieve in a set time frame. An example of a goal is “traffic of 30,000 users and a revenue of £17,500 in 12 months.”
- The strategy is the path that will lead you to this goal. An example of a strategy is reaching out to your network to encourage them to purchase your goods.
- The tactic is the way you intend to implement the strategy. An example of a tactic is using a referral scheme to encourage people within your network to spread the word within their network of people.
Using the above triangle, we have identified a goal, a strategy, and a tactic that gave us a concrete eCommerce marketing equation plan. You can now use this equation use the trial and error method to see which combination works best for YOUR business.
Let’s delve deeper –
Goal
The goal is a subjective matter that each business owner should put for the business. My only advice is to be ambitious but also be realistic about what you can achieve within a specified timeframe. This should depend on the resources available, team size, and the time you can put into the business.
The 4 Marketing Strategies
There are 4 marketing strategies that eCommerce businesses can use which are visualised in the diagram below. Read 4 marketing strategies in detail below.
1. Your Network and Early Evangelists: Use your network on social media to market your product. In part 3 of this series, we discussed how to build traction. The article explained the importance of building a waiting list which you can use to inform them that your product is now live. You’ll need to be creative on the how which is the tactic that completes the equation.
2. Partnerships: Reach out to other businesses that offer complementary products to what you offer to get access to their audience. Again, the how is essential here. You might be asking yourself, how would a vitamin eCommerce Marketing Equation use this strategy. They could either partner with a fitness club, for example, or comment on their LinkedIn/Facebook posts, which gives them free access to a whole new audience.
3.Events/Conferences:
Keep an eye on events happening near you that might interest your audience. As you are always on the hunt for your target audience, it is crucial to build a physical (in-person) presence. GymShark has done it, and social media spoke about it for days. You should too.
4.Content Creation:
In my opinion, this is the hardest of them all. To succeed you will need consistency in posting (say 3 posts every week). Don’t worry about your branding or if the content doesn’t look so good. As the business grows, the content will evolve. Getting out there is all that matters. TikTok, Twitter, Facebook and/or Instagram. You should be present wherever your audience is.
The Tactics
The tactic differentiates you from other businesses, and you will need to be creative about it. Some examples of tactics include:
- Advertisements: A blog on why your product is better than your competitor
- Social Media: Commenting on your Target Audience’s, partner’s, or a complementary business’ post.
- Social Media: Testimonials from influencers
No matter what the tactic is, keep it Simple, Organic, and let it resonate with your audience.
We would also recommend using a CRM tool such as HubSpot to keep track of your leads, prospects, and customers through the sales hub and; your ads and posts through the marketing hub.
