How To Plan Your E-commerce Business ?

Ecommerce Business Planning Nice-to-Haves

Now, assuming you have all six must-haves in order, these are five important — but not imperative — details to consider

.

• Multiple SKUs

• Product Financing

• Strong Lifetime Value

• Lifestyle Imagery

• Existing Purchase Traffic

Let’s explain

1. Multiple SKUs

Multiple SKUs for “ like” products are ideal.

Here’s what we mean

Still, I need product A, If a client says.

And you not only have product A — but you have different varieties of it ( different colors or designs), your client is much more likely to buy more than one; therefore your average cart value will increase.

2. ProductFinancing

Newproductfinancingpaymentoptions, like Affirm and QuadPay, have made it so easy clients can make minor payments over several weeks as opposed to one large payment upfront.

These options have led to a big jump in purchases and cart value, particularly among high-priced product vendors. The win-win part? You get paid the full amount upfront!

Addproductfinancingoptions to your website if you can.

3. StrongLifetimeValue

Knowing what your real-time value is per client and how many purchases they make within a cycle on average allows you to set lower targets for your ROAS aim and higher targets for your CPAs. This means you can scale rapidly and grow your business briskly.

For instance, if you have an average cart value of$ 100 but clients generally buy three times over 12 months, your average-cart value becomes$ 300.

4. Life Imagery

We’ll touch on this more soon, but life imagery ( i.e. images of your product “ in action” and being used by real-life people) allows your guests to really fantasize themselves using your product.

5. ExistingPurchaseTraffic

However, for instance), Google uses this information to identify what those people look like and find matches in their own ecosystem/ userbase, If you have an existing audience (from social media or email lists.

In other words, instead of starting from scrap, the existing audience gives Google some notes to get going.

Optimize Your Existing Products

Let’s make sure your products and offers are as value-driven as possible. There are three ways to achieve this

Increase Actual Value

We’re not talking about raising the price of your products here.

Instead, we’re talking about how you can get clients to buy further from you. There are several ways to achieve this

packets! If you have two products that generally go together, offer a pack for a discounted price. You increase the value the client receives but you also increase your profitability.

Sure, the price is “ discounted,” but you’re saving money on shipping and fulfillment while adding to your cart value.

Subscriptions! For consumable products (or any other products that can be bought periodically) consider offering a subscription-based model, which ensures reoccurring purchases.

We've seen first-hand that some subscription models have the same cost-per-acquisition as a one-off purchase.

One-click upsell!

When a client is checking out, offer products that can be smoothly added to their cart with one click.

IncreasePerceived Value

Don’t undervalue the power of descriptions and images.

Then’s the thing online shoppers are at a disadvantage because they can’t tangibly see and feel products like they would in a physical store. Still, this can be a big opening for you to stand out.

Give your spectator a full virtual experience of your product describes the benefits of your products, not just the features. Show your product in action with life imagery, so users can imagine themselves using it. Explanation of the product in a clear, easy-to-understand way.

Perceived value is more precious than the actual value.

The perceived value is the reason they buy.

Fringe Benefits

Also, consider any added creative ways you can add value (and perceived value) to your products. This can be in the form of added content ( think product demonstrations, how-to videos, and tutorials), assembling a community around your product via social media and forum, or early access.

AscensionModels and Value Optimization

Once you start pulling in more clients and deals, there are many ways to optimize your growth

.

✔️ Neverstopselling

It has been proven (with science!) that humans are in a different state of mind when they make a purchase than when they evaluate whether they want to buy.

clients are likely to buy another product immediately after buying something else because they're in a “ buying” state.

Take advantage of that buying window!

Giveclientsmultiplechances to buy and add products based on their initial purchase.

✔️ Orderbumps

This is along the same tone, but it bears repeating

.

Order bumps are options to add more products to your cart and they work.

A great way to do this is through the FrequentlyBoughtTogether app on Shopify

✔️ Set up your email list/ email marketing

When it comes to eCommerce, email has the potential to bring in additional money than any other marketing channel.

Actually, you don’t want to spend a lot on paid traffic ever (a la Google Advertisements)! And email marketing is one of the most affordable marketing channels available.

Need to pull in more email addresses from your followership?

Capture contact details using value-driven content that's applicable to your offer (e.g. how-tos, guides, checklists).

✔️ Repeat and/ or recurring clients

It's more costly to acquire new clients than to sell to current clients. Capitalize on this.

✔️ Build social proof

Clients buy from brands they trust. Social evidence has the power to bring in new clients — so be sure to continue setting up social evidence and showcase it on your website.

Don’t be frightened to ask your clients for feedback and reviews.

FinallyChoosing a Product/ Niche

As a precursor, we want to make this clear be true to your brand. Cover your brand. Don’t change lanes simply because of a flimsy trend.

That said, you can make some pretty savvy and informed opinions by doing some exploration on the recent market trends — and when possible, use this information to optimize the products you offer to meet these trending requirements.

Here’s how

✔️ Rising Retail Categories

Suppose Google’s Rising Retail Categories is one of the industry’s best-kept secrets. You can use this interactive tool to “ understand fast-rising retail categories in Google Search, the locations where they ’re growing, and the queries associated with them.”

✔️ Google Trends

Make use of Google Trends; this is a great way to identify trends from a volume/ search perspective.

Interested?

BOOST YOUR ROI TODAY

Designate has consistently increased conversion rates for its clients by engaging the most sophisticated metrics and tools to acquire, engage, and convert target audiences across domains. Get in touch to know how we can boost your ROIs.