Even when you’re selling the hottest products from your online store, there will be times when sales become slower and revenue flat-lines. Some e-commerce entrepreneurs can get discouraged in these stagnant periods and lose confidence in their own company. Don’t let that happen to you! Here are six effective tips for reviving your passion and business growth.
1. Detect Problems and Take Necessary Steps
When business becomes slow, the first thing you need to do is track down the source of the problem. Are you still offering in-demand products and services at a reasonable price? Do your employees seem well-trained and motivated? Have you targeted the right market segments? What have your top competitors been doing? These questions can help determine areas where you may have fallen behind.
Once you have determined where missteps are occurring, plan actionable solutions. You may need to retrain employees or hire new managers. Market research and evolution of your competition should be ongoing processes that often require new tools. Whatever it is, make sure to take necessary steps that will get you back on the right track,
2. Assess How Your Products Are Presented
Attractive website design is surely important, but audiences also need good product descriptions and photos in order to be willing to buy from you. As these will shape their decision to purchase, try to assess and improve how your products are presented.
Great Product Photos
Include multiple photos from several angles. Use close-ups to highlight important features. Every photo should be taken with a high-resolution camera and adequate lighting. Show items in context where possible, such as stuffed animals on a child’s bed, not a sterile backdrop. Always show a sense of scale by including common objects like ink pens or gloves.
Product Descriptions
Start your descriptions with an intriguing line. Keep the description concise, but include key points. Provide accurate specifications, such as weight, colors, sizes, materials, and dimensions. If you’re selling vintage merchandise, be sure to describe its history and condition, and include photos of any damage.
3. Revisit Your Content Marketing Strategy
Profitability comes down to return on investment. If you aren’t making the effort, it will show in your marketing. To build lasting customer relationships, you have to keep providing fresh, quality content. Try ideas that make an emotional connection.
You could use storytelling to relate the history of your company and the character and values that form your vision. Add a blog to share your experiences. Include articles or videos about innovations and industry challenges, as well as tips or how-to pieces. Share these posts on social media to grow your following. When you revisit your content marketing strategy, you will attract more visitors to your website. And the formula is simple: more visitors, more buyers.
4. Promote Your Business Constantly
Mention your latest products or deals in your e-mails and on social media. Talk about your company during social events. Get involved with fundraisers and charities. To put it shortly, be consistent with your branding and promote your business whenever you can: it will help you improve audience recognition and acceptance.
However, it’s important to create positive reactions. Avoid being pushy or becoming tedious. A flood of posts to Facebook or Twitter is a mistake. Audiences will tire of it. Be certain that all of your posts are timely and meaningful.
Think about topics or ideas that are share-worthy and could go viral. You can also improve perceptions of your company by using social media for customer service, not just marketing. The goal is a loyal following that promotes your brand for you.
5. Keep Educating Yourself
Continually set aside time to learn more about your products, industry, employees, and audiences, but don’t overlook developing yourself personally. Improvements to soft skills like negotiations and personal leadership will serve you well. You also want to be familiar with the latest technologies, techniques, or software within your niche.
Learning should be a life-long pursuit, so start using available resources. Today, education is freely accessible online in the form of webinars, tutorials, blogs, videos, and downloadable apps. For example, you could enroll in an MOOC and reach out to industry leaders and influencers. The new knowledge you acquire becomes a competitive advantage for your business.
6. Thrive Through Perseverance
Setbacks and failures happen to every business and shouldn’t shake your dedication. The secret to success is to keep forging ahead. Learn to adopt patience, and analyze both your successes and your failures. Every new business is a learning experience. If you dwell on your mistakes, you’re only lowering your self-esteem and confidence. Make it a habit to approach stubborn challenges from a new perspective.
Don’t be afraid to ask for help either. It’s more mature than nursing your pride. Experienced people such as successful business leaders may be able to point you in the right direction. Hire a consultant or project manager if necessary. Establishing relationships with such people could also expand your network of industry contacts
When your e-commerce business becomes stagnant, it’s time to focus, not get depressed. Analyze where the problem starts. Evaluate your problems with a disciplined attitude of first assessing the risks and rewards, and persist until you find a beneficial solution.
Rethink the way you present your products and revisit the marketing and promotion of your brand. Find advice, learn something new, and with enough persistence, your company will start growing again.
What’s your best tip to stimulate growth? Tell us below or tweet us!