In ecommerce, paid advertising heavily drives growth. But competing on price and budgets isn’t the only way to win customers.
In just four years, beauty brand Frank Body grew its ecommerce brand to over 80,000 visitors per month and $20 million in annual revenue in a highly competitive marketplace with little-to-no marketing budget.
How? By focusing on content marketing.
In this article, you’ll learn about efficient content marketing strategies to win customers and engage your audience. We’ll also provide a framework based on the marketing funnel to help you identify where specific content fits in your marketing plan (or where you may have content gaps).
Two percent is the average conversion rate for ecommerce sites. While every site is different—and you’ll benefit far more by focusing on your conversion rate—that’s where most sites are today.
But what if a 2% conversion rate isn’t enough to stay profitable?
Your ecommerce checkout flow is where the money is at. Think about it. Random visitors leave the site before ever entering the checkout funnel. Motivated buyers come here to finish their order.
Any small design improvement in your checkout UX usually has a direct impact on how much money your site makes.
An ecommerce site that I analyzed recently had a payment page in which 84.7% of the traffic proceeded to buy. I calculated that if we could increase that to 90%, it would result in 461 more orders and an additional $87,175 per month—23.9% revenue growth. “Small” gains can be huge.
Many are familiar with the digital darlings that market directly to consumers—Warby Parker, Away, Allbirds, etc. But the B2B ecommerce market is growing exponentially, estimated to reach $1.2 trillion in transactions by 2021.
In my daily work with ecommerce brands, I see two types of companies:
- The first type focuses on acquisition and conversion.
- The second relies on retention.
The second type is winning. Why?
I don’t have to convince you that email is important:
- Email is a cost-effective way to get sales. Converting customers from your mailing list costs less than converting the same number via advertising.
- Email includes your most-interested customers. The majority of your list is composed of people who’ve already placed an order, so you know that they’re willing to buy (though it still takes effort to win back customers.)
- Email maxes out revenue from big sale periods. Black Friday and Cyber Monday sales represented $123 billion in revenue in 2018. And, according to Klaviyo, emails initiated 30% of those sales.
But do you work on your email? Is email an actively managed and QA’d operation in your business?
Earlier this year, at CXL Live, you asked us about voice search (a lot). More specifically, you asked the hard questions, like:
- How can ecommerce companies compete with Alexa?
- How will voice search work given the human urge to shop around?
- Are there use cases for voice search in B2B?
This post has answers. They range from straightforward technical optimizations to complex, long-term efforts to differentiate through a superior consumer experience.
There’s nothing that always works and pretty much nothing that never works either. Websites are highly contextual.
That being said, there are tests that tend to have a very high win rate. These are the test ideas that, while they don’t work 100% of the time, work more often than not.
Naturally, everything depends on the specific implementation — a good idea implemented poorly will not yield any results.
The following 20 testing ideas come from our own client-based research done over the years.
Selling high-end goods, services or experiences isn’t the same thing as selling the low and mid-tier alternatives.
And in the 1990’s, Ford Motor Group learned that the hard way. They bought high-end car brands like Aston Martin, Jaguar and Land Rover thinking they would be able to successfully grow these brands using the same marketing and operational methods that made Ford so successful.
And for nearly 20 years, Ford’s luxury division lost money until it was sold off in 2007.
The key learning here was that the techniques that work for mass-market products don’t work for luxury goods or services.
In the pursuit of sustainable and consistent ecommerce growth, we look to many places: content, SEO, Facebook, Instagram, paid acquisition, new channels, growth hacking.
But rarely do we turn the focus to our own website and ask, “how can we improve our own ecommerce user experience to drive growth?”