October 23rd, 2017

Growth Hacking

Having an online store is a terrific way to create a passive income source. Focusing on the products you are selling can help grow your business and increase your reach. But are the products in your store too diverse?   

Analyze what it is your business provides and customize your store to reflect your clientele. Providing too many products and options can create a “deer in the headlight” situation. If a potential customer visits your store because of your fantastic marketing but then loses track of what it is they originally wanted, that is a lost sale.  

It’s OK not to be the Biggest  

Let’s discontinue the notion that you are somehow competing with large name brands. No way, don’t flatter yourself, you can’t compete. Large companies have logistical frameworks, teams of marketers and sales reps, they even have brand recognition. Trying to compete at the same level will drive you insane and most likely, your business will fail.   

Start small.  

Listen to Your Customers  

Every big business had to start somewhere. Stay focused on your niche offerings and keep your base happy. Your customers are your most important contacts. Unlike the largest of companies, you will have the time to converse with them. And because they have already bought your product, any feedback offered will be invaluable.   

Conversations with early clients should be structured as if you are talking to a consultant. Offer quizzes and surveys for them to fill out. USe giveaway discounts and incorporate strategies to encourage ways to pick their brains.  

How About Those Star Ratings?   

Especially as a new store, these are your lifeblood. Encourage reviews and actively respond to them. If there is a negative review, get to the bottom of it immediately. The earliest reviews are inherently more important than later ones. Focus your energy and resources on keeping your early adopters happy.  


Start a Conversation on Social Media  

Talk to customers and potential customers via social media. Keep your social media conversations public and friendly. Let your followers see how you engage with customers. If there is a problem, your quick and professional replies will make your business more trustworthy.  


Retweet and follow people who tag you. Make jokes on your account and thank others for buying your product. Create a persona that humanizes your business. People want to buy products and if they are already interested in your niche, engaging in friendly conversations will only encourage them to purchase from your store.  


Focus on What You Sell  

Engaging with your customers on social media and listening to what they have to say can quickly become a laborious exercise. It takes time to read through surveys and respond to social media chatter. This is where having a streamlined and simple product line will be helpful. Instead of focusing on maintaining your many products you can instead focus on your customers.  


Maintain the community and niche you find yourself in. Engage with your customers and potential leads. Focus on building up your Email list by only selling what you know you can sell. This part takes time and many business owners rush too quickly in diversifying their store.  


Avoid Detracting Items  

Avoid selling products that detract from your overall brand. These can be tacky things like pens or uninspiring stickers. Customers can quickly sense when a business is only selling cheap merchandise to nickel and dime them. Stocking your store with these products can end up hurting your brand.  


Make Payment Easy 


By far, the most time-consuming process of buying a product is checking out and purchasing it. Finding credit card payment platforms that facilitate the buying process will only help your business. Avoid using unknown platforms or building your own. The transaction fees are terrible and nobody likes them but compared to what?  


Money is important but having happy and repeat customers is how you grow your business. It can be a hard pill to swallow but easy and fast payment software, like Paypal, will make your website look and feel more professional. Popular payment platforms already enjoy high levels of consumer trust and it will benefit you to use their brand recognition to sell your own products.