How have popular start-ups, such as Dropbox and Airbnb, risen exponentially in such a short time? Why are they so rapidly growing? What can you learn from these businesses about Ecommerce Growth Hacks that your eCommerce business will benefit from?
Such fast-growing businesses share a common denominator: growth hacking. The idea of growth hacking is to build a marketing plan to help a company expand in ways that are scalable, observable, and sustainable. Development can be balanced by the rise in clients, market share, and income in most companies.
We will be discussing the idea of eCommerce development hacking today. For eCommerce stores that want to concentrate on low-cost yet creative alternatives to conventional marketing, such as using social media instead of printing and television, growth hacking is especially relevant.
Let’s explore the 10 Ecommerce Growth Hacks!
1 – Exit Intent Pop-ups
An average of 60% of visitors would leave an eCommerce website and never come back again. If you want to expand, the places where you lose potential customers should be stopped.
Retain leaving visitors with exit-intent technology. Using a popup type, this technology catches visitors until it senses that they are about to leave without purchasing your site.
It is recommended to display an exit-intent popup for eCommerce stores with an enticing last-second reward such as discounts or freebies to motivate tourists to stay and make a purchase.
2 – Controversial Contents
The word ‘controversy’ has a negative connotation, which is why most brands stay away from it. You can, however, use controversy to upscale your online company with careful planning. Controversy attracts attention when an emotional reaction is elicited. In going viral and amassing a sizeable effort, this is critical.
By utilising or discussing controversial subjects, you can refurbish your content strategy. By questioning theories, standards, values or behaviours, the correct way to be controversial is to stir debate. For instance , say, asking if there’s life after death. Then, out of that topic, build content.
3 – Giveaways
To get people talking about your eCommerce shop, a giveaway campaign is a perfect starting point. The idea is to use data to make an educated decision as to how your giveaways will be released, what platforms to use, and how easily you can promote them.
4 – Video Marketing
With a predicted 81 percent explosion of all consumer web traffic by 2021, videos are one of today’s most viable types of marketing.
Because of its probable virality and simple shareability, the explanation why video marketing works is. Audiences worldwide are looking for videos because they are much easier to view and digest than written content. Plus, it’s a lot more funny.
5 – Social Proofs
Reviews, actions, and comments by real people can be incredibly effective drivers of revenue. That’s what social evidence is all about. The idea is that showing the number of social followers, fans, opinions, likes , and comments will have a positive effect on how your online shop will be viewed by potential customers.
6 – A/B Test
To grow, one must first recognise the opportunities for growth. A / B testing is a common practise among eCommerce professionals because it helps them to understand how the overall output can be affected by such adjustments to a minor element of an existing procedure.
A / B testing is used to compare the performance of different versions of a campaign against each other; two test groups, for example, will receive two different versions of an email campaign. While there are many ways to use A / B testing for the benefit of the eCommerce store, here are three tests that you can use to hack development:
- Price Testing
- Product Recommendation testing
- CTA testing
7 – Scarcity and supply
Supply and demand are the two fundamentals of economics, which is why the application of scarcity and urgency techniques is critical for successful ecommerce growth hacks. Scarcity is the idea that a brand is about to run out due to insufficient availability. While the psychology of urgency is that a commodity is essential enough that more people are calling for it and it will be sold out some time soon.
8 – Members – Only Perks
Customers love exclusivity, thus the word “VIP only.” Members will know they are valuable to you, whether it’s first access to new items or exclusive discounts. This will help you, in turn, drive brand loyalty, retention of customers, and satisfaction.
You can easily give away access to promotions and discounts, but if you build them as members-only benefits, there is a big difference. Why common bars use member-only access and set up a long queue is the same concept. Your offers and promotions will become more appealing and arouse interest. You may define sales as members-only, for example, and then block non-members from finishing a purchase unless they sign up.
Jeevan Babu is a technology enthusiast and strong believer in agile product development. He is a Senior Project Manager at Fortunesoft IT Innovations a leading custom software development company. You can also consult an experienced Magento development company for all your development needs.