There’s no denying that e-commerce offers huge profit potential – it’s estimated that the retail e-commerce market will reach $7.4 trillion in sales by 2025. But it’s also an incredibly competitive market, with more companies entering the fray to try and get a slice of the revenue pie. In fact, there are approximately 24 million e-commerce sites worldwide – and that number is only growing. For these companies, unlocking the secret to sustainable growth is more important now than ever. This is where a growth marketer comes in.
Ahead, we’re exploring 5 business growth strategies to help your e-commerce business drive sustainable growth through data-driven testing and optimizing.
What is Growth Marketing?
Growth marketing is a strategic approach that focuses on driving sustainable business growth through data-driven experimentation, optimization, and iterative marketing efforts. It integrates a variety of marketing strategies that we’re about to get into, like SEO, content marketing, and social media marketing.
So when you’re thinking about “what does a growth marketer do?” it’s important to break down the goals and benefits of this approach:
- Acquiring and retaining customers
- Increasing brand loyalty
- Boosting revenue by understanding, engaging, and delivering value to customers at every touchpoint
- Improving efficiency and cost-effectiveness
1. Use SEO as the Cornerstone of Your Marketing Growth Strategy
Search engine optimization (SEO) forms the foundation of growth marketing. This process includes:
- Website optimization for better visibility on search engine results pages (SERPs)
- Driving organic traffic
- Expanding business reach
Many customers start their purchasing journey on search engines – Gen Z especially, with 38% of Gen Z customers using Google as their starting point. By partnering with a growth marketer that has proven experience in SEO, e-commerce businesses can enhance their visibility and connect with a wider audience.
The cornerstone of SEO encompasses a range of practices, including keyword research, website optimization, backlink building, creating high-quality content, and optimizing product pages.
2. Reach Your Target Audience Through Content Marketing
Another effective weapon in the arsenal of a growth marketer is content marketing. This tactic revolves around creating and distributing valuable, relevant content to attract and retain a clearly defined audience. The power of content marketing can establish your brand’s authority, build trust, differentiate your business from competitors, and attract traffic to your website.
Email marketing, for example, is a valuable content marketing tool for any e-commerce growth plan. This strategy offers cost-effectiveness, excellent return on investment, customization, targeted reach, measurable results, and higher customer engagement.
3. Build Your Brand With Community Building and Influencer Marketing
Creating and fostering a community of loyal customers and brand advocates is another key growth marketing strategy for e-commerce businesses. These strategies provide direct feedback, invaluable insights, and opportunities for improving your business. A growth marketer knows how to foster this community aspect by leveraging interactive platforms such as social media groups and online forums. Additionally, implementing loyalty programs, exclusive promotions, and encouraging user-generated content such as reviews or unboxing videos can nurture a sense of belonging and create brand advocates – all while strengthening the relationship between your brand and your customers.
Influencer marketing is another opportunity in a marketing growth strategy. Leveraging the popularity and reach of influencers can foster brand loyalty and long-term customer relationships. Finding the right influencers to partners with comes down to making sure they align with your brand values, target audience, and goals. Some failed marketing strategies happened when these values didn’t align and brands came out looking inauthentic or insensitive (looking at you, Pepsi x Kendall Jenner collaboration).
4. Meet Your Customers Where They Are Using Paid Advertising
Paid advertising lets you specifically target your potential customers, thereby increasing your reach and visibility. Through platforms like Google Ads and social media channels, an e-commerce growth marketer can position a brand’s products or services directly in front of the most relevant audience – this can help drive highly relevant traffic.
These paid advertising campaigns can also be meticulously tracked and adjusted in real-time, making it one of the most effective growth marketing strategies for boosting ROI. By enhancing brand visibility and fostering immediate sales opportunities, paid advertising plays a critical role in accelerating e-commerce business growth.
5. Harness Business Intelligence and Analytics for eCommerce Growth
The importance of analytics in any growth plan cannot be overemphasized. Monitoring and analyzing customer behavior data gives you insights into your strategy’s effectiveness. A growth marketing agency should be proficient in using either proprietary tools or ones like Glew Analytics and TripleWhale to create an all-inclusive dashboard. Merging data from multiple sources and getting a cross-platform look at marketing performance can help growth marketers extract actionable insights to optimize your strategy.
Some key metrics your e-commerce business should track include:
- Average order value
- Customer lifetime value
- Shopping cart abandonment rate
- Average inventory sold per day
- Sales conversion rate
Partnering With the Right Growth Marketer
Implementing a growth marketing strategy is a complex task, requiring a diverse range of techniques and constant monitoring. However, the potential rewards make the effort worthwhile.
This is where partnering with the right growth marketer matters. A growth marketing agency like Taktical offers a range of services, including content marketing, paid social marketing, and professional SEO services that can significantly improve your e-commerce growth trajectory. With Taktical’s expertise, you can identify and leverage the most effective tactics, ensuring you don’t miss out on growth opportunities as together we drive sustainable growth, build brand loyalty, and improve customer LTV.