Scenario - Sales Lifecycle
To successfully operate an eShop, you need the following key steps: understanding the 4 major KPIs, promoting flagship products, sharing promotional campaigns, achieving quick checkout, designing discount and promotion strategies, and implementing remarketing (including recommendations and return visits). These steps collectively drive business growth and enhance customer loyalty, forming an online retail ecosystem.
Significant Increase in Online Shop Traffic
Sales Lifecycle
4 Key Performance Indicators (KPIs) for eShop
Understanding the 4 key performance indicators (KPIs) of online store operations and utilizing them can have a significant impact on the eShop. These include customer acquisition cost, sales conversion rate, shopping cart abandonment rate, and average sales amount. This can help you better grasp the direction of your business, improve efficiency, and create more robust operational strategies.”
Focus on Promoting Specific Products
For SME with eShop, this strategy can be employed, which involves concentrating efforts on promoting specific products initially, rather than rushing into comprehensive brand promotion. The key to this strategy is that brand promotion is a gradual process, especially when your resources are limited.
Promote Flagship Products
Make good use of captivating product videos to showcase the features and advantages of flagship products. A 15-second video can present the product to potential customers, allowing them to grasp its key information in a short amount of time and better understand the product’s value and functionality. This helps build customer confidence in the product and increases purchase intent.
Share and Promote
eShop owners should make effective use of promotional tools and create a tailored promotional mix to maximize benefits. This includes building a brand presence on social media, targeting product promotion through paid advertising, and utilizing email marketing, among others. Integrating these tools helps enhance brand influence and achieve maximum customer attraction, driving business success.
Quick Checkout
Quick purchase links simplify the entire shopping process. When customers click on such links, they are directed straight to the shopping cart or checkout page, without the need to browse product pages or fill out lengthy order information. This saves time, reduces the risk of cart abandonment, and enhances the convenience of purchasing.
Promotion and Discount Strategies
eShop owners can employ various promotion and discount models to effectively stimulate sales. These models include instant discounts, in-cart discounts, next purchase coupons, loyalty point rewards, and upsell discounts. These clever promotion strategies help guide customers at different stages to complete their purchases, increase return visit frequency, encourage them to refer friends for rewards, and raise the average order value, thus driving business growth.
Remarketing (Recommendations and Return Visits)
Remarketing strategies are crucial for business growth. Through personalized recommendations and tailored discounts, we enhance customer return rates, reduce cart abandonment rates, and increase average order values. Encouraging customers to engage, refer to friends, and build a professional image on social platforms further expands the customer base. Membership reward programs incentivize continued purchasing and offer future discounts and rewards, solidifying customer loyalty. This comprehensive strategy helps build strong customer relationships, drive performance growth, and maintain a competitive edge.
