6 Tiny Reasons That Indirectly Affect eCommerce Brand Growth
Many businesses exist in the world, and most of them are suffering because of these 6 reasons.
1. Competing with the brands:
Many businesses exist in the market, so if we compete with them, we will not be able to achieve long-term success.
To avoid competition, you can focus on a new category or your brand should be something new or an upgraded version of an old model.
When you create a new category, you can be the first brand, which allows you to avoid your competition or compete with other brands.
2. Providing regular offers can cause your business failure.
What happens when we provide offers regularly? The
Our customers will not buy if the price is without an offer. So we need to avoid providing the offer on a regular basis and you can provide on a weekly basis resorting to only 3 times.
There are sometimes bigger issues when you don’t provide an offer on retargeting ads. People don’t get converted compared to when you provide an offer.
You can provide some little offer on retargeting ads like 5% 10% or 15% at least.
Train your customers that you will provide offers only during some festive season.
3. Spending a lot of money on ads without optimizing the customer journey on the website:
What happens if many businesses focus on ads to get more people, what happens since the brand is new, people don’t convert on the first visit. Also, they may need more things to know more about it.
We may forget to optimize by looking at how much time they spent and other analytics data. Here is an article on what to do when we don’t get sales.
Where people are leaving, how much time they are spending, and more details on analytics. Those things will help you to understand your customers and how to behave on your side.
4. People don’t just buy your products.
Nowadays, people engage with brands that provide value because they don’t just buy the product.
You need to communicate why you exist in the market and also your beliefs. Take Apple as an example; they communicate what they believe. Here is the Apple statement.
Also, it would be best if you communicated how your product can fit your customer’s lifestyles. So you need to communicate the value proposition, point of parity, and point of difference via images or videos to show how people can relate the products to lifestyle.
5. Focusing on short-term revenues:
When people launch a business, they need sales to keep growing it. Without sales, the business doesn’t work.
Many businesses focus on getting more revenue in the short term so that they will spend more money on ads and they will not spend time on improving the customer journey, lifetime value & average order values.
By doing these things you will get sales in the short term, but what happens is you will get more sales and then again your sales will drop when you drop or when you stop doing anything.
The growth looks like the below graph. I wrote a detailed article on how short-term revenue affects brand growth.
To be successful for a long time you should focus on content marketing and omnichannel marketing. You can use Facebook ads as a customer acquisition channel and then you can use email marketing and social media marketing to engage your customers.
6. Standing for nothing
As a brand, we should stand for something because people will not be able to remember your brand for all the categories.
From the beginning, you should own a word in the customer’s mind. So that when you narrow focus customers will remember you and you’re here to help people remember about your brand.
Here is an example of how we can try to figure out the gap in the market & try to stand for something like high price & elegant classic.
