In the world of online selling, the trends are ever-changing. Knowing the best e-commerce practices for 2022 will give you an edge on the competition and start the new year off with a bang. SmartInsights predicts e-commerce sales in the US to grow by 23.6 percent in the next four years. With the changing nature of e-commerce growth, it’s essential to stay on top of your business practices to maintain its profitability.
The most successful businesses adapt to the changes and implement the best practices with their strategies. As an entrepreneur, your goal is to innovate with fresh new ideas and perspectives. Before the year ends, let’s take a look at the best e-commerce practices that you can use to scale up your business in 2022.
1. Start by creating SMART goals
Setting goals is important for any business at it gives you a clear focus on what to do. But you don’t want to set random goals. You want to set SMART goals that will become the core focus of you and your team.
What are SMART goals, you ask? SMART goals are desired outcomes of your business that revolve around actionable steps. Let’s break down what SMART goals are all about.
- Specific – Setting specific goals is crucial to achieving success. When your goals are clear-cut, you’ll find it easier to focus on what needs to be done.
- Measurable – We’ve all heard the saying “what gets measured gets done”. Ideally, your goals should be measurable so that you can gauge your progress.
- Actionable – Your goals have to be actionable so that you can plan for them effectively. Work on your goals one step at a time.
- Realistic – It’s one thing to set meaningful goals, but you need those goals to be realistic. If not, you’ll end up dreaming about the possibilities and not take action.
- Timely – Your goals should have a specific timeframe attached to them. This helps you prioritize your tasks and motivates you to complete them within the specified timeframe.
By setting SMART goals, you get a better picture of where your business is heading.
2. Reinvest profits into your marketing strategies
You’ve successfully marketed your product/service and you’ve generated profit from thousands of customers. What’s the next step? Reinvest the profit into your marketing strategies. You’ve already built the momentum from your marketing efforts, so why not capitalize on that by further promoting your business?
Think of it like a compound investment where you build even more profit down the line. By reinvesting your profits in your marketing strategies, you get to build upon your success this year and strengthen your future marketing efforts next year.
3. Offer multiple payment options
Customers value the flexibility of multiple payment options because it makes life easier for them. As a seller, you want to tailor your services according to the needs/preferences of your target audience. PayPal is the most popular choice for international e-commerce stores while Stripe, Braintree, and PaymentCloud are great for embedded debit/credit cards.
If you want to offer your customers a buy now, pay later option, Klarna and Clearpay are some good options. Choose a payment option that best suits your e-commerce store and the buying habits of your consumers.
4. Keep track of KPIs
Key performance indicators help online businesses make strategic, data-driven decisions. Thus, you must monitor the key metrics of your online store as much as possible. That way, you can track your progress and evaluate how well your business is performing.
As an entrepreneur, you want to make confident decisions, not irrational ones. Feelings can often get in the way of good decision-making, and to avoid this, you must let the data drive your strategies and not your emotions.
5. Use email marketing
There’s a common misconception that email marketing is dead. But this couldn’t be further from the truth as email marketing is crucial to building relationships with your leads. Without it, your conversion rates will drop, and you’ll find it challenging to connect with your audience on a personal level.
Sure, social media marketing is more impactful, but it doesn’t take away the value of email marketing. That’s why you should build your email list to establish deeper connections with your potential customers.
6. Make your website mobile-friendly
A good website is the backbone of a successful e-commerce store. If your website looks clunky and loads slowly, expect your site visitors to leave in a matter of seconds. You don’t want your marketing efforts to go to waste due to a bad website, so make your website as mobile-friendly as it can be.
The vast majority of customers today use their smartphones to look for products/services. Your website must be optimized for mobile devices so that your site visitors can have a good browsing experience. This makes it easier for them to find exactly what they’re looking for which is what boosts your brand’s credibility.
7. Write excellent copy
When it comes to creating product listings, your goal is to write clear and concise copy. Don’t be tempted to jam the product description with all sorts of keywords as this will affect your listing’s visibility. What you should do is highlight the features of the product and answer important questions your customers may have.
When a customer reads a bad copy, they instantly perceive the seller as unreliable. Most importantly, you want to be consistent with your descriptions across your products. That way, you can communicate effectively with your target audience.
8. Upload videos to your listings
While we’re on the subject of listings, let’s take about product videos. Product videos provide customers a deeper insight into what your product is all about. It’s like recreating a physical shopping experience where they learn about the product in their hands.
When creating product videos, you should keep them short and sweet. Focus on the features that matter to your consumers. The key is to create engaging videos that will help customers get a better idea of what your product is capable of.
9. Opt for faster shipping options
Customers associate faster delivery times with a reliable brand. Online shoppers have this gratification itch where they want their package to arrive as fast as possible. By committing to faster shipping options, you prove your reliability as an online store, and you build trust with your consumers.
Of course, you will want to weigh the costs to determine whether faster delivery speeds are worth it or not. But in most cases, your customers will thank you for it, and they’ll end up as repeat customers down the line.
10. Go where your audience is
This practice may seem a bit obvious, but it’s surprising how many e-commerce stores overlook this. To generate the most sales, you have to be where your audience is. For example, if your target demographic is 18-25, you’ll most likely see them on TikTok and Instagram. You want to focus your marketing efforts on the right platforms to get the best results.
The good news is that there are plenty of tools online like Wynter and Userfeel where you can learn more about your target audience. Take advantage of these tools to maximize your marketing efforts.
11. Create a referral program
If you want to win more customers, then you have to create a referral program. A referral program encourages your existing customers to bring in new ones by incentivizing them. The incentives can come in the form of discounts, coupons, or gift cards. The great thing about referral programs is that you establish stronger relationships with your existing customer base while drawing in new clients.
A referral program also helps get your brand out there. For small to medium-sized businesses, this is a marketing tactic worth considering in 2022.
12. Elevate your customer service
There’s more to building a reputable brand than just selling a great product. You have to back that up with excellent customer service to maximize your customer retention rate. You’ll notice that the top online brands have a loyal following of customers, and that’s because they offer exceptional customer support along with their high-quality products.
How do you improve your customer service? By asking for feedback directly from your consumers. Take the time to understand their needs and concerns. Be swift with your response times and always make sure the customer is satisfied at the end of a call. These small changes will make a huge difference in the overall perception of your brand.
13. Take advantage of Google My Business
Here’s one practice that will drive traffic to both your website and your physical store; setting up Google My Business. What it is is a free tool that lets you display important information about your business like the website, contact information, address, and more. Google My Business is great for search engine optimization as it helps you appear on top of the search rankings.
The tool is free to use, and every business should utilize it to improve its visibility in search engines.
The new year is fast approaching. Are you preparing your e-commerce for what lies ahead? By implementing the best e-commerce practices for 2022, you’re putting your business in the best position to succeed. Make sure to follow these practices and implement them into your strategies next year. That way, you can maintain the profitability of your business and scale it to new heights.
If you’re an e-commerce store that needs help with financial or bookkeeping services, our team is here to help. Simply fill out the form below and our team will be glad to assist you.