What if instead of keeping an eye on the market trends and on competitors you would concentrate more on what you can easily change and manage: your e-commerce store? Inward looking strategies are a great way to capitalize on what you already have and to improve your business in the long term.
Inward strategies are also great budget optimizers. You have already spent a lot on bringing new traffic to your website and you want to design a different strategy? Improving your existent assets could be the much needed solution.
Inward looking strategies can go in three directions:
- Improving your site
- Connecting better with current customers and website visitors
- Promoting products and sales to visitors that come on site through long term traffic sources (organic traffic, social media traffic)
This type of strategies is based on analyzing thoroughly, testing and drawing conclusions. Once you have decided that you want to do more for current visitors and not to run after new visitors, you can try one of the next strategies:
1. Content creation. This can be done in-house. Use your knowledge on the products and the services that you are selling to create interesting content: guides, blogging articles, whitepapers and newsletters. All these can build brand awareness, and increase customer engagement.
2. Conversion optimization. Conversion tactics will improve sales path and will give you testable and trackable ideas about how to make a larger part of your visitors buy your products.
3. Real time targeting. Combined with customer behavior analysis and segmentation, real time targeting is a beautiful technique that will increase sales. The main idea is to identify visitors that would be more responsive to a certain type of offer, and to answer to their expectations through well-thought-out offers and sales.
4. Pricing. Testing different prices without affecting your price policy can be tricky. Nevertheless, a small increase in prices can raise your revenue and balance your investments, without scaring customers. The important thing is to test these price changes.
5. Online surveys. These are a great tool for finding out more about customers and understanding visitor’s intent. When you have your feedback and you understand what changes would help you close sales more easily and frequently, you can start to adjust your online marketing strategy accordingly.
6. Emailing campaigns. Email is still the channel that converts best. Try to use it more and better. Personalize e-mails, send meaningful information and nice offers to customers. Remarket if necessary.
7. Online copywriting. There are always new approaches to copywriting that you can try. Remember those product descriptions you never had time to personalize or develop? This could be the time to do it.
With all these strategies and tactics in mind, be sure to get the most out of your current assets (your website, your blog, and the data you have already gathered) and to engage more the existing customers.