April 5, 2020
How to Attract People to Your Ecommerce Store

How to Attract People to Your Ecommerce Store

(upbeat music) – Although inbound and
e-commerce are similar, they’re too different most
when it comes to goals and key performance
indicators, also known as KPIs. A KPI is a quantifiable
measure to evaluate the success of an organization, employee, and so on in meeting
performance objectives. E-commerce campaigns often
emphasize financial growth and direct attribution more than typical B2B inbound initiatives. Groove Commerce’s e-commerce KPIs include website traffic,
e-commerce conversion rate, average order value,
lifetime customer value, and online revenue. In our experience, creating
a goal-based approach using these KPIs has helped our clients better align specific
tactics and strategies to their bottom lines. To help you with this process, we created an Ecommerce
Conversion Calculator. This tool lets you project how individual performance changes can affect your overall online revenue. Once you’ve clearly defined goals for your e-commerce business, your next step is to outline
strategies to achieve them. Let’s look at these using
the inbound flywheel. The first stage of the
flywheel is to attract. During this phase, brands
generate product awareness with strategies like
pay-per-click advertising, search engine optimization, content creation, and
social media marketing. Next we move on to the engage stage. This phase focuses on
creating relationships with prospective customers and includes both micro
and macro-conversions. In e-commerce, we refer
to micro-conversions as lead capture opportunities, like a newsletter sign-up. These micro-conversions nurture prospects and guide them toward a
larger macro-conversion, like a product purchase. Finally, we move into the delight stage. The aim here is to
strengthen customer loyalty with memorable experiences. When this happens, the
flywheel gains momentum. Customers refer more business
by sharing social proof, user-generated content
and, ultimately, referrals to help you grow better. To reach customers at each of these stages and to move them through the sales funnel, you’ll need to develop a
number of micro-campaigns. These are made up of
small, ongoing activities that support a larger marketing effort. To learn more about e-commerce goals you might consider
setting for your business, check out the article in
the Resources section below. (upbeat music)

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