Different e-commerce businesses come with their challenges. But most of the advice we get only scratches the surface. However, those who have made it in the industry have indispensable knowledge and experience.
Salim Elhila has found great success in e-commerce. He was attracted to the industry due to his thirst for freedom. Salim started by selling trendy products. Based on that business, Salim was able to pivot into something more fulfilling. Now, he uses his digital marketing and business knowledge to teach others how to create online successes. In this article, we will dive into some of Salim’s critical strategies.
1. Instill trust
Earning trust takes time. As an entrepreneur in the e-commerce business, you should not aim to make quick cash. Instead, to run a sustainable business, you always have to keep the customer in mind. Therefore, you must embed the necessary investments to make sure that the customer is happy. Statistics show that 54% of the time, customers will click over an online store from a positive review. Drawing ratings and reviews on your product page is a time-tested and straightforward way to turn more site visitors into customers. Before getting those reviews, customers have to be happy with the product and the process. Something like following up with customers post-purchase is a great way to improve the customer experience.
2. Get your technology right
With advancements in technology, your ultimate goal should be to ensure that your website works correctly. Websites should be compatible with all mobile devices. Clients should be able to find anything seamlessly, at the click of a button. Also, customers must be able to track their orders, find the best deals, and make payments easily. The use of artificial intelligence can make a significant impact on your e-commerce sales. With AI, you can collect information and accurately predict how a customer will react based on past behavior. You can also measure things like conversion rates, bounce rates, and engagement rates. These provide valuable insights into the effectiveness of the site. Using data-driven approaches will help you become strategic and adjust when needed.
3. Working on your sales funnel
A sales funnel defines each step that someone has to take to become your customer. You must map out the entire process of a client journey: from the time they become aware of the product, to when they evaluate and make the purchase decision. Depending on the type of product or service, the process might be short or long. Regardless, keeping the process simple is crucial to ensure that customers follow through to the end. The success of the sales funnel also depends on the messaging at each stage. Consistent messaging is vital. With a clearly defined sales funnel that is easy to narrow down to the target customers, marketing campaigns become more productive.
4. Secure your supply chain
While order fulfillment will take place behind the scenes, this part of the process needs proper execution. If something does not go right on that end, there is a possibility that the customer will feel the effects. Most organizations have only 20% visibility into their supply chain. An optimized supply chain maximizes value for your bias through faster production cycles and product delivery. Furthermore, a good supply chain solidifies a competitive edge for your business.
5. Being cost-effective
Many costs relate to marketing and running promotions. Sadly, in an attempt to increase sales, many entrepreneurs resort to cutting their gross margins with excessive product promotions and ads. All e-commerce businesses feel the pressure to lower prices, partly because of the competition in the market. Having a strategy to compete on factors other than prices will help you build a sustainable business.
Salim Elhila has started multiple successful e-commerce businesses. Currently, he helps other entrepreneurs learn how to run businesses effectively. He created a mentoring program that, in as little as 4 weeks, can take a perfect beginner to make more than 1k Euros per day. His company Learning Master, which he co-founded with Djibril Mara, helps people create online coaching, consulting, and service businesses. Check out what Salim is doing here.