In a nutshell, growth hacking is the task of achieving rapid growth through constant experimentation. It involves both marketing and technical skills. A typical growth marketer usually plays around with plenty of data and runs a series of experiments with the ultimate goal to get more customers for a business. This definition coincides clearly with an eCommerce growth hacking technique. However, another goal of growth hacking is to make a business go viral, so they can help a business grow organically and rapidly.
What is eCommerce Growth Hacking?
eCommerce growth hacking is a reason why only a small number of businesses experience exponential growth. Growth marketing or hacking in eCommerce is full funnel marketing that takes place with the help of rapid experimentation. The primary difference between growth hacking and traditional marketing is that traditional marketers are only concerned with website traffic and a growth hacking team will focus on the entire length of the customer experience and journey.
This means that ecommerce growth hacking teams will focus more on user engagement along with customer experience. They also prioritize instilling the core value of a product in the mind of the customer. However, both terms growth marketing and growth hacking are used interchangeably.
The first difference between the two methods is speed, this is something that sets growth hacking apart, and it is also one of the reasons growth hacking is very popular in the startup scene. Startups are mostly very short on time and they are also under constant pressure from their investors. They also do not have historical data that they can use to support their marketing hypothesis.
They also do not have any records to analyze what has worked for them in the past since they have just stated. The lack of data usually puts startups at a great disadvantage. However, growth hacking leverages the technical skills to help draw customers towards a new business, and these skills relate to utilizing data in a more proficient manner. Below are 5 eCommerce growth hacking techniques that growth hackers use to increase sales and revenue for online stores.
5 Growth Hacking Techniques for eCommerce Sales
The techniques below are based on making customers take action on a website. Before you get started, there are three different types of things that boost eCommerce sales through actionable steps. The first thing you can do is turn your conversion rate, which means that you need to turn more of your customers into buyers. The second thing that you can do is increase the traffic for a website, and the third includes doing both of the above.
Employ Lead Capture
The first eCommerce growth hacking technique would be to employ lead capture on your website. Some people do not like the idea of this because they want to simply sell products and they do not want to capture email addresses. However, keep in mind that not everyone is likely to buy from a website after the very first time they land on the page.
Even if you have a highly optimized eCommerce website, it is very likely that you will be converting a very small percentage of people into sales. This means the majority of potential customers visiting your website are instantly bouncing away without spending any money. Therefore, a lead capture element in this instance can be great if you want to take a shot at those people.
Install a Benefits Bar and a Search Bar
This is another eCommerce growth hacking technique that many people will take advantage of. It involves installing a benefits bar on your website. Adding delivery and urgency information on the benefits bar of your ecommerce website can increase conversion rates. This is because incentives and perks that are put on limited time offers are ultimately very appealing to customers that and subconsciously, many customers fall victim to the subconscious fear of missing out.
This fear often tempts them to make quick purchases. This method also helps in increasing the conversion rate of the first order, and the first order is very different. You may also offer a discount against first orders because they are very important. It is also how you convert customers for repeat businesses.
Similarly, adding a search bar is also an incredible way to increase growth. Having a search bar can give the impression of a professional eCommerce store. It makes navigation much easier, and people can simply look up what they want, which in turn will result in faster sales conversions.
Offer Great Experience
This eCommerce growth hacking technique is very simple, yet highly effective. It involves offering a great experience to the consumers. Think about how a person purchases a product at retail brick and mortar stores. They simply go to a shopping outlet, pick up a product, and judge whether the product is good or not.
Most eCommerce growth hacking attempts fall into the trap of differentiating this buying process in a virtual setting. This is why you have to provide the customers with an attractive, interactive website that displays high resolution pictures of your product.
Have a Paid Ad Channel
For eCommerce brands that have built all their visibility on organic channels for their eCommerce growth hacking strategy, it will simply not be enough. Startups and new businesses need to at least have one paid advertisement campaign to increase their chances of increasing sales. This will not only allow you to level out the inevitable shortcomings of organic marketing but also limits you from the effects of any negative algorithm impacts.
Focus on Organic Traffic
Even though you think paid traffic is important, focusing solely on paid traffic is not a good eCommerce growth hacking strategy. Paid traffic is very costly, whereas organic traffic and SEO ranking can help you attain qualified traffic at a fraction of the cost.
As an eCommerce store, following the right strategy to quickly climb the ranks and increase sales volume will require you to solely focus on eCommerce growth hacking rather than traditional marketing. You can also use influencers to take advantage of their dedicated. Overall, choose growth hacking techniques that suit your business in the best way.