Creating a marketing strategy for your online store requires careful planning and precise execution. To begin with, set the base with achievable and measurable goals and build the rest of the strategy on it. Let’s take a look at the process.
Align business and marketing goals
First of all, you need to have a clear understanding of your business and the value that you are offering through it. Then decide on a set of time-bound marketing goals to complement the business goal. Remember to set marketing initiatives that are achievable and measurable. This way, you can review them at regular intervals and make necessary tweaks as you progress.
For example, if you’re into apparel retail, some of the achievable goals could be in the following list. You may want to put numbers to these goals as well, based on the capabilities of your store.
- Generate good traffic
- Increase the conversion rate
- Bring in a solid number of new customers
- Create a strong social media fan base
- Get featured in influential blogs, magazines, etc.
- Improve the rate of returning customers
Identify target audience/potential customer
This is not a very easy thing to do if you have a diverse range of products in your store. A good marketing strategy is all about identifying specific targets to the most personalized level. In that process, you make each of your customer feel that your products are exclusively meant for them. This requires quite a lot of market study and analysis, but end results are definitely worth the effort.
There are many ways in the current digital landscape to pinpoint to the precise persona of a potential target. Once you clearly understand the target customer for a particular product, you can reach out to them. For this, you have to further analyze what they search online, how they search, what keywords they use, etc. After getting control over the customer’s psychographic data, you can start targeted campaigns.
Some of the tools that maybe of help are:
Create focused campaigns
Now you have a clear idea of your target customer and where to find them. The next step is to send the message across effectively. You can gradually build a reputation for your store and products in a way that catches the attention of the target market. You can also use different advertising channels and social media to reach out and sustain a fan base. Furthermore, you need to evaluate how effective your campaigns are, and make adjustments wherever needed.
This is where the goals you set at the start transform to results. You should have specific conversion goals at different levels on your store. For example, you may want to convert site visits to successful orders, or lead visitors to a particular product page. Any deviations from the projected goals are easily recognizable on your conversion metrics. In addition, optimize any UX/UI design patterns that negatively impact the actualization of your conversion goals.
Ensure customer retention
At the start, store-owners and managers are more enthusiastic in converting new visitors into customers. Retaining a loyal bunch of customers is equally important. Your store’s layout and checkout flow are crucial aspects that determine how much a customer wants to come back. However, consistently rewarding loyal customers with tailor-made campaigns in specific channels might ensure the long term success of your store.
Use the results to devise the next strategy
Every marketing strategy should be a learning opportunity that leads to a better strategy for your store’s growth. Carefully study the metrics of your successful campaigns and use them to improvise your upcoming marketing initiatives.
Always remember there is no formula for a perfect marketing strategy. A successful strategy for a particular product or category may not work in another, if you blindly adopt it. The trick is to follow a trial and error approach until you find the perfect pitch suited for your customer base. Getting the fundamentals right will always give you room for creative experimentation. Happy Selling!