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When I think about e-commerce bc data hong kong package business models , I know that it takes a lot of effort and money to gain a customer. What does that tell us? That the opportunity to make real business is in repeat purchases or customer retention. So how can you get that same first-time customer to start becoming a repeat buyer and then refer someone else to you?
The solution to this question lies in the growth system that we have developed at Impulse and that we have been implementing with different business models, including e -commerce , to help them grow. And in this guide I will explain to you step by step what it consists of.
Understanding the market
Traditionally, once you've invested in setting up an e-commerce business model , the next step is to attract traffic. And the first thing you think about is creating ads, whether on Facebook, Google, YouTube or Linkedin; in other words, more investment.
I'm not saying it's wrong, but what we do is think that one ad equals one sale and then we realize that all that investment doesn't necessarily translate into a return.
There are different ways to generate income without having to invest only in ads, as long as we understand how the market is made up. For me, it is set up as follows:
market chart
Only 3% of this market is ready to buy: this is the percentage of people who are genuinely interested in an advertisement, because it is about a product they were looking for.
The big problem is that we think the entire market is in active buying mode and we send the same message to the entire market, when only 3% have the intention to buy. And what about the remaining 97%? We call it "untapped market".
The unexplored market
This market is divided into 3 categories:
17% are gathering information , meaning they have in mind what they want to buy and are comparing options.
20% are aware that they have a problem, but are not yet in active purchasing mode. This person is not necessarily thinking about buying a product, but is looking for a way to solve a problem.
60% who are not yet aware that they have a problem, but may be a good candidate for a product. This is the largest group and is made up of people who have not yet realized that they have a problem to solve.
The problem with e-commerce is that they seek to impact the entire pyramid with the same message, instead of aligning their messages for each of the stages of the unexplored market .
The system we use at Impulse addresses this problem , because it seeks not only to reach the 3%, but to find ways to start talking to people who are at 17%, 20% or even 60%.
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The Impulse Growth System
The system we use is divided into 8 phases:
1. Identify dream buyers
I know many small and medium-sized businesses whose strategy is focused on the products they sell and not on the buyers they want to attract . In order to identify the best experience you can provide to your buyers, you first have to know them. We must use those insights to attract them and capture their attention.
Nowadays, selling a product-price is very different from selling an experience. If we want to move away from sacrificing margins, we have to start understanding what the drivers are, emotions, fears, concerns or what makes our buyer happy.
>> Discover the benefits offered by our B2B sales service
2. Create a valuable content offer
If I want to target the 60% of the base of the pyramid, I can’t just approach them with a promotion, because this person doesn’t even know me; I have to do it using a high-value content offer . This must have certain characteristics, it must “solve a stumbling block” for our buyer so that it really captures their attention and they subscribe to get it.
3. Get subscribers using a subscription page
If you only focus on 3%, your database will be very small. On the other hand, if you start working on the entire base of the pyramid, you will start to have more and more data , and for an e-commerce, having it is essential.
Entonces, necesitas una manera de captar suscriptores sin necesidad todavía de comprometerlos a comprarte algo. La forma de hacerlo es con el diseño de una página de suscripción en donde puedas pedir uno o dos datos como email, por ejemplo, y, a partir de ahí, ir formando una base de datos que posteriormente vas a utilizar para educar y nutrir.
4. Presentarles una oferta irresistible
Una vez que las personas han sido atraídas y ya las tienes suscritas, es el momento de presentarles una oferta irresistible. Esta es una de las cosas que menos aprovechan los negocios. Muchos de ellos creen que construyen ofertas, pero en realidad las que construyen son muy pobres si se las compara con las demás. Como resultado, no llaman la atención porque no son realmente irresistibles.
Para acelerar el movimiento de las personas hacia arriba de la pirámide tienes que darles una oferta que no puedan rechazar. Una buena oferta irresistible debe aparecer en una buena landing page, donde haya una introducción a tu oferta irresistible, además de contenido de soporte, etc.
>> Descubre los beneficios que ofrece nuestro servicio de agencia ecommerce
5. Implementar canales de tráfico combinando fuentes propias, pagadas y de terceros
Independientemente del tipo de comercio electrónico, los buenos e-commerce no solo utilizan un canal para generar tráfico, sino que combinan varios canales. Utilizan canales pagados, combinan canales de terceros, pero, sobre todo, crean sus propios medios para no depender de nadie.
Si mañana Facebook cae, los negocios que solo dependen de Facebook para generar ingresos pierden porque no han construido otra manera de generar tráfico. Por ello, lo que se tiene que hacer es construir fuentes propias de generación de tráfico y estas se construyen utilizando contenido.
Las fuentes de tráfico están divididas en 3:
Fuentes de tráfico inbound: todas aquellas donde el usuario encuentra nuestro contenido para llegar a nosotros.
Fuentes pagadas: anuncios y demás.
Fuentes referidas: cuando tenemos muy buen contenido, otras compañías empiezan a referir y empiezan a enlazarnos.
Una de las cosas que tienes que saber para poder entender qué fuente de tráfico es realmente rentable para tu negocio es entender estos indicadores:
Costo promedio por cliente
Costo por clic
Costo por lead
Costo de adquisición
Lifetime value
Lo ideal es siempre medir cada dólar invertido para adquirir un cliente (costo de adquisición) para saber cuánto dinero me está dejando ese cliente en el tiempo (Lifetime value).
The way to build traffic sources for each stage of the pyramid is to understand what your users want at each stage in order to deliver the right content to them , and thus move them up the pyramid and become a customer.
However, the e-commerce business doesn't end there. Once you have a buyer, what you need to do is make sure that person has a great experience with your product and turns them into a repeat customer.
But what about the people who don't end up climbing the pyramid? Do we lose them?
6. Educate prospects
In a traditional store, money is sure to be lost because you don't know what to do with those people who don't end up buying, who abandon their cart, or who only browsed.
From our perspective, contacts who didn't complete didn't do so because they didn't want the product. Most likely they weren't ready to buy yet or weren't educated enough about what they wanted to buy, and when this happens, they're likely to keep putting it off.
To do this, we need to implement a nurturing technique. This technique works as follows. If I have a person who subscribes thanks to my high-value content, the next step is to show them my irresistible offer. If they take it, they are directed to the sales mechanism, which in this case would be the check-out process . But if they don't take the offer, this person begins a nurturing process.
In this process, what I seek is to educate the prospect about what he wants to buy but has not yet decided to do so. Therefore, we give him the necessary information to finish convincing him to take the irresistible offer and generate the sale.
To build these nurturing processes, it is important to keep in mind that if people do not buy, it is because they still have a high level of skepticism; that is, they do not trust the brand or are not sure of what they want to buy.
So what needs to be done is to build a mechanism to make that skepticism fall. How? By making the content delivered at each stage increase their trust.
7. Convert them into customers through a simplified purchasing process
One of the bottlenecks in online sales is that there is no simplified purchasing process. People arrive at the website to buy and find a form where they are asked a thousand questions, they have to fill out information, etc. The key to e-commerce is to make this process so simple that you can do it in just one click. This reduces friction and speeds up the purchasing process.
8. Measure, automate and scale
Now that you have a system up and running, it's time to scale, measure, and automate . To do that, one of the levers we use in e-commerce is an email marketing strategy . This is one of the channels that, if used well, can generate the highest conversion rates.
For many, e-commerce is just another channel where they bombard their customers. Obviously, they don't get good results because they use email marketing to spam and saturate their customers with this type of message.
What you need to do is segment, automate and personalize. When you manage to deliver the right message to the right person at the right time, this becomes your best source of return on investment.
The Direct Marketing Association (DMA) says that for every dollar marketers spend on email, the average ROI is $44. This channel should be one of the most efficient channels, but in order to be so, you need to have a good subscriber list or base.
In addition, you have to take into account how to write these emails. It is not just a matter of putting up a graphic and sending it. You have to have a whole strategy behind you to be able to write emails that really generate attention and cause and provoke a purchase.
Finally, the way to automate is by relying on technology. We have integrated and automated the entire process that we have explained and that many e-commerce sites do manually and separately, to put it at the service of our clients.
Our system is not simplified, it can be made as complex as the business model requires. Thanks to measurements at each stage, our team builds experiments to progressively optimize. In this way, the system begins to generate returns without the need to spend effort, time and resources.
Like any business, selling products and services over the Internet has every opportunity to scale in a sustained manner. The key is to take advantage of the opportunities offered by technology, measurement and automation, as well as market knowledge.
At Impulse we are a company specialized in implementing growth systems leveraged on marketing and sales methodologies, processes and technology to guarantee our clients' return on investment.
