Do you aim to win big? If so, your business needs a powerful toolbox featuring a wide range of ideas, strategies and tech expertise to have a good going in the startup stage. The following post sums up a few growth hacking tips for Magento e-commerce startups.
Hundreds and thousands of e-Commerce sites are being developed day in day out to support the sale of any particular product or service. And the eCommerce economy is further expected to continue its upward trajectory and rapid growth. Hence, for entrepreneurs, it is a golden opportunity to achieve success and sustainability in the market across the globe.
However, with potential comes saturation. Which means the existence of thousands of companies with similar value propositions has become one of the biggest barriers for startups. Based off my experiences, the post incorporates a few high-level tips to be taken into account especially when starting an e-Commerce company.
#1 Niche now, evolve later
Business always starts with an idea. And guess what- more than a hundred others have the same idea as yours. In fact, many of them may have already implemented it online. Therefore, it is required to break the initial ideas down, segment and narrow your focus further. As a result, the competition will be automatically reduced. It is always advisable for a new Magento development company to prioritize wisely by focusing on an untapped niche rather planning on doing full-scale e-commerce business and going up against tech giants like Amazon. Initially, focus on the niche market as one can always expand later.
#2 Products require to be virtually appealing
Call it advantage or disadvantage, people can’t touch what you are selling. Well, I personally call it a disadvantage as e-commerce sites are opposed to a brick and mortar brand. So what can be done is? Design your store in such a way that offers an experience like never before.
Design is not just about aesthetics, it’s more regarding the template that has potential to close the gap between virtual and in-person interactions. By placing appropriate product/service imaginary, descriptions and categories can be considered under the most basic level.
Ask your Magento developer to create a platform that speaks through on-brand product descriptions to the things its target demographic cares about. In addition to this, one can add a couple of interesting features through which the gap between a virtual experience and something more touchable and concrete is demolished completely. For example, if you are an upscale home décor e-commerce biz, offer “Make your bed effective” feature so that users can mix-and-match numerous bedding combinations and see what they would look like on an actual bed.
#3 Design is important but not more than functionality
The rule of thumb says, effective and smart design resolves the chasm between a virtual and in-person product experience. Well, true! Design is one of the important aspects but let’s not forget the engine, i.e. its functionality
Performance matters the most. No matter how eye-catching your site seems to be a slow site is unsurprisingly a huge stumbling block for any company. Right from the home screen to the last payment gateway section, an eCommerce store needs to be build keeping speed and ease in mind. After all, it is very easy to build a marketplace today but building one that runs smoothly and efficiently can be the differentiator.
#4 Instead of chasing the trend. Focus on community building
Each year comes up with a new set of trends in the e-Commerce space. Some of them improve business and position us for greater success while others might be for no apparent reason. For example, in gamification, there are companies which have integrated pointless gaming mechanics into their purchase process for no such reason other than to latch onto the latest trend. In fact, many times I have seen a trend ending up becoming a business model of the day. Flash sales and other timely trends might be implemented successfully but they don’t work for everyone they should.
In the real world, blindly trend chasing can be more of a diversion to actual success as things don’t work for everyone and needs to be considered carefully.
#5 Collect as much information as you can and personalize
Developing a great Magento Ecommerce community means speaking to each user in person at the time of pre as well as post purchase. If you have closely observed, any successful looking websites would feature throughout multiple end-user touch points as part of the experience. And each interaction has the potential to drive retention, reduce abandonment, and foster long-term brand loyalty. One of the best examples is Amazon. With every visit, the store becomes more in tune with your preferences.
Last but certainly not the least, keep learning from the Pros. They have earned their status for a reason, plus they have even mastered in getting people buy their stuff.
So this is all for now! Keep watching the space to know more regarding Magneto development for an eCommerce store.