Wednesday, January 16, 2019
What’s growth hacking
Are you looking for ways to scale your e-commerce business and gain 10x more revenue? Then growth hacking is something for you!
Growth hacking is a data-driven methodology and collection of smart marketing techniques focused on reaching scalable growth of businesses. Grow fast while spending less time and money. That’s what growth hackers do (in a nutshell).
The formula for success is based on continuous testing and optimising anything you do. Then you need to document all the learnings you’ve collected during this process to apply to the next projects (so you don’t make the same mistakes again!). Thanks to this approach you can unlock the potential to grow.
Our favourite 3 growth hacks for e-commerce:
Tap Your Most Satisfied Customers For 3rd Party Reviews.
What’s better than excellent reviews on your webshop?
Excellent reviews all over the Internet!
Ask your customers to leave their reviews on an external site. Of course, not everyone will be as flattering as you’d like. The danger of asking people to leave reviews on 3rd party sites is that unhappy people tend to be more vocal than happy people. That can lead to a negatively skewed representation.
But what if you could skew the review process in the other direction? Here’s one way you could do that.
Send an email to your customers asking them to rate you. Send them to a landing page where they can simply rate their level of satisfaction with your service on a scale from one to ten.
Now here’s the trick. If someone rates you below a 7, let a feedback form appear where they can vent their frustrations directly to you (instead of publicly). If they rate you above a 7, on the other hand, let some links appear asking them to do you a favour and leave a review on a 3rd party site. If they are as satisfied as they say they are, the chances are high that they will be willing to do that.
You have to take it personal
Is your customers’ shopping experience personalized? If not then the good news is you can easily fix this and win your revenue. There are multiple ways to do that. You can start with simple things like displaying your customers’ name on popups or in the header of your webshop.
Next up you will have to dive deeper and put some data to work. Cross-selling, upselling, personalized transactional emails or abandon cart reminders based on your customers’ data and machine learning can bring you results you’ve been dreaming of.
There are a few tools out there that are tailor-made for e-commerce businesses. They make it possible to “zoom in” the view of each individual customer. This means you can go a few levels deeper with personalization.
If you use tools that provide you with individual customer tracking you’ll have access to a detailed timeline of each customer: which products they visit/purchase/abandon, how long they stay on a product page, and much more.
There are countless possibilities to make use of this data! For example, you can set up an automation triggered when someone buys a specific type of jeans. Then the system will send an email to this person with a special offer for a T-shirt that would perfectly go with the jeans your customer just purchased. This way you make sure your customers buy more because the offer is perfectly tailored to their needs.
Look at Your Internal Search Reports to See What People Want
We know it’s hard to understand what your customers need. Unless you’re a mind reader ?? The rest of the population needs to use technology.
Which is even better since a mind reader is just a human who sometimes makes mistakes. Data doesn’t. Data tells the truth as it is. You should rely on it.
So if you want to know what your customers want and react on their needs make use of the massive amount of information they leave on your page. In this case - search bar.
If your store has an internal search set up properly, you can examine your internal search reports to see what people are looking for but not finding.
This will give you great insight into what kind of products people are after so that you can add them to your selection.
In addition, you can see from your Products Never Purchased report what products you have for sale that nobody is buying, and then try to figure out why.
Do you need to adjust the prices? Are the photos poor quality? Should you simply remove them from your selection and focus on products that perform well?
If you ask yourself this kind of questions and find your answers you’ll see results very quickly.
Chris Out, Lead Growth Hacker at RockBoost and
Rutger Buijzen, Managing Partner at DotControl