If you’re an eComemrce service provider, you know things change fast, but the opportunities are abundant. Last year, global eCommerce sales amounted to 2.8 trillion U.S. dollars and projections show a growth of up to 4.8 trillion U.S. dollars by 2021.
No matter what kind of eCommerce service provider you are… ecommerce seo services, fulfillment services, marketing services, customer service, or are any other service, you’re positioned to take full advantage of this growing industry.
So what are you doing to capitalize on this growth and increase your revenue? Here are three agency strategies to add value for existing clients, capture new clients, and boost your eCommerce services revenue:
- Focus on customer retention
- Use seasonal promotions to drive customer acquisition
- Find a specialization
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1. Focus on customer retention
Acquiring new customers costs five times more than nurturing and growing existing ones. As the old expression goes, “Make new friends, but keep the old. One is silver, the other gold.”
For a growing eCommerce service provider, customer retention is gold — it keeps the lights on and can do even more when managed correctly. Focus on adding value to grow existing relationships strategically.
Visibility is often a concern for any service-based business — and eCommerce services are no different. Build a progress roadmap for your clients. Start the journey by fixing the broken stuff — the low-hanging fruit — and then plan future projects strategically to establish new value along the way.
Focus on growing the account by helping your eCommerce clients achieve tangible business goals. Invite them to programs like the Mobile Optimization Initiative and show the direct correlation to revenue growth through incremental improvements to their site.
By providing solutions to gain efficiency or increase revenue on your clients’ sites, you can show what they could be leaving on the table. Demonstrate how you can help them to continuously tweak and optimize their sites to reach their full potential.
Showing that you have your clients’ best interests in mind, your clients will rest assured that money spent with your agency will have a direct impact on revenue growth and their business success.
2. Use seasonal promotions to drive customer acquisition for your eCommerce service provider business
Customer acquisition strategies are very different from customer retention strategies. The best (and free) way to drive customer acquisition is by asking for referrals from existing clients. That being said, the eCommerce space is competitive and merchants don’t always want to share leads for great agencies with their competitors.
If you have a marketing budget, seasonal campaigns can help attract new clients. Think about how Starbucks positions things differently each season to attract new customers — they’re selling beverages but they spin the drinks differently with the seasons to keep things fresh. Think Gingerbread Latte and Summer Berry Frappuccino. What eCommerce services do you offer that are top-of-mind during specific times of the year?
The good news is that eCommerce has plenty of seasonal trends to capitalize on. Offer an optimization package a few months before the back-to-school season in order to help merchants test and improve their sites for the better. Or bundle several experiments that have proven to work in past holiday seasons and position them as a holiday optimization package.
Don’t forget, merchants start thinking about peak shopping seasons at least six months in advance, so ensure you’re targeting them with winter holiday promotions in June!
3. Find a specialization for your eCommerce service provider business
As an eCommerce service provider, finding a specialization (a niche) is critical to future-proof your business. There are so many innovations happening in eCommerce so why not stake a claim to one or two and build your expertise around it?
Carve a niche with PWA
Many agencies and platforms are placing their bets on progressive web apps (PWA) — these browser-based applications are primed to be the next big thing. PWA will radically change how consumers use their mobile devices for shopping. They offer a powerful, app-like browsing experience that finally meets the demands of the modern mobile shopper.
If you have expertise in this area, or the capacity to build it, make sure you talk about it on your blog and website so that merchants find your content when they begin their research. And don’t forget to educate your existing clients so they know they can rely on you as a trusted advisor.
Go broader with mobile commerce
Choose a specialization that’s on a steep growth curve like mobile eCommerce. By 2021, 53.9% of all eCommerce is expected to be generated via mobile (also known as mCommerce). Most eCommerce sites are mobile-friendly, but the buying experience remains largely the same as desktop.
Not customizing the buying experience to mobile is resulting in high cart abandonment rates, low conversions, and a huge gap in revenue between desktop and mobile. By understanding the specific expectations of the mobile shopper, you can help merchants optimize their sites for the mobile buyer and get more revenue from this growing source of traffic.
Position yourself as an eCommerce service provider who has their clients’ best interests in mind. Offer timely solutions that meet your clients’ seasonal needs. Find a specialization that provides solutions to emerging problems and technologies. By doing so, you’ll not only retain your existing clients but capture new business.