Before you start, keep in mind that the growth of your e-commerce depends on a process and not on a specific action (silver bullet), otherwise all online stores would be selling 500 thousand or more per month. There are many factors that influence this result, such as market size, competition, average ticket, acquisition cost, consumer trends, among other things.
In addition, to scale your sales, you need to find your product/market fit, also known as product-market fit. It is the degree to which a product satisfies a strong market demand. It is the first step in creating a successful business, in which the company serves the first users, obtains feedback, and evaluates interest in its products.
Finally, wanting is not doing. Taking action is the best solution, so let's get to the solution…
“How much will we sell when we work with you?”
Without consistent historical data, it is not possible to make decisions or predict the performance of future actions. An e-commerce without a clear strategy cannot go very far, because if we do not organize the digital actions, we will never know which initiatives are generating results. No matter how much we have implemented an advanced analytics system, with trackers and dashboards, without understanding which actions generated such results, it will never be possible to scale what works or stop what doesn't. Any prediction without consistent historical data is a mere guess.
“If I invest 10 thousand, how much will I make?”
- Investing 10 thousand in awareness may not generate sales, but it can return in brand recall and future sales.
- Investing 10 thousand in new user traffic can bring sales, but with a low ROAS and also a low conversion rate because it is a cold audience that does not know your store yet.
- Investing 10 thousand in returning visitors from the last 90 days can bring a slightly better result, but if the audience is not large enough, it may have a very high frequency and spend your money on people who will not buy.
- Investing 10 thousand in customers who abandoned their cart can generate many sales, but it is a very restricted audience, impossible to scale.
In other words, if you invest 10 thousand, try to distribute your budget across all stages of the funnel. Analyze the results of the campaigns at each stage and adjust the budgets according to performance. Know that an audience can become exhausted, so a campaign that works may stop delivering results.
“I need to sell 20 thousand per day”
Sales do not happen magically. They happen as a consequence of other actions. To sell 20 thousand per day, you need to do more and better than when you were selling 10 thousand per day. Start by investing in channels that have not yet been explored.
“I'm just starting and I want to sell 500 thousand per month”
After the correct implementation of the tracking tags, we will be able to activate the campaigns on Facebook Ads and Google Ads.
Established brand without e-commerce: if your brand already exists, you can focus first on an engagement audience that already knows it, or has already shown interest. Your engagement audience is the ideal segmentation to start advertising.
Brand just starting: now, if your brand does not yet exist, it will be necessary to invest in building an audience that is interested in your product, and this may require an investment in brand awareness before generating the first conversions.
E-commerce without marketing: If you already have an online store and have not yet implemented the tracking tags, the audiences created by the tracking done by the Facebook Pixel will be created from scratch, everyone will be treated as a new customer, therefore we will end up advertising to engaged customers. This can cause confusion in the numbers.
After 6 months, we will have tracked many users on the Google and Facebook ad networks to, for example, form lookalike audiences, but also exclusion lists to generate more results with the same investment.
Get to know the E-commerce Management Framework
Over the last few years, Check Commerce has developed a methodology for e-commerce management for its various clients. A way to organize initiatives to maximize results, share the strategy internally, and with external suppliers (agencies or consultants). Get to know our framework, it is a simple process that allows the entire team, management, and suppliers to be aligned with the same goal: sell more and better.
E-commerce Management: how to manage your online store to sell more and better (1 of 6)
