12 ecommerce growth hacks for 2024
Ecommerce is buzzing with opportunities, and for the savvy SMB owner, they’re ripe for the picking. You just need to know where these opportunities lie and how to grab them with both hands.
While the sheer volume of competition can be daunting – as of September 2023, there were more than 26.5 million ecommerce sites globally – there are always ways to stand out from the crowd and experience real ecommerce growth.
And that’s where we come in, showing you the 12 best hacks to accelerate your ecommerce growth…
Whether it’s perfecting your website’s user experience, leveraging the latest in social media trends, or optimizing your inventory and warehouse operations, we’ve got you covered with practical, actionable strategies.
Website growth hacks
Simplify your checkout
A convoluted checkout experience deters 17% of online shoppers, and let’s face it, it adds a whole lot of unnecessary friction to the shopping experience.
Streamlining this process is a critical – yet often overlooked – facet of ecommerce growth. In a world where customers expect speed and simplicity, a long and complicated checkout process can be the hurdle that stops a sale in its tracks.
Start by reducing the number of steps to complete a purchase. The fewer clicks between a customer and their purchase, the better. Consider implementing options like a guest checkout to cater to those who prefer a quick, no-strings-attached transaction. Auto-fill fields for returning customers can be a game-changer, saving time and minimizing hassle.
Another key aspect is clear, concise communication throughout the whole checkout process. Ensure that costs, including shipping and taxes, are transparent from the get-go. Surprises at the final stage often lead to cart abandonment.
Offer free shipping and returns
47% of online shoppers abandon their cart due to high extra costs (shipping, taxes, fees).
This means that offering free shipping and returns is more than a customer convenience, it’s a strategic growth hack that can significantly boost your conversion rate.
Introduce free shipping to remove a key barrier to purchase. Customers are more likely to complete a purchase when they’re not worried about extra costs at checkout. This increases the likelihood of sales and enhances your brand’s appeal, making you stand out among competitors and fostering increased customer loyalty.
Similarly, provide a straightforward return policy to instill a sense of security, especially crucial for first-time customers. By ensuring hassle-free returns, you build trust and encourage risk-free purchases. While these policies may seem like a generous offer, they are strategic moves to increase customer satisfaction and loyalty, driving long-term growth for your business.
Optimize your site for mobile
Despite the mobile-first indexing approach adopted by Google nearly a decade ago, many businesses still lag in optimizing their websites for mobile devices.
A 2023 report highlighted that over 50% of global website traffic comes from mobile devices, underscoring the importance of mobile optimization for online businesses.
Optimizing your site for mobile goes beyond mere responsiveness. It helps to ensure a seamless, user-friendly experience on smaller screens. Think about things like faster load times, easy-to-navigate menus, touch-friendly interfaces, and fit-to-screen pages. Optimize your website for mobile to not only cater to a growing audience of mobile users but to also positively impact your search engine rankings.
Mobile optimization is crucial in capturing the significant segment of consumers who prefer shopping on their smartphones. Create an engaging mobile shopping experience that rivals the ease of desktop browsing. Provide functionality that caters to the fast-paced, on-the-go lifestyle of today’s consumers.
Social media growth hacks
User Generated Content (UGC)
UGC is a goldmine for ecommerce growth, transforming your customers into your most compelling advocates.
Reports show that 79% of shoppers cite UGC as a factor that highly impacts their purchasing decisions, making it a powerful tool in building trust and engagement.
So, how can you make UGC work for you?
Well, encourage your customers to share their experiences by creating a unique hashtag or running exciting UGC campaigns where users can win prizes or discounts.
A brilliant example is the way global makeup brand, Glossier has turned its customers into a vibrant community. By piggybacking on what customers were already sharing organically, they not only showcase their products in real life but also foster a sense of belonging among users.
Yes, incorporating UGC adds authenticity to your marketing strategy, but you’re weaving your customers’ voices into your brand narrative. This increases engagement and strengthens your brand’s presence, making UGC a vital ingredient for a thriving ecommerce platform.
Social selling
Social selling – particularly on platforms like TikTok – presents a vast opportunity for ecommerce brands to connect with their audience in a more direct and engaging way.
With TikTok’s explosive growth, businesses are finding innovative ways to showcase their products and tap into a wider market. Now, more than 50% of companies are leveraging the platform for business promotion.
The key to success on TikTok lies in creating content that resonates with the platform’s audience. This means producing authentic, entertaining, and visually appealing videos that showcase your products in action. Collaborate with influencers or utilize trending hashtags to boost your visibility and engagement on the platform.
Embrace social selling on TikTok to not only reach out to a younger, tech-savvy audience but to also utilize the power of visual storytelling to enhance your brand’s appeal. This approach enables a more personal and interactive shopping experience, driving both brand awareness and sales.
Influencers
Influencers – in the world of social media marketing – have become pivotal players in driving ecommerce growth.
Their ability to connect with audiences on a personal level makes them invaluable assets for brands looking to expand their reach. A recent report from Influencer Marketing Hub reveals that 67% of brands use Instagram for influencer marketing.
Partner with influencers to tap into already-established communities, and gain instant credibility and engagement. The key lies in selecting influencers whose followers align with your target audience, ensuring an authentic and effective promotion of your products, so it doesn’t seem forced.
For instance, fashion brands that collaborate with Instagram-style influencers are likely to see a substantial increase in consumer engagement and conversion rates. These partnerships offer visually rich, relatable content that resonates with followers, driving traffic and sales.
But remember, influencers are more than just promoters, they’re trendsetters and trusted voices that can propel your brand to new heights in the ever-competitive world of ecommerce.
Inventory growth hacks
Control your inventory
Mastering inventory control is like conducting a symphony – it’s all about harmony and precision. But don’t worry, we’re sure it’s not as difficult as actually conducting a symphony… (we hope!).
Effective inventory management directly influences your business’s agility and responsiveness, key factors in staying ahead in today’s fast-paced market. In fact, a study by IHL Group found that the cost of inventory distortion for global retailers is $1.7 trillion, including overstock and out-of-stocks.
Linnworks steps in here as your strategic partner. Its robust inventory management system allows for real-time tracking and analysis, empowering you to make proactive decisions. By maintaining the right stock levels, you can swiftly respond to market trends and customer demands, minimizing lost sales due to stock issues.
Strategic inventory control doesn’t just mean avoiding overstock or shortages, it facilitates a proactive approach to drive sales growth. If you have the right products at the right time, you enhance customer satisfaction and loyalty, which are crucial for scaling your ecommerce business.
Stock forecasting
Stock forecasting is the backbone of ecommerce inventory management, acting as a compass for future market demands.
This approach can improve inventory levels and boost revenue. Effective inventory management solutions leverage advanced analytics for effective stock forecasting, transforming complex data into actionable insights.
For example, Linnworks harnesses advanced analytics to interpret sales data and market trends, offering valuable insights into future demand. This level of foresight is essential in making informed purchasing decisions, ensuring you stock products that align with upcoming customer needs, not just current trends.
Warehouse growth hacks
Warehouse layout
A well-thought-out warehouse layout is pivotal for streamlining operations and enhancing ecommerce efficiency. It can significantly reduce picking time and improve operational efficiency. Plus, by speeding up order fulfillment, customer satisfaction increases exponentially.
Incorporate Linnworks into your warehouse management strategy to allow for seamless integration of order processing and inventory management. This integration facilitates a layout that supports efficient picking paths, minimizes travel time for warehouse staff, and optimizes space utilization.
Automation
Tamworth Camping’s journey with Linnworks showcases the transformative power of automation in ecommerce.
As their business expanded online, the challenge of managing inventory across multiple channels became apparent. During peak summer periods, they faced processing up to 600 orders overnight, a daunting task for any team.
Implementing Linnworks’ warehouse automation system revolutionized their operations. It seamlessly integrated with platforms like Mountain Warehouse, streamlining the entire order process. This efficiency not only saved manual labor but also significantly reduced human errors in picking and packing.
The impact of Linnworks’ automation extends beyond just handling high-order volumes. It enhanced inventory accuracy and improved overall operational efficiency.
As Rob from Tamworth Camping puts it, “Linnworks is the brain of our business because everything we do is in some way related to it. Everything works effortlessly with Linnworks bringing all the different channels together and automating processes.”
Barcode scanning
Barcode scanning in warehouse operations is a crucial component in modernizing the warehouse, directly impacting efficiency and accuracy.
With this technology, warehouse staff can effortlessly scan items, which not only speeds up the picking process but also drastically reduces human errors. If you implement barcode scanning, you can significantly improve accuracy rates. This level of precision is vital in an ecommerce setting where customer satisfaction hinges on receiving the right products at the right time.
Linnworks integrates barcode scanning functionality, transforming the way warehouses operate. Incorporate this into your warehouse operations to help you move towards achieving operational excellence, enhance the customer experience, and foster growth in the competitive world of ecommerce.
Bonus hack: Sell on more online marketplaces
Expanding your presence across multiple online marketplaces is the ultimate growth hack for 2024.
Diversifying where you sell unlocks new customer bases and maximizes visibility. Think beyond your website, platforms like Amazon, eBay, and niche marketplaces offer untapped potential.
Linnworks facilitates this expansion by streamlining inventory and order management across various channels, making the process seamless and efficient. Embrace this strategy to not only increase your sales opportunities but also build resilience in the ever-evolving ecommerce landscape.
Amplify your ecommerce success
The key to thriving in the digital marketplace lies in strategic adaptation and leveraging the right tools. From optimizing your website to mastering social media, and efficiently managing inventory and warehouse operations, each hack is a step towards significant growth.
Linnworks plays a pivotal role in this journey, seamlessly integrating various aspects of ecommerce to provide a streamlined, efficient experience. Don’t just manage the now, prepare for the future and stay ahead in a constantly evolving landscape.
Ready to transform these insights into tangible results? Book a demo today and embark on your path to ecommerce growth.
