All signs are pointing to another recession in 2023. However, we also know that most companies only analyze about 12% of their collected data, leaving 88% of opportunities (and threats) unnoticed.
Call us optimists, but we still think there are plenty of ways to sidestep this pending recession while tapping into your business's established wheelhouse.
From SEO efforts to discount offers, we'll go through 12 tried and true business strategies that can help you find new customers and increase sales in 2023. So keep reading to find out how you can take back control of your eCom business.
See Related: The Importance Of Blogging When Running A Business
As a Los Angeles SEO company, we’re used to finding organic ways to increase visibility, traffic, and more to your brand’s website. Here are our top tips when it comes to increasing sales in 2023.
Researching existing customers, as well as potential customers, is a strategic part of any marketing plan. But just because you researched your target audience once doesn't mean you should stop updating your intel.
47% of SEMRush survey respondents reported that they research their audience in order to create successful content marketing campaigns.
But what about the other 53% of businesses that don't? This leaves ample room for you to research the kinds of potential customers you want to cater to.
And this research can even help you strengthen your understanding of existing customers, which will only make your customer base feel all the more appreciated and understood.
Sometimes, when businesses are in pursuit of new customers, they lose sight of the best customers that are already in their database.
86% of buyers are willing to pay more for a great customer experience.
So if you want to increase the chances of repeat purchases among your existing customers, then you need to invest in your relationships with them, as well as potential customers.
Keeping up to date with your customers not only helps you to identify the ideal customer you're already catering to. It also helps to attract customers online who similarly want to receive that VIP treatment.
Whether you're a small business or not, customers enjoy that 1-on-1 attention that small businesses are often able to provide. So if you want satisfied customers, be sure to care for the clients in your database already before widening your reach to more customers.
Similar to SEO, the world of marketing is constantly evolving. What might attract new customers now may not be relevant in just a couple of years.
That's why it's important to continually reassess your marketing strategies overall. So let's take a look at the best ways to track down your ideal customer in 2023.
Whether you like it or not, search engines play a big role in how you're able to reach new customers. This means that you need to woo search engines before you can even consider a potential increase in sales. That being said:
SEO drives 1,000%+ more traffic than organic social media.
So it's no wonder that business after business has been pouring more money into its SEO efforts. As an SEO company with 35+ years of experience, we've managed to help companies increase sales, dominate organic search, and attract more customers.
From 2020-2021, we managed to 35x one luxury beauty company's organic visitor growth, resulting in 605 unique organic sales in 10 months and ranking them for 6,500 keywords in Google's Top 100 results.
With the potential to increase sales, expand your reach to more customers, and see results like this, investing in an SEO strategy is a no-brainer.
After all this time, email campaigns are still able to deliver some impressive results.
For every $1 you spend on email marketing, you can expect an average return of $40.
Besides, email gives you the chance to speak directly to the customer. And that's the same kind of 1-on-1 attention new customers will clamor to receive themselves.
Let's start with a staggering statistic:
There are 4.76 billion active users on social media platforms.
So if your business doesn't have a social media presence, then you're missing out on a number of opportunities to entice customers with their next purchase.
Plus, social media platforms make it easy for you to track audience behavior and demographics. So you'll get a new set of analytics to help you strategize future campaigns.
You might think that making cold calls is a waste of time. But that's why you need to find the perfect window to take advantage of this old-school marketing strategy.
96% of customers want to hear from a sales rep when they're ready to buy.
So if you have a customer with an abandoned cart, this could be your moment to seal the deal by making a personalized call just to them. Are you noticing a trend with this 1-on-1 attention?
Offering discounts to new customers is a tried and true conversion technique. But there are other ways you can attract new customers while simultaneously tapping into your existing customer base.
Offering a "Bring a Friend" deal is a great way to tell your existing customers that you're looking to broaden your reach. And if they help you do exactly that, they'll get a benefit of their own!
Plus, 38% of shoppers bought more than they would have otherwise because of acquiring a coupon.
With this strategy, you can tap into the customer's psyche in two ways. 1) Everybody likes the idea of saving money, and 2) customers become brand ambassadors for your business when they bring a friend in.
If you want to take the last step further, you can set up a referral program to make for a more organized strategy.
People are 4x more likely to make a purchase after a referral from a friend.
In this case, a referral is practically the same as an endorsement. Not only will this give your business more credibility, but it will also further your word-of-mouth marketing which remains the most effective form of marketing there is.
Customer retention remains a top priority for every business. But just because a customer leaves your business doesn't mean you can't still reach out to them.
The average company loses 10-25% of its customers each year. But boosting customer retention by 5% increases profits by 25-95%.
One of the best ways to boost customer retention is by understanding why a customer left in the first place. Not only will this help you learn more about how your business can improve its customer experience.
But clients will feel valued by virtue of a business reaching out to them personally. It's a win-win!
We know that reassessing the competition takes a lot of time and effort. But here's a statistic that simply speaks for itself:
Most companies only analyze about 12% of their collected data, leaving 88% of opportunities and threats unnoticed.
We're not talking about a 50-50 chance here. We're talking about close to 90% of missed opportunities.
This is the perfect chance to reignite your competitive analysis skills while sidestepping the competition. Sometimes, getting ahead means looking at where others aren't directing their efforts where they should be.
Refreshing your website to have a new look is one thing. Well, actually it's a big thing!
62% of companies polled said they believe a website should be redesigned every 2-3 years.
And customers like to see that a company is not only willing but excited to evolve over time. But all of these new design elements will only come together with the right SEO strategies by your side.
This tip is about combining style with substance. If you're able to attract customers with a new look but aren't able to deliver a seamless online experience, then what's the point?
As an SEO company, we've seen this business mistake happen time and time again. So take it from us and our proof of results - match your style with substance!
Networking is always a good idea. But leveraging your network through organized partnerships can do more for your business than you might think.
While the average business generates 18% of its revenue from paid search, high-maturity partnership programs generate 28%.
By partnering with a complementary business that's not your direct competition, you can expose your brand to a whole new audience. And you'll already have been endorsed by a brand they trust.
More and more, customers are concerned with how to support their immediate communities. Plus, integrating your business within a community can help you establish a deeper level of trust among consumers.
57% of Americans admit purchasing locally to keep money in the community, and 38% want to support local business owners and the community.
Understanding your target audience's values and reflecting them back to them is yet another way you can show your ideal customer that you care. In other words, their issues are your issues, and vice versa.
Attracting new customers has a lot to do with trust. Take this statistic, for example:
93% of users say online reviews had an impact on their buying decisions.
Just like a referral, potential customers like to know that they can trust what they're about to invest in. So compile your great reviews and boost them across a variety of channels to show customers your brand can be trusted.
Pro Tip: This is also a great way to repurpose content if you're not sure what to post on your social media feed!
Ideally, the product or service you're providing is offering value to customers. So why not provide that same level of value through blog posts to reinforce your identity as a brand?
Blogging influences 6% of eCommerce sales (12% for businesses that blog regularly).
Plus, blogs give you the opportunity to show off your expertise, helping you to accrue greater authority in customers' eyes. There are plenty of benefits to blogging, but you can read our other blog posts about that later!
In 2023, there are plenty of ways to boost your brand and increase sales. So try out these tips and see which ones stick for your business!
Keep Reading: Why Is SEO Important To Digital Marketing?
Up Inc. eCommerce Agency is a digital marketing agency based in Los Angeles, CA. Founded in 2021, Up Inc. specializes in eCommerce, generating growth for brands by focusing on visibility, customer loyalty, and digital revenue. For more SEO tips and industry insights, follow us on Facebook, Instagram, and LinkedIn.