Will you feel surprised if I will say that e-commerce website sales (across the world) are projected to generate a revenue of $8.1 trillion by the year 2026?
Such massive growth is expected in the e-Commerce market because consumers are fascinated with the following comfort levels in online shopping – such as home delivery, quality product offerings, easy return facilities, etc.
However, I noticed that e-commerce stores (specifically new and small stores) )often face issues in identifying their targeted audiences. Failure in identifying targeted audiences often results in low traffic, reduces sales, lower profitability, etc.
Although, if you are also facing a similar issue then check out my below article.
Do not make your eCommerce a local departmental Grocery Store
- If you ever visited to any local grocery and general store in your area – then you will find that shopkeepers try to keep all the goods as much as possible.
- If you have an e-Commerce website then do not try to make it a local general and grocery store.
Hold on!!
- Let me explain to you my perspective – in order to make your e-Commerce store highly attractive it is important that you should focus on selling specific product categories. For example: either make your e-commerce store dedicated to selling attires or grocery products or medical products, etc.
- If you are at an initial level, then do not try to sell all product categories at the beginning. Now, you may be getting this thought – big e-Commerce giants (such as Amazon) also sells multiple product lines.
- So, the answer to your thought is – when Amazon was at an initial stage, then they just started as a bookstore.
- So, if your e-Commerce is that the initial stage then you should focus on first developing your niche in a specific product category. Once you accomplish growth in your niche then you can focus on developing multiple product categories in an effective way.
Apart from this, you can take support from any eCommerce website development Dubai. They will guide you to develop a professional eCommerce store to attract audiences.
New or small e-Commerce stores do not conduct a demographic analysis
I am in the eCommerce industry for the past 7 years. I am connected with many emerging eCommerce stores. However, I noticed a pattern that many small-scale or new eCommerce business owners do not conduct a detailed analysis for figuring out their targeted audiences.
- Now, you will ask me a question every eCommerce website sells some products or services to a particular audience so they must be aware of their targeted audiences. Yes, I agree with you.
- Every eCommerce website owner conducts an analysis but I am saying that eCommerce website owners do not conduct a depth analysis.
- By depth analysis, I mean that eCommerce website owners do not take use of different models to judge their targeted audiences.
In the below part, I am suggesting a demographic framework that will help you to figure out your targeted audiences:
Suggested framework – demographic analysis
Product or services: write down the product or services which are being offered in your eCommerce store.
#1: Age group: write down the average age group of your targeted audience. For example: if you only sell women’s jewelry on your eCommerce website then the age of your audience will be “30 years and above”.
#2: Income line: write about the average income line of your audiences – whether your audiences belong to:
- Middle group income line.
- Upper-middle-class income group.
- Higher class income group.
#3: Education: write about the average education qualification of the people whom you are going to target.
#4: Common lifestyle values of the targeted audiences.
This 4 steps process required extensive research and are time-consuming. You will need to analyze each point in detail and you need to have a proper justification. For example: if you state that your targeted audience group lies between the age group of 25 to 40 years – you need to have a valid justification.
Approximately 60-80% of content marketing targeted the wrong audiences
- When it comes to an eCommerce business then companies understand the importance of content marketing in an effective way.
- As, companies focus on creating content through videos, social media posts, etc. However, an issue arises when content marketing tends to target the wrong audience group. It is estimated that around 60 to 80% of content marketing targeted the wrong group.
- Although, the above mention percentage is not an exact scenario I can say from my experience that majority of the content marketing targets the wrong group.
- In order to rectify this situation, I am suggesting a simple technique that will help you to generate more profitable results from content marketing:
Step 1: Your content marketing should create value for customers
Step 2: Understand the perspective of the marketers and the customers
Step 3: Design a detailed wireframe
Step 4: Implement the wireframe design
The final words
To make sure that you are targeting the right audiences, you are required to make use of different performance-based indicators –
Below are the five performance-based indicators such as the number of visitors, average bounce rate, conversions, etc. These indicators will help you to judge your targeted audiences.
Frequently Asked Questions(FAQ’s)
What are the foremost challenges for the e-Commerce business?
- Challenge to analyze the right audiences.
- Challenge in generating traffic leads.
- Retaining customers.
What are the benefits of content marketing?
There are the following benefits of content marketing such as – it helps to drive sales, helps in supporting the funnel, can improve conversion rates, etc.
What are the biggest mistakes which people make while targeting audiences?
The primary mistake while targeting the audience is that the company does not specifically target any market. For example, a grocery shop does not have a list of its targeted audiences. A grocery shop only targets audiences randomly. So, if you operate online e-commerce then you should not repeat this mistake.
What is the importance of the 4 marketing P’s?
The four P’s of marketing are as follows – product, price, promotion, and place. These marketing mix methods help in determining the marketing effectiveness, importance of placement, allocating a specific budget, etc.
For a startup company – which marketing mix can generate more results: 4P’s or 7P’s?
4P’s of the marketing mix can be added at an initial level. If your start-up has immense knowledge then you can even apply the 7P’s of marketing.
