7 Top Tips for eCommerce Growth in 2024 (episode 474)
Every January we release an episode like this one – your guide to the best ways to achieve success this year.
To help you navigate the impact of all this and build resilience and competitiveness into your business I’ve worked hard to get you a line-up of brilliant experts so you get the best possible tips to help you survive the year ahead AND make the most of it!
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Emily Long from Genie Goals
Emily’s top tips on achieving eCommerce success in 2024 are about balancing existing activities with new ideas. She says:
- Understand what areas of your marketing activity are working well and why.
- Test and optimise current activities.
- Have a clear objective when testing and align KPIs with the test objectives.
- Use the 70-20-10 model for budget allocation: 70% on proven activities, 20% on low-risk tests, and 10% on high-risk, high-return experiments.
Rosie Bailey, Nibble
Rosie’s top tip for eCommerce success in 2024 is to scenario plan. And for Rosie, you can achieve this through 2 main things:
- Your team. Build a great team by promoting, empowering, and reskilling members.
- Your culture. Cultivate a culture of trust and responsibility. Trustworthy and responsible teams can handle new challenges and decisions, even when the right answer is unclear.
Kathleen Sullivan Garman from SullyGarman & Associates
Kathleen’s top tip for success in 2024 is to make a comprehensive plan for the next 12 months. This can include:
- Knowing what SKUs you want to release.
- Maintaining updated information on all sales channels.
- Fostering collaboration between sales, operations, and finance departments for an effective Sales and Operations Plan (S&OP).
- Using different tools to document your plans and making sure everyone in your organization has access to everything they need to achieve success.
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Peter Beckman, Treyd
Peter’s advice for 2024 is to focus on profitable growth. Peter suggests doing the following:
- Sell off dead stock. Create bundles and give special deals to existing customers to increase average order value while reducing marketing spend.
Anita Kulkarni from SHOPLINE
Anita emphasizes two pivotal themes shaping eCommerce in 2024:
- Personalization: This goes beyond knowing a customer’s basic details. Create a personalized experience for your customer throughout their buying journey. This is going to be a critical piece for you to capture and retain your customers.
- Efficiency: Achieve efficiency by choosing a technology that simplifies your tasks and allows you to focus on core business objectives.
Dave Smallwood, Super Payments
Dave provides a three-step approach for adapting to tough economic times in eCommerce:
- Step 1: Make shopping easy and fun by ensuring a user-friendly website that works well on phones and offers a smooth shopping experience.
- Step 2: Tailor deals to individual customers using data to suggest products and offers that fit their preferences and budget.
- Step 3: Add flexible payment options such as digital wallets or payment plans, and introduce loyalty programs tied to payment methods to make every pound spent feel worthwhile.
Janis Thomas from Look Fabulous Forever
Janis’s top tip for eCommerce success in 2024 is centered around listening to customers and collecting data. She suggests:
- Regularly asking customers about their awareness of your brand’s unique selling propositions.
- Understanding what they like and dislike about the brand, and seeking feedback on specific products.
- Using customer data to formulate product ideas, ensuring they align with customer preferences and are financially viable.
Related episodes
- Chloe’s Top 3 Marketing Tools to Improve your eCommerce sales in 2023 (episode 419)
- 8 Top Tips for eCommerce Growth in 2023 (episode 420)
- 10 Top Tips for Using AI to Scale Your eCommerce Business (episode 451)
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